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Embracing change: financial informatics and risk analytics 

Author: Mark D. Flood a
Affiliation:   a Senior Financial Economist, US Federal Housing Finance Agency,
DOI: 10.1080/14697680802366037
Publication Frequency: 8 issues per year
Published in: journal Quantitative Finance, Volume 9, Issue 3 April 2009 , pages 243 - 256
First Published: April 2009
Formats available: HTML (English) : PDF (English)
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Abstract

We present an enterprise design pattern for managing metadata in support of financial analytics packages. The complexity of financial modelling typically requires deployment of multiple financial analytics packages, drawing data from multiple source systems. Business domain experts are typically needed to understand the data requirements of these packages. Financial product innovation and research advances imply that data requirements are chronically unstable. These forces of complexity and instability motivate a software architecture that exposes financial metadata declaratively, thus allowing on-the-fly metadata modifications by domain experts, without provoking a costly design-develop-test-deploy life cycle.
Keywords: Risk management; Financial informatics; Model risk; Metadata; Ontology; Terms and conditions database
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