Data play a critical role in fulfilling the Federal Reserve Board’s mission across a broad range of functions, including monetary policy, financial stability, supervision, consumer protection, and economic research. The current data environment was designed to allow business lines to manage relatively small and predictable data sets that required limited sharing across silos. The Office of the Chief Data Officer was created in May 2013 to address the data needs of the Board, post-financial crisis, with an enterprise focus and a clear set of mandates to enhance data governance, data management, and data integration. The OCDO started operations with a small staff of data management professionals who traditionally supported the research function and now must shift gears to provide data services to a broader base of users and a wider range of analytical work. New infrastructures, programs, processes and staffing are being developed and deployed to ensure that data needs across the lifecycle are met and that a variety of analytical approaches can be supported.

View the presentation, Moving beyond research: building an enterprise data service from a research foundation