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Treasury Financial Management Initiatives and Guidance

Treasury Financial Management Initiatives and Guidance. Presentation to the Council of the Inspector General on Integrity and Efficiency (CIGIE) April 23, 2013. Discussion Agenda. Financial Management Systems Compliance Financial Management Shared Service Intra-governmental Transactions.

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Treasury Financial Management Initiatives and Guidance

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  1. Treasury Financial Management Initiatives and Guidance Presentation to the Council of the Inspector General on Integrity and Efficiency (CIGIE) April 23, 2013

  2. Discussion Agenda • Financial Management Systems Compliance • Financial Management Shared Service • Intra-governmental Transactions

  3. Financial Management Systems • Current State • Cost and schedule overruns • Non-standard data and processes • Deficient functionality • Future State • Outcome-based environment e.g., use of ‘operational’ financial management Shared Service Providers (SSP)

  4. Revised Financial Management System Requirements • What is different about the revised requirements? • Business and data focused • Solution neutral • Federal government “unique” • How should one use the revised requirements? • Service/technology acquisition • Service/technology implementation • Federal Financial Management Improvement Act of 1996 (FFMIA) compliance determination

  5. Financial Management Systems Requirements (illustration)

  6. FFMIA Compliance Determination Framework • A risk and evidence-based assessment model that leverages existing audit tests, evaluations, and reviews that auditors, agency management, and others already perform. • Financial management goals common to all Federal agencies • Compliance indicator(s) associated with each financial management goal • Recommended risk (or performance) levels agencies should consider when evaluating whether it meets the goal

  7. FFMIA Compliance Determination Framework (illustration)

  8. The Notional Financial Management SSP Landscape FSSP – Federal Shared Service Provider ISSP – Internal Shared Service Provider PSSP – Private Shared Service Provider Core financial transactions Core financial transactions • Private players can also provide sub-contracted services, in support of FSSPs, ISSPs, and COEs, e.g., • Additional capacity • Special services • Hosting • O&M • Integration SSP Governance Board and governance functions 4 5 1 1 Core Plus PSSP sites… Core Plus FSSP sites… • Strategic planning • Service strategy and product roadmap • Agency migration plan • Funding / CapEx approval Single financial system / instance Single financial system / instance Integrator for select broadly automatable services (COEs) Integrator for select broadly automatable services (COEs) • Standards & acquisition • Data standards • Central procurement (e.g., strategic sourcing for software and services) • SSP qualification Full service FSSP Full service FSSP sites… Customer-facing Customer-facing 3 “Centers of Excellence” (CoE) Financial management transactional services Financial management transactional services 2 • Operations oversight • Performance management (e.g., benchmarking, SLAs) • Data transparency • Vendor management • Transition support Operations & maintenance Operations & maintenance DOD3 ISSP sites… (agency-specific)1 Hosting Hosting Mixed services (end to end) Mixed services (end to end) 1 At scale ISSPs certified by Governing Board, based on key metrics 2 Portion of Core Plus services assumed to be provided by private players given Fed First approach; could be multiple players 3 DOD in analysis has been excluded, but is expected to participate in SSP discussions on best practices, benchmarking, standards development, etc

  9. Point of Contact Adam Goldberg Executive Architect Office of Financial Innovation and Transformation (FIT) Department of the Treasury adam.goldberg@treasury.gov

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