EXPERT TALK ON ‘KEY DATA REGULATION’

The session was held on 25th February, Saturday from 11.30 am to 12.30 pm in Seminar Hall, MBA Block, for MSc students in the Department of Data Science at Christ (Deemed to be university), Lavasa. The expert talk was delivered by Mrs. Monica Srinivasan (Executive Director, Data Quality, Standard Chartered Bank, Singapore.)

Ms Divya Ranka welcomed the gathering and introduced the speaker. Mrs. Monica Srinivasan is a Commerce Graduate, Chartered Accountant, and Financial Risk Manager working in the Banking Industry for 20 years. She is specialized in data governance in overseeing data-intensive client data & financial crime projects. She is also the designated subject matter expert on Data quality, owns the DQ Standards, and oversees the Data quality risk for the multinational banking and financial services company that she currently works with. Data is an important asset; no doubt. This session was to talk about how large multi nationals or financial institutions govern data and what are the key data specific regulations to keep in view.

Mrs. Monica began the session by highlighting the explosion of data in recent years and the risks of breaches and security concerns that come with it. She emphasized that the quality of data is crucial for gaining meaningful insights and making informed decisions. She also stressed on the importance of correctly classifying the data and capturing metadata. Misinterpretation and lack of communication were identified as the biggest sources of errors in data collection.

The purpose of the session was to inform the students about the importance of data governance and data quality assurance in today's world, and to engage them in a discussion on the subject. The talk on "Key Data Regulation" covered the importance of data regulation in today's world and how it can impact businesses and individuals. The discussion primarily focused on the key aspects of data regulation and how they can be implemented to ensure compliance with data protection laws.

The session also touched upon the rights of organizations and individuals with their data. How data privacy and security are top concerns in today's world, as well as how important it is for organizations to comply with data protection regulations. She also mentioned that while we can optimize and monetize data in many ways, it is equally important to maintain and use them safely to drive the right outcome for our clients, business, and community. That’s the primary objective of data governance.  The talk emphasized the importance of data regulation, as data is a valuable asset that needs to be protected. With the increasing use of technology, data breaches have become a major concern for businesses and individuals alike. Data regulation can help mitigate these risks and ensure that personal information is not misused. Through the talk, the students got to know about a range of topics related to data governance, data quality assurance, classification of data, metadata, communication, and data security. Students  also learned about how crucial data is for gaining meaningful insights and making informed decisions. These insights and knowledge will be useful in their future endeavours in the field of data science.

The talk ended with an interactive QnA followed by the vote of thanks by Mr Libin Chacko Samuel.