An information asset owner plays a pivotal role in information governance by overseeing the management, protection, and utilisation of specific information assets within an organisation. They are responsible for ensuring that these assets are properly managed throughout their lifecycle.
Contents
What are Information Assets?
An information asset is a body of information, defined and managed as a single unit so it can be understood, shared, protected and exploited efficiently. Information assets have recognisable and manageable value, risk, content and lifecycles. [1]
It is important to be clear what an information asset isn’t: it is not a single piece of data or information but it is a collated body of information under a single heading.
For example: CVs, references, interview records, and copies of identity documents might be collated as an information asset for recruitment. Each individual item, however, is not an information asset in its own right.
Who Are Information Asset Owners?
An Information Asset Owner owns the relevant information asset. While this may seem obvious there are a number of challenges and responsibilities that come with the role. Typically someone fulfils this role as part of or on top of their day job. Nevertheless there is a need to have some knowledge and skills relating to information management and information governance.
Responsibilities of an Information Asset Owner
Information asset owners are custodians of specific information assets. The UK Cabinet Office guidance on the role [2] reads their duties include:
-
fostering a culture that values, protects and uses information to deliver objectives
-
understanding the content of their information assets and how that content changes
-
monitor access to their information assets and who uses the information, and why
-
managing risks to their information asset(s), supporting the Senior Information Risk Owner in their work
-
if they occur support the investigation and resolution of information asset related incident
-
where applicable supporting the sharing of information under Freedom of Information legislation
Other duties include:
Asset Identification and Classification
Identifying and categorising specific information assets under their ownership is a key part of the role. They will then support the classification of information assets based on their sensitivity, criticality, and value to the organisation.
Access Control
One part of managing information assets is defining access rights and permissions for individuals or groups. Information asset owners need to ensure they understand who has access to their information assets and why. They should ensure access rights are removed if people leave the organisation or change roles.
Compliance
Information and their contents must be managed in line with organisational policy and wider statutory or regulatory requirements. For example, information may be needed to comply with a contract. Alternatively it is important to understand which information assets contain personal data for compliance with the GDPR.
Examples of Information Asset Owners
Information asset ownership can vary depending on the nature of the organisation and its structure. Here are some examples of information asset owners in different contexts:
Human Resources Manager
The HR manager may serve as the information asset owner for employee records, including personal information, performance evaluations, and payroll data.
IT Director
The IT director may be the information asset owner for IT infrastructure and systems, including databases, servers, and software applications.
Marketing Manager
The marketing manager may oversee information assets related to customer data, market research, and advertising materials.
Legal Counsel
The legal counsel may serve as the information asset owner for contracts, intellectual property, and legal documents.
Finance Director
The finance director may be responsible for financial records, including budgeting, accounting, and financial reports.
Role of Information Asset Owners in Practice
In practice, information asset owners play a crucial role in implementing information governance principles and ensuring that information assets are managed effectively and responsibly. They work closely with other stakeholders, such as data stewards, IT professionals, and legal advisors, to establish policies, procedures, and controls that protect the confidentiality, integrity, and availability of information assets.
Information asset owners will also support a range of good practice in information governance including:
-
the destruction or archiving of information in information assets once it reaches the end of its useful life
-
ensuring a lack of duplication in information assets – so there is only one up to date version of information available
-
supporting information quality, ensuring that there are no issues with the accuracy or completeness of their information assets
Learn More About Information Governance
Gain the skills and confidence you need to manage information assets and comply with information governance. These five-star rated, expert led courses are perfect for people in the public, private and charity sectors who want to manage information effectively. Available in house, in person or online there is also the perfect learning solution for anyone who wants to explore this topic.
Challenges Faced by Information Asset Owners
Despite their importance, information asset owners may face various challenges in fulfilling their responsibilities, including:
Lack of Resources
Limited resources, including time, budget, and expertise, may hinder information asset owners’ ability to effectively manage and protect information assets.
The Complexity of Information Ecosystem
Managing diverse information assets across multiple systems, platforms, and locations can be complex and challenging.
Changing Regulatory Landscape
Keeping up with evolving laws, regulations, and compliance requirements related to data protection and privacy can pose challenges for information asset owners. This challenge is likely only to increase as artificial intelligence is increasingly deployed in information management.
Security Threats
The increasing sophistication of cybersecurity threats, such as malware, ransomware, and phishing attacks, requires constant vigilance and proactive measures to safeguard information assets. However, information assets can also come in physical form so physical security for e.g. papers records must also be considered,
Subject Matter Expertise
One of the main challenges for Information Asset Owners is familiarity with the content of their information assets. Owning an information asset doesn’t automatically mean people understand the content. Care must be taken to ensure owners of information assets are either familiar with the content of those information assets or that they can call on expertise to help them manage that content.
Conclusion
Information asset owners play a critical role in information governance by overseeing the management, protection, and utilisation of specific information assets within an organisation. By fulfilling their responsibilities effectively, they help mitigate risks, ensure compliance, and optimise the value of information assets in support of organisational goals and objectives.
References
[1] National Archives guidance on information assets
[2] Cabinet Office Guidance in the Information Asset Owner role