Report On The Implementation Of Sec Organizational Reform Recommendations - U.s. Securities And Exchange Comission - 2011 Page 14
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25U.S. S
E
C
– M
A
P
(MAP)
ECURITIES AND
XCHANGE
OMMISSION
ISSION
DVANCEMENT
ROGRAM
R
I
SEC O
R
R
EPORT ON THE
MPLEMENTATION OF
RGANIZATIONAL
EFORM
ECOMMENDATIONS
and processes / procedures to improve internal controls and meet organizational requirements in
support of mission and customer requirements. The assessment is on-going, but will eventually
provide a detailed summary of OAS’s organizational structure, workforce, talent management,
policies, procedures and governance, business processes, internal controls, and will result in the
development of recommendations for improved operations, as well as a corrective action plan.
Progress to Date: The workstream has convened a working group of senior executives and
managers within OAS, and the OCOO with coordination with the OFM and the OHR. The working
group has developed a systematic approach to conducting the organizational assessment to include
defining core acquisition and leasing processes, policies, staffing and skills analysis. The working
group identified best practices across industry, including General Services Administration (GSA)
practices in leasing and acquisition, and has begun to assess the impact of the upcoming transition
of leasing activity to GSA. The group is in the process of developing a real property governance
framework to ensure accuracy in scope and scale of all real property requirements (new space, lease
renewals, space reconfigurations, etc.,) and to include approvals from appropriate SEC stakeholders
depending on pre-defined thresholds. A review of all background policies and procedures for OAS
functions, Management Assurance Process planning, and development of internal controls for all
OAS functions has commenced.
The intended outcome of these initial efforts is to improve the governance model for real property
and to assess the impact of and facilitate the upcoming transition of leasing activity to GSA. These
efforts will also assess and improve internal controls in all OAS core processes. The overall
assessment is expected to be completed in November 2011.
Workstream 2A – 2 – Office of Financial Management Organizational Assessment
This workstream is conducting an organizational assessment to enable more efficient and effective
delivery of OFM’s financial management and budget functions to headquarters and all regional
offices. Reshaping the OFM is vital to ensuring that the SEC is properly allocating its resources and
operating under the umbrella of effective internal controls and that its policies and procedures
reflect an adequate control environment. OFM is focused on migration to a new financial
management system that will be hosted, operated, and maintained by the Department of
Transportation’s Enterprise Service Center (ESC) Federal Shared Service Provider (FSSP). As a
result of this change, OFM is performing an organizational assessment prior to transitioning to the
P
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