Case Study
Establishing Bank Data Governance for Scale and Regulatory Compliance
Financial Services
We helped a growing regional bank implement data governance policies to increase data maturity and comply with strict industry regulations.
CLIENT’S CHALLENGE
With 43 banking offices spanning North Carolina and Virginia, our client, a growing regional bank, offers a competitive array of business and personal finance services. Upon conducting internal assessment projects, our client faced data governance issues, including:
- Increased regulatory scrutiny as the bank has grown in recent years
- Need to assess data environment to prepare for regulators
- Lack of business executive support for data program (i.e. the business wants data insights without realizing everything that goes into managing it)
- Data consumption is a “hub-and-spoke” model, where IT owns EDW and business users produce reporting and analysis
- Need for advanced analytics and AI capabilities
OUR APPROACH
- Evaluate client’s entire data footprint, including applications, databases, infrastructure and reporting across finance, business intelligence, and IT
- Conduct interviews with data team to understand key business data drivers and challenges
- Identify and document key data governance gaps including lack of clear roles and responsibilities, lack of business involvement in data governance, and security concerns
- Develop prioritized roadmap and data governance program plan supported by business case justification
SKILLS AND TECHNOLOGIES LEVERAGED
Data Governance, Microsoft Azure, PowerBI, BIC
The Results
- Developed first generation data governance policy to demonstrate commitment to data governance from the regulators
- Executive understanding of current enterprise data governance maturity, gaps, and data drivers of operational excellence
- Provided a framework to self-assess data governance maturity and track progress