Information and Communication Technology - Guideline 66. Master data lifecycle management
The institution puts into practice specific processes to manage change, maintenance and the evolution of the master data system.
As the master data model is at the core of the institution’s information systems and is used by many systems, change and evolution have to be managed to minimize impacts and service disruptions. Therefore, the information model of the master data system should reflect the concepts used throughout the institution.
In addition, although the master data model and its implementation are considered to be stable, some maintenance operations will need to be executed. These operations should be part of the continuous improvements in the institution. Institutions should consider master data maintenance as part of the master data management activities. These activities will guarantee that the master data are updated, including integrity rules associated with the master data model.