The Enterprise Data Management (EDM) Council, a non-profit trade association founded in 2005 by senior financial industry executives and given the mandate to “elevate the practice of data management as a business and operational priority,” reports the appointment of Mike Meriton, one of the organization’s founders, as its head of commercial services.
Meriton, who is the former CEO of enterprise data management vendor GoldenSource, will direct the “rollout of the suite of products and initiatives associated with the Council’s Data Management Capability Assessment Model (DCAM), the expansion of the Financial Industry Business Ontology (FIBO) and … the extension of the Council’s scope of service offerings across the membership,” according to a statement.
Meriton served as the council’s first board chair, as well as chair of the board’s finance and operations committee, according to the statement.
“Both the standards work and the best practices initiatives of the council are now entering their adoption phase and need a focused executive to guide implementation,” says Michael Atkin, managing director of the EDM Council, in a prepared statement.
FIBO is a “content standard used as the common reference point for harmonizing data across the financial industry,” according to the council, and DCAM is the “standard criteria” for evaluating data management programs.
“Both the common reference language and the data management capability criteria are key resources for adhering to BCBS 239 (risk data aggregation) and for compliance with transparency rules such as those for derivatives reporting,” according to EDM Council officials.
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