Simone Steel, Chief Data & Analytics Officer of Nationwide Building Society, talks about her company and its data analytics strategy.
What is your role and the scope of your responsibilities within the company?
The CDAO role exists to ensure data is used in an ethical, safe and compliant manner in the organization. Its core purpose is to enable the organization to realize value for the members of the building society from the data it holds.
It is now responsible for enterprise data platforms, connecting data from business and operational activities and making those available in a controlled manner to processes that need organization-wide views. Processes that are directly executed or supported include regulatory reporting, marketing communications, and master and reference data management for core data domains (customer, product).
The CDAO is also responsible for governing data by maintaining metadata about its usage, integrity and quality, provenance and privacy. To that end, the CDAO is the owner of data policies and the data governance framework, and provides methodologies, tools and components that accelerate the organization’s compliance.
The CDAO function provides analytical services that range from insights on business performance to predictive analytics, via application of machine learning models and associate management of model-related risks.
Finally, the CDAO is responsible for cultural change in the organization to ensure that skills and behaviors towards data are aligned to its ambitions and regulatory obligations.
