Govern Enterprise Data with the Right Operating Model and Strategy


Client

Fortune 500 U.S. Bank

Project Overview

Reference Point partnered with the Client’s newly appointed Chief Data Officer to create an Enterprise Data Management Office (EDMO) operational model and enterprise-wide data strategy.

Challenge

  • The Client recently created a stand-alone EDMO but needed a better understanding of regulatory requirements and industry best practices for proper data governance (e.g., data was siloed in legacy systems without proper data quality controls).
  • The organization had received numerous audit and regulatory findings around data governance that required remediation.

Solution

  • Reference Point deployed a team led by the former Chief Data Officer at Citi and the New York Federal Reserve, along with a team of data management consultants to guide the CDO on the build-out of the EDMO.
  • Reference Point helped the CDO create an enterprise-level data strategy and supporting policies and procedures, and then socialized them throughout the organization to ensure adoption.
  • The team worked with the CDO to understand the Client’s unique situation and prepare responses and remediation plans for regulatory audit findings.

Impact

  • Relying on Reference Point’s experience and thought leadership, the CDO was able to define the EDMO’s organizational structure, roles and responsibilities, critical data needs and data modeling standards.
  • Leveraging the training from Reference Point, EDMO team members and data stewards throughout the enterprise could now own and properly manage data governance.
  • The Reference Point team provided guidance, executive mentorship and support to the CDO directly on an ongoing basis to ensure the continued growth and development of the EDMO team.

End-to-End Services, Working Together.

Strategy. Risk. Data. Technology. Reference Point evaluates critical elements all together to build cohesive, lasting value for financial services clients.

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