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STP’s CEO, Patrick Murray, joins key Data Management panel at the annual PMAR conference in Philadelphia featuring the “Rock Stars of Performance Measurement”

May 17th, 2016


PHILADELPHIA- STP Investment Services Chief Executive Officer, Patrick Murray, joined John Farris, Rimes, and Richard Mailhos, Eagle Investment Systems, on a panel at the annual and industry leading Spaulding Group’s PMAR conference this year featuring the “Rock Stars of Performance Measurement.” The panelists discussed challenges, key drivers, governance, and solutions for data management issues facing the asset management industry. Highlights of the questions that were asked of the panelists included the below:

• What is the first key step in designing a proper data management solution?
• What are the challenges faced by performance professionals when it comes to data management?
• How are these challenges driving change within the business and what are the options for firms around data management?
• In designing a data management solution, how do performance professionals ensure the data that is being presented to stakeholders is consistent?

One of the key steps that the panelists identified was the need for a flexible data model and determining a baseline of fields. The next key design step would be to centralize calculations and roll-ups which would enable consistent data to be being presented to the end consumers of that data.


The concept of a “rogue” database and one off spreadsheets were discussed as challenges for data governance with executive buy-in and time for cultural change being key drivers for success. Focusing on core competencies and leveraging different combinations of service partners that include industry leading products, market data aggregators, and managed services was presented as one of the best solutions depending on the firm’s position and culture. High costs of fully owning the data management process in-house were identified and a need for transparency and flexibility with managed services was identified as a key success driver. Determining a baseline of quality and then measuring data quality and management improvement via accuracy, exception trends, volumes, timeliness, and hidden costs (e.g. portfolio manager scrubbing data) was also a key point raised by the committee.

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