5.3: Information Technology
Use information technology (IT) to improve the operational efficiency of our business processes Other Information:
The Corporation is committed to using information technology (IT) to improve the operational efficiency of its business processes.
Over the past three years, the Corporation has made great strides in making the IT capital planning and investment management
(CPIM) process more effective. The CPIM process is overseen by the Corporation’s Capital Investment Review Committee, which
is chaired jointly by the Chief Information Officer and the Chief Financial Officer and includes key senior managers. IT investments
are strategically directed and are judged by their impact on the effectiveness and/or efficiency of the FDIC’s mission critical
functions. Proposals for new investments are considered against gaps in current capabilities. The revised CPIM process is
integrated with the FDIC’s Enterprise Architecture (EA) process. The initial foundation work for the EA was completed in 2003.
During the period covered by this plan, the FDIC will continue to enhance the EA program. This will facilitate the identification
of duplicative resources/investments, gaps, and opportunities for internal and external collaboration and will result in operational
improvements and cost-effective solutions to business requirements. This enterprise focus will permit the Corporation to reduce
its application systems inventory and consolidate its technology platforms. In addition, the Corporation will implement an
IT research and development program in order to promote an environment where IT research and innovation activities support
business strategies. The FDIC will also embrace the principles associated with the Capability Maturity Model Integration (CMMI)
developed by the Carnegie Mellon Software Engineering Institute. CMMI helps organizations increase the maturity of their people,
processes and technology assets to improve longterm business performance. The FDIC’s target is to reach level 3 of the 5-
step maturity range, which represents a considerable commitment to the achievement of quality processes. Starting in 2005,
the Corporation will employ the Rational Unified Process (RUP), a flexible, iterative system development methodology. FDIC’s
adoption of RUP will provide an improved system development methodology that will minimize risk, provide predictable results,
and deliver high quality software on time and within budget. The Corporation is also strongly committed to maintaining an
effective IT security program which provides a continuous cycle for assessing risk and implementing effective security procedures
to proactively ensure the reliability, availability and confidentiality of information. IT security for major enterprise systems
has been identified as a reportable condition by the Government Accountability Office (GAO) in its audits of the FDIC’s annual
financial statements for several years, and the Corporation is committed to the ongoing improvement of its IT security program
in order to eliminate that reportable condition. The most recent assessment by the GAO indicates that the FDIC has made significant
progress in addressing previously identified weaknesses in information systems controls. The Corporation has substantially
increased the resources devoted to IT security and will continue to appropriately address the constantly changing federal
security requirements and the evolving needs of the FDIC.
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