The EY Data Culture

Approach to Data Risk

 Agenda
01 11:00 – 11:05 | Opening
11:05 – 11:15 | The different data
02 challenges
11:15 – 11:25 | Introducing Data
03 Risk
11:25 – 11:35 | Data Culture as
04 Data Risk approach

05 11:35 – 11:50 | Sector Insights

06 11:50 – 12:00 | Questions

Page 2
 Rob Polderman – Associate Partner
rob.polderman@nl.ey.com
+31 6 29084288

Jennifer Allermann - Manager

jennifer.allermann@nl.ey.com
+31 6 21251827

With you today

Lance Cameron – Senior Manager
lance.cameron@nl.ey.com
+31 6 21252777

Martijn Spaan – Head of Data & Oversight at NN

Investment Partners
martijn.spaan@nnip.com

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 Have you found the hidden treasures in your data?

Customer

Customer 360
KYC
AML BCBS 239 Journey

Selling
CDD

Cross
Solvency 2 NBO

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 The different data
challenges
There are many different Data & Analytics
responsibilities that data
professionals are currently
juggling. The weight of each Data Risk Data Monetization
of them depends on the
organization’s strategic
priorities, risk appetite and
the distribution of functions Data Ethic Data Data Developer
among areas.

Data Governance Data Privacy & Protection

Data Architecture

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What is a Data Culture?

In a data culture …

• people understand the value of data

“
Culture and data literacy are the top
two roadblocks for data and analytics
leaders. (Source: Gartner)
• people know why it is important (purpose of data)

• people understand their role towards data (what and how)

• the business strategy is translated into a data strategy

• data management including data quality are mature

• data risks have been converted into risk appetite

• data risk mitigations are assimilated in business control frameworks

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 Why is a data culture important?

“
Data Culture surpasses Data Strategy as it drives
behavior more permanently through impacting the
collective consciousness, beliefs and needs around data.

Data
Culture

Data Data Data Data

Strategy Governance Management Privacy

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 Data strategy
Grow maturity path
Data Management Maturity

Optimize
Offensive
Data Value Management

Protect

Defensive
Data Risk Management

Organization value

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 Strategic Conduct
Risk Risk

Financial Reputational
Risk Data Risk Risk

Operational Compliance
Risk Risk

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 Data risk

Data
Data quality Data culture Data regulation
management Data usage risk
risk risk risk
risk

… risk that limited

awareness and
understanding of
data risk and
potential value to
be realised from
data usage
restricts capacity
to support firm
objectives.

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 Data culture
risk

Data
Data innovation
Data ethics risk Data skills risk engagement
risk
risk

“
CDOs should deliberately orchestrate the
creation of competencies across the enterprise,
ensure the consistency of distributed practices
and build enterprise abilities that underlie
future success. (Source: Gartner)

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 Data culture allows you to balance data risks and opportunities

Data risk Data value

Data culture
management management

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 Data Risk Management

To be successful in the world of

tomorrow organizations need to …
Defensive Offensive
PROTECT
OPTIMIZE
GROW
• integrate data risk control
objectives
Smart rules (data driven controls) • add data-driven mitigations such as
smart rules to the framework
Current measures & controls
• upgrade reporting to include data
DATA risk status

Infrastructure and applications

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“
Some describe culture as “the collective conversations of an
enterprise.” As a result, one cannot change the behaviors and
Data culture
belief systems of an enterprise without changing the
conversations within it. (Source: Gartner)

Data Success
Data Mindset
Data Literacy
Data
Awareness

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 Polling Question

Please enter one or two words describing your

organization’s main challenge in realizing a data
culture

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 Data culture

Counteracting data
Data Success innovation risk
Counteracting data
Data Mindset engagement risk
Counteracting data
Data Literacy skills risk

Data Counteracting data

Awareness ethics risk

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 Polling Question - Result

SHOW WORDCLOUD

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 Data culture
Which
action to
take?
Data Success
• Using data &
Data Mindset analytics to
improve the
• Ambassadors customer
Data Literacy • Coaching of journey,
employees products &
• Training for • Leadership services
Data
tools and data leads by • Using data &
Awareness assets such as example using analytics to
• Sharing use dashboards data assets in develop new
cases daily business products &
• Communication • Showcasing services
• Marketing the value of
• Code of applying data
conduct assets

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 How to start?
1 EY Data Risk Model 2 Current & Future State Assessment
DMM Capability Assessment
Submitted by:

Representing:

The proposed assessment is associated with critical data. The scope of the evaluateion should consider capabilities
across the entire organization. The model examines the consistency of how the processes are applied in each
functional area, line of business, organization, and the enterprise.

Maturity Levels
EY Data Risk Assessment
Performed Managed Defined Measured Optimized

Priority Current Target

Component Process Purpose 1 2 3 4 5
Ranking Score Score

Defines the vision, goals, and objectives for the data management program, and ensures Strategy is continuously improved
Decision making and planning vary from The basic components of a strategy exist A formal strategy is collaboratively The strategy is managed using metrics
Data Management that all relevant stakeholders are aligned on priorities and the program’s implementation through dynamic feedback loops.
project to project, from business unit to and are followed within a business unit or developed and consistently followed that measure key performance indicators
Strategy and management. Successful approaches are shared with
business unit. crosscutting program. across the organization. for successful strategic planning.
industry.

Ensure that policies, standards, processes, progress announcements, and other data Communications vary from project to Communications are planned and Formal communications are established The effectiveness of communications Best practices in communications
Communications management communications are published, enacted, understood, and adjusted based on project, from business unit to business executed consistently within a business and consistently followed across the processes are measured and managed practices are both adopted from and
feedback. unit. unit or cross-cutting program. organization. using predictive analysis. shared with industry.

An interaction model and engagement An organization-wide data management

model is approved; practices are function is established with a designated The organization has detailed visibility
Provides guidance for data management leadership and staff to ensure that data is The organization has the ability to
Data management staff and activities are consistent; roles and responsibilities for executive leader, data management roles into the effectiveness of the data
Data Management Data Management managed as a corporate asset. Executive oversight is critical to establish and maintain continuously optimize and flexibly
typically part of a project team, with DMF / Governance interaction, resource have established bidirectional interactions management function and makes
Strategy Function data management principles, facilitate adoption, and ensure alignment across the allocate data management resources to
varying titles and roles. models are defined; a management with data governance, data management adjustments based on quantitative
organization. target strategic goals.
structure is in place; and the organization processes are defined, and the function is analysis.
adapts to changing business needs. visible across the organization.

Business cases templates are defined

Provides a rationale for determining which data management initiatives should be funded, Business cases are used to make Business cases are consistent with Best practices in managing the business
and used consistently to make funding Costs and benefits are measured and
Business Case and ensures the sustainability of data management by making decisions based on financial funding decisions, and their formats vary organization standard and reflect total case are both adopted from and shared
decisions within a business unit or cross- managed to improve funding decisions.
considerations and benefits to the organization. by project. costs and overall benefits. with industry.
cutting program.

Business case funding meets defined

Aligned with standard funding approach Best practices in program funding are
Ensure the availability of adequate and sustainable financing to support the data Projects are funded based on cost-benefit criteria, involves stakeholders; costs are Funding is measured and managed to
Program Funding and with data management objectives; both adopted from and shared with
management program. analyses. mapped to the business, and are improve funding process.
funding is tracked and measured. industry.
regularly monitored through governance.

3 Data Culture Scorecard 4 Data Culture Roadmap

Data Culture Define Data Update data control Design data
Culture Approach framework & reporting ethics rules

Data
Data Quality
Management
Integrate Data Risk Add data-driven AI to gain offensive
Control Objectives mitigations/measures insights

Data Privacy Data Usage

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 What will be your first step to actively
grow your data culture?

Data
Culture

Data Data Data Data

Strategy Governance Management Privacy

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 Next Webinar Follow-up

Attend our webinar about data We are happy to start a conversation with you
on how to establish a mature data culture in
culture, privacy & smart rules as your organisation and how this attributes to
well as data fabric in April. your business goals.

Rob Polderman Bernadette Wesdorp Jennifer Allermann Lance Cameron

Associate Partner Senior Manager Privacy Manager Data Strategy Senior Manager Data Governance
rob.polderman@nl.ey.com bernadette.wesdorp@nl.ey.com jennifer.allermann@nl.ey.com lance.cameron@nl.ey.com
+31 629084288 +31 621252753 +31 621251827 +31 6 21252777