Toronto FIS Live: Afternoon Keynote

Inside Reference Data editor Michael Shashoua reported live from the Toronto Financial Information Summit via Twitter, on the afternoon keynote address covering the rising role of chief data officers.

Cover It Live malfunctioned and did not stream all the tweets through its interface. Here they are, unfortunately so far in reverse order. Please read from bottom up, and our apologies for the inconvenience.

#torontofis creating a culture where data is asset. Risk finance AML all live with this every day. +pain of constant remediation

#torontofis entire value chain. Regulators want to know ... our biz process... & who's the data owner

#torontofis innovation is defining and deploying something new that lets us provide insights

+trend of seeking info advantage #torontofis

#torontofis to view horizontally... orgs must be more customer centric. Must be easy to move from 1 bank to another.

#torontofis attracting new customers a challenge in saturated market. Plus w CCAR BCBS239...we distilled 14 principles into 7 items to do

But only 20% acting on that #torontofis

#torontofis need is greatest in US ... w regulatory milestones. Tech capabilities: 55% in PWC study worried about it taking over industry

#torontofis why CDO role? Structure and reporting ... analytics as competitve driver. Data is money, is a currency

#torontofis data quality messages, for timely decision making... difficult to argue against but pain points:

#torontofis generally banks lead the push with CDO role

#torontofis consultative approach needed to translate goals into outcomes

#torontofis Persaud: from experience working in many industries even gaming see challenges in data mgnt