Jim Northey Named Chair of ISO Technical Committee for Global Financial Services Standards, TC 68
Outgoing Leader Karla McKenna, Citi, Will Continue Active Role
ANNAPOLIS, Md. – Jan. 15, 2019 — 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 the 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.