Melecio Jr Valerio, Head of Enterprise Data Management, FWD Insurance
1. Tell us a bit about yourself...
It has always been a passion of mine to work with data. I was once an IT project manager, then there was an opening within the company as Head of Data Governance. I applied for it and took the opportunity. I was selected and from there on, I expanded my role.
2. Trust, privacy: Based on what you’re seeing what do you think the big trust issues are that will create barriers or opportunities?
I would say how are you sure to secure and protect PII (Personally Identifiable Information) or sensitive data once you perform data consolidation, data democratization and put it on the cloud. Many senior management professionals are hesitant to put the data on the cloud because of data privacy issues. Once this is being put on hold, you compromise the opportunity to leverage and monetize data.
In today’s digital transformation and data as the new oil, it is very critical to have real-time data within the organization to make informed decisions. If you want to be ahead of your competitors, leverage and utilize data. Having a real-time and accurate data, you will be an edge as it will bring you to the next level.
Real-time applications and data on the cloud are I would think have been accelerated now. Many organizations want to really leverage data. They want to monetize it. Gone are the days that data are being stored on-premise. Data are now put on the cloud for the primary reason of being scalable and flexible because of the exponential data growth. You cannot keep it via on-prem.
5. How are you building sustainable data governance?
Data Governance is not a project. It is actually a program and continuous improvement and should always adapt to the situation over time. To build sustainable data governance, there is a need to provide a mid to long term roadmap focusing on managing and governing data on its overall data life cycle. Involvement of senior management, as well as those people on the ground (Data Stewards, data consumer, data producer, etc), is very important so that everyone will be on the same page and the momentum will go on. Providing a regular report such as the data quality dashboard is also an important factor in measuring the progress of the Data Governance program and ensure to provide tangible and intangible business impact/benefits.
6. Who should be part of the committee?
I would say the C-suite level should be part of the committee. For whatever DG initiatives, there should be buy-in from senior management, have sponsorship and get a commitment with them. They should be responsible to provide oversight on the data management initiatives set forth by Data Governance.
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