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Federal Deposit
Insurance Corporation

Each depositor insured to at least $250,000 per insured bank

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2010 Annual Report

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.

Last Updated 5/5/2011

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