Annual Performance Report 2012
Print- Data Governance
- Facilities Infrastructure
- Maximizing the Value of Human Capital
Strategic Theme 2: Data Governance
Redesign data governance and management processes to enhance the Board's data environment.
Objectives
2.1 Improve data governance by establishing a new office of the Chief Data Officer (CDO) and ensuring that there are clear roles and responsibilities among the CDO, the Board Data Council (BDC), and data users.
2.2 Ensure that all enterprise data are handled, processed, stored, and disseminated by professional data management groups.
2.3 Strengthen the Board's data environment by establishing an infrastructure to share data and improve opportunities for data integration that supports the Board's research and analytical capabilities.
As the Board's mandate has expanded in the wake of the financial crisis and the passage of the Dodd-Frank Act, so has the need for comprehensive data and data management to meet the broad analytical issues staff members face. The Board requires a data governance and management structure that supports the growing quantity and availability of data, while ensuring the operational flexibility required by data users.
Accomplishments
- Established the Office of the Chief Data Officer, which reports to the Board's Chief Operating Officer (COO).
- Formed an internal panel in the fall 2012 to search for a CDO.
Planned Activities
- Plan is to select a CDO during the first quarter of 2013.
- Enhance data-governance policies.
- Commence discussions to facilitate coordination across data communities at the Board and between the Board, the Reserve Banks, and other regulatory agencies.
- Enhance the role of the BDC to support the development and implementation of data-management policies.
