Bank data: governance, value-creation and compliance

In an increasingly digital environment, data is becoming an important element of client relations. "The amount of data is growing at an exponential rate and the development of new technologies (Big Data, data visualisation) is enabling us to use this data to develop new services, better manage our risks and improve our operational efficiency." Emmanuelle Payan, Group Chief Data Officer, explains her central role in the governance and value-creation of data.

Emmanuelle Payan, Chief Data Officer at Societe Generale

What does your job as Group Chief Data Officer entail?

As Group Chief Data Officer (CDO), it is my responsibility – along with all of our business lines and core divisions – to define and then implement the Group's data strategy via three key objectives:

  • maintain and improve the quality of the Group's data;
  • protect and safeguard our clients' data to ensure their trust, as clients are paying more and more attention to the way their data is used and stored;
  • encourage the development of different ways to use data to improve customer service and develop new opportunities.

Achieving these objectives requires solid data governance, including a census of this data, defining the level of quality and protection we want for each type of data and defining the ways we would like and are able to use this data.

To steer all these actions, I am supported by a network of Chief Data Officers appointed in our core businesses, large entities and central divisions. We work in close collaboration with many Group entities, and in particular with all the teams that use data (notably Marketing teams, but also Finance and Risk teams). We also work with the Compliance and Legal teams and the various IT departments.

What actions have already been undertaken by the Group?

A number of actions have already begun. For example, work has started to ensure the quality of a first batch of priority data within the framework of the Regulation BCBS239 (the Basel Committee on Banking Supervision's "Principles for effective risk data aggregation and risk reporting") compliance programme. Societe Generale has published its Group data policy  as part of the Code of Conduct. Numerous initiatives to develop data usage (over 120) have begun in all our core activities and central divisions. Some of these are still at the study or proof-of-concept stage. Others are already in production. They have been implemented using new technologies such as Big Data / Data Lake with the support of the Group's Big Data skill centres.

What are your main challenges?

We face a number of challenges: accelerate the development of data usage, notably by streamlining relations between these projects' various players; prepare the Group for the implementation of the new EU regulation on personal data protection (GDPR – General Data Protection Regulation) in May 2018; continue our work to improve data quality, notably regarding regulation BCBS239; and, as always, continue to ensure that each member of staff is involved in meeting these challenges!

Big data in 3 minutes

Data, a strategic asset for Societe Generale

Today, data is central to customer relations and the Societe Generale Group organisation. In a digital environment, the Bank improves its services to its clients, its risk management, and its operational efficiency, thanks to data use while ensuring its quality, security and protection.

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