Now, more than ever, the ability to effectively and efficiently manage enterprise data is a differentiator for asset managers as they strive to stay relevant within an increasingly competitive and more highly regulated environment. Data can no longer be isolated to one specific business function. Data is shared across the enterprise, making it a corporate asset that is required to be ‘fit for purpose’ at the corporate level to meet regulatory, competitive, industry and client demands. This means the days of managing data within silos is over.

But firms are faced with a fragmented view of their data, both functionally and technically, and a starting point of disparate processes and IT systems. Firms are coming to the realization that they need to find a way to govern their shared data at an enterprise level without adding to operating costs or impacting the productivity of each business function. However, many firms do not know where to begin because most don’t have a holistic view of their data. Because of that, asset managers are attempting to get their data house in order.

To maximize the value and minimize the risk associated with your firm’s data, it is imperative that you understand who is using the data and how are they using it. Leading firms are focusing on the “blueprint” – ensuring they have a sound strategy and design before they start renovating. It all boils down to one thing in the end – how badly do you want to achieve a data-centric culture?

To learn more about the consulting services Olmstead offers in supports our clients’ Data Management initiatives and their journey to data-centricity, read below:

How can Olmstead help?

Using our proven tools and methodology, we work closely with business and IT stakeholders to understand the current state, design a target future state operating model, and identify gaps. Additional outputs include an actionable implementation plan.
Our experts rate your firm's readiness to successfully establish a data governance framework using a tool compiled based on experience and multiple client engagements. The primary deliverable is a readiness scorecard and suggested remediation plan.
We do not subscribe to the "build it and they will come" philosophy. Our experts will apply experience and a proven proprietary technique to stand up a "right-sized" data governance organization for your firm quickly and seamlessly.
Your IT systems should be enablers not drivers. We work with your IT stakeholders to ensure your future state Data IT Architecture strategy aligns with the business strategy. Our experts advise on optimal architectures and help select and implement third party systems.
Whether you choose an internal build or implement a third party data governance tool such as Collibra, Infogix, Erwin, Informatica or custom built solutions, Olmstead can provide the required skills and experience to map, configure and migrate your data, metadata and lineages.
 Measuring data quality is less of a challenge than measuring the business impact of poor data quality. Over decades, Olmstead has formulated a set of data quality operations metrics for measuring, reporting, and managing the business impact of poor data quality.
Olmstead will employ a proprietary tool to conduct a point-in-time assessment of the readiness of your data for a planned system implementation. Outputs include a scorecard for all data in scope, ranking of key implementation data risks and proposed mitigation tactics.
Mergers & Acquisitions, Outsourcing Investment Operations, Consolidating IT systems, and moving to a cloud based solution provider all have one thing in common – a data migration need. We will leverage our tools and expertise to ensure your data migration is well-planned and executed.
Olmstead will apply our proven framework, use cases and expert knowledge to efficiently lead your team through a vendor selection process from RFI through vendor scoring and contract negotiations (if desired). We have worked with the leading providers and are vendor agnostic. We have led system selections including more than 15 leading solutions across North America and Europe.
Our targeted system experts have over 20+ years' experience with popular MDM systems. We will provide BA, PM and implementation support for your system implementation. Our team has worked extensively with the leading native and cloud-based providers.
Whether your firm is implementing a new Performance system, Client Reporting system or consolidating Trading Platforms into a "hub", our data analysts and BA's will help ensure data requirements are fully vetted and documented to mitigate implementation risks.
Increasing Front Office and Regulatory demands for data require a robust and consolidated IT environment. Our industry experience and leading practice will design and implement an optimal IT architecture including a Warehouse and Marts.

Olmstead's Data Management Service Model


Client Testimonial

“Olmstead’s data centric approach has been instrumental in assisting us with the assessment, design, and development of a technology platform to support the requirements under the SEC Liquidity and SEC Modernization rules. Because of this approach, we are ahead of schedule in our infrastructure build out and workflow preparedness.”

What your peers are asking:
  • How are we managing our mounting technical debt?
  • How can we implement data governance in a manner that our organization can embrace?
  • What does digitization mean to us?
  • How we do maintain control of our data if we outsource our operations?
  • How can our organization harness our data to create the optimal Prospect & Client User Experience?
  • Do our internal and external clients truly want ‘anytime, anywhere’ access to their data?

Olmstead is a certified DCAM implementation partner of the EDM Council


 Olmstead is guiding a mid-tier investment manager's Portfolio Analytics team through the design and selection of a data warehousing solution with the end goal of automating and scaling their client pitch books and enhancing their client reporting capabilities. Olmstead has established an Agile methodology, including new processes and new tools (Jira, Symphony, BOX). Olmstead has lead the project kick off, educated the client, and coached the client throughout the process. Our team has managed the Agile process, including building and managing Kanban Board, Sprint Planning, Sprint and Story management, and daily scrum meetings. The project has also included Resource planning and management, resulting in burn rates and load balancing reports.
Our Client had spent five years implementing new solutions for areas including trading, accounting, collateral management, performance and attribution. Each new solution created a new "island of data" for the business which resulted in additional complexity in the environment and confusion about which data to use or trust. Olmstead was engaged to design and manage the implementation of a strategic data management platform and data governance program. The approach introduced an enterprise data architecture coupled with the rollout of a comprehensive data governance program and an integrated data information access portal.
 Olmstead was asked to evaluate the scope of effort that a large Investment Management firm required to comply with the October 2016 SEC Modernization Act requiring RIC's to provide enhanced reporting and disclosures beginning June 2018. Olmstead's approach included conducting an "As-Is" assessment of their data environment including the IT architecture, data flows, Operations and Reporting. Olmstead then worked closely with IT and business stakeholders to define a future state business and IT architecture to support the new reporting requirements which surfaced gaps versus current state. We also delivered a detailed N-PORT and N-CEN data gap analysis down to the field level specific to the client. The gaps were used to build a roadmap and supporting resource and cost estimates which enabled the client to quickly seek executive approval to begin the project, without risk of delays and limiting risk of meeting their regulatory deadlines.

See more samples of Current & Recent Data-Centric Engagements


 Asset managers are tackling a bevy of new data-related requirements, driven by clients, boards, global regulators and the FinTech disruptors. Many buy-side firms have responded by embarking on operational and technological transformation projects. Some have focused on data access and delivery, upgrading legacy data architectures using hubs, virtualization, warehouses, or data-as-a-service (DaaS); others are tackling costs and efficiency by taking advantage of newer technologies such as machine learning, robotics, and various forms of artificial intelligence (AI). As they institute these initiatives, investment managers also discover new bedrock needs: enhanced data governance, integrity and controls.  Read More
There has never been any greater need for Investment Management firms to optimize the management, delivery and reporting of their enterprise data. Firms are being driven to reconsider their business models and adapt architectures and IT systems to accommodate several new factors affecting the industry.  All these factors, be it product innovation, the shift to passive, new regulations, raised client service expectations, or fee compression, converge on one thing...  Read More

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Scott Knous – Managing Director, Data Management
Scott’s LinkedIn Profile

Scott is a Managing Director, leading Olmstead's Data Management consulting capability. He is an industry expert with more than 29 years of experience in the financial services industry. The majority of Scott’s career has been spent helping firms overcome people, process, and IT challenges impacting the value they receive from data. He offers a unique perspective, having worked for the Buy Side as well as with its counterparties, IT/data vendors, and outsource service providers. Scott’s data expertise also spans the investment lifecycle, enabling him to quickly relate to business drivers for the front, middle, and back office. He has successfully delivered engagements, including data strategy, IT architecture, IT systems and outsource provider selections, data governance, data quality operations, reporting and regulatory reporting.  

Scott is a thought leader and has challenged the way firms think about data quality measurement, establishment of data governance, and achievement of a data culture. He has authored thought leadership pieces and presented at industry events, including FTF, FIMA, TSAM, SIFMA, ISITC, SIBOS, and he has been a long-time member of the EDM Council.

Prior to joining Olmstead Associates, Scott’s roles included serving as Data Management Practice lead at InvestTech Systems Consulting. Prior to that, he was Director, Data Management and Control at Liberty Mutual Investments and a Director in PwC’s Asset Management Practice. Scott has a B.A. in Economics and German from Lake Forest College and a Masters in Finance from Bentley’s McCallum Graduate School of Business.
Olmstead Associates is a leading specialized consulting firm to the investment management industry. For over 20 years, Olmstead has provided consulting expertise to help investment managers plan for, select, and implement solutions. Our Operations, Technology, and Data experts, proven methodologies, and leading edge tools help inform our clients to make better decisions and lower project risk.
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