Initiating a Data Governance Program in Financial Services

Perficient Data & Analytics

Previously, I discussed the components needed to design a data governance strategy. This post will describe in detail, how to initiate the data governance program. Determining the major pain points will lead to a determination of program priorities. The funding, and therefore and staffing of the program, will dictate the scope and the degree to which aspects of the governance program can be tackled in parallel.

NYDFS 500 and GDPR in Financial Services – Actions to Take Now

Perficient Data & Analytics

In my final post of this series, I want to outline the actions you can take to remain proactive with data privacy laws surrounding NYDFS 500 and GDPR. Understanding NYDFS 500 and GDPR, their impacts an organization, and how to go about implementing and managing a response program is critical. Firms should identify the gaps in their cybersecurity program, including areas that need immediate action and longer-term changes to support the program.

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New York Department of Financial Services Released New Guidance Addressing COVID-19 Related Cybersecurity Risks

HL Chronicle of Data Protection

Continuing its focus on COVID-19’s impact on its regulated entities, on April 13, the New York Department of Financial Services (NYDFS) released new cybersecurity guidance in response to the COVID-19 pandemic. Third-party vendors may struggle to deal with COVID-19 restrictions.

Embracing new ways of working in financial services

CGI

Embracing new ways of working in financial services. Although the approaches to dealing with the COVID-19 pandemic vary by country, as governments and businesses come to grips with it, one thing is imperative: we will get through this. . Customer service.

Business Process Modeling Use Cases and Definition

erwin

A visual representation of what your business does and how it does it. According to Gartner , BPM links business strategy to IT systems development to ensure business value. It also combines process/ workflow, functional, organizational and data/resource views with underlying metrics such as costs, cycle times and responsibilities to provide a foundation for analyzing value chains, activity-based costs, bottlenecks, critical paths and inefficiencies.

How to make Puerto Rico your new crypto home

Perficient Data & Analytics

Do I have to move? What does it take to qualify for tax benefits? Identifying the steps to becoming a bona fide resident of Puerto Rico as an individual and/or a company is a multi-step but well-documented process. Just to be completely clear, Puerto Ricans are United States citizens. Do not have a closer connection to the United States or to a foreign country than to the relevant possession. Being able to enjoy federal tax exemption for P.R.

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Leveraging Blockchain Integration to Meet Information Governance Challenges

InfoGoTo

Blockchain integration is one of the hottest technology topics in the business world today, with financial services and healthcare sectors leading the way in exploring how to integrate blockchain into their organizations. A recent PwC survey of 600 executives from 15 territories noted that 84% of respondents are actively involved with blockchain in some form, with financial services taking the lead. A Financial Services Roadblock.

Congress Hears Ideas for Battling ID Theft

Data Breach Today

Experts Call for Rethinking Identity Management in Financial Services Sector As cybercriminals adopt new methods to steal and manipulate victims' identities, the U.S. financial services industry needs to rethink how to protect customers' information using emerging technologies, such as artificial intelligence, security experts testified at a recent U.S.

IBM BigFix and Licensing Metric Tool

Perficient Data & Analytics

I’ll admit that this was the first time installing this application, so I had to do my research. Also, I did mistakenly refer to the IBM Licensing Metric Tool as the IBM Licensing Management Tool. Either way, I think this is a good solid overview of how to install the tool. However, if you know a different way, or see something that may be incorrect, feel free to leave a comment. Go to their Get Started page for more information.

How to create value through digital archiving

CILIP

How to create value through digital archiving. You can listen now to a podcast version here. This tails back to the national archives who ten years ago came to us with a project. They realised that they had a lot of content and wanted to make sure that they could avoid file obsolescence. ve provided to a client in terms of gaining access to older content? re looking at compliance and criticality you need to automate that.

AIIM19 Session Preview - Bot Bootcamp: How to Manage Your Artificial Employees

AIIM

Topics range from artificial intelligence to business process automation and data analytics and beyond. But none will be more informative than a session planned by David Jacopille from Massachusetts Financial Services titled “Bot Bootcamp: How to Manage Your Artificial Employees.” I spoke recently with David and asked him to give us a preview of what to expect. But you say that the trick is making the technology work in day-to-day operations.

Grove Pension Solutions fined £40,000 for PECR violation

IT Governance

Tried to do the right thing . The ICO’s d irector of i nvestigations and i ntelligence , Andy White , said : “Spam email uses people ’ s personal data unlawfully, filling up their inboxes and promoting products and services which they don’t necessarily want. . “We We acknowledge that Grove Pension Solutions Ltd took steps to check that their marketing activity was within the law, but received misleading advice. EU GDPR Financial Services Data management PEC

Top 7 Data Governance Blog Posts of 2018

erwin

But as data’s value to the enterprise has grown, so has the need for a holistic, collaborative means of discovering, understanding and governing data. But for a long time, the discipline was marred with a poor reputation owed to consistent false starts, dogged implementations and underwhelming ROI. to Data Governance 2.0 But to ensure the collaborative take on data governance is implemented properly, an organization must settle on a common definition.

Kali Project Encryption and Isolation Using Vagrant and BitLocker

Perficient Data & Analytics

Furthermore, maybe you also have the need to keep the data for each of those projects isolated from the others – in other words, you need to avoid cross-contamination between your projects. In this article I will show you how to use my Vagrant Kali Project Setup tool to quickly and easily accomplish the following on your Windows host: Create a project folder that will provide the workspace for a new project. This is good and what you want to see.

Wealth Management is Getting Serious About Digital Transformation

Perficient Data & Analytics

Hardly a day goes by without a mention of how to use artificial intelligence, machine learning, mobility, and robo-advice to make wealth managers more relevant to the holy grail of customer segments – Millennials. Conventional wisdom says their fondness for mobile phones, computers, the internet, texting, and social networking clashes with traditional modes of service and product delivery in the wealth management industry.

Need BI? Get Trusted Analytics Advice by Experts, for Experts

Perficient Data & Analytics

When it comes to business intelligence, where do the experts go to learn? Since the SIMON app launched, Perficient has been on the road with AllianceBernstein and MicroStrategy sharing how to turn analytics into action. Artificial intelligence is poised to rapidly disrupt and transform industries much in the same way digital transformation has impacted our world. MicroStrategy provides a range of tools and capabilities to meet this need head on.

AllianceBernstein’s Mobile App Empowers Sales Teams in Real Time

Perficient Data & Analytics

How to Best Enable On-the-Go Sellers. Perficient’s MicroStrategy business intelligence experts (formerly of Southport) partnered with AllianceBernstein, a leading global asset management firm, to co-develop an intuitive, unique sales app that leverages MicroStrategy on top of Salesforce CRM data to give the AB sales team real-time, mobile-first information. Listen to the session here. Contact Perficient to learn how this app can help you.

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[Guide] SEC Investment Company Reporting Modernization

Perficient Data & Analytics

In an effort to increase transparency, the Securities and Exchange Commission (SEC) has adopted new rules and amendments, called Investment Company Reporting Modernization Rules , which require registered investment companies to modernize their reporting and disclosures. Our new guide discusses the background of the SEC’s Investment Company Reporting Modernization Rules and the potential effects on individual financial institutions, including: Why the SEC established new rules.

6 Best Practices for Your CECL Response Program

Perficient Data & Analytics

Understanding the new current expected credit loss (CECL) regulation, how it impacts an organization, and how to go about implementing and managing a response program will be critical for firms carrying financial assets covered by the accounting standard update. Companies will need to understand the history and lifecycle of their data and processes, and engage finance, technology, risk, compliance, and audit, to ensure a successful outcome.

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These 3 GDPR Requirements You Must Support Today are Nothing Compared With What’s Coming

Reltio

The primary objectives of the GDPR are to give control back to their EU citizens and residents over their personal data, to simplify the regulatory environment for international business, and to unify regulations within the European Union. Personal data includes a wide range of personal identifiers, from addresses and public information, to social profiles, images, IP information, device IDs and medical and financial details.

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Financial Statements and Disclosures under CECL

Perficient Data & Analytics

Entities must first include the new CECL disclosures in their financial statements and regulatory reports (e.g., The structure and granularity of an entity’s income statement and balance sheet does not to change, as the details of the CECL models are presented through financial statement disclosures. Much of the difference in the disclosures relates to changing terminology.

#ModernDataMasters: Martin Squires, The Analysis Foundry

Reltio

Four weeks later I asked if I could stay with that project because it was a lot more interesting to me than economics! How would you define “modern” data management and the connection between that and business analytics? Particularly the data governance side is beginning to be seen as really important. It is difficult for people to keep track of what they are trying to deliver because of all the different technologies they have to choose from.

5 Steps to Modernize Your Mainframe with Pair Programming

Perficient Data & Analytics

It seems like once I stopped mainframe coding in COBOL and RPG and moved to Java, I have been continuously involved in mainframe retirement projects. Many of the new mainframes come with up to 100,000 virtual Linux server and can support Java and C++. A five-step approach can help get you thinking about how to maximize your mainframe, not kick the can down the road. Your first step in modernizing the mainframe is to make it accessible to modern applications.

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#ModernDataMasters: Sarit Bose, Cognizant

Reltio

Sarit is accustomed to working across large enterprises and driving C-Level initiatives. I used to save money from my pocket money and gifts. Before I decided to buy anything, I used to calculate the interest I could earn. The love for numbers and computation led me to do statistics and then computer science at college. For me everything was a formula which is why I quickly realised the vital importance of good input data to work with. “We

#ModernDataMasters: Michele Chambers, AWS

Reltio

Michele Chambers is a Leader of Product Management and Software Development at Amazon Web Services in Seattle. She has a proven track record in launching new lines of high-tech businesses (hardware and software) successfully and in creating visions and strategic plans for her teams to profitably execute upon. Michele is also a speaker, author and evangelist for the use of analytics to drive better business decision-making. I am very lucky to love what I do.

DataStax Advanced Security : Eat your vegetables first

Perficient Data & Analytics

Can you go to production at your specific company? In their latest upgrade, DataStax Enterprise has improved their advanced security offering making it easier to develop a small-scope, time-boxed PoC that can actually demonstrate how a highly available, highly scalable, always on persistence layer can also demonstrate rigorous enterprise compliance characteristics of your current databases. I hear the argument that it’s best to start with small steps.

The Escalating Problem of Protecting Connected Devices

Data Breach Today

The latest edition of the ISMG Security Report features Kevin McDonald of the Mayo Clinic discussing how to secure connected medical devices. Plus, updates on the indictments of Chinese agents for hacking and the unveiling of the Financial Services Sector Cybersecurity Profile

How Microsoft Word “Protected View” Stops Information Leaks

Perficient Data & Analytics

Unfortunately, these features can be abused by bad actors to obtain operational intelligence on individuals, or even to steal credentials. Someone engaging in spear phishing could employ Word-based web trackers to learn more about the type of desktop computer and operating system a target is using, helping the spear phisher tune his or her strategy for further attack. When you click on an ad, the ad server knows who you are by information added to the URL of the ad.

Managing Cyber Risks: A New Tool for Banks

Data Breach Today

In an interview, architects of the Financial Services Sector Cybersecurity Profile, Denyette DePierro and Josh Magri, describe how to use it. Banks have a new tool available for developing cyber risk management programs. They'll offer more details at ISMG's Legal & Compliance Summit in New York on Nov.

#ModernDataMasters: Bob More, SVP Global Field Operations

Reltio

Despite the hype the key to success in these areas has always required reliable data to make the systems work properly – and that was a challenge for all of them too – so we as sales and customer success (before they had a name for it) people lived and breathed all the data problems. Being in control of your own destiny was key – certainly there’s a financial element of it – but I thought that it was a great opportunity to learn a lot and move around an organisation.

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#ModernDataMasters: Tony Saldanha, President, Transformant

Reltio

Tony Saldanha is the President of Transformant and a globally recognized information technology and shared services executive. H e has more than 30 years’ experience in industry, including 27 at P&G, and is a champion of creating new, relevant business and technology models to stay ahead of disruptive technology capabilities. I’ve had the great fortune of evolving with the IT and shared service industry across 6 countries and 13 different roles and assignments.

#ModernDataMasters: Scott Taylor, “The Data Whisperer”

Reltio

Scott Taylor also known as “The Data Whisperer” is a firm believer in “making your data do the work,” and has enlightened many business executives to the value of proper data management by focusing on the strategic rationale and business alignment rather than technical implementation and system integration. The companies I worked for all had taxonomy and content assets, so to deal with that I had to talk to business leaders across all sorts of global enterprises.

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SHARED INTEL: How attacks on web, mobile apps are being fueled by rising API vulnerabilities

The Last Watchdog

Related: A primer on ‘credential stuffing’ APIs are the conduits for moving data to-and-fro in our digitally transformed world. Many organizations caught up in the frenzy of digital transformation don’t fully appreciate the gaping exposures APIs have come to represent.

NEW TECH: Security Compass streamlines the insertion of security best practices into DevOps

The Last Watchdog

DevOps is now table stakes for any company hoping to stay competitive. Related: A firewall for microservices DevSecOps arose to insert security checks and balances into DevOps, aiming to do so without unduly degrading speed and agility.

How organizations are navigating the COVID-19 pandemic

InfoGoTo

When the COVID-19 pandemic began, organizations had to figure out what was going on and what to do to keep people safe while continuing to run the business. Here are their observations and how they’ve navigated the pandemic so far.

MY TAKE: Why companies and consumers must collaborate to stop the plundering of IoT systems

The Last Watchdog

Remote work and remote schooling have spiked our reliance on IoT systems to a scale no one could have predicted; and much of this sudden, dramatic increase is probably going to be permanent. In response, threat actors are hustling to take full advantage.

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NEW TECH: This free tool can help gauge, manage third-party cyber risk; it’s called ‘VRMMM’

The Last Watchdog

million patients when hackers gained unauthorized access to databases operated by a third-party billing vendor. Turn the corner into 2019 and we find Citigroup, CapitalOne, Wells Fargo and HSBC Life Insurance among a host of firms hitting the crisis button after their customers’ records turned up on a database of some 24 million financial and banking documents found parked on an Internet-accessible server — without so much as password protection.

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BEST PRACTICES: How testing for known memory vulnerabilities can strengthen DevSecOps

The Last Watchdog

Over a five year period the number technical software vulnerabilities reported to the National Institute of Standards and Technology’s National Vulnerability Database (NVD) more than tripled – from 5,191 in 2013 to a record 16,556 in 2018. Total vulnerabilities reported in the NVD dropped a bit in 2019, down to 12,174 total flaws. Some credit for that decline surely goes to the DevSecOps movement that has come into its own in the past two to three years.

BEST PRACTICES: Mock phishing attacks prep employees to avoid being socially engineered

The Last Watchdog

Defending a company network is a dynamic, multi-faceted challenge that continues to rise in complexity, year after year after year. Yet there is a single point of failure common to just about all network break-ins: humans. Social engineering, especially phishing, continues to trigger the vast majority of breach attempts. He came up with a new approach to testing and training the bank’s employees – and the basis for a new company, LucySecurity. How much better?

Cachet Financial Reeling from MyPayrollHR Fraud

Krebs on Security

When New York-based cloud payroll provider MyPayrollHR unexpectedly shuttered its doors last month and disappeared with $26 million worth of customer payroll deposits , its payment processor Cachet Financial Services ended up funding the bank accounts of MyPayrollHR client company employees anyway, graciously eating a $26 million loss which it is now suing to recover. If you require wire instructions, please respond to this email and they will be sent to you.