At least 70% of organizations have a digital transformation strategy or are working on one. So there’s a need for IT asset management in virtually all business entities.
The director of digital asset management builds and governs asset management teams and programs. They create strategies to stay ahead of the competition and monitor a product’s key performance indicators.
The director is responsible for the digital/media assets in an organization. While they oversee the company’s digital assets, they could also be in charge of other clients’ asset portfolios.
This article tells you all you need to know about being a director of digital asset management.
Keep reading to find out all there is to know, from responsibilities to salaries.
Let’s dive in!
Who is a director of digital asset management?
A director of digital asset management oversees how a company organizes and accesses digital assets, mostly using a Digital Asset Management (DAM) system. They grow and lead digital asset management teams.
Digital assets are content stored in digital form like documents, videos, audio, images, logos, slide presentations, websites, mobile apps, etc.
In some organizations, the digital asset management director governs other clients’ digital asset portfolios. The director studies and responds to market trends and communicates with the clients on the changes that affect their investment portfolios. They then facilitate implementing the next steps.
OTHER TITLES FOR DIRECTOR OF DIGITAL ASSET MANAGEMENT
The director of digital asset management is most commonly also known as the digital asset management director, more of a rephrase of the title.
Other titles include:
- Director – Digital Product Management
- Director Product Management – Digital Assets
- Digital Director
- Director Project Management (Digital)
WHO NEEDS A DIRECTOR OF DIGITAL ASSET MANAGEMENT?
Every tech-oriented company needs a director of digital asset management. But companies in banking, finance, insurance, product, and investment firms need these experts the most.
What does a director of digital asset management do?
The director of digital asset management governs the company’s digital asset portfolios. They work with the organization’s leadership team to optimize the portfolios for the maximum possible return.
The general roles of the director of digital asset management are:
- Owns the digital asset management (DAM), defines the product strategy (roadmap, functionality, and services), and leads product releases
- Works with the senior leadership team for management and content strategy
- Builds & leads the DAM team
- Owns and governs the enterprise taxonomy
- Improve IT systems and data assets key performance indicators (KPIs)
- Develop and monitor product KPIs
- Support product teams
The responsibilities vary depending on the organization. If the director is responsible for the clients’ digital assets portfolios, their responsibilities could be:
- Managing multiple client accounts and maintaining effective communication with the stakeholders.
- Regularly researching the market trends and changes that may impact managed assets.
- Analyzing impact analysis reports and delivering them to key stakeholders and clients.
- Communicating any needed account changes with clients on time.
- Analyzing portfolio changes and identifying any irregularities that may negatively impact the clients’ asset accounts.
- Making necessary changes to the client accounts.
- Organizing and leading meetings with key stakeholders to review accounts.
DIRECTOR OF DIGITAL ASSET MANAGEMENT JOB DESCRIPTION
The director of digital asset management requires a Bachelor’s degree in finance, business, technology, or related fields. Some organizations require a Master’s degree in Business Management as an entry qualification. Some need a degree in Certified Public Accounts.
The typical qualifications for the director of digital asset management are:
- Master’s degree in Business Administration. (preferable)
- 0-5 years of experience for entry-level positions.
- 5 or more years of experience in specialized industries.
- Capability to handle multiple clients accounts while working under pressure.
- Experience in business intelligence software like Microsoft Power BI or Tableau.
- Experience using Digital Asset Management software
- Experience in people management
- Superior verbal communication and writing skills, and capable of liaising with multiple levels within an organization
This role is ideal for self-motivated individuals with effective communication skills, who can quickly solve problems.
What skills does a director of digital asset management need?
When working as a director of digital asset management, the most common skills you’ll need for career success are:
- Entrepreneurial skills
- Project management
- Asset management
- Product management
- Adobe Creative Cloud
- Team leadership
- Microsoft Office Suite
Check out Lisa Grimm’s LinkedIn profile. She was Novartis’ global director of digital asset management for over 2 years. Before she took the role, she served other roles like operations manager, content librarian, director of web design and development, archivist, content manager, product manager, etc. She has also volunteered as a DAM Board Member and in the DAM Guru Program.
Besides taking up related roles and certificates, you can keep up with digital asset management best practices on DAM News.
How much does a director of digital asset management make?
According to Glassdoor, a director of digital asset management earns an average of $136,186 per year as base salary and $19,237 per year as additional pay. Additional pay could include cash bonuses, commissions, tips, and profit-sharing. The salary increases as you advance in the managerial role. It can result from increased experience in the field and education.
Nonetheless, a director of digital asset management could make anywhere between $114k per year to $228k depending on their skills and the company.
For example, this Mastercard position for Director Product Management – Digital Assets could pay an estimated $162,905 base salary. But the CapGemini Digital Asset Management Director role promises about $115,892 yearly base salary.
The director of digital asset management role is skill-intensive and labor-intensive. After getting a Bachelor’s degree in finance, business, or business-related fields, you’ll need a postgraduate degree and some years of experience in technical and leadership skills.
In addition, being a director of digital asset management requires you to be well-versed with digital transformation to keep up with the trends and best practices in the industry.
So check out our digital transformation resources right here. We have comprehensive information from valuable tools and techniques to career advice.