Data Management Best Practices for Financial Institutions
May 23, 2023
Stay Connected
In today’s digital age, it’s imperative to manage your organization’s data for policies, procedures and best practices to maintain the system integrity and performance. On this episode of the Risk & Accounting Advisory podcast, join Neal Beggan, Partner and Cherry Bekaert’s Risk Advisory Practice Leader, and Alan Swan, Managing Director and Risk & Data Management Leader, as they dive into data management and emerging technologies, their institutional impacts and how banks provide a unique customer experience, while remaining competitive in the marketplace. They explore how digitization impacts the Financial Services industry, and how small and mid-sized institutions can leverage data to:
- Generate revenue,
- Improve business performance,
- Elevate business processes and
- Create an environment for digital transformation.
Neal and Alan expand on how to remain competitive by outlining the foundations to strong data governance, including establishing the right process, selecting a vendor, implementing solutions and identifying the right resources to manage your organization’s data. Finally, they look at regulatory requirements and how data assets can assist in more robust and effective reporting.
Cherry Bekaert’s Risk Advisory practice is focused on helping the Financial Services industry protect value, power performance and build resilience with mature internal controls, data governance and risk management services. We do this by leveraging technology to alleviate financial, operational and compliance risks using purpose-built risk management solutions that cost effectively diagnose, mitigate, and monitor risk.
Additional Resources:
- Article: How to Introduce Data Analytics into Your Organization
- Podcast: How to Build a Data-Driven Culture in Your Organization
- Article: Identifying Anomalies Through Risk Analytics: What is Your “Normal”?
- Podcast: What is Risk Analytics and Why is it Important?