Fourth Report On The Implementation Of Sec Organizational Reform Recommendations - U.s. Securities And Exchange Commission - 2013 Page 34
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37F
R
I
SEC O
R
R
OURTH
EPORT ON THE
MPLEMENTATION OF
RGANIZATIONAL
EFORM
ECOMMENDATIONS
hedge fund advisers worthy of further review by either OCIE or Enforcement’s Asset
Management Unit. OIT developed automated solutions to analyze information obtained from the
Electronic Blue Sheets Platform (equity trade data from clearing brokers). The SEC also
invested in modernizing its overall IT systems, which included a centralized system for tips and
complaints, enforcement and examination management systems, and risk analysis tools. To
further improve core operations and implement the agency’s new responsibilities, the SEC
embarked on a multi-year Technology Transformation Plan called “Working Smarter” to: (1)
ensure the SEC’s business processes are streamlined, integrated, and implemented with the best
technology; (2) reduce costs and increase efficiencies and effectiveness; (3) deliver better
services to both employees and the public; and (4) provide greater accountability, transparency,
and security. Some of the key results included the procurement and installation of an Enterprise
Data Warehouse, modernization of SEC.gov, and enhancements of the EDGAR filer system to
increase, enhance, and optimize the quality of data and information received by internal and
external users.
Conclusion
The BCG report provided the SEC with an opportunity to assess and implement improvements to
the agency’s core infrastructure through redesigning its organizations, enhancing risk
management capabilities and internal controls, strengthening the agency’s workforce, updating
processes to improve customer service, improving the management of resources, and building
valuable technology capabilities. SEC staff believes it has responded appropriately to these
recommendations.
The agency has transitioned into an organization that applies the principles of continuous
improvement, collaboration, and coordination in executing its mission across all of its Divisions
and Offices. While this is the last of the statutorily mandated reports, the SEC will continue to
seek improvements by implementing and operationalizing the spirit of recommendations
stemming from the BCG study.
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