Case Study
Enterprise Data Management Office & Strategy Definition
Data
Client
Fortune 500 U.S. Bank
Services
Data & Analytics Transformation, Data Management & Governance, Data Quality & Lineage
Project Overview
The Client had a need to modernize its data management and governance capabilities. Along with several audit and regulatory findings around data governance that required remediation, there was also an enterprise directive to remediate siloed data housed in legacy systems that lacked proper data quality controls. In response, Reference Point was engaged to help define a forward-looking Enterprise Data Strategy that adheres to industry best practices. Reference Point partnered with the Client’s newly appointed Chief Data Officer (CDO) to create an Enterprise Data Management Office (EDMO) operating model and enterprise-wide data strategy.
Solution
- Reference Point deployed a team of data and analytics consultants and former Industry executives that had previously led data organizations in the financial services sector to guide the CDO on the build-out of the EDMO.
- Reference Point conducted a current state assessment and a gap analysis against industry leading practices to aid the CDO in defining an enterprise-wide data strategy along with supporting policies and procedures.
- Reference Point also defined and executed communications and socialization plan to communicate the change throughout the organization and ensure successful adoption.
- The team also worked with the CDO to understand, in detail, the audit and regulatory findings around data governance that required remediation and prepared a holistic remediation plan that aligns with enterprise goals.
Impact
- Relying on Reference Point’s experience and thought leadership, the CDO was able to define the EDMO’s organizational structure, roles and responsibilities, critical data needs and data modeling standards.
- Leveraging the training from Reference Point, EDMO team members and data stewards throughout the enterprise could now own and properly manage data governance.
- The Reference Point team provided guidance, executive mentorship and support to the CDO directly on an ongoing basis to ensure the continued growth and development of the EDMO team.
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