A dynamically reconfigurable computational storage drive (CSD) that facilitates parallel data management functionality for a plurality of associated memory devices. The CSD includes an FPGA device that is dynamically reconfigurable during operation of the CSD to provide one or more data management functionality. The CSD interfaces with a plurality of storage controllers for parallel data management functionality applied to a corresponding plurality of memory devices. The CSD may be provided as a rack-mounted device or a storage appliance for dynamic provision of data management functionality to data in a storage system comprising the CSD.