Report On The Implementation Of Sec Organizational Reform Recommendations - U.s. Securities And Exchange Comission - 2011 Page 8
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ECURITIES AND
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OMMISSION
ISSION
DVANCEMENT
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EPORT ON THE
MPLEMENTATION OF
RGANIZATIONAL
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ECOMMENDATIONS
communicate with, and give consideration to the views of key stakeholders. Finally, the agency is
assessing how best to make use of management and staff time and to determine what pace of
change the agency as a whole, or any particular office, can successfully absorb.
4.0
Key Accomplishments since the BCG Study Release
The agency has made consistent progress since the March 2011 release of the BCG study. Efforts
have focused on putting the right people, infrastructure and processes into place to support an effort
that has the potential to re-shape how the SEC executes its mission through redefined processes,
roles and responsibilities, and enhanced engagement with internal and external stakeholders.
The work that is required over the next several months and years cannot be effectively
accomplished without laying the groundwork for how the work will be managed, communicated
and governed. To that end, the immediate focus has been on establishing an appropriate operational
structure to address the BCG recommendations, including assigning an executive sponsor,
establishing working groups to ensure thorough analysis of the study recommendations,
establishing program management and governance protocols, and defining the management agenda
and establishing a roadmap.
Over the past six months, the SEC has:
Designated the Office of the Chief Operating Officer as the BCG Study Executive Sponsor
Upon release of the study, the Chairman designated the agency’s Chief Operating Officer (COO)
Jeffrey Heslop as the Executive Sponsor for the agency-wide effort to analyze and recommend
implementation approaches in response to the BCG study recommendations. As Executive Sponsor,
Mr. Heslop works with the recommendation initiative leads, chairs the program Executive Steering
Committee (ESC), oversees the Program Management Office (PMO), communicates progress to
key internal and external stakeholders, and has reported to the Commission by way of Closed
Meetings, workstream lead briefings and one-on-one meetings on the progress of the analysis,
considerations and preliminary recommendations.
Established Workstreams and Named Workstream Leads to Drive the Recommendations
Among its observations, the BCG study outlined 16 key recommendations across four categories
designed to make the SEC more efficient and effective. The agency has divided up these
recommendations into separate “workstreams” in order to permit further analysis and
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