Identifying quick wins
The Bank of the Midwest hired you as their chief data and analytics officer. You joined the company in the middle of Q1. After a bumpy Q4 and year-end closing process, the regulators discovered that the liquidity reporting used to manage the short-term cash position of the organization was full of inaccuracies. The primary regulator requested a full review of the report production, including all underlying systems and data flows, and a review of the company. This report is critical for banks because it compares their short-term assets (cash, convertible securities, and so on) and their short-term liabilities (deposits, short-term loans, and so on). By comparing the values, the bank is able to determine its ability to cover its obligations and avoid a liquidity event where the organization becomes insolvent.
You sat down on your first day with your manager: the chief operating officer. They explained that while your role as the CDAO is broader than addressing...