Are you hiring a CIGO in 2017?
Information is a business asset that is important across all functions of an enterprise.
A Chief Information Governance Officer (CIGO) is a senior executive who oversees gaining value and reducing risks of enterprise information - a leader who can own enterprise information, coordinate information-related functions, and balance and prioritize the costs and value of information.
A CIGO is really important!
The CIGO role can be established as part of another C-level suite individual so long as these three gaps are filled by a senior executive with the proper experience and influence who is willing to take on the responsibilities of information leadership, coordination of information amongst key stakeholders, and decision-making based on an understanding of both the risk and value of information.
What makes hiring a CIGO in 2017 a good idea?
- The CIGO has the authority and mandate to lead information related activities. This includes the development, implementation, facilitation, and improvement of the information governance program and advocating for information needs on behalf of all relevant stakeholders.
- The CIGO is the person who ensures the facets of information governance across an enterprise are working together to achieve the common goal of gaining value from information while also balancing risk. If these information governance facets are not working together it can lead to a data bloat, compliance risks, and a silo mentality where a lack of sharing and cooperation leads to expensive operational inefficiencies.
- The CIGO is accountable for the policies and procedures of how the organization creates, uses, stores, identifies, classifies, maintains, secures, releases, acquires, preserves, retains, and disposes structured and unstructured information. The CIGO also leads and oversees programs that support information governance efforts.
- As the leader for information across an enterprise the CIGO defines standards for the access of business information by third parties. This includes developing processes to define scope of access and review/approve contract and policy language regarding information access.
Cybersecurity risks are now a strategic business issue and therefore require oversight so that high stakes business decisions can be made correctly and confidently.
According to the Washington Post, a study Data Theft by Employees Affects 69% of Businesses of 208 organizations revealed 69 percent experienced an attempted or realized data theft or corruption by corporate insiders over the past 12 months - compared to 57 percent that experienced similar risks from external sources.
A strong information governance framework with well-defined roles and responsibilities is an essential practice for an enterprise. One way to get that framework set for success is to make sure a CIGO is leading the charge.