Discuss the origins of the gaps identified in part B and the data governance opportunities to achieve data information and governance readiness to successfully administer new loan products

Discuss the origins of the gaps identified in part B and the data governance opportunities to achieve data information and governance readiness to successfully administer new loan products

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All organizations, including financial institutions, need effective data governance to manage data as strategic assets to address their needs and goals more effectively. Data managers and data analysts are essential to equip organizations with the data acumen needed to collect data, extract patterns and facts from that data, and utilize those facts to make inferences that influence decision-making. When designing and developing a data-driven application, data governance will oversee the operation and evolution of essential capabilities to consistently manage data assets as well as the associated risks, such as security, privacy, data loss, and errors.

For this task, you will use the attached “Merrilton Bank Case Study” to analyze, assess, and prioritize people, technology, processes, and content, and propose an infrastructure needed to support a financial institution’s new expedited loan program being developed to support individual banking activities aligned with applicable laws and regulations.

SCENARIO

You are a junior credit analyst at Merrilton Bank, which has branches across several states in the United States. Your supervisor has called a team meeting and shared the agenda from leadership in the attached “Merrilton Bank Case Study.” Your supervisor has asked each team member to write a response to leadership’s agenda items that will ultimately propose an infrastructure to support the new loan program. Your supervisor will utilize the team’s feedback to prepare for the meeting with the bank’s executives and other leadership.

REQUIREMENTS

Your submission must be your original work. No more than a combined total of 30% of the submission and no more than a 10% match to any one individual source can be directly quoted or closely paraphrased from sources, even if cited correctly. The originality report that is provided when you submit your task can be used as a guide.

Using the attached “Merrilton Bank Case Study,” analyze the bank’s data governance status and gaps and provide recommendations for a meeting agenda by doing the following:

A. Describe the status of the Merrilton Bank’s essential data governance components about people, technology, process, and content.

B. Describe data governance gaps related to each of the four essential data governance components (i.e., people, technology, process, content) that manifested as a result of the current crisis in the case study and the recent opportunity to administer a new line of loans.

C. Discuss the origins of the gaps identified in part B and the data governance opportunities to achieve data information and governance readiness to successfully administer new loan products, including the following:

• the bank’s ability to respond to a sudden surprise of this magnitude based on the origins of the identified gaps
• the bank’s readiness to effectively administer new programs based on the origins of the identified gaps
• relevance of existing standards and processes for reporting, compliance, data protection, and security
• opportunities to apply best practices to current and envisioned data governance elements, including processes and operations, to elevate the bank’s emergency readiness

D. Provide recommendations for four agenda items from the case study that you will present in the team meeting from the scenario.

1. Justify each agenda item recommendation from part D in the context of the enterprise and the analysis you conducted in part C.

E. Acknowledge sources, using in-text citations and references, for content that is quoted, paraphrased, or summarized.

F. Demonstrate professional communication in the content and presentation of your submission.

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