Data Management Team

Julian Dorado, M&G Investments Interview: Data Management Team and Function

Julian Dorado, Head of Data Management, M&G Investments, attended FIMA to talk about the profile of the data management team at M&G Investments, but also in the context of financial organisations.

Julian also discusses the changes in the requirements of a data management function over the last few years.

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Transcript:

Interviewer: So thank you very much for joining us today Julian. Perhaps if you could tell us a bit more about who you are and how you fit into M&G?

Julian Dorado: So I’m Head of Data Management for M&G. I guess we’re here today to talk about the profile of the data management team at M&G, but also in the context of financial organisations. So that’s really why we’re here.

Interviewer: So really where are the issues in data management staffing?

Julian Dorado: I think it’s not so much there are issues in staffing. I think there’s been a significant change in the requirements of a data management function over the last few years. Some of that has been regulatory driven. But also demands from clients and also the market volatility has really raised the profile, certainly in our organisation, of data management. I think we’re seeing that across the market.

Interviewer: What have been the key challenges?

Julian Dorado: I think firstly it’s recognition and profile of the data management function. I guess historically they have been imbedded in back office administration and operations. But clearly interfacing with the regulator, front office environments, the role and responsibilities of data management function have really gone up the organisation in terms of priority.

Interviewer: I suppose it must be much more of a strategic type department now than it used to be.

Julian Dorado: Certainly, I think when we look at projects and plans and road maps that we have over the next two to three years and certainly over the last couple of years, they’ve been dominated by data management. Whether they’re infrastructure delivery, development of business process or acquisition of data, all of those things are aligned to business priorities. But also the regulations that we’re seeing coming to financial institutions like ours.

Interviewer: So you’re going to be talking later about developing talent. What specifically is it that you’re now looking for that’s different to how it used to be within the data management sector?

Julian Dorado: Yes, as I said earlier, I think when data management was imbedded in back office operations the types of resources that were required were very different to what we now demand as data management practitioners. We need people that understand the IT, they understand the business that we’re delivering data to. But also understand the market and what changes are taking place within the data environment that we’re working in.

Interviewer: So what approach are you taking then to find that talent?

Julian Dorado: Yes I mean that’s a good question. I think certainly within our organisation we’ve got graduate programmes that we’ve had for a number of years. Data management has certainly benefitted from being part of that. We’ve spent a lot of time with our recruitment teams and recruitment agencies to describe exactly what data management is all about. Hopefully by describing the breadth and diversity of data management functions that can start to attract the talent within the market, because certainly there’s a demand there.

Interviewer: Regulations have perhaps been one of those things that whilst it never goes away, it’s more highlighted than ever right now, particularly in light of all the various financial crisis one could say. How has that affected the data management sphere?

Julian Dorado: I think it’s another stream of demand into us, certainly within our organisation, we interface with our business but also having to couple that with the regulatory demands. That’s seen us spend a lot of time making sure that the various projects and our team are aligned to what we need to do over the coming years. I think the regulatory change for an organisation like ours is across all of our product types. A lot of what’s being asked is also what the clients are asking us as well. Data management is really up front and centre in terms of meeting that demand.

Interviewer: So overall do you think the regulations are actually going to streamline things as everyone has to work in the same way going forward? Or do you think it’s simply going to make things more complicated?

Julian Dorado: I think there will be complexity in delivering to the regulations. I think clearly organisations operate and work differently. But certainly there is an underlying principle around what the regulator is trying to get financial institutions to deliver. So there will be some alignment. I guess that’s why conferences like this are useful in terms of sharing thoughts and ideas around the regulatory changes that are out there.

Interviewer: I suppose on a similar note standardisation’s one of those things everyone has been talking about. How close are we to true perhaps even cross-market standardisation? Is that something we can expect to see anytime soon?

Julian Dorado: I guess in my view I think that’s work in progress and it will take time to align. As I say financial institutions work and operate very differently. That doesn’t mean that we shouldn’t continue to pursue it. Certainly in areas like issuer hierarchies and counter-party exposures etc there does need to be some continuity across the market. So in terms of the principle of what’s being worked on, absolutely. In terms of the execution against it I think it will be challenging.

Interviewer: Well thank you very much. It’s been a pleasure speaking to you today. I look forward to seeing you later on in the session.

Julian Dorado: Thanks very much.

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