Data Management Expert - Master Data Management

Role - Data Management Expert - Master Data Management

Location - Mumbai

Important Requirement - experience in Reference Master/ Master Data Management stream in Indian BFSI space.

Job Purpose

HDFC Bank has huge volume of data, both structured and unstructured, and we are focused on creating assets out of data and deriving best value from the data for the Bank. The Reference & Master Data Management Expert (RMDME) is responsible for ensuring that the Bank has single source of truth of the Master and Reference Data. RMDME will work to identify and prioritize opportunities for creating Reference & Master Data, plan and execute Reference & Master Data Management with various stakeholders within the Bank, who generate, manage and use data. The person will play a critical role in converting Reference & Master Data into an asset which can be used within the organization on demand and requiring no rework for creation and maintenance of multiple same / similar masters across the Bank on a Reference Data Management Tool (RDM Tool).

Job Responsibilities(JR):

1. Assess, design, develop and implement Master Data Management for the Bank

Drive best practice standards for operational Metadata Management, Master Data Management, Reference Data Management and Data Quality capabilities and toolset

Rationalize and Manage Enterprise wide master data for the bank

• Define rules for MDM and functional owner of MDM
• Defines the policy/ process for master updates
• Defines meta data requirements
• Owner of golden record policy etc.
• Defines ingestion policy for CDC/ batch/ streaming
• Manage the master data lifecycle, including creation, updates, deletion, and archiving, ensuring compliance with data privacy regulations and company policies.

2. Development and execution of strategic and tactical roadmaps of Master Data.

Formulate and track Data Quality rules for Master Data Management

3. Create a single source of truth of customer data for the Bank

Collaborate with Sales & Originations, Service Operations (including Channels), Marketing, Compliance, Privacy, Enterprise Data Platform, and Data & Analytics Leadership to continue implementing MDM solutions and revising the MDM roadmap in alignment with the business and data strategy

4. Providing inputs and recommendation on continuous improvement of policies, procedures, processes, standards, and control pertaining to Master Data Management towards Data Governance

Quantify the impact in business value terms (revenue/cost/loss) of the improvement in MDM.

5. Disseminate best practice and ensure standardization of MDM practice across the Bank

Collaborate with IT and business units to design and implement data governance structures, roles, and responsibilities, ensuring clear accountability for data stewardship.

6. Collaborate with senior stakeholders to drive a cultural shift around data and need for Master Data Management within the organization - Drive Data Literacy

7. Building a strong Master Data Management practice for the Bank

All the new projects must be evaluated from the master data lifecycle management point of view (Master Data by Design) and also for impact on Reports, Interface, Conversion, Enhancements, Workflow

Educational Qualifications

Masters in Engineering/Technology, Business Administration, Economics, Statistics, etc.

Experience Required

• 6 years to 10 years of total work experience
• 5+ years of experience in Banking and Financial services
• At least 6 yrs experience in Master Data Management
• Experience of working in large, multi-functional, matrix organization
• Strong technical & functional understanding of Master Data Management that includes End to end MDM Hub Configuration, Base Objects, Staging, Mapping, Cleanse Function, Match Rules, Validation, Trust Scores
• Experience with industry-leading master data/metadata/data quality suites, such as Informatica MDM, Informatica Data Quality
• Exposure of working in Cloud environment will be an added advantage

Key Skills

• Drive for results and tangible outcomes
• Hands on technical & functional experience of implementing MDM and maintaining master reference data
• Expert at handling databases and queries (SQL/ Python etc.)
• Collaboration
• Operations management
• Good oral and written communication skills
• Team management
• Knowledge of Data Management and Data Governance concepts Metadata, lineage, data quality, etc.