AWS for Industries

AWS contributes to development of EDM Council’s Cloud Data Management Capabilities framework

EDM Council, a global trade association for data management and analytics, recently published the Cloud Data Management Capabilities (CDMC) framework for managing data in the cloud. AWS, along with other cloud service providers and technology and consulting firms, as well as several leading financial services institutions, participated in an 18-month long working session to develop the framework. While initially targeted for financial services, the CDMC framework is applicable across industries, and provides a comprehensive set of cloud data management capabilities, standards, and best practices for migrating data to the cloud.

The history of the CDMC working group

Co-chaired by Morgan Stanley and London Stock Exchange Group (LSEG), the CDMC working group was formed in July of 2020 to develop an open-source framework to accelerate cloud adoption and automate end-to-end cloud data management controls. The framework is based on EDM Council’s Data Management Capability Assessment Model (DCAM®), a formal framework used to assess a firm’s data management capabilities. While the CDMC initiative initially focused on the financial services sector, it has expanded cross-industry to help companies across multiple industries navigate the complexity of cloud adoption, particularly in the wake of COVID-19 as more and more companies accelerate digital transformation and leverage new data management practices.

What the CDMC framework entails

The CDMC framework is composed of six components, 14 capabilities, and 37 sub-capabilities that allow companies to effectively manage their data within their cloud environments. The six components encompass data governance and accountability, cataloguing and classification, data accessibility and usage, data protection and privacy, data lifecycle, and technical architecture. The CDMC framework includes tools, training, and certifications and is available as a free license to both EDM Council members and non-members. EDM has engaged regulators across the U.S., Canada, the U.K., Europe, Australia, and Singapore to help ensure the framework complies with local laws and regulations.

According to Scott Mullins, Director of Business Development for Financial Services at AWS, “as the cloud increasingly becomes a foundational component of emerging business models, the CDMC framework will be a valuable resource for accessing comprehensive and up-to-date best practices for data management, not only in the financial services segment but across all industries. AWS is proud to have contributed to the development of the framework and looks forward to continuing to support this collaborative effort.”

Going forward

AWS continues to participate in the CDMC go-to-market activities, including embedding CDMC controls into our platform and creating advisory services to support ongoing training and assessments of customer cloud environments.

To learn more about EDM Council, visit edmcouncil.org. To read more about the launch of the CDMC framework, view the press release here.

Elizabeth Marshall

Elizabeth Marshall

Elizabeth Marshall is the industry marketing lead for the Insurance segment at AWS. Prior to joining AWS, she spent several years in marketing at various financial services firms, including American Express and MetLife, as well as time in product marketing at Salesforce.

Jennifer Code

Jennifer Code

Jennifer Code is a principal for financial services cloud governance with AWS. In her role, she supports financial services organizations in understanding how to streamline control processes and leverage automation to govern their most sensitive workloads.