The IBM Data Governance Council, which was set up three years ago by IBM and comprises 50 financial market firms, is currently discussing establishing best practices for the industry on how to manage critical financial data. The council plans to build what it calls an “information governance framework”, which will be based on their existing data governance maturity model.
This essentially means that it will provide the industry with guidance on how to execute data governance at a granular level with defined roles, tasks, activities and a broad set of data governance procedures to make data governance a part of business operations.
Steve Adler, chairman of the council, explains: “Upcoming work by the council will help organisations better understand governance, how it will benefit the bottom line and be reported to the markets, as well as the desired end result for each business.”
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