Abstract
This research is a case study conducted at the Financial Services Authority on the implementation of a data governance framework based on the model from The Data Management Association in 2017. The purpose of this study is to produce a data governance framework in managing integrated Financial Services Sector data. This study uses a qualitative approach in describing data governance activities. The research instruments were interviews, questionnaires, and content analysis. The results show that data governance frameworks provide guidelines for various parties to act in accordance with the strategies that have been developed. Data governance program at the Financial Services Authority requires further improvements in the form of establishing a data governance charter, assessing the maturity level of data management capabilities, defining the operational framework, adjusting the roadmap, establishing a change management team, creating mechanisms and procedures for handling data problems, and developing tools and techniques which supports the entire data governance program.
Highlights
One of the benefits obtained by the Financial Services Authority (FSA) in using technological innovation is the ability to maximize the use of data reported by financial institutions
Many repeated studies have been carried out to explore the need for a data governance framework, there are three data governance models that can be used by organizations in implementing data governance programs: the model from The Data Management Association (DAMA) 2017, the model from The Data Governance Institute (DGI) in 2004, and the model from the International Business Machines Corporation (IBM) in 2008 (Al-Ruithe, Benkhelifa, & Hameed, 2019)
The questionnaires were distributed to two senior analysts and two junior analysts that work for the integrated data and information management function at the FSA, that is the Integrated Data and Statistics Management Group (GDST)
Summary
One of the benefits obtained by the Financial Services Authority (FSA) in using technological innovation is the ability to maximize the use of data reported by financial institutions. The large amount of data and various data formats received by FSA can cause problems in data management These problems arise as a result of different policies and procedures, variations in reference data, data integration, and application development with similar functions. Literature study approach has been widely used in research to identify the need for a data governance framework to address these data management problems, only a few studies have conducted case studies on data governance (Jim & Chang, 2018). This research was conducted in order to provide an integrated FSA data governance framework as a guide for the FSA in improving the quality of the data and information produced to support the implementation of the duties and functions of the FSA. Good quality data will be used to produce information that is useful in making regulations, policies, monitoring activities, granting permits, coaching, as well as educating and protecting consumers who use financial services in Indonesia
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