Perficient Data & Analytics

JULY 17, 2019

As firms began to recognize the power of data for its ability to optimize business processes, as well as to provide a strategic advantage, new disciplines for its governance emerged. As there are different classifications of data, each with its own characteristics, management will need to implement specific controls and governance. of each data type vary, so does its optimal governance. Data is the lifeblood of any company.

Financial Services 44

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Perficient Data & Analytics

JULY 30, 2019

Previously, I analyzed the types of data in a governance program for financial services companies. In this post, I discuss the components needed to design a data governance strategy. Requesting access to data should be automated through workflows to facilitate and speed the servicing of requests as to not hinder productivity. A comprehensive program to manage data consists of a number of components: Data Strategy & Architecture.

Financial Services 43

Financial Services Government Access Communications 43

Perficient Data & Analytics

OCTOBER 17, 2019

Previously, I discussed the components needed to design a data governance strategy. This post will describe in detail, how to initiate the data governance program. The first step in implementing an enterprise data governance program is conducting a comprehensive assessment of all data related policies, processes, standards, repositories, and usage. The basis for any data governance program will be a thorough analysis of reference and transaction-level data.

Financial Services 40

Financial Services Government Communications IT 40

ARMA International

NOVEMBER 7, 2019

The scope of a records and information management (RIM) program in financial services can seem overwhelming. Compared to other industries, the complexities of managing records and information in financial services are arguably some of the toughest to solve, primarily because of the intense regulatory scrutiny. History of Financial System. financial system continues to evolve in response to changing regulations. Financial Services Industry Overview.

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Financial Services Communications Risk Customer Experience 55

Perficient Data & Analytics

JULY 16, 2019

The first step any financial institution must take in its response to the laws is to evaluate its exposure and current capabilities in protecting sensitive business and customer data. Define the governance structure. Implement: Technical services are required to create/ update cybersecurity policies and procedures. For more information on NYDFS 500 and GDPR laws and regulations on the financial services industry, please download our guide here , or click below.

Financial Services 43

Financial Services GDPR Cybersecurity Data breaches 43

CGI

APRIL 17, 2020

Embracing new ways of working in financial services. Although the approaches to dealing with the COVID-19 pandemic vary by country, as governments and businesses come to grips with it, one thing is imperative: we will get through this. . Customer service.

Financial Services 77

Financial Services Artificial Intelligence Computer and Electronics Cybersecurity 77

Data Matters

AUGUST 19, 2020

On July 21, 2020, the New York State Department of Financial Services (NYDFS or the Department) issued a statement of charges and notice of hearing (the Statement) against First American Title Insurance Company (First American) for violations of the Department’s Cybersecurity Requirements for Financial Services Companies, 23 N.Y.C.R.R.

Financial Services 65

Financial Services Insurance Risk Encryption 65

Hunton Privacy

JANUARY 24, 2018

On January 22, 2018, the New York Department of Financial Services (“NYDFS”) issued a press release reminding entities covered by its cybersecurity regulation that the first certification of compliance with the regulation is due on or prior to February 15, 2018. DFS’s goal is to prevent cybersecurity attacks, and we therefore will now include cybersecurity in all DFS examinations to ensure that proper cybersecurity governance is being practiced by our regulated entities.

Financial Services 52

Financial Services Insurance Marketing Cybersecurity 52

Perficient Data & Analytics

AUGUST 30, 2018

Data governance doesn’t start in a vacuum; it requires plenty of advance thinking, preparation, and strategy. As such, successful data governance must begin with a foundation built on data principles and a well-thought-out data strategy. Data principles are core guidelines and beliefs that form the backbone of the data strategy and core data governance capabilities.

Government 41

Government Metadata Financial Services IT 41

erwin

DECEMBER 20, 2018

The driving factors behind data governance adoption vary. Whether implemented as preventative measures (risk management and regulation) or proactive endeavors (value creation and ROI), the benefits of a data governance initiative is becoming more apparent. Historically most organizations have approached data governance in isolation and from the former category. Defining Data Governance. www.erwin.com/blog/defining-data-governance/. to Data Governance 2.0

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Government Metadata Compliance Analytics 40

Perficient Data & Analytics

SEPTEMBER 27, 2018

This needs to be abstract enough to gain acceptance across the financial institution, yet maintain an appropriate level of detail required to support clear ownership. data governance components) of data governance, which can help drive better business decisions, enhance regulatory compliance, and improve risk management.

Government 41

Government Metadata Compliance Risk 41

Perficient Data & Analytics

OCTOBER 4, 2018

Before a financial institution can agree on authorized sources of data, there must first be a common understanding of the type of data being sourced. data governance components) of data governance, which can help drive better business decisions, enhance regulatory compliance, and improve risk management. Establishing an authoritative sources capability confirms the enterprise approved source for data ownership, including both origination and distribution.

Government 41

Government Data Privacy Compliance Risk 41

InfoGoTo

JULY 9, 2019

Blockchain integration is one of the hottest technology topics in the business world today, with financial services and healthcare sectors leading the way in exploring how to integrate blockchain into their organizations. A recent PwC survey of 600 executives from 15 territories noted that 84% of respondents are actively involved with blockchain in some form, with financial services taking the lead. A Financial Services Roadblock.

Information governance 40

Information governance Blockchain Insurance GDPR 40

Perficient Data & Analytics

SEPTEMBER 13, 2018

The data governance road map should define a data governance operating model and organization structure. As part of the structure, an executive steering committee should be established with representation from all key areas of the financial institution. The steering committee is responsible for providing overall direction and vision for the company’s data strategy and governance and should define key roles for effectively managing data across the company.

Government 40

Government Risk Compliance Financial Services 40

The Security Ledger

JULY 21, 2020

Business Consumer cybercrime FBI Finance fraud Government Threats 401k financial servicesHacking attacks on 401(k) plans and retirement savings accounts are growing and court rulings could have a far-reaching impact on who is liable. The post 401(k) Cyber Fraud Is Growing.

Financial Services 52

Financial Services Security Government 52

erwin

NOVEMBER 14, 2019

Data governance tools used to occupy a niche in an organization’s tech stack, but those days are gone. The rise of data-driven business and the complexities that come with it ushered in a soft mandate for data governance and data governance tools. Data governance refers to the strategic and ongoing efforts by an organization to ensure that data is discoverable and its quality is good. Research indicates business leaders recognize the need for data governance tools.

Government 83

Government Metadata Data breaches Insurance 83

IG Guru

DECEMBER 11, 2019

AIEF Archives ARMA Audit Blockchain Business Compliance IG News Information Governance information privacy information security Privacy Record Retention Records Management Risk News Sponsored Accounting Records AI Documentation Financial Services Retention

Blockchain 52

Blockchain Financial Services Archiving Records Management 52

erwin

FEBRUARY 7, 2019

As such, traditional – and mostly manual – processes associated with data management and data governance have broken down. The banking, financial services and insurance industry typically deals with higher data velocity and tighter regulations than most. The erwin Automation Framework is a key component of the erwin EDGE platform for comprehensive data management and data governance.

Metadata 77

Metadata Healthcare Financial Services Insurance 77

Collibra

MARCH 11, 2021

Data governance is a very intricate field, so implementing and sustaining data governance comes with a suite of challenges. Luckily, thousands, if not millions, of organizations use data governance to improve their operations, so you can learn from others’ mistakes and successes.

Government 56

Government Communications Insurance Customer Experience 56

erwin

APRIL 11, 2019

Some industries, such as healthcare and financial services, have been subject to stringent data regulations for years: GDPR now joins the Health Insurance Portability and Accountability Act (HIPAA), the Payment Card Industry Data Security Standard (PCI DSS) and the Basel Committee on Banking Supervision (BCBS). Fortunately, whenever the time comes, the first point of call will always be data governance, so organizations can prepare.

Retail 80

Retail Government Financial Services Metadata 80

Perficient Data & Analytics

SEPTEMBER 9, 2019

We recently spoke with Arvind Murali , Data Governance Chief Strategist, to get his perspective on data governance, building data strategies to optimize business outcomes, and his life beyond the world of strategy. Then, I translate that feedback to help them build data strategy and governance to support and manage their data infrastructure. This support includes moving clients towards Data-as-a-Service (DaaS) models that directly creates bottom line opportunities.

MDM 50

MDM Artificial Intelligence Financial Services Marketing 50

Data Breach Today

DECEMBER 31, 2020

Financial services commentator Chris Skinner explains why state governments and AML concerns are to blame Facebook's relaunch and rebrand of its Libra digital payment initiative as Diem is seen by some as a shadow of its former self.

Financial Services 160

Financial Services Government IT 160

InfoGoTo

JULY 8, 2020

During the Great Recession, the ownership of mortgages and mortgage servicing rights became a problematic issue, due to the common practice of loan originators repackaging and selling loans to servicing firms who, in turn, often sold them again.

Paper 72

Paper Communications Financial Services Government 72

InfoGoTo

JULY 16, 2020

The financial fallout from COVID-19 never seems to stop spreading. This means even greater challenges for servicers, who are dealing with record volumes and geographically scattered employees no longer working in a central office.

Document services 74

Document services Communications Financial Services Security 74

InfoGoTo

JUNE 5, 2019

For P&C insurers, the handling of retention and disposition of minor claims files have historically been challenging due to poor information governance (IG) practices. Financial Services CCPA information governance insurance insurance clients insurance industry United StatesPrivacy laws and regulations are changing at a rapid pace in the United States. Recently introduced and imminent regulations such as GDPR, CCPA , NY DFS etc.

Information governance 40

Information governance Metadata Risk Privacy 40

InfoGoTo

MARCH 30, 2020

For mortgage lending and other financial services work, security issues can be particularly challenging. Financial Services COVID-19 interest rates low interest rates remote work

Communications 68

Communications Computer and Electronics Personal data Privacy 68

Collibra

NOVEMBER 3, 2020

For banks to ensure preparation for CCAR MRA and sustainable regulatory compliance, they need to shift their thinking to focus on data governance, which requires a different set of capabilities. CCAR MRAs and governance capabilities . When preparing for CCAR MRAs, it is essential to have a comprehensive set of data governance capabilities that all work together. 6 must haves for your governance platform. Data Governance CCAR CCAR MRAs Financial Services

Metadata 43

Metadata Compliance Financial Services IT 43

erwin

MARCH 28, 2019

This also extends to industry-specific other compliance mandates such as those in healthcare, pharmaceutical and the financial services industries. The Regulatory Rationale for Integrating Data Management & Data Governance. What is business process modeling (BPM)? A visual representation of what your business does and how it does it. Why is having this picture important?

Compliance 61

Compliance Healthcare Customer Experience Financial Services 61

Collibra

FEBRUARY 11, 2020

Regulators are focusing on the data relationships financial services organizations have with third parties, including how well personal information is being managed. Others are realizing that they need to outsource critical services to specialist service providers. .

Digital transformation 56

Digital transformation Personal data Compliance Cybersecurity 56

Data Matters

JUNE 5, 2018

The Act makes many significant modifications to the postcrisis financial regulatory framework, although it leaves the core of that framework intact. One major consequence of the Act may be an increased potential for mergers, acquisitions and organic growth among regional and midsize banks, as well as community banks, because of provisions that increase the thresholds that must be met before various financial regulatory requirements apply. Initiating Online Banking Services.

Financial Services 65

Financial Services Insurance Authentication Government 65

erwin

NOVEMBER 14, 2019

Data governance tools used to occupy a niche in an organization’s tech stack, but those days are gone. The rise of data-driven business and the complexities that come with it ushered in a soft mandate for data governance and data governance tools. Data governance refers to the strategic and ongoing efforts by an organization to ensure that data is discoverable and its quality is good. Research indicates business leaders recognize the need for data governance tools.

Government 40

Government Metadata Data breaches Insurance 40

eSecurity Planet

JANUARY 21, 2021

Governance, risk, and compliance (GRC) software helps businesses manage all of the necessary documentation and processes for ensuring maximum productivity and preparedness. Third-party governance. IT governance and security. Financial reporting compliance.

Compliance 56

Compliance Risk Government Retail 56

The Last Watchdog

FEBRUARY 25, 2019

Related: Applying ‘zero trust’ to managed security services. based supplier of identity access management (IAM) systems, which recently announced a partnership with Omada, a Copenhagen-based provider of identity governance administration (IGA) solutions. Our customers all have the pain point of wanting to have single sign-on for multiple applications, requiring capabilities like self-service and self-registration,” Curcio told Last Watchdog.

Access 144

Access Government Authentication Cloud 144

AIIM

NOVEMBER 3, 2020

More and more records managers in state and local government operations tell me that their job is changing. Marni suggests that engaging managed service partners is an important benefit for organizations looking to reframe their business strategies in today’s challenging marketplace.

Records Management 55

Records Management Financial Services Marketing Government 55

Perficient Data & Analytics

MAY 3, 2018

The new requirements can be daunting for a firm because they create the prospect of disparate data sources, nascent data governance programs, and stretched operational support on top of the need to run a highly competitive business. Our new guide discusses the background of the SEC’s Investment Company Reporting Modernization Rules and the potential effects on individual financial institutions, including: Why the SEC established new rules.

Financial Services 40

Financial Services Risk Compliance IT 40

Perficient Data & Analytics

OCTOBER 30, 2018

The first step any financial institution must take in its response to the new CCPA law is to evaluate its exposure and current state of readiness. Areas that may require immediate action include any of the following: Planning: Review of project governance, project plans, and risk logs to identify red flags. Analysis: Identification of critical process and data gaps, implementation or reinforcement of governance processes, documentation of requirements.

Insurance 40

Insurance Risk Privacy Government 40

Perficient Data & Analytics

MAY 9, 2018

In a new guide, we discuss the background of the SEC’s Investment Company Reporting Modernization Rules and the potential effects on individual financial institutions. Other amendments and rules with which you must comply: Enhanced disclosure about derivatives in financial statements. The snippet below shares the rules’ objectives and expectations. The SEC wants to improve: The quality of information that funds report to the Commission.

Access 40

Access Financial Services Risk Compliance 40

Perficient Data & Analytics

JUNE 1, 2018

In a new guide, we discuss the background of the SEC’s Investment Company Reporting Modernization Rules and the potential effects on individual financial institutions. Data Governance: Data dictionary, lineage, and stewardship processes must be established for required data elements used in the new reports, as well as demonstrated to the SEC, if required.

Data collection 40

Data collection Financial Services Risk Compliance 40

Perficient Data & Analytics

JUNE 5, 2018

Immediate action areas may include any of the following: Planning: Review of project governance, project plans, and risk logs to identify red flags. Analysis: Identification of critical data gaps, implementation or reinforcement of data governance processes, and documentation of requirements. Implementation: Technical services to acquire and integrate new data sources, develop data quality checks and approval workflows, and make website upgrades.

Financial Services 40

Financial Services Risk Compliance IT 40

Perficient Data & Analytics

MAY 17, 2018

In a new guide , we discuss the background of the SEC’s Investment Company Reporting Modernization Rules and the potential effects on individual financial institutions. The snippet below shares some deadlines the new rules present. Form N-PORT. If you are a larger entity with net assets of over $1 billion, you were initially required to comply by June 1, 2018. The SEC has granted a nine-month delay, but you must still gather and maintain all the required data as of June 1, 2018.

Financial Services 40

Financial Services Risk Compliance IT 40