building data governance in financial organizations外文电子书籍.pdfVIP

Implementing Data Governance within a Financial Institution Stefan Traulsen and Marco Tröbs UniCredit Bank AG BearingPoint GmbH Data Governance Finance, Risk and Compliance Am Tucherpark 14 Ganghoferstrasse 29 80538 München 80339 München stefan.traulsen@unicreditgroup.de marco.troebs@ Abstract: Data Governance is an essential part of an overall Corporate Governance strategy as an equal sub-discipline alongside IT Governance. The goal of Data Governance is to govern and manage data and information by organizing the proper usage of data and defining the responsibilities for data and respective data quality. This paper discusses a practical realization approach of a Data Governance strategy within a financial institution’s Chief Financial Officer (CFO) organization and outlines the impact on organizational structures as well as current topics to be addressed by Data Governance. 1 Introduction In the globalized and interconnected world of today, market players are facing significant challenges to their business. For a long time, the focus on the creation of shareholder value was the main driver of managing the business, however, during the last two decades further stakeholder groups have gained in importance, such as the interests of employees, customers, suppliers, creditors, as well as public interests coming from government and regulatory bodies. Therefore, a holistic functional approach is necessary to handl