You have a directive from the top – institute a data governance policy! More and more of those in leadership positions are recognizing the need to mitigate risks to the organization by having a data governance policy. So, who decides what that will look like?
It’s important to have a team approach. This is not an area where a group with just a single view of the organization can decide on policy. It is important to have stakeholders from many functional areas as part of the team. Do you have a CDO (an up and coming C-suite member), then clearly they are on the team, but it needs to be a team comprised of members of business lines, technology, compliance, audit, etc. Any area of your organization that has data ownership should be involved.
If you don’t have all the players on the team pulling in the same direction, then you will never be able to get the most value of your data. And it’s just not getting value, it’s also making sure that you are doing everything to maintain compliance and security.
So, who is on your team?