Data Custodian<\/span><\/li><\/ul><\/li><\/ul>\n\n\n\nThe remainder of this best practice focuses on the\nactivities of the Data Management Practitioners.<\/p>\n\n\n\n
Scope<\/h2>\n\n\n\n
The scope set by the Work Group<\/span> included a set of Design Concepts confined by the GDPR<\/span> compliance requirements with impacts on data and the Data Management function<\/span>.<\/p>\n\n\n\n\n
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Customer<\/strong> -Centric Business Value<\/strong><\/td><\/tr>While GDPR<\/span> is a regulatory mandate, if executed effectively, there is a significant business value derived from the resulting customer<\/span> concentricity and enhanced customer<\/span> relationship. The GDPR<\/span> requires a process<\/span> of interaction with a customer<\/span> that delivers transparency, customer<\/span> empowerment, efficient portability, and data quality<\/span>. These are all opportunities to deepen the relationship and develop trust providing a positive customer<\/span> experience to drive profit and gain competitive advantage. Additionally, the availability of quality data enables customer<\/span> knowledge, cross-sell and upsell, and the opportunity to offer the right product at the right time in the customer<\/span> lifecycle.<\/td><\/tr>The Role of the CDO & Data Management Function<\/strong><\/strong><\/strong> <\/strong><\/strong><\/td><\/tr>The CDO<\/span> is NOT usually accountable for GDPR<\/span> compliance; however, the CDO<\/span> and the Data Management function<\/span> still play a significant role in satisfying the GDPR<\/span>. Data Management is a control function<\/span> that needs to support the privacy control function<\/span> accountable for GDPR<\/span> compliance and the business units which must manage privacy within their business process<\/span>. The foundation for supporting the data and Data Management requirements of GDPR<\/span> compliance are in place if the adoption of the DCAM<\/span> Framework accomplishes and Achieved<\/em><\/strong> capability level. The challenge is maturity and consistency<\/span> of execution across the organization because the processes and data impacted by GDPR<\/span> exist in many areas across the organization.<\/td><\/tr>Alignment to Organizational Ecosystem<\/strong><\/td><\/tr>GDPR<\/span> requires a risk framework where all the lines of defense (1st<\/sup>, 2nd<\/sup>, and 3rd<\/sup>) work in concert to ensure the organization achieves the outcome of valuing and protecting customer<\/span> privacy and data. The Data Management function<\/span> must facilitate the collection of requirements from across a variety of ecosystem stakeholders (e.g., Privacy, Risk, Info Security, Data Retention, Technology, AML\/KYC).<\/td><\/tr>The Role of Technology<\/strong><\/td><\/tr>GDPR<\/span> requires a strategic alignment between all data stakeholders, and Information Technology (IT) solutions must be a part of the overall solution. The best efforts <\/em>requirement of GDPR<\/span> requires the application of appropriate technical and organizational measures.
A best practice approach may include technical automation to support Data Management activities such as data identification, lineage, and metadata<\/span>. Also, beyond standard<\/span> access controls, more advanced tools may be applied for data to be encrypted, tokenized, anonymized, or pseudonymized at rest, in transit and memory. These are technology solutions to restrict who is allowed to view the data and for what purposes.<\/td><\/tr>The Role of Master Data<\/strong><\/strong> <\/strong><\/td><\/tr>| The Work Group<\/span> acknowledges the value of Customer<\/span> Master data<\/span> – if customer<\/span> data is controlled in a single | | | | | | | | | |
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