Like many companies, FINRA desperately needed an MDM initiative to leverage master data in an environment with scores of systems, diverse internal and external sources, and thousands of entities. Three years later, our successful enterprise MDM Cloud platform is growing and offers reliable master data for downstream consumption.
We succeeded by starting small and building organically, leveraging existing data sets where possible. We built with open source Cloud tools not an expensive COTS system. We managed data issues without a direct business product owner or a formal data governance program.
This case study discusses the benefits, challenges, technical solutions, and future direction of our enterprise MDM program, including how FINRA
- Leveraged existing systems and opportunities to jumpstart our MDM initiative.
- Built an MDM platform using existing technology.
- Started small and implemented our vision one piece at a time.
- Runs an Agile MDM platform without direct business sponsorship.
FINRA is a not-for-profit organization, authorized by Congress to protect investors and maintain market integrity through effective regulation of broker-dealers.?
Terri-Lynn Torrez has more than 25 years specializing in data, including every role from developer to architect to analyst. She is a Principal Data Product Manager & Analyst at FINRA responsible for identifying problems, defining strategies and facilitating solutions across the enterprise data space. She is currently Product Manager for FINRA's Universal Data Catalog and the retiring data warehouse.
Charles Choi is a technology director at FINRA, and has been involved with providing data integration solutions for FINRA over the past 11 years. He has managed the data staging hub platform as well as the data warehouse used by FINRA Member Regulation, and currently leads the enterprise reference data program which aims to provide master reference data to applications across the FINRA portfolio. He brings 30 years of technical experience to the table, previously working for Oracle USA and Oracle Korea. He holds a BS and MS in computer science from UCLA.
