Create Data Quality Validation Rules
You can create a data quality validation rule to monitor the quality of positions, entities, securities, cash activity, FX rates, and prices. You can also compare the cash activity, position, and FX rate update date to the performance update date.
To create a data quality validation rule:
From the Performance Center window, click Setup and click Validation Rules in the left navigation.
You see the available validation rules in the workspace displaying fail status, rule name, process stage, stage detail, error code, test, and other parameters.Click Create New on the ribbon.
You see the Creating New Validation Rule workspace in a new tab.Enter a Name and a Description.
Click the Process Stage drop-down list and select Data Quality.
You see the Stage Detail drop-down list change.Click the Stage Detail drop-down list and select a stage detail.
Options include:
– Cash Activity (default). Checks the cash activity database for data such as flow amounts, transaction types, and quantities.
– Entity Reference. Checks entity reference data such as inception dates, currencies, and benchmarks.
– FX Rates. Checks the FX rates between composites and their constituents, as well as between portfolio entities and their benchmarks.
– Performance Commit. Checks for client side commits done for an entity based on effective date and frequency.
– Performance Data. Checks the performance database for data such as benchmark returns and existing portfolio returns.
– Position. Checks the holdings database for position market value amounts, long or short position, and missing market values.
– Price. Checks the security database price data for issues such as price changes and missing prices.
– Security Reference. Checks the security database for security classification and reference data such as investment type and base currency.Click the Error lookup icon and select the error code. Or, click the ellipsis to view error code details and make a selection.
NOTE: You can add and manage error codes in the Automation Center's Exceptions workspace.Click the Tests drop-down list and select a user defined test or a system defined validation test. The test options vary depending on the stage detail you select.
When you select a test, you see the logic associated with the test.If you selected a system defined validation test, go to step 11.
If you selected a user defined test, click the Define button.
You see the Logic Builder.Enter the operators, field attributes, values, and other parameters necessary to define the test.
NOTE: You can construct validation rules using metadata field attributes available in the logic builder.Click Save and Close.
You see the logical expression in the Validation Rule dialog box.Click Save.
You see a message confirming that the validation rule was saved.
Create Calculation Status Validation Rules
You can create a calculation status validation rule to focus on the performance calculation process itself by providing important information at various calculation checkpoints. You can specify performance models, materiality checks, commit tolerance checks, and return statuses.
To create a calculation status validation rule:
From the Performance Center window, click Setup and click Validation Rules in the left navigation.
You see the available validation rules in the workspace displaying fail status, rule name, process stage, stage detail, error code, test, and other parameters.Click Create New on the ribbon.
You see the Creating New Validation Rule workspace in a new tab.Enter a Name and a Description.
Accept the default Process Stage of Calculation Status.
Click the Stage Detail drop-down list and select a stage detail.
Options include:
– Performance Commit (default). If you select this option you see the Test drop-down list with system defined tests.
– Return Calcs. If you select this option you see the Test drop-down list with Performance Return Check, a user defined test.Click the Error lookup icon and select an error code from the drop-down list. Or, click the ellipsis to search and make a selection from available errors.
NOTE: You can add and manage error codes in the Automation Center's Exceptions workspace. See Manage and Resolve Exceptions in Automation Center.If you selected Performance Commit as the Stage Detail, click the Tests drop-down list and select a system defined test and then go to step 12. The test options vary depending on the stage detail you select.
When you select a test, you see the logic associated with the test.If you selected Return Calcs as the Stage Detail, click Define to build a Performance Return Check.
You see the Logic Builder.Enter the operators and other parameters necessary to define the test.
NOTE: You can construct validation rules using metadata field attributes available in the logic builder.Click Save and Close.
You see the logical expression in the Validation Rule dialog box.Click Save.
You see a message confirming that the validation rule was saved.
Manage Validation Rules
While viewing a heat map, you can create a new validation rule. When you select an individual result at the lowest drill down level, you can also view and edit the underlying validation rule.
To create a validation rule:
From the Performance Center window, click Performance Desk and click Data Quality Monitor in the left navigation.
You see the Data Quality Monitor workspace displaying the last viewed heat map.In the heat map select Create New from the ribbon.
You see the Creating Data Quality Rule workspace in a new tab.Click the ellipsis next to Create/Edit Validation Rule.
You see the Validation Rule dialog box with a red asterisk indicating the required fields.Complete the required fields for a Data Quality or Calculation Status validation rule.
Click Save.
You see a message confirming that the validation rule was saved.
To edit a validation rule:
From the Performance Center window, click Performance Desk and click Data Quality Monitor in the left navigation.
You see the Data Quality Monitor workspace displaying the last viewed heat map.Search for a different heat map if needed.
In the heat map select an individual result at the lowest drill down level and then click Edit on the ribbon.
You see the Data Quality Rule workspace in a new tab with the data quality rule data and the associated validation rules.Select the validation rule you wish to edit.
Click Create/Edit Validation Rule.
You see the Validation Rule dialog box with the fields populated with the current values.Change the fields as needed.
Click Save.
You see a message confirming that the validation rule was changed.