What is Enterprise Data Governance?

An Enterprise Data Governance program is the accountability structure in large, financial services organizations that manages the suite of resources, tools and processes used to control and improve data quality in the enterprise. 
It is a technology agnostic organization with the core objective of ensuring that data is fit for use.  It is funded, prioritized and supported by both business and technology organizations.

Common Business Drivers for Enterprise Data Governance

Most large organizations use significant resources to manage data governance processes, through both direct and indirect means. 

• A lack of investment in data infrastructure and data management controls
• A lack of common data governance plans, policies, standards and procedures, which has resulted in the proliferation of inconsistent data management processes such as prolific data marts in SAS, Access and Excel, and manual data corrections to completed transactions
• A lack of user training, process alignment and standardization for definitions and ownership – every user is a steward
• A reliance on legacy systems for product management and processing, risk management, compliance and operational management in a business with dynamic products
• Scrutiny of operating business performance and process by internal audit, business compliance and regulatory authorities whom require periodic demonstrations of controls
• Businesses preparing for growth and profitability that intend to retool product management platforms

In our experience, every organization is different, with unique priorities, requirements, cultures and legacy infrastructures.

Best-in-Class Data Governance Activities

The operation of a mature Enterprise Data Governance program includes a series of integrated tools and processes that establish an accountability structure between business and technology organizations that includes robust communications and regular dashboard reporting.