The Australian Securities and Investments Commission has today launched its data strategy for 2017-20.
The strategy, which outlines how ASIC will capture, share and use data, will transition ASIC into a more data-driven and intelligence-led organisation.
ASIC's data strategy outlines a number of data initiatives that have been completed or will be put in place over the next three years, including:
creating a Chief Data Office
establishing a number of frameworks and bodies aimed at strengthening data governance
ensuring cyber resilience and privacy protection
establishing a data science laboratory, and
engaging nationally and internationally to improve data management and analytics capabilities.
In launching the strategy, ASIC Chairman Greg Medcraft said that good quality, well-governed data was a key foundation for good regulatory decision making.
'Our data strategy outlines how ASIC will improve the way we capture, share and use data. The intelligence and insights we derive from analysing our data will give us a better understanding of the regulatory environment, so that we can detect, understand, respond appropriately and ultimately, contribute to the financial well-being of all Australians.'
The strategy is part of the 'One ASIC' approach, which is aimed at utilising data to connect the dots to achieve better regulatory outcomes through people, processes, technology and culture and governance.