Having considered feedback provided in the Process, Roles and Responsibilities (PRR) Market Consultation earlier this year, the London Market Group’s Data Council has now published its PRR Final Recommendations.
This key deliverable sets out the final recommendations for a fully digital open market placement process, and the allocation of roles and responsibilities for the creation, approval and submission of data into the Core Data Record (CDR) and the processing of that data. The focus is on who performs specific tasks, and when these tasks will occur.
Recap of timeline of events
Initial recommendations
Following the near completion of the CDR, the LMG Data Council put together some recommendations for what the new processes, roles and responsibilities could look like within the target-state data/digital journey.
Market consultation
The LMG Data Council ran a consultation process to sense check the recommendations against the business outcomes required by the market, and to understand if the processes will address previously identified pain points and opportunities for increased operating effectiveness and efficiency.
Final recommendations
Having considered the feedback provided in the market consultation, the LMG Data Council have published their Process, Roles & Responsibilities Final Recommendations.
