With the passing of the Dodd–Frank Wall Street Reform and Consumer Protection Act in July 2010, the Commodities and Futures Trading Commission (“CFTC”) has been granted broad oversight and authority to write a new set of regulatory rules to govern the derivative swaps marketplace, with the potential for large impacts to the energy industry.
Although the deadline for the Dodd-Frank rules finalization was extended to the end of 201,; a substantive set of the provisions of the Dodd-Frank Act can be assessed now.
Energy companies have enough information for several proactive cost minimizing and risk mitigation strategies to best address the Dodd-Frank regulations and requirements.
How Noah Consulting Can Help?
Dodd-Frank requirements, distilled, are about (1) data readiness and (2) availability. Is the data being captured and can it be reported in an accurate and timely manner?
Noah Consulting services provide the best way for our clients and their data to be prepared:
- Conduct a data assessment and impact analysis across the organizations from IT systems to business processes
- Determine where the gaps in the data exist.
- Assess what Master Data Management impact exists.
- Data quality – ensuring the data is structured, consistent, and accurate.
- Determine data management procedures and determine enhancement to maintain high data quality throughout the lifecycle.
- What transactional and Business Intelligence systems will be impacted?
- Produce a Dodd-Frank decision tree, utilizing Noah's data management approach, in identifying the best preparation options available.
- Optimize delivery of the needed information management solutions and execute the necessary change management.
- Show the potential impacts of decisions made following the decision tree.
- Develop a data management strategy and implementation guide to address Dodd-Frank requirements.
- Determine what proactive steps must be taken while minimizing the potential for unnecessary expenses against current budgets.
- Provide a combination of short-term tactical steps that can be taken to ensure quick compliance as well as long-term solutions to provide added efficiencies to reduce year-to-year costs.
Why Noah Consulting?
Noah provides a straightforward guide to best prepare our clients by providing clarity around the current rules and addressing the requirements utilizing a comprehensive data management plan.
- Noah consultants have a proven Dodd-Frank track record with two of the five largest energy swap market participants in the US.
- Noah's strong background in information and data management strategies and solutions provides the experience neccessary for energy organizations to navigate the Dodd-Frank data requirements.
- Noah's data management strategies will identify additional return on investments that can be leveraged in having to meet the Dodd-Frank regulations.
