Data Risk Forum

The EDM Council is excited to announce a new initiative focused on bringing together cross-functional representation of business, operations, technology, and administration functions (e.g., governance, privacy, security, operational resilience, risk, etc.) to address the critical intersection of risk and data management.

Effective data management is essential for managing risk (i.e., risk treatment) across various enterprise control functions. For example, siloed operations hinder information sharing, coordinated decision-making, and automation leading to increased data risk exposure. This initiative aims to foster collaboration between these areas by developing the following resources:

• Functional Stakeholder Matrix: A comprehensive functional stakeholder matrix will illustrate the interrelationships between various data and risk-related functions. This will inform the data lifecycle management and guide engagement, collaboration, and the orchestration of comprehensive data control.
• Industry Guidance for Risk Professionals: Develop industry guidance to help data management, analytics, and risk professionals (CDMC & DCAM) align their capabilities with relevant regulations (e.g., GDPR), standards (e.g., NIST), risk taxonomies (e.g., ORX).
• Example Discovery Questions: Provide a standardized questionnaire to establish a baseline to support the intake of stakeholders that adequately covers all relevant functions for the determination of data risk.

If you are interested in engaging with other Council participants and staying in touch with the activities of the forum, please join the Data Risk Forum!

Contact us to inquire further about the Data Risk Forum.