Compliance Options: Hidden Stakeholders and You

by Gwen Thomas
January 1, 2007

“Actually,” she said, “we use that field when we calculate projected earnings, like marketing does, but we do independent calculations. That puts it in scope of Sarbanes- Oxley change control, so you shouldn’t do anything to change how you treat that data without involving us.”

What followed was a discussion of data flows, business processes, and change control protocols that involved everyone in the room. Later, evaluations confirmed that the exchange of information—and the insights gained—were considered invaluable by the participants. We not only met marketing’s need, we also added to the knowledge levels of many departments. Participants left with a promise to gladly participate in future data governance-facilitated sessions.

And I was left with a great big “whew!” The group could have inadvertently created a compliance issue while solving a marketing issue! But we didn’t, because we made sure in advance that the right people would be in the room. All data stakeholders were involved in our decision-making process.

How does this compare to how you receive instructions? Do you always know whether the data you’re asked to model, store, or manipulate could be subject to a regulatory compliance requirement? To contractual compliance? Adherence to internal standards or policies?

If you have a formal data governance program, it may provide you with the assurance that all potential data stakeholders’ needs have been considered in the requirements you’re working from. If not, you may want to run through a checklist of your own with those who are providing you with the requirements.

Such a list is available from The Data Governance Institute (www.datagovernance.com). It’s a printable list of more than 50 potential data stakeholders for any data-related decision. You might want to check it out. Z