Chief Architect & Chief Data Officer at CIT Group Wins Overall Information Technology Leader Award from Ventana Research
Congratulations to BJ Fesq, Chief Architect & Chief Data Officer at CIT Group, who received the 2015 Overall Information Technology Leader Award from Ventana Research. This award recognized BJ for his work to enhance CIT Group’s data management to comply with new regulatory requirements.
With their latest acquisition, CIT Group has crossed over the $50B asset threshold, making it the first bank in U.S. history to voluntarily become a Systematically Important Financial Institution (SIFI). CIT Group is now “too big to fail.”
CIT Group’s business is complex. They lend money to companies and lease everything from photocopiers to aircraft. They have multiple products and diverse lines of business. And, they needed to quickly adapt to meet strict regulatory requirements.
BJ Fesq led the initiative to transform CIT Group’s enterprise data platform. He knew that quality data was the key to enabling their transformation. They also needed a complete understanding of data lineage from source to destination for all intercompany data exchanges. And, they needed to automate the previously manual, time consuming and error prone process of creating reports for regulatory compliance.
Using Informatica MDM, CIT Group now strategically manages and shares clean, consistent and connected customer data across the enterprise, without having to retrofit every system. MDM is the foundation for aggregating and rolling up legal entities, tracking data lineage, and ensuring accurate data to analyze credit exposure by category such as industry, product code and region.
Now, with a holistic understanding of customers, CIT Group can:
- accurately aggregate counterparty credit for regulatory compliance,
- quickly assess customer-level exposures, particularly in times of crisis,
- prevent fraud,
- streamline client onboarding,
- boost cross-sell and up-sell success,
- cut costs by sending invoices to validated addresses, and taxing the right geographies and industries, and
- improve risk management.
BJ Fesq’s 4 Keys to Success
BJ attributes the following four factors to his success:
- bridging organizational boundaries,
- cultivating strong relationships with the business,
- prioritizing initiatives that deliver a return on investment, accelerate time-to-market, and enable business agility, and
- measuring and communicating the business value, technical quality, and total cost of CIT Group’s portfolio of applications and technology platforms.
About BJ Fesq, Chief Enterprise Architect and Chief Data Officer at CIT Group
BJ Fesq is responsible for CIT Group’s technology strategy, enterprise architecture, and data management practices. BJ is currently leading strategic efforts to modernize the company’s technology platform through the use of innovative capabilities, including data virtualization, master data management (MDM), mobile apps and devices, scrum, ALM, and data center automation.
BJ has worked at several of the world’s largest financial services institutions. Most recently he was the Chief Architect and one of the first Technology Fellows at Bank of America Merrill Lynch, where he was responsible for grid computing and mobile strategy for the enterprise.
About the Ventana Research Business Technology Leadership Awards
The annual Ventana Research Business Technology Leadership Awards recognize noteworthy individuals and organizations that have advanced business leadership by effectively utilizing their people, processes, information, and technology to achieve the best outcomes. This distinguished award honors an individual or a team that has used technology in an exemplary fashion to support business led initiatives.
Meet BJ Fesq at the MDM 360 Summit in New York & Informatica World in San Francisco
BJ Fesq will be participating in a panel discussion at our upcoming MDM 360 Summit in New York on February 24, 2016.
The keynote speaker is industry luminary Michele Goetz, Principal Analyst, Enterprise Architecture, Forrester Research. Confirmed speakers include:
- Hamilton Faris, Chief Data & Analytics Officer, MetLife
- Raman Murali, Vice President of Enterprise Analytics, The Chubb Corporation
- John Bassani, Senior Director, Ethics & Compliance Group, PricewaterhouseCoopers (PwC)
- Claude Edkins, Senior Vice President & CIO, Leukemia & Lymphoma Society
- Terri Mikol, Director, Data Governance Office, UPMC
- Nicolas Lance, VP, Retirement Income Strategies, OneAmerica Companies
- Anil Chakravarthy, CEO, Informatica
- Rob Karel, Vice President, Product Strategy & Product Marketing, Informatica
- Ron Matusof, Vice President, MDM Advanced Customer Engineering, Informatica
BJ will also be speaking at Informatica World in May 2016. Come join us and meet him in-person!