Report On The Implementation Of Sec Organizational Reform Recommendations - U.s. Securities And Exchange Comission - 2011 Page 2
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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
Table of Contents
1.0
Executive Summary ...................................................................................................................................... 3
2.0
Introduction ................................................................................................................................................... 4
The Role of the SEC ....................................................................................................................................... 4
The Boston Consulting Group’s Assessment of SEC Organization and Operations ...................................... 5
3.0
Challenges ...................................................................................................................................................... 6
4.0
Key Accomplishments since the BCG Study Release ................................................................................ 8
Designated the Office of the Chief Operating Officer as the BCG Study Executive Sponsor ........................ 8
Established Workstreams and Named Workstream Leads to Drive the Recommendations.......................... 8
Established Program Management and Governance ..................................................................................... 9
Created a MAP Roadmap ............................................................................................................................. 11
5.0
Workstream Definitions and Progress to Date ......................................................................................... 12
Workstream 1A / B – Reprioritize Regulatory Activities ................................................................................ 12
Workstream 2A – Reshape the Organization ............................................................................................... 13
Workstream 2A – 1 – Office of Administrative Services Organizational Assessment .................................. 13
Workstream 2A – 2 – Office of Financial Management Organizational Assessment ................................... 14
Workstream 2A – 3 – Office of the Chief Data Officer Organizational Stand-Up ......................................... 15
Workstream 2B - Conduct a Regional Organizational Assessment ............................................................. 16
Workstream 2C - Seek Congressional flexibility for offices mandated by the Dodd-Frank Act .................... 17
Workstream 2D - Review Commission / Staff Interaction processes and Delegation of Authorities
(DOA) ............................................................................................................................................................ 18
Workstream 2E - Implement a Continuous Cost Improvement Program ...................................................... 18
Workstream 3A - Transform the Office of Information Technology and Enhance Technology
Capabilities (includes workstream 5G: Improve Technology-Delivery) ........................................................ 19
Workstream 3C - Create a Technology Center of Excellence ...................................................................... 20
Workstream 3D - Restructure the Office of Human Resources .................................................................... 20
Workstream 3E - Accelerate roll out of the SEC’s Evidence-Based Performance Management System .... 21
Workstream 3F - Create a Surge Capacity Plan ........................................................................................... 22
Workstream 3G - Enhance Risk Management Capabilities in Line and Support Organizations .................. 22
Workstream 3H - Fill Vacancies with Employees who meet High Priority Skill Needs ................................. 23
Workstream 4 Enhance SRO Engagement Model (Workstream 4A - Strengthen Oversight of SROs;
4B - Centralize and Coordinate approach to SRO Interaction; Workstream 4C - Strengthen / Clarify
processes for SRO Rule Proposals; 5A Conduct Outcome-Oriented Performance Measures) ................... 23
Workstream 5A - Conduct Outcome-Oriented Performance Measures Feasibility Study ............................ 24
6.0
Conclusion ................................................................................................................................................... 25
P
2
AGE
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