Fourth Report On The Implementation Of Sec Organizational Reform Recommendations - U.s. Securities And Exchange Commission - 2013 Page 20
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SEC O
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R
OURTH
EPORT ON THE
MPLEMENTATION OF
RGANIZATIONAL
EFORM
ECOMMENDATIONS
date, REG has onboarded three staff members, has one offer in process, and is actively
recruiting for additional positions, with the goal of staffing the office with eight risk
specialists and five examiners.
• The Risk Supervised Broker-Dealer Program expanded and refined the Market Report
which summarizes key market risk areas. The Market Report analyzes equity markets,
financial institutions’ stock prices and credit default swaps (CDS) spreads, sovereign
CDS spreads, exchange rates, U.S. Treasury market yields, credit markets, and
commodity markets. The Market Report is used by broker-dealer supervision staff, and
distribution of the report has expanded in Trading and Markets (TM) to help other staff
keep informed of the broad market.
10. Workstream 2B: Conducting a Regional Organizational Assessment (ROA)
In response to a BCG recommendation stating that the SEC should make fundamental decisions
about its organizational design, internal operations and regional model, a ROA working group
was established. The working group included an Enforcement Subcommittee, a National Exam
Program Subcommittee and a Regional Operations Subcommittee. The workstream’s progress
since the last report includes the following:
Enforcement Subcommittee
On October 2012, the Enforcement Subcommittee officially established an internal Advisory
Committee which focused on evaluating and improving specific aspects of ENF operations:
priorities, structure, technology and human capital. The Advisory Committee has created 11
project teams across the four subcommittees to assess and recommend national program process
improvement initiatives. The project teams have started meeting, and are working on establishing
governance around the recommendations and projects that result from these early discussions.
National Exam Program (NEP) Subcommittee
The NEP Subcommittee was established to increase the effectiveness and efficiency of the Exam
Program and to define a clear reporting structure for its national program. The Subcommittee
chose three primary focus areas: resource allocation, risk assessment process, and clarification
of roles and responsibilities between the Home Office and the regions.
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