As part of its Basel II compliance efforts, this very large U.S. bank realized it could not provide the required advanced data management capabilities without implementing Data Governance and Stewardship across all operations that work with risk-related data. It also decided to build a new data warehouse and implement new technologies and processes.
A top-tier IT consultancy coordinated efforts for a blended team of resources from the consultancy, the client , software vendors, and the Data Governance Institute. With multiple business and technical threads, the project placed Data Governance efforts right in the middle. The DGI consultant was asked to introduce a framework and processes to establish decision rights, accountabilities, issue resolution, and communications for a new Data Governance office and program participants.
Because Basel II compliance required significant changes from business groups across the bank in a relatively short period of time, the organization included a set of liaison positions to focus on evangelizing Data Governance, working individually with affected mangers and their staffs, and attending to organizational change management and communications.
We helped design and populate a new Data Governance Intranet site with messaging that aligned with the bank's messaging around Risk Management and its portfolio of Basel II business and technology initiatives. The Data Governance messaging -- and the Communication Plan to support it -- followed the "Carrot-Carrot-Carrot-Stick" model, in which three justifications for the program were presented that supported highly-valued operational goals, followed by the "because we have to" compliance reason.
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