The next generation of operations: Evolving beyond data collecting to data quality and analytics - The journey of one financial regulator

Barbara Vouté and Karl Eiholzer
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Barbara Vouté: Former Director, Market Practices in the Municipal Securities Rulemaking Board, USA
Karl Eiholzer: Director of Product Management, Municipal Securities Rulemaking Board, USA

Journal of Securities Operations & Custody, 2020, vol. 12, issue 3, 286-293

Abstract: Industry participants have long equated firm ‘operations’ with back office, manual processing and data collection functions. Operations in the digital age have expanded and transformed to encompass increasingly complex data management and process improvement functions. Today’s operational professional must maintain technical and business expertise to best utilise and aggregate essential data that enhances a firm’s ability to service its clients, keep up with regulation and remain competitive. Firms feel increasing pressure to abandon their legacy systems and move towards digital systems, including cloud software and services. There is more capacity for machine learning and artificial intelligence that could provide firms with new analytical capacity and decrease the need for more labour intensive, specific programming. As a selfregulatory organisation for the US$4.1 trillion United States municipal securities market, the Municipal Securities Rulemaking Board faces many of these same operational challenges, and the Board’s journey to join the digital age is not unlike the journeys of those they regulate.

Keywords: municipal securities; artificial intelligence; machine learning; cloud; data management; MSRB; analytics; operations (search for similar items in EconPapers)
JEL-codes: E5 G2 K22 (search for similar items in EconPapers)
Date: 2020
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