[January 15, 2019] |
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Jim Northey Named Chair of ISO Technical Committee for Global Financial Services Standards, TC 68
The Accredited Standards Committee X9 Inc. (X9)
today announced that, as of January 1, 2019, Jim Northey of the FIX
Trading Community is the new chair of ISO
TC68 - Financial Services. As the only ISO technical committee
solely focused on financial industry standards, TC68 plays a key role in
the development and adoption of new technologies in the banking,
brokerage and insurance industries. Northey follows Karla McKenna of
Citi, who served as TC68 chair for 12 years and whose tenure was term
limited.
Northey was selected as McKenna's successor by the X9 Board of Directors
in its role as TC68 Technical Advisory Group, and was then affirmed by
TC68 members. Northey has deep expertise in financial services standards
and many years of experience in the industry. He now serves as FIX
Global Technical Committee Co-chair, Americas Region.
McKenna's accomplishments as TC68 chair include: guiding the ISO
20022 standard through its growth and adoption; addressing
regulatory response following the global credit crisis of 2008; and
restructuring TC68 to address the sea change of technology innovations.
By developing business-worthy standards, during her tenure TC68 gained
recognition and trust as a developer of sound financial processes as
well as standards to support transparency in financial transactions and
reporting. Continuing in a senior role, she will focus on use of TC68
standards for regulatory purposes and the refinement of te committee's
approach to its reference data standards catalogue.
Building on McKenna's achievements, Northey intends to expand and
improve TC68 technical standards, forming additional partnerships with
both established and emerging technology standards organizations, with a
special area of focus around semantics and financial technology. In
addition, he will lay plans to guide the group through the opportunities
and challenges of the shift toward more active financial standards
involvement from Asia.
"First, I want to thank Karla for her service. She has left a house in
order, and a vision for the future that I pledge in my tenure as TC68
chair to progress and build upon," said Northey. "I will seek to
practice the best that America has brought to the world in executing my
role, and I look forward to working with everyone to continue to create
value from global standardization."
"As I reflect on my years as chair of ISO/TC68, I think that we all
should be proud of the standards that we have developed and the
improvements we have implemented," said McKenna. "I have been privileged
to meet and work with some of the best standards and business
professionals in financial services, and I look forward to carrying on
our work to adapt to and integrate the needs of the digital age into our
standards."
About the Accredited Standards Committee X9 Inc. The
Accredited Standards Committee X9 Inc. is a non-profit organization
accredited by the American National Standards Institute (ANSI) to
develop both national and international standards for the financial
services industry. X9 has over 100 member companies and over 400 company
representatives that work to develop and maintain approximately 100
domestic standards and 58 international standards.
The subjects of X9's standards include: retail and mobile payments;
printing and processing of checks; corporate treasury functions; block
chain technology; processing of legal orders issued to financial
institutions; tracking of financial transactions and instruments;
tokenization of data at rest; quantum computing risk; data breach;
electronic contracts; and remittance data in business payments. X9 also
performs the secretariat
function, acts as the U.S. Technical Advisory Group, and provides the
committee chair for ISO TC68, which produces international standards for
the global financial services industry. For more information about X9
and its work, visit www.x9.org.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20190115005174/en/
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