The Data Governance exercise for compliance to BCBS 239 principles is expected to see the Risk management, IT and Finance groups collaborating with a vision for standardizing data management practices, infrastructure and reporting framework across enterprises. We have significant experience in successfully establishing data owners within enterprise data warehouses, one of the most significant factors in the data governance principles.
While setting the objectives, systems and personnel are expected to be the critical factors facilitating successful execution and implementation. The key guidance principles revolve around formalizing data owners, data management rules, management of the system architecture and the reporting structure.
The key elements to be envisaged in the data governance framework are:
- Data Guidance Principles (Policy)
- Data Management Rules (Process Rules)
- System Architecture
- Reporting Structure
Before undertaking the implementation and deployment of solutions, we expect senior management or Board approval for deployment of the Data Governance Framework. The approved principles are to establish the framework for bank’s data architecture management and governance, and set minimum standards in respect of data quality, management and reporting for regulatory and financial purposes.