Fourth Report On The Implementation Of Sec Organizational Reform Recommendations - U.s. Securities And Exchange Commission - 2013 Page 30
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37F
R
I
SEC O
R
R
OURTH
EPORT ON THE
MPLEMENTATION OF
RGANIZATIONAL
EFORM
ECOMMENDATIONS
• Improve controls & efficiency: Develop internal mechanisms to locate cost savings,
enhance operational risk management, gather data, and clarify or streamline business
processes within Division and Offices.
• Enhance the workforce: Identify and improve resources to meet the organization’s
dynamic need for talent.
• Strengthen capabilities: Provide the organization with the tools to execute its core
function of overseeing the markets and market participants.
The accomplishments in the workstreams have resulted in systemic organizational change that
has increased the agency’s efficiency and effectiveness. In a climate of limited resources and
competing priorities, the SEC quickly and efficiently responded to the BCG study and developed
a rigorous program to implement real change for the agency. The SEC was able to develop a
comprehensive approach and translate complex recommendations into action plans.
The
governance structure allowed for transparency both within the agency and to Congress, so that
recommendations were appropriately communicated. While the SEC has made great strides in
building these internal capabilities, the agency also recognizes that meaningful organizational
improvement is a continuous process, and that prolonged effort over several years is required to
successfully operationalize the improvements and realize the benefits of the work completed
during the past two years.
Two-Year Highlights
Optimize the Agency’s Organizational Structure
The SEC restructured the OFM, OAS, and OHR to align the organizations, better define roles,
accountabilities and decision rights, and provide improved services to the program Offices. Part
of the restructuring process included transitioning to external service providers. This included
moving to a FSSP to gain a modernized financial management infrastructure, transitioning to the
procurement and administration of all new leases to GSA to reduce operational risk, and
outsourcing the SEC’s supply management function to provide better management control over
administrative supply expense.
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30
AGE
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