Michael Atkin, Managing Director, Enterprise Data Management (EDM) Council
This is a purely data-driven technology focused methodology. DCAM is trying to act as an industry-wide point of reference and 'how to' guide for data professionals.
The methodology is a synthesis of data management best practice. Banks, traders, asset managers - even infrastructure providers and others - can score themselves against it to gauge the quality of their data.
DCAM maps to the data architecture, quality and governance concepts expressed in BCBS 239. This is a set of principles for risk data aggregation set out by the Basel Committee for Banking Supervision (BCBS) and is part of its efforts to impose a strong "data control environment" on capital market participants, so that they can meet their enhanced post-crash reporting obligations and enforce global financial stability via better transparency.
BCBS 239: Key risk data aggregation rules
Adherence to the BCBS 239 risk data aggregation principles is mandatory and is one of the key forces driving financial institutions to implement data management improvement programmes across their enterprise.