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Implementing Data Warehouse Initiative Throughout The Bank
By Tom Honan, CIO, CapitalSource Bank
As the company has grown fairly rapidly in the past, a collection of systems and data sources grew as well, requiring ever growing amounts of manual effort to maintain and also making it increasingly difficult to get a “single version of the truth”. To address that concern, we identified the development of an enterprise data warehouse as a key opportunity to reduce manual effort and to provide quicker and more accurate information to support smart decision making.
Some of the things done to elevate IT with the business
As the Bank has grown, there have been instances where complex, largely manual processes have developed, creating issues with growth and improved efficiency. We have identified a few key business processes that cross several lines-of-business and are partnering with teams of business stakeholders to review and streamline them. Business is providing the subject matter expertise and IT is providing the process and project management expertise.
Manner in which data is used to head off problems and complications before they happen
We have implemented a data warehouse initiative throughout the Bank, focused on creating a ‘single version of the truth’ so that common data is used across the organization to make decisions.
The areas in business environment where solutions do not yet exist or not up to the mark, and which if existed, would've made job easier
Any wish list would have to include more mature and seamless solutions to manage mobile devices. The usage in this area is increasing, with greater desire to utilize and support so-called Bring Your Own Devices on the part of employees and IT. The issue is the goal of providing the required levels of access control, without introducing excessive complexity or increased costs into the process.
Technology trends impacting enterprise business environment
The overall pace of the “consumerization” of IT is increasing rapidly. Business users have greater expectations to leverage their personal devices and systems in the work environment, without having to be concerned with how they are secured and how they can be made to interoperate with legacy enterprise systems and security controls. We in IT are challenged to enable this movement, while keeping security controls around our own and our customer’s confidential information. This is stretching IT resources as much as it is our user’s patience.
My roles and responsibilities as a CIO
The CIO role is evolving to a more partner-centric one, collaborating and working with the line-of-business leaders becoming the key focus. I have become more involved in developing business-led groups who work with IT as key system stakeholders to ensure that IT projects and resources are fully aligned with key business initiatives
Lessons learnt and advice for fellow CIOs
IT organizations and the CIOs who lead them need to re-position themselves as service delivery organizations, focused on alignment with their business colleagues if they want to stay relevant and in a position to add value to the business. Understanding business drivers and challenges, and leveraging IT to address them is of much greater value than providing “dial tone” on a daily basis, since doing that is really the entry level requirement for any IT leader.