1.6: Government Agency Investment Services

Strengthen and streamline controls for Government Agency Investment Services.

Other Information:

STRENGTHEN AND STREAMLINE CONTROLS FOR GOVERNMENT AGENCY INVESTMENT SERVICES. To gain efficiencies and strengthen controls, core business functionality that resides in four different systems will be consolidated into a single, commercially available, automated solution. As part of this effort, the number of common business processes that serve federal investments, special purpose securities, and federal borrowings will be reduced from eighteen to six. This consolidation will give us the flexibility to respond more quickly and efficiently to changes in legislation or policy. Ultimately, with standardized system, business, and data elements, we can introduce stronger internal controls and reduce operational risks. Part of this strategy will focus specifically on the additional accounting services we provide for the managed trust funds for which the Secretary serves as trustee. We will re-engineer and streamline these accounting business processes, taking advantage of system functionality and internal control mechanisms already available to us. The benefits we will gain include reduced risks through more stringent controls, greater flexibility, and operational efficiencies.

Stakeholder(s):

• Government Agency Investment Services Program

Indicator(s):

Indicator:1

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