Enhancing Data Governance in Financial Institutions: Strategies for Effective Reference Data Management

EasyChair Preprint 12630

Abstract

Data governance is becoming increasingly crucial for financial institutions, particularly concerning reference data management. In this paper, we delve into the significance of robust data governance frameworks in financial institutions and explore strategies for effective reference data management. We examine the challenges faced by financial institutions in managing reference data, including data quality issues, regulatory compliance, and interoperability concerns. Furthermore, we propose strategies and best practices for enhancing data governance to ensure the integrity, accuracy, and usability of reference data. By implementing these strategies, financial institutions can improve decision-making, mitigate risks, and achieve compliance with regulatory requirements, thereby enhancing their competitive edge in the evolving financial landscape.

Keyphrases: Data Governance, Data Quality, Financial Institutions, Reference Data Management, Regulatory Compliance

@booklet{EasyChair:12630,
  author    = {Nakul Mehra and Kiswah Noor},
  title     = {Enhancing Data Governance in Financial Institutions: Strategies for Effective Reference Data Management},
  howpublished = {EasyChair Preprint 12630},
  year      = {EasyChair, 2024}}