Back Office Outsourcing Data Management in Markit EDM
As part of an enterprise wide programme to deliver a technology and operational infrastructure to support a client’s business strategy, a data management solution was required to meet strategic objectives.
- Trade Management data to be migrated to the external fund administrator
- Custody data to be migrated to the external fund administrator
- Back Office Operations to be outsourced to the external fund administrator
The client’s problem was that the business information required to meet the objectives was disparate across the enterprise and had to be sourced and aggregated from a variety of technology and information platforms.
Reformis and Markit EDM provided an on-site consultancy team to design and implement a series of co-ordinated solutions.
The roles and responsibilities of the team were as follows:
- Translation of high level business objectives into formal business requirements documentation
- Acceptance testing the Markit EDM development
- Analysing the data requirements of the business specifications for each system interface (inbound/outbound) and producing mapping specifications for the development team
- System testing the Markit EDM development
Markit EDM Solution Architects:
- Implementation of ETL processes for inbound data
- Matching rules to co-ordinate the data across sources
- Construction of Gold Copy Master tables
- Construction of User Interfaces for data management and exception handling
- Creation of data extracts for consuming systems