MDM Ontology

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Company: Lorven Technologies Inc

Location: Jersey City, NJ 07305

Description:

Job Title : MDM Ontology

Location : Jersey city, NY | Hybrid

Duration : Long Term

Job Description:

Key Responsibilities:

Requirements Gathering & Analysis:
  • Collaborate with business stakeholders to document and define insurance-specific data requirements, including data elements, terminology, and classifications unique to the insurance domain (e.g., policy types, claims data, underwriting processes).
  • Work closely with data governance teams to define insurance-related data quality standards, rules, and policies, ensuring compliance with industry regulations.
  • Identify and analyze relationships between various insurance data elements, such as customer, policy, claim, and payment, to support seamless integration in MDM solutions.

MDM Solution Design & Implementation:
  • Support the design and development of insurance-focused MDM workflows, data models, and processes, considering the complexities of insurance data (such as multi-dimensional relationships and hierarchical structures in policyholder data).
  • Work with business users and technical teams to ensure that MDM solutions meet the unique needs of insurance data, including integration with legacy insurance systems.
  • Participate in the design of insurance Taxonomies and Ontologies to organize insurance-related data effectively, facilitating easier classification, searchability, and reporting across systems.
  • Provide input on insurance business use cases and specific data requirements during MDM tool selection and customization.

Data Integration & Management:
  • Collaborate with technical teams to ensure proper integration of insurance-related master data across various systems such as CRM, ERP, and insurance-specific systems (policy management, claims processing, etc.).
  • Define and assist in implementing data integration processes that ensure accurate data flow from source systems (e.g., underwriting tools, claims management platforms) into MDM platforms, with a focus on insurance data formats and standards.
  • Support data cleansing, harmonization, and validation activities to improve the quality and consistency of insurance-related data across the enterprise.

Testing & Quality Assurance:
  • Lead or assist in testing MDM solutions for insurance data, ensuring they meet business requirements and industry standards.
  • Identify and resolve data quality issues during testing, particularly around the consistency of insurance taxonomies, classifications, and relationships.
  • Ensure that MDM processes for insurance data adhere to data governance standards, policies, and compliance regulations.

Reporting & Documentation:
  • Create and maintain documentation on insurance-related MDM processes, data models, and system configurations.
  • Develop and maintain reports on the quality of insurance data, taxonomies, and MDM system performance, ensuring alignment with business objectives.
  • Provide regular updates to stakeholders on the progress of MDM initiatives, especially those related to the insurance data domain.

Training & Support:
  • Provide training and support to business users and data stewards on insurance MDM systems, taxonomies, and processes.
  • Act as a subject matter expert for insurance data, answering queries related to taxonomy, ontology, and data integration issues.


Experience:
  • 3-5 years of experience as a Business Analyst, with a focus on Master Data Management in the insurance industry.
  • Hands-on experience with Insurance Taxonomy and Ontology, with a deep understanding of how insurance data is classified and structured.
  • Experience working with MDM tools (e.g., Informatica MDM, SAP MDG, IBM InfoSphere) and insurance data platforms.
  • Solid experience in data integration, ETL processes, and applying data governance frameworks to insurance data.
  • Familiarity with insurance-specific terminology, business processes, and regulatory requirements (e.g., claims data, policyholder data, actuarial data).

Skills:
  • Strong analytical and problem-solving skills, with an emphasis on insurance data complexities.
  • Ability to communicate effectively with both technical and non-technical stakeholders, with particular emphasis on the insurance domain.
  • Knowledge of data governance principles, especially as they relate to insurance regulations (e.g., GDPR, HIPAA, Solvency II).
  • Familiarity with Agile methodology and project management for MDM initiatives.
  • Proficiency in data analysis and visualization tools (Excel, Tableau, Power BI) with a focus on insurance-related data reporting.

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