Fourth Report On The Implementation Of Sec Organizational Reform Recommendations - U.s. Securities And Exchange Commission - 2013 Page 10
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37F
R
I
SEC O
R
R
OURTH
EPORT ON THE
MPLEMENTATION OF
RGANIZATIONAL
EFORM
ECOMMENDATIONS
• Developing a comprehensive training program designed to address staff knowledge gaps
identified from operational metrics and performance monitoring.
Disgorgements and Penalties (D&P)
OFM continues to partner with the Division of Enforcement (ENF) on initiatives to enhance the
processes for collection and distribution of disgorgements and penalties resulting from SEC
enforcement actions. As described in the Third Report to Congress, the Office of Collections
(OC) and Office of Distributions (OD) were created to handle all collection and distribution
functions for the agency. OFM has made significant progress in implementing the following
D&P improvements:
• Continued maturation of the new organizational environment: OC and OD are both fully
established and operational, and the processes through which they interact with OFM
have been defined in detailed process manuals.
OFM has continued to refine its
processes and continues to work closely with OC and OD to develop Service Level
Agreements (SLAs) that will guide and structure important inter-organization
interactions.
• Refinement of D&P-specific mission statements and performance metrics: D&P specific
mission statements were refined for OFM, OC, and OD. These mission statements have
been paired with supporting performance metrics that will track the efficiency and
effectiveness of the three organizations in performing their core mission functions.
• Development of new technology enhancements: With the transition to the FSSP, OFM
fully migrated to Delphi, a financial system used and maintained by Department of
Transportation (DOT) Enterprise Service Center. In response to feedback gathered from
staff, OFM continues to train its staff and the staffs of OC and OD on use of Delphi.
OFM also is tracking non-SEC payables in Delphi to centralize financial data. Additional
planned technology enhancements (e.g., the HUB 2.0 upgrade, the acquisition of an
interest calculator, and the deployment of ImageNow 2.0) will provide an even smoother
interaction between OFM, OC, and OD, making financial management processes even
more secure and reliable.
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