Avoiding Common Data-related Regulatory Findings

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Big Data plays into nearly every decision at a bank today, from the development of new products to approving customers for loans. Because the use of data can potentially impact customers in negative ways, federal regulators are increasingly assessing whether organizations have data management in check. It’s not just lip service. A review of recent regulatory of consent orders and MRAs reveals a noticeable uptick in data-related findings. A deeper dive shows that many of those could have been avoided with the right practices and protocols in place.

Spinnaker’s Data & Analytics practice lead Stephanie Lennon partnered with her team’s experts to help data leaders in banking understand the risks at stake by not proactively addressing data management. That includes building and nurturing a culture where everyone understands and lives up to their responsibility to data management.

In the latest white paper, Proactive Data-Related Consent Order Avoidance, the team taps into its front-line experience in analytics, data science and process management to identify key steps for banks to take in building a data environment that meets today’s regulatory expectations. In the piece, readers will learn: 

• The increasing role that data in business decisioning and why that’s attracting regulators’ attention. 
• How to build a data management culture that is unique to the organization, from a small local credit union to a megabank. 
• Three smart strategies to implement now to prevent the most commonly cited issues by oversight agencies

Don’t wait for a regulator to issue a finding. Get started by downloading your copy today!