In today’s fast-evolving digital landscape, data is more than a valuable asset - it’s the foundation of innovation, decision-making, and trust. At Symcor, the Data & Trust Office plays a vital role in ensuring that data is not only managed effectively but also leveraged responsibly to drive business outcomes while maintaining the trust of clients and stakeholders.

In this insightful Q&A, Robin Sooklal, Vice President, Privacy and Data Governance at Symcor, delves into the team’s mission, the interconnected pillars of governance, and the forward-thinking strategies that shape Symcor’s data practices. 

Q1. Can you share an overview of the Data & Trust Office and its role within Symcor?

Robin: Symcor’s Data & Trust Office is dedicated to data enablement and ensuring we continue to uphold the trust of our clients and internal stakeholders in our program governance, data practices, and in the quality of data we use to inform our products and services. Our Office is driven by a purpose to foster enterprise-wide innovation through sustainable data strategies and enable stakeholders to achieve their stated business outcomes. 

The Data & Trust Office is founded on seven primary pillars, consisting of Privacy, Data Governance, AI Governance, Data Acquisition, CASL compliance and Records Management, and Enterprise Data Strategy. Collectively, these functions enable teams within Symcor to rapidly develop and execute products and services using data while ensuring they meet contractual requirements and regulatory obligations. 

Q2. With those seven pillars under the Data & Trust Office, how do these functions interconnect to create a cohesive strategy for managing data?

Robin: Together, these pillars establish robust governance to effectively manage all aspects of data entering or created within Symcor, ensuring, with support from other internal stakeholders, that the necessary controls are in place to uphold our commitments and meet regulatory requirements for data management. Additionally, these pillars offer valuable insights into the organization’s data landscape, defining clear parameters for its collection, use and disclosure to maximize organizational benefits and align with specific use cases. 

Q3. Can you elaborate on the significance of AI Governance, particularly as AI technologies rapidly evolve?

Robin: AI Governance is a new pillar that is being stood up under the Data & Trust Office. It is of critical importance as AI evolves and is steadily becoming a core feature within product offerings. As such, there is a critical need to ensure that such technological capabilities are governed and safely developed and put into operation to limit risk to both Symcor and its clients if not implemented correctly. 

AI Governance looks to promote the principles of accountability, safety, fairness and equity, human oversight and monitoring, validity, robustness and transparency. It is critical that these principles are embedded within Symcor. 

Q4. Trust is a key theme in the Data & Trust Office's work. How do you cultivate a culture of trust in Symcor’s data practices both internally and with clients?

Robin: Trust lies at the heart of who we are and everything we do. At Symcor, we foster a culture of trust by aligning our data practices with leading industry standards, demonstrating compliance with contractual and regulatory obligations, and maintaining a forward-thinking approach. This is achieved by enabling and collaborating with our product teams, ensuring they have access to the necessary data while identifying alternative solutions to overcome obstacles. Throughout this process, we implement rigorous controls to uphold integrity and accountability across the lifecycle of every initiative. 

This approach reinforces trust with our clients, ensuring they receive solutions that deliver on capability, quality and regulatory rigour while safeguarding their end customers. It is through this commitment that Symcor has earned its reputation as a trusted third-party vendor to some of Canada’s largest, most sophisticated, and highly regulated organizations.

Q5. What trends or challenges in data and trust do you foresee, and how is Symcor preparing for them?

Robin: There is an evolving regulatory landscape arising in Canada that can be seen in the space of privacy and artificial intelligence. 

In addition, as most of us have seen, there is a growing appetite for AI and advanced analytics in the financial space to be leveraged for areas such as fraud detection, personalized services, and operational efficiencies. These activities raise concerns about algorithmic bias, data usage transparency, and ethical AI implementation.  

Lastly, there is and will continue to be increasing demand for data monetization and personalization, using customer data for tailored product offerings, which must be balanced with consumer trust and transparent consent. 

To meet these demands and ensure our products are privacy proficient, Symcor continues to invest in our data governance program to be able to stand up new capabilities that would serve as the foundation for all analytics and AI solutions. This includes activities such as data cataloguing, data classification, meta/master data management, data access management and data quality management. 

Data is the lifeblood of modern organizations. It drives decision-making, fuels innovation, and creates a competitive advantage. Prioritizing Data and Trust is not just about compliance - it’s about unlocking the full potential of our business and transforming raw information into actionable insights, enabling smarter strategies and sustainable growth.

From business transformation to digital innovation, Symcor has the expertise and technology solutions to help clients thrive at every stage of their business evolution. To learn more about how Symcor can support your organization,  contact us.