Mar 30, 2021

Overview

The client, a large superannuation fund, serves over 565,000 members and manages over AUD 72 billion in assets.

As the fund grows in AUM and complexity, its investment data management and performance reporting demands are accelerating. In response, the fund has been working to improve its data environment, including data management protocols, quality assurance processes, and data governance practices.

The fund asked Cutter for feedback, advice, and perspective on its program, as well as how it compares to industry best practices in data management.

Cutter Solution

Cutter was able to achieve the following for the client:

  • Reviewed existing processes and interviewed the data management, investment, and operations staff to assess the current state and identify key requirements for the future.
  • Used Cutter’s proprietary capability model to benchmark the firm’s data management capabilities against its peers in governance, architecture, stewardship, and data delivery.
  • Used the insights gained to identify where the specific issues were, most notably in data management processes and data quality practices, as well as issues with key data stores.
  • Worked with the client’s team to review possible alternatives and approaches, and collaboratively develop a comprehensive target state for data management. (Focused on a data governance effort to change the data management culture within the firm, improve use of existing data management tools, and revitalize the data architecture.)
  • Developed a data governance plan, using industry best practices, to drive changes to data accountability. (The superannuation fund had already selected Curium for data quality management.)
  • Recommended wider use of the platform to provide needed data quality and integration capabilities.
  • Recommended changes to the stewardship practices and organization to improve the data delivered to the front office.

Our client utilized Cutter’s recommendations to initiate a reorganization of its data management group and start a new data governance program. Cutter assisted the superannuation fund with the roll out of data governance to establish clear accountability for data quality with a set of data stewards. This governance plan was aligned with group plans and helped focus governance efforts across the firm.

As the new approach to governance takes hold, the front office will benefit from improved data quality, and our client will be able to focus its efforts away from data and toward analysis. Our client will continue to work to improve its data warehouse and develop appropriate marts for the front office team in order to develop its planned analytics environment.

Want to speak with a Cutter consultant to learn more about this topic or how we can help you? Contact us at connect@cutterassociates.com.