A New and More Visible Leadership Role The Chief Data Officer Jennifer Ippoliti CDO, Raymond James Financial

Care and Feeding of your New CDO Agenda: Why So Visible? Introduction What a Chief Data Officer Does – or Ought to Do History of the CDO Role Chief Data Officers come in Flavors Shaping the Role ✓

The CDO Role: Fast Facts are female (Gartner study) 25% of the job is building consensus (Jeff Kelly) 50% report to a business exec (Randy Bean, WSJ Online) 64% of CDO’s time is spent on data cleansing (10% on business insight) – Michael Versace, IDC 90% # of infographics about CDOs produced by IBM so far 2

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 –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 Fun Facts  Worked at Lehman during the bankruptcy  Traveled to India 11 times  Lived on a sailboat for 16 years

Care and Feeding of your New CDO Agenda:

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 Capital One appoints a CDO Things start getting crazy here Citi appoints a CDO The Fed poaches Citi’s CDO BoA poaches the Fed’s CDO BoA hires ex Yahoo CDO Hadoop is born Skytree reports 18% of orgs surveyed already had CDOs Gartner reports # of CDOs doubled from 2012 to 2013 Credit Crisis HSBC elevates CDO to Group level Dodd-Frank By the end of 2014, Gartner predicts 17% of large organizations will have a CDO CSFB appoints a CDO Northern Trust names a CDO

Why did your firm appoint a CDO? How is it working out so far? Q & A

Care and Feeding of your New CDO Agenda:

Why So Trendy? “The Rise of the Chief Data Officer”

Explanation #1 History of Google Searches on: Big Data Chief Data Officer

How regulated are we in Financial Services? Let’s just say that a Financial Data Aggregation company called Alacra created a “Periodic Table of Bank Regulation and Compliance” The Volcker rule alone includes 1,420 sub- questions That’s 23 times longer than it’s predecessor, Glass-Steagall Dodd Frank law of 2010: 848 Pages Explanation #2 Regulatory Climate (it’s not pretty)

Care and Feeding of your New CDO Agenda:

Typical reporting structures for CDOs Focus on regulatory compliance Keeping the CEO out of jail Regulations Hadoop Lab in the conference room Where can I find a Data Scientist? Big Data & Analytics Our Data is Pretty Broken Still trying to centralize our data Data Quality Need to get decisions made Our data is out of control Governance & Policy How (or what) can we sell or cross- sell to our clients? Revenue Generation CRO CIO or CMO COO or CIO COO or CEO CMO

What kind of CDO do you have? What kind of CDO do you need? Q & A

Care and Feeding of your New CDO Agenda:

A typical non-IT CDO’s Responsibilities …keep in mind, there is no “typical” CDO! Functional Scope Governance Strategy Administration Quality & Stewardship Technology Partner Data Scope Instrument Client & Account Assets & Liabilities Legal Entity/ Counterparty Pricing Corporate Actions Org Structure Unstructured Data Analytics Organizational Scope RJA RJFS Bank Insurance Asset Management Capital Markets Regions Marketing Compliance Risk Finance Out of Scope: Development, Architecture, Analytics

Deep Dive Functional Scope Governance Strategy Administration Quality & Stewardship Technology Partner Sets policy, standards, definitions for in-scope data. Gets decisions made. Sets policy, standards, definitions for in-scope data. Gets decisions made. 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 Creation Expansion Documentation Starting Late Sending Delegates 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 Implementable Enterprise Level Consistent Definitions 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 One set of Consolidated Business Requirements Client Reporting GPM Client Onboarding Key Principles

How the CDO and IT Divide and Conquer CDO – CIO Partnership Real-Life Example: Consolidated Client Master Business Requirements Data Requirements Scoping High Level Data Concepts and Definitions Functional Requirements Design Code Build Test Run Business Decisions Business Decisions

Would it make your life easier if someone else was driving getting business decisions made? CDO – CIO Partnership Open Discussion

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? Q & A

Care and Feeding of your New CDO Agenda:

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? Questions to Ask Yourself

Thank you! Any Questions?