III. Performance Results Summary
Program Evaluation
Program evaluations are designed to improve
the operational effectiveness of the FDIC’s
programs and ensure that objectives are met.
These evaluations are often led by the Office of
Enterprise Risk Management (OERM) and are
generally interdivisional, collaborative efforts
involving management and staff from the
affected program(s).
The Corporation’s 2010 Annual Performance Plan
contained several objectives aimed at ensuring
that the FDIC would continue to address key
corporate issues, including continuing work on
issues relating to contract oversight management,
anticipated increases in bank failures, and
continuous improvements to the FDIC’s core
business functions.
During 2009, in direct response to challenges
associated with the financial crisis, the FDIC
created six internal organizations and working
groups to address areas of increased risk to ensure
that both the FDIC’s core businesses and new
responsibilities were being managed as effectively
as possible. During 2010, OERM and other areas
of the Corporation continued this work. The six
initiatives are tied to: 1) Legacy Loans; 2) Systemic
Resolution Authority; 3) Temporary Liquidity
Guarantee Program; 4) Loss-Share Agreements; 5)
Contract Management Oversight; and 6) Resource
Management. For each initiative, key issues and
risks were identified, action plans and performance
metrics were developed as necessary, and the
Chairman was briefed on at least a monthly
basis. In many cases, enhancements to operating
procedures and automated systems of support
were made as a direct result of this heightened
management attention. Significantly, all
identified program needs have been coordinated
with those persons responsible for planning,
budgeting, staffing, and ensuring the adequacy of
infrastructure support.
These and other actions were taken in addition
to evaluations that are part of the Corporation’s
ongoing efforts to seek continuous improvements
in its programs and operations. Some of these
2010 initiatives included: reviews of financial
management and controls governing contract
operations; the sampling and testing of transaction
accuracy and controls; improved communication
between our examination and receivership
activities; and continued scrutiny of systems
development efforts to support our new and/or
expanded business activities.
Program evaluation activities in 2011 will
focus on key corporate issues, including
implementation of the Dodd-Frank Act,
corporate reorganization, control testing, and
continuous improvements to the FDIC’s core
business functions.
|