Embracing Change: Financial Informatics and Risk Analytics

Quantitative Finance, Volume 9, Issue 3, 2009, pp. 243-256.

33 Pages Posted: 17 Aug 2006 Last revised: 15 Jun 2016

Mark D. Flood

Government of the United States of America - Office of Financial Research

Date Written: July 1, 2006

Abstract

We present an enterprise design pattern for managing metadata in support of financial analytics packages. The complexity of financial modeling 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 lifecycle.

Keywords: financial risk modeling, contractual terms and conditions, metadata, ontology, enterprise design patterns

JEL Classification: G10, C63, C88

Suggested Citation

Flood, Mark D., Embracing Change: Financial Informatics and Risk Analytics (July 1, 2006). Quantitative Finance, Volume 9, Issue 3, 2009, pp. 243-256.. Available at SSRN: https://ssrn.com/abstract=924618 or http://dx.doi.org/10.2139/ssrn.924618

Mark D. Flood (Contact Author)

Government of the United States of America - Office of Financial Research ( email )

717 14th Street, NW
Washington DC, DC 20005
United States

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