Case Study of the DMM: Protecting Your Economy with Data Management

The Statistics Function of the Federal Reserve Bank strives to be the Center of Excellence for data collection for banking data. It provides expertise and services for collections (formatted reports) from regulated bank holding companies and other financial institutions. It is responsible for over 70 collections used to: monitor safety and soundness of a regulated entity; set monetary policy; provide cross-border information; and ensure banking regulations compliance. Internal customers include: Bank Supervision; Credit and Payment Risk; Markets; and Research. External customers include: FRS Board (Monetary Affairs, International Finance), Treasury, Banking and Federal Agencies, and the private sector.

Statistics’ key value is quality and timeliness of the data provided to the data consumers. Statistics selected the Data Management Maturity Model as the instrument to measure its internal processes, validate strengths, and discover opportunities to leverage its expertise and services to its stakeholders.

Kenneth P. Lamar is the senior vice president in charge of the statistics function of the Research and Statistics Group at the Federal Reserve Bank of New York. He has been a vice president since January 2003 and assistant vice president since December 1995, both in the same area. Mr. Lamar joined the Bank in February 1980 and held various positions in the domestic reports division. In March 1993, he was named an officer of the Bank and assigned to the domestic and regulatory reports department.

Ms. Mecca, CMMI Institute’s Director of Data Management Products and Services, led development of the Data Management Maturity (DMM) SM Model. Her team created a fast-paced, interactive method for assessing an organization’s capabilities with the DMM, and she has led seven Assessments for organizations in the financial, Federal, and technology industries. She managed the industry peer review of the DMM, harmonizing the contributions of 70+ SMEs, and directed creation of the DMM Introduction, Advanced Concepts, and Enterprise Data Management Expert (EDME) courses leading to DMM certification. In 30+ years solving enterprise data challenges, Ms. Mecca has architected and implemented data management programs, data strategies and architectures, and enterprise data services. She teaches DMM courses, presents webinars and case studies thru DataVersity and Data Driven Business, and recently presented at conferences including EDW, DGIQ, WDG, CDO Forum, and Risk Data Governance and Aggregation. She is a strong advocate for data management excellence with a passion for assisting organizations to realize business value via the DMM.