www.cdovision.com
Moderator: Tony Shaw
CEO, DATAVERSITY
Speaker: Steve Zagoudis
CEO
MetaGovernance Inc.
#CDOVision
The Need for Information Governance Controls
Steven Zagoudis
MetaGovernance®
Incorporated
2
• Information as a corporate asset
• Regulations requiring content
integrity
• Competitive pressures for
efficiency
• Go...
Corporate Data and Information Issues
3
Corporate
System
SALES=$4.6M
Operational
System
SALES=$4.5M
Sales
System
SALES=$4....
Many Versions: Which is Correct?
4
Sales ReportRegulatory
Reports
SEC
Reports
Operational
Reports
Spreadsheet
$4.5M $4.4M ...
Status Quo Is No Longer Sustainable
MetaGovernance Incorporated. All Rights Reserved. 2014 5
Sarbanes
Oxley
Basel III
Untr...
Evolving Disciplines Move Closer to the Business
6
Manual
Controls
Spreadsheet
Controls
Data
Controls
Reporting-
Layer
Con...
7
Data
ContextGovernance
Data
Governance
Database
Data
Definitions
Tables
Columns
Systems
Data
Quality
Domain
Values
Data
...
The Scope of Information Governance is
much broader than a focus on data assets
• Data are raw assets produced and availab...
9
Content
ContextGovernance
Database
Data
Definitions
Tables
Columns
Systems
Data
Quality Domain
Values
Data
Models
Big
Da...
What is needed is a clear
understanding of the sources
and uses of information
across the enterprise…
10MetaGovernance Inc...
Key Information Governance Terms
Information
Steward
(Owner/SME)
Information
Delegate
Information
Custodian
Information
Co...
The Information Governance Awareness Map
12
MetaGovernance Incorporated. All Rights Reserved. 2014
13
The need for Information Governance Controls – Inconsistent data sources across departments
DepartmentalUsage
Business
...
14
The need for Information Governance Controls – Inadequate Controls
DepartmentalUsage
Business
Applications
Business
App...
What is wrong with this picture?
• Departments are pulling data from different systems.
• Data is inconsistent because man...
The Popular (Mis)conception of Automated Reporting
Data
Warehouse
Warehouse
Updates
Call Reports
Income Tax Filings
SEC Fi...
A different story comes to light when following
the true Information Flow of the Company
Data
Warehouse
Warehouse
Updates
...
A different story comes to light when following
the true Information Flow of the Company
Data
Warehouse
Warehouse
Updates
...
Source
Data Base
Spreadsheet Spreadsheet
Marketing Operations Accounting
A
Regulators and Auditors
Spreadsheet
Checkersand...
A Reconciliation Control
Framework® is needed to
break this cycle of risk and
waste…
20MetaGovernance Incorporated. All Ri...
21
The need for Information Governance Controls – Improved Controls to verify meaningful content
DepartmentalUsage
Busines...
A Reconciliation Control Framework®
Transactional Systems
(Sub-ledgers)
“A”
General Ledger
System
“B”
Reporting Systems
(D...
Information Governance Controls Validate
Content Across the Entire Information Flow
Data
Warehouse
Warehouse
Updates
SEC F...
24
• Automation of Manual Data Validation
• Elimination of Redundant Reporting Efforts
• Reduced Remediation
Costs
• Autom...
25
• Business Decisions Based on
Good Data
• Financial Statement Accuracy
• Clean Audit Reports
• Improved Regulatory Rati...
For additional information contact:
Steven Zagoudis
stevez@metagovernance.com
(404) 593-1601
www.metagovernance.com
Questi...
Upcoming SlideShare
Loading in...5
×

The Chief Data Officer's Agenda: The Need for Information Governance Controls

581

Published on

Information professionals are working in a proverbial fishbowl, always under watchful scrutiny. Increases in regulations, data standards, and competitive environments, coupled with an explosion of information and data assets across the organization, have led to significant challenges in the world of information. Financial regulations such as Basel III are redefining the control landscape. The Affordable Care Act, and extensions within HIPPA, are redefining Healthcare. Data Governance is maturing into Information Governance based on further expansions into business operations, legal, records management, information security and an awareness of the need to focus on derived information over pure data. Against this backdrop, CXO executives are demanding more and more controls prior to automating financial or industry reporting to provide assurance that information is accurate. This webinar explores the nature of Information Governance controls and how the controls can lead to operational efficiencies and reduction of multiple enterprise risk factors.

This webinar will provide an overview of:

The emergence of Information Governance
The nature of typical information landscape across an organization
The definition and need for Information Governance Controls
How Information Governance Controls drive operational efficiency and risk reduction
Critical success factors to integrated controls into overall Information Governance frameworks

Published in: Business
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total Views
581
On Slideshare
0
From Embeds
0
Number of Embeds
2
Actions
Shares
0
Downloads
32
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

The Chief Data Officer's Agenda: The Need for Information Governance Controls

  1. 1. www.cdovision.com Moderator: Tony Shaw CEO, DATAVERSITY Speaker: Steve Zagoudis CEO MetaGovernance Inc. #CDOVision
  2. 2. The Need for Information Governance Controls Steven Zagoudis MetaGovernance® Incorporated
  3. 3. 2 • Information as a corporate asset • Regulations requiring content integrity • Competitive pressures for efficiency • Governance has moved to the Boardroom Corporate Trends Corporate Information Issues MetaGovernance Incorporated. All Rights Reserved. 2014
  4. 4. Corporate Data and Information Issues 3 Corporate System SALES=$4.6M Operational System SALES=$4.5M Sales System SALES=$4.7M Overlapping Transaction Systems Internal Reports and External Disclosures that don’t agree Spreadsheets and Access Data Bases Inconsistent Data Repositories MetaGovernance Incorporated. All Rights Reserved. 2014
  5. 5. Many Versions: Which is Correct? 4 Sales ReportRegulatory Reports SEC Reports Operational Reports Spreadsheet $4.5M $4.4M $4.6M $4.7M Corporate System SALES=$4.6M Operational System SALES=$4.5M Sales System SALES=$4.7M General Ledger SALES=$4.6M Data Warehouse SALES=$4.5M SALES=$4.4M MetaGovernance Incorporated. All Rights Reserved. 2014
  6. 6. Status Quo Is No Longer Sustainable MetaGovernance Incorporated. All Rights Reserved. 2014 5 Sarbanes Oxley Basel III Untrusted Data Warehouses Proliferation of Spreadsheets Unsustainable Data Governance Redundant IT Systems Audit Standards Affordable Care Act TIME DATAQUALITY HIPPA Medicare Standards Dodd-Frank Basel II Increasing Oversight
  7. 7. Evolving Disciplines Move Closer to the Business 6 Manual Controls Spreadsheet Controls Data Controls Reporting- Layer Controls Enterprise Data Management (1995+) Data Governance (2005+) Enterprise Information Management (2008+) Information Governance (2012+) Metadata Governance (2014+) Emerging Focus Information Management Trends Data Control Trends MetaGovernance Incorporated. All Rights Reserved. 2014
  8. 8. 7 Data ContextGovernance Data Governance Database Data Definitions Tables Columns Systems Data Quality Domain Values Data Models Big Data Data Stewards Data Controls Data Procedures Data Policies Data Ownership Data Standards Operational Units KPIs CSFs Finance Accounting Reporting Disclosure Metadata Data Values MetaGovernance Incorporated. All Rights Reserved. 2014
  9. 9. The Scope of Information Governance is much broader than a focus on data assets • Data are raw assets produced and available for consumption by business operations. • Information is created by putting this raw data into business context (via the Business Architecture). • Information become the true asset of the organization. • Information Governance is the control and oversight of these information assets. • Information is the true knowledge base of the organization that must be protected and managed. • There may someday be an evolution to Knowledge Governance in line with the works of Dee Hock. 8MetaGovernance Incorporated. All Rights Reserved. 2014
  10. 10. 9 Content ContextGovernance Database Data Definitions Tables Columns Systems Data Quality Domain Values Data Models Big Data Data Stewards Data Controls Data Procedures Data Policies Data Ownership Data Standards Operational Units KPIs CSFs Finance Accounting Reporting Disclosure Metadata Information Governance Data Values Data Governance Legal Compliance Security Retention eDiscovery Records Email Derived Info Social Media UDAs Regulations Information Controls Audit Privacy Value Mapping Archives Transparency Automation Decision Support Digital Signatures Risk Documents Websites DisclosuresPatents MetaGovernance Incorporated. All Rights Reserved. 2014
  11. 11. What is needed is a clear understanding of the sources and uses of information across the enterprise… 10MetaGovernance Incorporated. All Rights Reserved. 2014
  12. 12. Key Information Governance Terms Information Steward (Owner/SME) Information Delegate Information Custodian Information Consumer 11Copyright MetaGovernance 2014.All Rights Reserved
  13. 13. The Information Governance Awareness Map 12 MetaGovernance Incorporated. All Rights Reserved. 2014
  14. 14. 13 The need for Information Governance Controls – Inconsistent data sources across departments DepartmentalUsage Business Applications Business Application Databases (Transactional) Business Application Databases (Reporting) Phase Loan System Credit Underwriting System General Ledger System Loan DB Credit DB Loan DW Credit DW Enterprise DW Accounting .XLS • Credit • Accounting • Treasury • Credit • Risk • Compliance • Marketing • Sales • Audit • Accounting GL DB Manual Updates Applied MetaGovernance Incorporated. All Rights Reserved. 2014
  15. 15. 14 The need for Information Governance Controls – Inadequate Controls DepartmentalUsage Business Applications Business Application Databases (Transactional) Business Application Databases (Reporting) Phase Loan System Credit Underwriting System General Ledger System Loan DB Credit DB Loan DW Credit DW Enterprise DW Accounting .XLS • Credit • Accounting • Treasury • Credit • Risk • Compliance • Marketing • Sales • Audit • Accounting GL DB 1 3 2 4 5 Control Descriptions: 1. Data movement job status only – Pass/Fail 2. Record counts Loan-to-EDW 3. Record counts Credit-to-EDW 4. Data movement job status only – Pass/Fail 5. Account totals – GL-to-EDW MetaGovernance Incorporated. All Rights Reserved. 2014
  16. 16. What is wrong with this picture? • Departments are pulling data from different systems. • Data is inconsistent because manual updates are being applied “downstream”. • Departments get different views of the data depending upon from where they pull the data. • Controls between the system are not validating content – only record counts. • Some data flows have no controls implemented. • Reports and disclosures will be inconsistent across the enterprise. 15MetaGovernance Incorporated. All Rights Reserved. 2014
  17. 17. The Popular (Mis)conception of Automated Reporting Data Warehouse Warehouse Updates Call Reports Income Tax Filings SEC Filings General Ledger Loan 1 Loan 2 CRM Derivative Data Sources 16MetaGovernance Incorporated. All Rights Reserved. 2014
  18. 18. A different story comes to light when following the true Information Flow of the Company Data Warehouse Warehouse Updates SEC Filings 17 General Ledger Loan 1 Loan 2 CRM Derivative Data Sources Call Reports Income Tax Filings Data Extracts MetaGovernance Incorporated. All Rights Reserved. 2014
  19. 19. A different story comes to light when following the true Information Flow of the Company Data Warehouse Warehouse Updates SEC Filings 18 General Ledger Loan 1 Loan 2 CRM Derivative Data Sources Call Reports Income Tax Filings Data Extracts MetaGovernance Incorporated. All Rights Reserved. 2014
  20. 20. Source Data Base Spreadsheet Spreadsheet Marketing Operations Accounting A Regulators and Auditors Spreadsheet Checkersand Verifiers 19 B C Data Mart Data Mart Spreadsheet Spreadsheet GL Spreadsheet Spreadsheet Spreadsheet A B C IT Data Patches Executive Management MetaGovernance Incorporated. All Rights Reserved. 2014
  21. 21. A Reconciliation Control Framework® is needed to break this cycle of risk and waste… 20MetaGovernance Incorporated. All Rights Reserved. 2014
  22. 22. 21 The need for Information Governance Controls – Improved Controls to verify meaningful content DepartmentalUsage Business Applications Business Application Databases (Transactional) Business Application Databases (Reporting) Phase Loan System Credit Underwriting System General Ledger System Loan DB Credit DB Loan DW Credit DW Enterprise DW Accounting .XLS • Credit • Accounting • Treasury • Credit • Risk • Compliance • Marketing • Sales • Audit • Accounting GL DB 1 3 2 4 5 Control Descriptions: 1. Accrued Interest, Outstanding Principle Loan-to-Loan DW 2. Accrued Interest, Outstanding Principle Loan-to-EDW 3. Total Outstanding Exposure, Customer LTV value Credit-to-Credit DW 4. Total Outstanding Exposure, Customer LTV value Credit-to-EDW 5. Account totals, GL Hierarchy totals – GL-to-EDW 7 6 MetaGovernance Incorporated. All Rights Reserved. 2014
  23. 23. A Reconciliation Control Framework® Transactional Systems (Sub-ledgers) “A” General Ledger System “B” Reporting Systems (Data Warehouses) “C”B=C? Total Loan Balance = $145,975,550.00 Total Loans by Division East = $125,000,300.00 West = $ 20,975,250.00 Total = $145,975,550.00 Account 12124-321-01 (Loans) Balance = $145,975,550.00 MetaGovernance Incorporated. All Rights Reserved. 2014
  24. 24. Information Governance Controls Validate Content Across the Entire Information Flow Data Warehouse Warehouse Updates SEC Filings 23 General Ledger Loan 1 Loan 2 CRM Derivative Data Sources Call Reports Income Tax Filings Sub-Ledger Systems General Ledger System Financial Data Warehouse Control Status Loans $45,123,567 $45,123,567 $45,123,567 Balanced Payments $66,543,123 $65,876,891 $67,543,888 Variance Investments $100,321,111 $100,321,111 $100,321,111 Balanced Data Corrections MetaGovernance Incorporated. All Rights Reserved. 2014
  25. 25. 24 • Automation of Manual Data Validation • Elimination of Redundant Reporting Efforts • Reduced Remediation Costs • Automated Software Testing Resulting Gains in Operational Efficiency… MetaGovernance Incorporated. All Rights Reserved. 2014
  26. 26. 25 • Business Decisions Based on Good Data • Financial Statement Accuracy • Clean Audit Reports • Improved Regulatory Rating • Reduced Reputation Risk RISK MANAGEMENT …and Reduction in Enterprise Risk MetaGovernance Incorporated. All Rights Reserved. 2014
  27. 27. For additional information contact: Steven Zagoudis stevez@metagovernance.com (404) 593-1601 www.metagovernance.com Questions? 26
  1. A particular slide catching your eye?

    Clipping is a handy way to collect important slides you want to go back to later.

×