David Newman

Strategic Planning Manager, Senior Vice President, Enterprise Architecture
Wells Fargo

David Newman is Senior Vice President and Strategic Planning Manager of Enterprise Architecture and IT Strategy at Wells Fargo Bank. David also chairs the Semantic Technology program for the Enterprise Data Management (EDM) Council and leads the Council’s efforts to develop ontologies for the financial industry known as the Financial Industry Business Ontology (FIBO). FIBO is a free and open source ontology that semantically describes business entities, derivatives, securities, loans, corporate actions and metadata. FIBO is being developed as the next generation global financial data standard. FIBO can be used to support macro-prudential and institutional risk management, regulatory compliance and reporting, risk analytics, as well as serve as a foundational set of semantic building blocks for enterprise data models and taxonomies. It therefore provides a solid basis for strategic fulfillment of BCBS-239. David is also responsible for the working group that is developing executable reference ontologies that demonstrate FIBO’s many advanced capabilities. In addition, David is starting an initiative to position elements of FIBO to be available for semantic markup of financial content for internet sites through a collaboration with Google, Yahoo and Microsoft. David is a frequent speaker at industry conferences on semantic technology as well as at regulatory and academic conferences on systemic financial risk. At Wells Fargo, David focuses on emerging technologies and innovation initiatives and leads the Wells Fargo Semantic Technology Community of Interest.

Check out the incredible speaker line-up to see who will be joining David.

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Data Management, Regulations & Compliance

Sunday, January 4th, 2015

13:30 FIBO The Next Generation Data Standard For The Financial Industry

The recent financial crisis triggered loud distress calls from the regulatory authorities and the financial industry to get our data house in order by adopting a common financial language. The industry needed a better way to describe financial instruments, concepts and terminology over what we had previously been doing using conventional approaches. The members of the Enterprise Data Management Council responded by developing the Financial Industry Business Ontology (FIBO). FIBO provides a common language using semantic capabilities to describe financial business concepts in ways that both humans
and machines can understand. FIBO will provide the ability to semantically define and process data related to the structure and relationships associated with business entities, equities, securities, derivatives, loans, debt instruments, prices and financial processes. FIBO provides financial industry participants with capabilities to address risk and regulatory obligations (including the BCBS-239 Risk Data Aggregation Principles) as well as to harmonize data in support of internal operations. The underlying structure of FIBO includes foundational data concepts that will help organizations build their own ontologies and better manage the current explosion of data complexity.
o Why FIBO is so important to your firm and to regulators
o Understanding how FIBO uses semantic technology to describe business concepts, especially financial contracts
o Looking closer at how FIBO will be applied on the internet
o Exploring how your organization can use FIBO now
o How your organization can participate in the development of FIBO

14:30 Interactive Roundtable Discussions:

Interactive Roundtable Discussions: Since the earlier part of the day was jam-packed with detailed presentations and thought-provoking panel discussions, here’s your opportunity to be part of the discussion! Sit with many of the day’s speakers to ask questions about their presentations, share your thoughts, and dive deeper into your challenges. Additional roundtable topics not yet discussed in the earlier sessions are available too. You pick which roundtables to partake in – choose the ones relevant to your most pressing initiatives and send your team mates to others to cover full ground. Each Roundtable discussion lasts 20 minutes – choose 2!

1. Principles & Risk: BCBS 239 - Engagement And Execution, Will You Be Ready?
Brian Buzzelli, Executive Director, Head of Enterprise Data Management, Americas, Nomura America Services

2. FIBO The Next Generation Data Standard For The Financial Industry
David Newman, Strategic Planning Manager, Senior Vice President, Enterprise Architecture and IT Strategy, Wells Fargo

3. Semantic Technology And Financial Standards: Creating Synergy Between Data Analytics And Regulatory Compliance
David Saul, Senior Vice President and Chief Scientist, State Street Corporation

4. Innovative Approaches For Risk Data Aggregation And Risk & Regulatory Reporting
John A. Bottega, Senior Advisor & Consultant, EDM Council

5. Addressing Your Entity Data Challenges in a Consolidated Way
Mark Davies, Managing Director, Avox
Mathew Lewis, Head of Client Engagement, Integration & Partnerships, Clarient Global LLC