Jeanne Ross, Director at MIT Sloan School of Management and author of "Enterprise Architecture as Strategy" wrote this case study about my work at PSP.
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The Information Based Organization: Learning how to work smarter at PSP Investments
November 12, 2010
This research was made possible by the support of CISR sponsors and patrons.Peter Reynolds, Cynthia Beath and John Mooney contributed to this research.
Working smarter through information managementat PSP Investments
Public Sector Pension Investment Board of Canada, founded 2000– Fiscal Year 2010 Net Assets C$43.6B– Statutory goals: manage funds in the best interests of contributors and
beneficiaries, maximizing investment returns without undue risk of loss How PSP works smarter:
– Focus on clean data enterprise-wide as PSP moves from a diversified to a coordinated operating model
Need to understand full portfolio to manage exposure risk, evaluate opportunities, and measure performance to be effective at active investment management
Need accurate and consistent financial reporting Need consistent transaction and position data for business unit level
analysis and decision making
– Enablers: Enterprise architecture: business function model, business information
model, and enterprise data bus as part of a Service-Oriented Architecture Organization structure and roles: governance, data stewardship,
business integration team and data quality & optimization team
PSP’s organization for working smarter Governance committees for each of the six business functions
– Project governance in accordance with target architecture– Portfolio prioritization which data is cleaned and mastered next
Data quality and optimization team – across the organization– Monitors data quality– Fixes exceptions as per PSP rules
Business integration unit – outside of IT– Data governance (prior experience showed IT should not be responsible for
this)– Oversight of process governance– Has credibility to work with both IT and business groups
Data stewards are accountable for a given piece of information. Is “last gate”: person who must say the data is right; often the producer.– Example: transaction data: trader writes raw transaction, counterparty vets
it to make it a master executed transaction, and back office transforms it into a confirmed transaction. Different entities, so different data, and different stewards, even though in most cases the physical data about the transaction is unchanged.
– External data (e.g. Bloomberg) has no steward, as PSP can’t fix its errors