VIDEO | TD Bank Head of Enterprise Data Management: The More Data You Have, the Harder it Is to Manage

(US and Canada) Wes Anderson, Vice President and Head of Enterprise Data Management at TD Bank, speaks with Jeffrey Dobin, Head of Sales at Duality Technologies, in a video interview about his role and responsibilities at the bank and the impact of compliance on how financial institutions derive value from data.

Like a Chief Data Officer, Anderson's role as the Head of Enterprise Data Management varies from company to company. It includes various data management capabilities such as data cataloging, quality, retention and disposition, access, protection and privacy, technical capabilities, and data governance. He says that all these are foundational priorities for TD Bank.

Anderson elaborates that the growth of data has been astronomical over the last couple of decades and such a scale of data makes it harder to manage. The organization is constantly looking at ways to organize the data better, simplify the data flow, build reusable data assets, get insights faster, and ensure the required capabilities, as that data continues to grow.

When asked how compliance and governance restrict financial institutions from deriving value from their data, Anderson says that what is possible with data depends on the jurisdiction a company operates in. He shares the example of Canada where using that customer data for a secondary purpose requires additional permission from the customer. The alternative way is to de-identify the data and use it without tying it back to an individual customer.

CDO Magazine appreciates Wes Anderson for sharing his insights and data success stories with our global community.