Data Management and Governance Offices Setup

Our client embarked on a data governance initiative for their investment data sets with the required people, process and technology to address issues related to ownership, quality, integrity and timeliness of data. Given the lack of expertise in-house, we were engaged to define the team structure for an operational Data Management Office (DMO) and a strategic Data Governance Office (DGO).

What we did

  • Categorised investment data sets based on the nature of processing and origin of data and assigned clear operational ownership for each
  • Defined the mission and objective for DMO along with the proposed team structure
  • Established the operating model for the DMO service stressing best practice and outlined a stringent service level for data sets
  • Defined a RACI matrix for investment data sets covering all the functions at the organisation
  • Recommended the team structure of DGO with an approval council, cross functional working group, and the various roles to be newly created
  • Defined action focused terms of reference with the required approval and escalation process for the various council, groups and roles to be established
  • Established a framework to assess the cost-benefit of data vendors

Our impact

  • DMO team was established with a mandate to provide timely and quality data to support the investment, risk, and compliance processes across the organisation
  • The defined data governance framework helped the client build a clear strategy for ownership and governance of data across the organisation
  • The client was able to better understand the cost and usage of different datasets across the organisation thereby leading to optimisation and cost reductions

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