The Chief Data Officer
A New and More Visible Leadership Role
Jennifer Ippoliti
CDO, Raymond James Financial
Agenda:
Care and Feeding of your New CDO
✓
1
Introduction
2
History of the CDO Role
3
Why So Visible?
4
Chief Data Officers come in Flavors
5
What a Chief Data Officer Does – or Ought to Do
6
Shaping the Role
The CDO Role: Fast Facts
25%
• are female (Gartner study)
50%
• of the job is building consensus (Jeff Kelly)
64%
• report to a business exec (Randy Bean, WSJ Online)
90%
• of CDO’s time is spent on data cleansing (10% on
business insight) – Michael Versace, IDC
2
• # of infographics about CDOs produced by IBM so far
About Me
• 2013 – Present: Raymond James Financial
– Chief Data Officer
• 2008 – 2013: Wipro Technologies
– Global Practice Director, Data Management
• 2007 – 2008: Lehman Brothers / Barclays Capital
– Global Data Management Services (CDO Team)
• 1997 – 2007: Accenture
Fun Facts

Worked at Lehman
during the
bankruptcy

Traveled to India
11 times

Lived on a
sailboat for 16
years
– Data Management Practice – Founding Member
– JP Morgan Chase – Trading Technology Lead
• 1996 – 1997: Banque Paribas
– Trading Technology Lead
• 1991 – 1996: Crédit Lyonnais
– Disaster Recovery Coordinator
– Mediocre Corporate Systems Developer
Agenda:
Care and Feeding of your New CDO
✓
1
Introduction
2
History of the CDO Role
3
Why So Visible?
4
Chief Data Officers come in Flavors
5
What a Chief Data Officer Does – or Ought to Do
6
Shaping the Role
What exactly is a Chief Data Officer?
• “CDOs manage their companies’ enterprise-wide data
administration and data mining functions.” – Deloitte Consulting
• “[A CDO is…]a leader who is empowered to be the steward and champion of the
enterprise’s information.” – Capgemini
• [The CDO’s job is …] “identifying how data can be used to support the
company’s most important priorities. – Harvard Business Review
• [The CDO’s job is … ] “Keeping their CEO from being broadcast live during
their “perp walk in his/her orange jumpsuit” for failure to accurately report on
SARBOX, Dodd-Frank, Basel III, etc.” – MIT 2013 CDO-IQ Summit
A brief history…
…of the CDO in Financial Services
By the end of 2014, Gartner predicts 17% of large organizations will have a CDO
Northern
Trust names
a CDO
BoA hires ex
Yahoo CDO
Gartner reports #
of CDOs doubled
from 2012 to 2013
Capital One
appoints a
CDO
2003
Citi appoints
a CDO
The Fed
poaches
Citi’s CDO
CSFB
appoints
a CDO
BoA poaches
the Fed’s
CDO
HSBC
elevates CDO
to Group level
Skytree reports
18% of orgs
surveyed already
had CDOs
2006
Hadoop is
born
2008
Credit
Crisis
2010
2012
Dodd-Frank
2014
Q&A
• Why did your firm appoint a CDO?
• How is it working out so far?
Agenda:
Care and Feeding of your New CDO
✓
1
Introduction
2
History of the CDO Role
3
Why So Visible?
4
Chief Data Officers come in Flavors
5
What a Chief Data Officer Does – or Ought to Do
6
Shaping the Role
Why So Trendy?
“The Rise of the Chief Data Officer”
Explanation #1
History of Google Searches on:
Chief Data Officer
Big Data
Explanation #2
Regulatory Climate (it’s not pretty)
Dodd Frank law
of 2010:
848 Pages
That’s 23 times
longer than it’s
predecessor,
Glass-Steagall
How regulated are we in Financial Services?
The Volcker rule
alone includes
1,420 subquestions
Let’s just say that a Financial Data Aggregation company
called Alacra created a “Periodic Table of Bank Regulation
and Compliance”
Agenda:
Care and Feeding of your New CDO
✓
1
Introduction
2
History of the CDO Role
3
Why So Visible?
4
Chief Data Officers come in Flavors
5
What a Chief Data Officer Does – or Ought to Do
6
Shaping the Role
Typical reporting structures for CDOs
Regulations
• Focus on regulatory compliance
• Keeping the CEO out of jail
• Hadoop Lab in the conference room
CIO or
CMO
• Our Data is Pretty Broken
• Still trying to centralize our data
COO
or CIO
• Need to get decisions made
• Our data is out of control
COO
or CEO
Big Data & Analytics • Where can I find a Data Scientist?
Data Quality
Governance &
Policy
Revenue
Generation
CRO
• How (or what) can we sell or crosssell to our clients?
CMO
Q&A
• What kind of CDO do you have?
• What kind of CDO do you need?
Agenda:
Care and Feeding of your New CDO
✓
1
Introduction
2
History of the CDO Role
3
Why So Visible?
4
Chief Data Officers come in Flavors
5
What a Chief Data Officer Does – or Ought to Do
6
Shaping the Role
A typical non-IT CDO’s Responsibilities
…keep in mind, there is no “typical” CDO!
Functional Scope
Data Scope
Organizational Scope
• Governance
• Strategy
• Administration
• Quality & Stewardship
• Technology Partner
• Instrument
• Client & Account
• Assets & Liabilities
• Legal Entity/ Counterparty
• Pricing
• Corporate Actions
• Org Structure
• Unstructured Data
• Analytics
• RJA
• RJFS
• Bank
• Insurance
• Asset Management
• Capital Markets
• Regions
• Marketing
• Compliance
• Risk
• Finance
Out of Scope: Development, Architecture, Analytics
Deep Dive
Functional Scope
Sets policy, standards, definitions for in-scope data.
Gets decisions made.
Functional
Scope
•Governance
•Strategy
•Administration
•Quality &
Stewardship
•Technology
Partner
Sets strategic direction and roadmaps for in-scope data
Manages data procurement, contracts, entitlements, and
vendor relationships
Data Operations: Stewards the data housed within enterprise
master databases; maintains an agreed level of quality
“One stop shopping” for data and business ownership;
if we don’t directly own it, we know who does
Governance
The Meeting Lifecycle
Starting Late
Sending Delegates
Documentation
Expansion
Creation
Disbanding
Governance: Really?
Do we have to? Really?
• What Management Thinks They Want
– Steering Committees
– Special Purpose Committees
– Working Groups
– Governance Committees to Govern the
Governance
• What Management Actually Needs
– “Nomadic Governance”
CDO – CIO Partnership
How it works at Raymond James
Key Principles
Client
Onboarding
GPM
Client
Reporting
• The CDO function gathers
requirements that help Technology
build systems and tools that can be
used across the entire enterprise
• The CDO function collects multiple,
possibly inconsistent or conflicting
requests from the business and
provides one consolidated view
Implementable
One set of Consolidated
Business Requirements
Enterprise Level
Consistent Definitions
CDO – CIO Partnership
Real-Life Example: Consolidated Client Master
How the CDO and IT Divide and Conquer
Scoping
High Level Data
Concepts and
Definitions
Business
Decisions
Build
Test
Run
Data
Requirements
Design
Code
Business
Requirements
Functional
Requirements
CDO – CIO Partnership
Open Discussion
• Would it make your life easier if someone
else was driving getting business
decisions made?
Q&A
• What kind of challenges do you have that
a CDO might be able to help with?
• Is the partnership working for you? Why?
Why not?
• Who do you think your CDO should report
to … and why?
Agenda:
Care and Feeding of your New CDO
1
Introduction
2
History of the CDO Role
3
✓
Why So Visible?
4
Chief Data Officers come in Flavors
5
What a Chief Data Officer Does – or Ought to Do
6
Shaping the Role
Questions to Ask Yourself
• Why do we need a CDO?
• Does the CDO have a staff?
• Will the CDO manage with authority or by
persuasion?
• Who does the CDO support?
• What kind of data does the CDO support?
• What is out of scope for the CDO?
Thank you!
Any Questions?