Financial services institutions like international banks and insurance companies frequently need to adapt to changes in their environments, yet manage risk and ensure regulatory compliance.The author Hans Wegener reveals how metadata can be used to achieve a successful and technological evolution.This unique approach is divided into three parts to: 1. Explain how metadata can be used to increase an organization's ability to adopt changes 2. Outline the peculiarities of financial corporations and how they affect value creation and solution design 3. Present the practical side of effectively managing metadata and sustaining long term success Wegener firstly illustrates the peculiarities of both metadata management and the financial services industry. He combines both, puts them into context of use, and explains where and how this makes life difficult, as well as where and how value is created. This enables the reader to understand the impact of metadata management on his/her organization, its typical side effects, necessities, and benefits.The book then goes onto reveal how different crosscutting concerns managed in large financial corporations (change, risk, and compliance management) can revolutionize business by supporting them with metadata management. This provides a blueprint to be used in strategic planning. Finally, the mechanics of three important practical areas are discussed in-depth, namely managing evolution, quality, and sustainability. This provides helpful scripts for practitioners to be used in real-life.
Author(s): Hans Wegener
Publisher: Wiley
Year: 2007
Language: English
Pages: 279
Aligning Business and IT with Metadata......Page 4
Contents......Page 10
Foreword......Page 14
Preface......Page 18
Acknowledgements......Page 20
1.1. Why this book?......Page 22
1.2. Change, risk, and compliance......Page 25
1.3. Objectives......Page 29
1.4. Scope......Page 32
1.5. Who should read this book?......Page 34
1.6. Contents and organization......Page 36
Part I: Changing the Way You Change......Page 42
2.1. Overview......Page 44
2.2. Managing change adoption: when change impact begins to bite......Page 45
2.3. The essence of metadata: reification of data......Page 50
2.4. The essence of metadata management: coupling processes for systematic change......Page 58
2.5. What is ‘meta’? What isn’t?......Page 68
3.1. Overview......Page 70
3.2. Change, alignment, models, and metadata......Page 71
3.3. Architecture: structure, compliance, and the management of portfolios......Page 81
3.4. Supporting evolution towards and adoption of standards......Page 83
3.5. Aligning business and IT: using a global data language......Page 86
Part II: The Value Proposition......Page 92
4.1. Overview......Page 94
4.2. Reducing the cost and improving the speed of change......Page 95
4.3. From technology-neutral to company-specific viewpoints......Page 99
4.4. Sources of substantial change and impact......Page 100
4.5. Financial services: not a ‘one-size-fits-all’ industry......Page 106
4.6. The big picture: a mixed bag......Page 108
4.7. Case studies......Page 109
5.1. Overview......Page 122
5.3. Risk management in a nutshell......Page 123
5.4. The value proposition: risk and the role of IT......Page 129
5.5. The Role of metadata management in managing risk......Page 131
5.6. Case studies......Page 138
6.1. Overview......Page 156
6.2. The goals and means of compliance......Page 157
6.3. The regulatory landscape......Page 162
6.4. IT and regulatory compliance......Page 166
6.5. The role of metadata management in ensuring compliance......Page 168
6.6. Case studies......Page 170
Part III: Practical Problems and their Resolution......Page 200
7.1. Overview......Page 202
7.2. The ‘management’ in metadata management......Page 203
7.3. Metamodeling......Page 206
7.4. The activities of structured transformation......Page 212
7.5. Dealing with division of labor: intermediation versus direct modeling of change requests......Page 214
7.6. Dealing with impedance: embracing versus overcoming precedent......Page 217
7.7. Grouping changes: optimizing risk versus return......Page 225
7.8. Organizing impact analysis......Page 227
7.9. Change propagation......Page 232
8.1. Overview......Page 234
8.2. Quality deficits: origins and impact......Page 235
8.3. Intelligibility: getting a grip on language......Page 240
8.4. Completeness: maintaining an overview of things......Page 243
8.5. Correctness and actuality: making sure metadata reflects reality......Page 245
8.6. Consistency: moving towards metadata reuse......Page 247
8.7. Granularity: model and metadata working together......Page 249
9.1. Overview......Page 252
9.2. The soft side of success......Page 253
9.3. Establishing ownership......Page 257
9.4. Raising awareness and understanding......Page 266
9.5. Playing politics......Page 267
10.1. Converging change, risk, and compliance management......Page 278
10.2. Elements of a corporate change function......Page 280
10.3. Dos and don’ts......Page 282
10.4. Wrap-up......Page 284
Bibliography......Page 288
Index......Page 292
