harkins ref data

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Insert your company logo here. Cleaning Up Reference Data Amy G. Harkins Director, Global Asset Servicing Mellon Financial Corporation

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Insert your company logo here. Today’s Presentation Mellon’s Background/Growth Timeline Business Requirements led to Referential Data Strategic Initiative Results Tactical versus Strategic Solutions Tactical Solutions Strategic Solutions Lessons Learned

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Insert your company logo here. Mellon Financial Corporation - Background A Global Financial Services Company $2.8 Trillion in Assets Under Administration $588 Billion in Assets Under Management $4.4 Billion in Total Revenue 86% Fee-based Revenue 25,000 associates worldwide Annual Technology Reinvestment of $430 Million #6 Global Custodian, #11 Investment Manager

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Insert your company logo here. Mellon’s Growth Timeline – Global Securities Services 1995 Completion of Boston Safe andamp; Deposit Integration. 1996 Completion of Dreyfus Retirement Services Integration. 1997 Re-engineered operational workflows which resulted in enhanced data/system requirements for the Security, Broker, Account/Entity, Corporate Actions, Income, Dividend and Pricing components. 1997: CIBC Mellon JV, ABN AMRO Mellon strategic alliance and Mellon European Fund Services. Three Separate Initiatives commenced: Strategic Accounting, Strategic Pricing and Global Corporate Actions STP.

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Insert your company logo here. Business Requirements led to Referential Data Migration from Point-in-Time to Real-Time market data availability (Pricing, Income, Dividend andamp; Corporate Actions). Ability to provide more current and composite (calculated) reference data for exotic security types. Changing needs of downstream business-users (Back-office through to Front-office applications of data). Enhanced/robust cross-referencing of industry data to support geographic growth (Brokers/Security Identifiers/Local Market Data). Enhanced Entity/Client Geographical Regulatory, Accounting and Tax Reporting.

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Insert your company logo here. Strategic Initiatives Results Strategic Accounting reviewed existing Mellon Platforms and 5 external platforms. Recommended Eagle’s STAR Product. Strategic Pricing reviewed existing and proposed data vendors and scope of services across all business segments. Recommended Eagle’s PACE Product. Mellon purchased Eagle Investment Systems. Global Corporate Actions Straight Through Processing project was funded. Centralized Data Quality functions surrounding referential data.

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Insert your company logo here. Progress on Tactical Solutions Cleaned-up vendor outbound feeds based on the current client/ asset holdings. Savings of $500K. Consolidated duplicate vendor feeds based on the systems integration/business requirements. Savings of $2.0M. Determined data gaps – client needs versus vendor services. Implemented a centralized data quality team to ensure proper treatment on accounting platform. This required the business segments’ buy-in that quality/timeliness would not suffer but, improve with a centralized unit. Savings of 540K. Automated the Commercial paper and Mortgage Backed security set-up.

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Insert your company logo here. Progress on Strategic Solutions Consolidation of Investment Data Services team to support clients using one hub of information (Model Office) Live September 2002 via Eagle PACE platform. Security Master, Pricing, Income, Dividend and Corporate Actions Referential data all organized in one geographical location and under one manager. Implementation of Straight Through Processing of Corporate Actions announcements and eligibility calculations in accordance with SWIFT 15022 ISO standards. Live September 2002.

Slide9: 

Insert your company logo here. Lessons Learned What you think your clients or business segments need today is NOT what they will need tomorrow. Core data efficiencies in place prior to project initiation. Crawl before you run. Business Segment by Segment. Standardize data elements/definitions are critical.