Wealth Access Report FINAL - Flipbook - Page 16
Which of the following
positions do you
currently have on staff
at your bank?
“You have to have that quick win [so] you can take the next step,”
Respondents were asked to select
the options that best align with
their technology team’s roles and
responsibilities.
he says. “Some folks have these giant dreams, and then they’re on
Chief information security officer or
equivalent executive position
Successful use cases create momentum and underline the value
year five of a three-year plan and they have no idea where to go
from here.”
of a data initiative. Data strategies may involve tasking different
business and reporting lines with data stewardship responsibilities
59%
Chief technology officer
to ensure or validate data quality. Other roles in a bank or credit
union may need to adjust the way they work to incorporate more
data analytics into their processes.
51%
“Find a problem,” says Haisley. “Don’t fall in love with the tools.
Chief information officer
47%
Don’t fall in love with the splashy, hyperbolic names. Fall in love
with solving a problem.”
Developers/programmers
25%
Chief digital officer or equivalent
executive position
Who Supports These Initiatives?
Of course, these projects don’t run themselves. Having the required
talent to execute a data project is key to their success. Zinn says
boards and executives need to make frank assessments of the
18%
institution’s existing team’s skills and figure out how they’ll close
Chief strategy officer or equivalent
executive position
14%
Data scientists
14%
Chief innovation officer or equivalent
executive position
any gaps.
Few community banks report having data personnel on staff,
according to Bank Director’s 2024 Technology Survey. Only 14%
of respondents said they had data scientists and 9% said they had
a chief data officer or an equivalent executive position.
Klemenz at Jovia Financial FCU says that in his experience,
well-structured and supported projects have three layers of people: data architects, data analysts and business analysts. Together,
11%
None of the above
10%
these roles form an inverse pyramid: one architect, a couple of
data analysts and a handful of business analysts.
Data architects design and administer an institution’s data model,
including importing it into the warehouse. They focus on the foun-
Chief data officer or equivalent
executive position
9%
Source: Bank Director’s 2024 Technology
Survey
dation of the data and the warehouse’s performance. Data analysts
are the “data geeks” of a data initiative, he says. These individuals
are familiar with the institution’s data model and know some programming languages, so they can query and extract data and put it
into reports that are handed off to the business analysts. Business
analysts work closely with different business lines to identify potential areas for analysis, answer operational and competitive ques-
14 | FINXTECH INTELLIGENCE REPORT
