The best approach is both top-down, assigning a fundamental concept based on its definition and middle-out, identifying a matching FIB-DM entity. We assign fundamental concepts and their specialization to the data items. We use abbreviations and icons as mnemonics to teach the concepts to modelers and business users. In the FIBO ontology, the fundamental fifteen concepts are direct subclasses of the Thing. Almost 70% (1101) of base entities are subtypes of the fundamental business concepts. Not counting associative entities, FIB-DM has 1616 base entities. In other words, they have the most subtypes and most relationships. The fifteen concepts most are extensive ultimate supertypes in the Financial Industry Business Data Model.

15 Fundamental Business Concepts in Finance Here is a picture of the 15 Fundamental Business Concepts. That means to assign fundamental business concepts and their specializations.

In our second step we conceptualize our sample data items. The corporation has $176 billion issued capital. JPMC NA has a Legal Entity Identifier (LEI). The Legal Entity has a registered address with the US as the country. Note the distinction of what JPMC is – a legal entity, and what JPMC does – taking deposits. JPMC has the identity of JPMC NA, the legal entity. The FDIC registers the Certificate, and thus JPMC. The Certificate is registered in the FDIC Institution Directory. Call report sample data diagramįDIC Certificate 628 identifies JPM Chase as a registered bank. We draw a simple diagram of our sample data. For this exercise, our data requirements are the Entity schedule data items, plus additional reference data about the FFIEC, already in the FIBO. The Entity Schedule, “ENT” has reference data about the reporting Bank. A screenshot of the JPMC Call Report in Excel. The example below shows JPMorgan Chase Bank, NA submission with call date, id, data item, value, definition, call schedule, and line number. The Federal Financial Institutions Examination Council (FFIEC) publishes the XBRL taxonomy and bank filings.

Excursus: Use the concept Map to scope a FIBO subsetįor US banks one of the key reports required to be filed is the quarterly Consolidated Report of Condition and Income, generally referred to as the call report or RC report.

Review the CDM, comparing to the ontology and discuss next steps to generate a logical data model.

Scope the conceptual data model (CDM) starting with concepts and associations and pulling in supertypes entities.

Standardize the concept map based on the FIBO vocabulary for concepts and associations.

Use the 15 Fundamental Business Concepts to create a high-level concept map.

Our example is the Bank Call Report, a US regulatory requirement, Following the Semantic Compliance ® approach, we The lesson is a first dive into the Financial Industry Business Data Model (FIB-DM) content.

Associative entity navicat data modeler