Data Governance in Financial Services: Managing Personal Data Risk in Practice

Introduction

Financial services firms hold vast amounts of personal data and are using it in more ways than ever - from credit and affordability decisions and fraud detection to personalised marketing and AI-driven tools. Regulators expect firms to show not just that they comply, but that they have clear ownership, controls and evidence in place.

The Data (Use and Access) Act 2025 is reshaping key parts of UK data protection law, the ICO continues to take enforcement action and the FCA’s focus on the Consumer Duty, operational resilience and the use of AI means that weak data governance is increasingly a conduct and prudential issue as well as a privacy one.

This practical session looks at how firms can build and evidence a data governance framework with privacy at its core. It will cover common pitfalls, recent regulatory developments and practical tools and tips that delegates can take back to their organisations and put to use straight away.

What You Will Learn

This live and interactive session will cover the following:

• How to use UK GDPR accountability as the backbone of your data governance framework - clarifying roles and ownership across the DPO, the business and SM&CR senior managers, and keeping records of processing and policies that work in practice
• Choosing and documenting a lawful basis, and delivering meaningful transparency, for common financial services activities such as profiling, credit and affordability decisions, fraud prevention and marketing
• The key changes introduced by the Data (Use and Access) Act 2025 and what they mean for your firm, including automated decision-making, legitimate interests and data subject access requests
• Running effective DPIAs and embedding privacy by design when launching new products, systems and AI tools
• Managing international data transfers and third-party and outsourcing risk, including due diligence and contractual safeguards
• Governing data retention, data quality and personal data breaches - including escalation, decision-making and reporting
• How data governance supports FCA expectations on the Consumer Duty, operational resilience and the use of AI
• Practical tips on reporting to boards and senior management, plus lessons from recent ICO and FCA enforcement

Recording of live sessions: Soon after the Learn Live session has taken place you will be able to go back and access the recording - should you wish to revisit the material discussed.