Report On The Implementation Of Sec Organizational Reform Recommendations - U.s. Securities And Exchange Comission - 2011 Page 19
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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
• To better understand SEC’s organizational spending in terms of actual cost of products
and services
• To identify and isolate areas of organizational spending that can be reduced or re-
purposed to free up additional funds in support of mission-critical activity
• To identify areas which are not core competencies of the SEC and leverage alternative
sources for these services which are more cost effective
Progress to Date: To date, the cross-functional working group consisting of members from across
the Divisions, Offices, Support Operations, and Regions, has convened to gather and identify new
savings ideas. The working group has begun to review and analyze cost savings opportunities
across the SEC, identifying four levels of savings opportunities - quick-hits, short, medium and
long-term savings. A small set of quick hits have been identified, with short, medium and long term
opportunities being identified in the Fall timeframe, and with implementation to commence upon
approval of the recommendations. The working group envisions developing an on-going, repeatable
process for CIP after the initial savings opportunities (quick hits, short, medium and long-term)
have been identified, approved and implementation has begun.
Workstream 3A - Transform the Office of Information Technology and Enhance Technology
Capabilities (includes workstream 5G: Improve Technology-Delivery)
While the BCG study noted the agency’s “promising” momentum with regard to technological
sophistication, it also recommended that SEC devote attention to the development of a technology
strategy that understands the technology needs of SEC, and provides the staff with the technology it
requires to perform most effectively. The two main objectives are to improve the Information
Technology (IT) offerings from the Office of Information Technology (OIT) and improve the
effectiveness of OIT organization.
Progress to Date: The OIT redesign is well underway and is in the process of phasing in
infrastructure and operations to support the future mission of the SEC. A reorganization of the OIT
organization began in January, 2011 and was completed in June, 2011. The reorganization is
designed to strengthen communication and collaboration between OIT and other SEC Divisions. A
Project Management Center of Excellence was created with significant focus placed on IT Best
Practices. Automated and comprehensive metrics collection was introduced to improve the
efficiency and management oversight of our operations staff and contractors. Analysis and revision
P
19
AGE
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