by Angela Guess
Tommy Fernandez of Information Management reports, “Over 60 percent of firms surveyed are actively working towards creating specialized data stewards, and eventually Chief Data Officers, for their enterprise, according to a survey by GoldenSource Corporation. While firms varied in their progress toward a central data governance structure, nearly all were moving from a decentralized to commonly shared model for oversight and control functions, according to GoldenSource’s first annual client survey, which was taken at its biannual client forum. The survey explored the enterprise data management practices of GoldenSource clients across the Americas, Europe and Asia Pacific regions. GoldenSourcem helps financial firms manage reference, transaction and positions data.”
Stephen Engdahl, SVP of product strategy for GoldenSource commented, “Four years after the financial crisis, institutions are still struggling to get a 360-degree view of their data. Relying solely on mapping instrument data to security masters is no longer an option… It is essential to risk management, regulatory requirements, and operational efficiency that data management is viewed as a business function, whose quality and governance apply across the enterprise.” Fernandez adds, “Moreover, Engdahl said, the results of the survey also emphasized that considering organizational, policy, and behavioral realities in which a data control framework operates is as important as the underlying technology platforms that enable it. Appointing data stewards and Chief Data Officers to galvanize governance as a shared service across these firms will be crucial to success.”
