Amid tightening regulatory pressure, good data governance is key
Financial firms can’t afford to treat data governance as a one-off, check-the-box exercise. Instead, senior data management execs say, it should be treated as an ongoing series of regular health checks.
For Sumanda Basu, head of data quality and data domain lead at Societe Generale Americas, the 2008 global financial crisis was the “initial mandate” for banks to reassess their data governance. Fifteen years and several landmark regulations later, banks are actively managing their strategies and policies to stay compliant and on top of their data.
Post-crisis regulations in the US and EU like Dodd–Frank and Mifid II helped banks navigate and put into practice the management of investor
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