Data Governance Model To Enhance Data Quality In Financial Institutions

Abstract

ABSTRACT The author concentrates on data governance in research and practice. The author has developed a strong knowledge of data governance through numerous case studies of electricity, retail, telecom, banks, or insurance companies. With more than nine years of experience from both technical and process point of view, the author has become a Data Governance specialist with focus on design and implementation of governance frameworks. The author has given numerous training courses to improve knowledge of the data to derive maximum value from it. Data governance in financial institutions has been significantly driven by regulatory requirements. Data governance standards are complex and lack implementation details. This paper proposes Data Governance Model used in a financial institution. Data Governance Model is based on BCBS 239 and DAMA methodology. The Model enhances practices of DAMA and tailors them to the needs of financial institution. The scope of the Data Governance Model is limited to data governance, data quality, and metadata management.