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Efficient data management: optimizing Lord Abbett's ratings process

Efficient data management: optimizing Lord Abbett's ratings process

Finance

Efficient data management: optimizing Lord Abbett's ratings process

About this project

We developed a comprehensive daily process designed to fetch, normalize, validate, and store ratings data from multiple rating agencies. Due to the varied protocols and formats used by different providers, we created a flexible, metadata-driven tool. This tool enables users to select and configure the appropriate connection protocol for each provider, including FTP, SFTP, SOAP, and REST (both HTTP and HTTPS).

scope

Software Development

Region

New Jersey, United States of America

Project team

4 Developers

4 Developers

1 Devops

1 Devops

Tech stack

Java

Java

Hibernate

Hibernate

Azure SQL Server

Azure SQL Server

About Lord Abbett

Since its founding in 1929, Lord Abbett has maintained a singular focus on managing money. As an investment-led, investor-focused firm, Lord Abbett evaluates every decision from an investment perspective, striving to achieve superior long-term investment performance for its clients. The firm currently manages over $140 billion in assets.

client picture

~$199B

assets under management

184

investments professionals

200+

institutional clients

51

partners

The challenge

  • Normalization of ratings data

    Different rating agencies provided data using various protocols and formats, making it difficult to standardize and integrate the information.

  • Inconsistent data release frequencies

    Agencies differed in how often they released data, ranging from daily updates to full data sets on a monthly or major update basis.

  • Lack of standardized APIs

    The absence of a unified API among data providers required a flexible, metadata-driven tool that could adapt to each provider's unique setup.

  • Configuration complexity

    The need to support various connection protocols, data normalization algorithms, and identification of unrated securities demanded a highly configurable solution.

  • Regulatory compliance

    Ensuring that all rating data was handled consistently and auditable was crucial to meet government regulations.

The solution

Given the absence of standardized data formats among providers, the tool was engineered to be highly adaptable. Users can configure how data is normalized, how unrated securities are identified, and select different strategies for handling data updates, such as daily patches or monthly full universe updates. Additionally, the tool includes robust auditing capabilities, ensuring that all rating data is managed consistently and complies with government regulations. This solution provides a reliable and scalable framework for managing ratings data across multiple providers, addressing the unique challenges posed by the lack of standardization in the industry.

Flexible metadata-driven engine

Flexible metadata-driven engine

We designed a metadata-driven engine capable of adapting to the diverse protocols and formats used by different rating agencies. This flexibility allowed the tool to normalize and integrate data consistently, regardless of the source.
Customizable data update strategies

Customizable data update strategies

To address the inconsistent data release frequencies among agencies, we implemented a range of data update strategies. These included daily patches, monthly full universe updates, and hybrid approaches. Users could easily combine and configure these strategies through a user-friendly interface, ensuring that the most up-to-date information was always available.
Multi-protocol support

Multi-protocol support

Recognizing the varied connection protocols required by different agencies, our solution supported a wide array of protocols, including FTP, SFTP, SOAP, and REST (both HTTP and HTTPS). This ensured seamless connectivity and data retrieval from all providers.
Built-in auditing and compliance

Built-in auditing and compliance

To meet regulatory requirements, we integrated robust auditing features into the tool. These features ensured that all data handling processes were fully transparent and auditable, providing the necessary documentation and traceability to comply with government regulations.

Project workflow overview

workflow
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