Case Study: Management and cataloging sensitive critical data elements in a Swiss bank

Managing critical data across multiple applications and regulatory requirements is a challenge for any financial institution. For our client, a leading Swiss private bank, ensuring seamless data governance and compliance with FINMA Circular 2023/01 was critical to enhancing operational efficiency and risk management. By partnering with Murdio, they transformed their Collibra implementation, automating governance workflows, improving data quality, and establishing a centralized Data Catalogue that streamlined compliance and data visibility.

The Challenge

Key challenges included:

• Regulatory pressure – The bank had to comply with FINMA Circular 2023/01, which mandated stricter governance and cataloging of sensitive critical data elements (SCDEs).
• Decentralized data management – With over 100 applications in scope (identified as containing SCDEs), the bank lacked a structured way to govern, track, and manage sensitive data.
• Underutilized Collibra implementation – A previously deployed but inactive Collibra instance left the bank unable to leverage its full potential.
• Remote collaboration concerns – Initially, the bank was reluctant to work with a remote technical team, raising security and efficiency concerns.
• Complex stakeholder alignment – Collaboration required synchronization between business stakeholders, IT teams, and regulatory experts.

The Solution

Murdio provided a dedicated Collibra Technical Implementation Team to bridge the gap between business and IT, delivering a fully operational data governance framework.<

1. Establishing a centralized data catalogue
   – Implemented a structured Data Governance Framework tailored to the bank’s needs.
   – Cataloged and classified Sensitive Critical Data Elements (SCDEs) across multiple applications.
   – Integrated Collibra with the bank’s CMDB (Configuration Management Database) to automatically populate metadata and maintain an accurate application inventory.
2. Automating governance workflows
   – Developed custom workflows in Collibra to ensure ongoing data maintenance.
   – Recurring SCDE review process – Automated workflow prompting data owners to validate their data yearly, ensuring accuracy and compliance.
   – Change management workflow – Formalized approval processes for data ownership changes, enhancing accountability.
3. Self-service data management
   – Designed processes to allow users to submit and update SCDEs directly in Collibra, eliminating manual tracking in Excel.
4. Driving Adoption and Training
   – Conducted targeted training sessions for business and IT teams.
   – Developed comprehensive educational materials to drive Collibra adoption.
   – Ensured business stakeholders understood how to use Collibra to enhance operational efficiency.
5. Ensuring Compliance and Risk Mitigation
   – Provided full visibility into data ownership, lineage, and access.
   – Established data lineage tracking to support impact analysis and regulatory reporting.
   – Ensured the bank met FINMA Circular 2023/01 requirements ahead of schedule.

Results

Murdio’s implementation transformed Collibra from an underutilized tool into a critical part of the bank’s operations:

• Regulatory compliance achieved – Full adherence to FINMA Circular 2023/01.
• Centralized data ownership – Clear accountability for Sensitive Critical Data Elements spread across over 100 applications.
• Automated governance processes – Workflows ensure data accuracy and timely updates.
• Scalable data governance model – The bank can expand Collibra’s use to additional business areas.
• Higher adoption rates – Employees actively use Collibra for governance and impact analysis.

Conclusion

This collaboration with a leading Swiss private bank demonstrates how Murdio’s technical expertise and business understanding enable successful Collibra implementation projects. By delivering tailored solutions such as automated workflows, cross-system integrations, and scalable metadata governance, Murdio empowered the client to achieve greater transparency, efficiency, and regulatory compliance.
The partnership not only addressed immediate compliance challenges but also laid the foundation for sustainable data governance improvements. With enhanced technical capabilities, intuitive workflows, and a scalable metadata structure, the bank is now well-positioned to leverage its data as a strategic asset, supporting risk management, operational excellence, and innovation.