VIDEO | Bank of Canada Corporate Services and Data MD: Culture Shift Must Be Practical and Relevant

(US and Canada) Julie Champagne, Managing Director of Corporate Services and Data at Bank of Canada, speaks with Robert Lutton, Sandhill Consultants Vice President, in a video interview about enabling a data-driven culture and enterprise risk management.

Sharing her approach to enabling a data-driven culture at the bank, Champagne highlights two areas:

Digital and data-driven organizations can mean a lot of things to different people. So, it is helpful to have a clear strategy and tie it into the North Star. People can rally around it, and showcasing successes can help maintain the momentum.

A cultural shift must be practical and relevant to the right people. Being fit for purpose is essential, and everyone must be on that journey.

Next, she discusses risk management at the Bank of Canada. Champagne says that data Is at the heart of risk management, and the data team works with the financial enterprise risk team to identify and mitigate a wide variety of risks, such as strategic, financial, or climate change. She adds that having the correct data is essential to support identification, assessment, and monitoring.

Champagne elaborates that being a risk owner gives her more significant insights for enabling the organization’s digitalization project, leveraging risk information across the bank. She reveals that the bank is looking to apply AI/ML to bring new insights and further understand cyber-related risks. She says her team is gathering data about climate-related risks to inform multiple areas regarding climate change.

CDO Magazine appreciates Julie Champagne for sharing her insights and data success stories with our global community.

See more from Julie Champagne

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