BCBS 239 and Solvency II have driven the Data Governance Agenda for banks and investment firms. Both were enacted on 1st January and many firms are being assessed right now.
At the EDMworks Data Practitioner Network on 2nd June we review the current state of the assessment process based on feedback from leading banks. Dennis Slattery will deliver a summary of actual feedback from UK and USA leading banks and describe the activities of the Regulators and banks’ Internal Auditors as they get to grips with assessment and further remedial action.
The event also covers the next major drivers for data governance in the European region. Three seemingly unconnected pieces of legislation will fundamentally change the data management landscape over the next three years. They all have different causes, but their combined effect will be to enforce accountability for data, reinforce governance, underpin data architecture and mandate data quality management:
The General Data Protection Regulation (GDPR) changes the rules and accountabilities for security around personal data and transforms penalties for data breaches from “cost of doing business” to “bankrupting the business”.
The Network and Information Security Directive (NISD) focuses on identification, registration and accountability for critical networks or systems. The scope covers financial, telecoms, utilities and other types of business. It is the European Union’s response to cyber terrorism.
On 7th March 2016, the Senior Manager and Certification Regime (SMCR) was implemented as a self-regulating framework for senior management accountabilities across the finance sector. This provides the legislative structure for the PRA/FCA to demand individual accountability for and oversight of critical business functions. The NISD and GDPR will use this framework to ensure personal accountability for data assets across the organisation.
All these topics will be covered by subject matter experts and practitioners from leading firms. To register, got to https://lms.edmworks.com/mod/page/view.php?id=757