CXO Series – A quick Q/A session with Oleg Aspis, MD and Head of Business Data Management at TIAA…
Oleg Aspis is the Managing Director and Head of Business Data Management reporting into Office of the Chief Data Officer (OCDO) in which capacity he ensures a consistent well-managed position on data for the organization. With core objectives to align an enterprise data strategy and business-unit level data plans with the strategy and priorities of the business. By leading the creation of an organizational capability to support the technical and business aspects of our data supply chain to ensure data is treated as an enterprise asset. Additionally driving the synchronization of enterprise data initiatives to ensure value across the corporation. Executing on a common process for sourcing data, organizing data into a ‘data lake’, unifying existing customer assets with a master data management solution, and implementing a metadata repository.
With more than 20 years of experience in financial services industry leading Information Technology teams that help develop solutions for number of businesses across the firm. Including enterprise-wide business analytics, providing operational and strategic decision support to such areas as retail business data management, customer acquisition and retention, product cross-selling, product development, and process optimization. A results oriented leader with solid strategic enterprise data management leadership skills. Regularly interacting with business and IT community at the executive, management and staff levels.
Sajid Khan: Oleg, thank you very much for taking the time out of your busy schedule for this interview. Can you begin by sharing your perspective on the role of Managing Director at TIAA?
Oleg: Sure, I am responsible for unification and optimization of data assets to drive business value to our customers.
SK: In your opinion, what have been some of the biggest challenges faced by financial services firms during the last few years?
Oleg: Regulatory, low interest rate environment, cataclysmic events like Brexit, terrorist, etc
SK: How effective is TIAA in innovating and where do you see your company by the year 2020?
Oleg: Middle of the line, one of our challenges is our culture and pace of execution, we are slow to react to FinTech and Market direction.
SK: What trends do you see ending their life cycle, what are some trends that you see for the future, for your industry?
Oleg: FinTech, Robo Advisor, Digital Experience.
SK: How does your organization mitigate risk due to change in technology/business?
Oleg: Very Reactive, and not very proactive, or ahead of the curb, and we are trying to change the operating model.
SK: What role do you see 3rd party strategic consultants have now, including any current relationships and in the future?
Oleg: Significant in driving new business for retail channels, but you need to treat them and their experience to get repeat business.
SK: What’s been your greatest achievement in your career thus far?
Oleg: Deriving business solutions that enabled the customer base and assets to grow.
SK: What is your leadership style? Does it vary within the role?
Oleg:ENTJ, very direct, don’t beat around the bush. Manage up and down.
SK: What advice would you offer to our readers who aspire to follow in your footsteps?
Oleg:Stay current with the trends and offerings of competitors, and learn from other peoples mistakes.
SK: Is there anything else you would like to share with other fellow C-level executives?
Oleg: There is no Big Data, its all DATA.