Overview
The Data Foundation’s 2022 Financial Data Transparency Forum provided an opportunity for stakeholders representing financial institutions, the data community, and academia to offer actionable and practical feedback on how to improve data management strategies across federal financial regulatory and oversight agencies. The forum was designed using a stakeholder feedback model that supported the creation of the Federal Data Strategy and the accompanying Action Plans for 2020 and 2021. The Open Data Standards Task Force co-hosted the public forum with the support of the Data Foundation.
The following themes and recommendations emerged during the forum as stakeholders considered how to best improve data quality and use, literacy, and transparency in partnership with financial regulatory agencies:
Establish a shared understanding of data definitions, common data standards, and formats
Empower staff to make data-informed decisions by investing in agency-wide data literacy
Identify and prioritize data management best practices
Approach data demands with existing and emerging technologies
Commit to transparency and good governance
The forum featured 17 speakers who offered insights and recommendations about how to improve data governance and use.