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Colorado Housing & Finance Authority

CHFA Engages Teknion To Assist In Designing Data Governance Framework

 

 

 

 

About CHFA:

Industry:
Financial Services
 
Location:
Dallas, TX
 
What CHFA Does:
CHFA strengthens Colorado by investing in affordable housing and community development. CHFA invests in affordable homeownership, the development and preservation of affordable rental housing and helps small and medium-sized businesses access capital.  
 
Website:
 
Solution Focus:
Data Governance | Data Strategy
 
 
"We were already informally doing Data Governance. But we wanted to make sure we got ahead of the curve for privacy and regulatory reasons by putting in a more formal Data Governance Framework"

Jon Sakanai - Business Intelligence Manager - CHFA

CHFA's Data Governance Challenge

As part of a larger Data Transformation initiative, CHFA recognized their current, informal Data Governance program needed to be transformed to keep up with the growth of their organization and the increase in Federal and State mandates.

Key Objectives Identified Included:

  • Manage increased volume of data being processed and increased access
  • Strengthen data consistency and quality
  • Ensure compliance with new regulatory mandates
Data Governance Strategic Engagement

CHFA, not sure how to get started, turned to Teknion to help them create the next generation Data Governance program framework.  To facilitate this, Teknion leveraged our Data Governance Strategic Engagement.

The Data Governance Strategic Engagement is a Teknion developed collaborative approach to understanding a client's data challenges and evaluating areas of the organization influencing and impacting data governance.

Areas we cover in the Data Governance Strategic Engagement include:

  • Policy, People & Processes
  • Potential Data Risks
  • Regulatory Implications
  • Data Quality Management
  • Data Controls

Upon completion of the evaluation, we provided a comprehensive presentation and detailed report, with recommendations to CHFA.

 

Recommendations To CHFA 

Teknion presented CHFA with a set of actionable recommendations to consider as they undertook implementation of a more formal Data Governance program.  Here are key recommendations provided:

Leverage A Data Governance Framework

We provided a customizable Data Governance Framework for CHFA to use as a mechanism for ensuring all of the appropriate areas of the organization are taken into account when developing the next generation Data Governance program.

Quantifiable Potential Risks

Minimizing or mitigating risk is one of the key tenets of a Data Governance program. During the evaluation process we were able to identify  areas of potential risk and the projected cost of those risks to CHFA.  

A Roadmap For Successful Implementation

We provided CHFA with a comprehensive roadmap and project plan, developed collaboratively with their team.  This roadmap allowed them to effectively plan and budget for this initiative helping to set a course for success.

 

 

CHFA's WOW Outcomes

The Data Governance Strategic Engagement was the first step in the full Data Governance initiative.  While the long term impacts to CHFA will be realized when the new Data Governance program is in place, the Strategic Engagement did deliver important early wins including:

  • A methodology to bring ideas and valuable input from multiple stakeholders to gain consensus.
  • Quantifiable metrics to measure success of the program.
  • A framework and a roadmap to assist in the development and implementation of the program.
  • Organizational buy-in and financial support for the investment in the Data Governance program.
"We needed outside expertise from a company that has done this before.  Teknion was the company we turned to!

Jon Sakanai - Business Intelligence Manager - CHFA

Watch the interview with Jon Sakanai regarding their Digital Transformation Journey

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 I would like to learn how Teknion can help my organization develop and implement a Data Governance Program.