Report On The Implementation Of Sec Organizational Reform Recommendations - U.s. Securities And Exchange Comission - 2011 Page 18
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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
Progress to Date: The SEC has communicated the findings of the BCG study to Congress in a
number of ways. In addition to providing the BCG study to Congress, the BCG recommendations
regarding the offices have been cited in testimony by the Chairman. For example, the BCG
recommendations were recently cited by a Congressional committee as a basis for its conclusion
regarding funding for the offices.
Workstream 2D - Review Commission / Staff Interaction processes and Delegation of Authorities
(DOA)
This workstream will assess the Commission / Staff interaction and delegation process. A number
of the SEC’s daily operations and decisions have, over time, been delegated by the Commission to
operating divisions and offices. In areas where the Commission has delegated authority, it may
sometimes lack desired visibility into staff decision making processes and ready means for
exercising oversight. Conversely, there may be areas where the SEC wishes to delegate certain
actions, but has not done so and, as a result, this can affect the SEC’s efficiency and speed of
decision making.
Given this, BCG recommended that the Commission establish and execute a consistent process for
regular review of delegated authorities to clarify which decisions should be delegated to SEC staff
and which should be retained by the Commission, focusing both on areas for further delegation of
authority, and on areas where the Commission should consider reclaiming authority that has been
delegated.
Progress to Date: The work to identify and analyze the potential impact of modifying interaction
and delegation structures has begun. Analysis is underway that should lead to recommendations on
additional delegation, rescissions of delegation, feasibility of additional reporting and process
improvements.
Workstream 2E - Implement a Continuous Cost Improvement Program
As part of the BCG recommendations, the Continuous Cost Improvement Program (CIP)
workstream was formed to enhance the quality and cost effectiveness of the support functions at
SEC. While the overall objective is to institutionalize continuous improvement processes across the
SEC organization, thereby creating greater awareness across the agency about cost saving
approaches and opportunities, there are other goals of this workstream, including:
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