FDIC Information Technology Strategic Plan: 2017 - 2020: Introduction
Congress created the FDIC in the Banking Act of 1933 to maintain stability and public confidence in the nation’s banking system. The statute provided a federal government guarantee of deposits in U.S. depository institutions so that consumers’ funds, within certain limits, would be safe and available to them in the event of a financial institution failure. In addition to its role as insurer, the FDIC is the primary federal regulator of federally insured state-chartered banks that are not members of the Federal Reserve System. In this capacity, the FDIC examines and supervises financial institutions for safety and soundness and consumer protection. The FDIC also acts as receiver for insured depository institutions (IDIs) that fail and has resolution planning responsibilities (jointly with the Federal Reserve Board) for large and complex financial companies. The FDIC carries out its mission through three major programs: insurance, supervision, and receivership management.
Information Technology (IT) is a key enabler in ensuring the success of FDIC’s core programs. The FDIC must ensure that strong security and privacy controls protect the information used in the course of carrying out its responsibilities. The FDIC’s IT needs to be scalable and IT services need to be delivered efficiently and effectively. IT must be aligned with business needs, including access and mobility for all authorized users.
Representatives from the CIOO and the FDIC’s business divisions contributed their insight and knowledge of IT challenges and opportunities with the anchoring principles that IT service delivery is secure, affordable, forward-thinking, and better equips the FDIC to carry out its mission. This plan is intended to address many of the foundational issues affecting the cost and quality of IT services in support of the business. Guidelines laid out in this plan provide strategic direction, but this document is not a comprehensive implementation plan. The FDIC's IT Vision statement summarizes the outcomes this plan intends to reach.
The FDIC is a recognized leader in promoting sound public policies, addressing risks in the nation's financial system, and carrying out its insurance, supervisory, consumer protection, resolution planning, and receivership management responsibilities.
The FDIC and its employees have a tradition of distinguished public service. Six core values guide us in accomplishing our mission:
- Integrity—We adhere to the highest ethical and professional standards.
- Competence—We are a highly skilled, dedicated, and diverse workforce that is empowered to achieve outstanding results.
- Teamwork—We communicate and collaborate effectively with one another and with other regulatory agencies.
- Effectiveness—We respond quickly and successfully to risks in insured depository institutions and the financial system.
- Accountability—We are accountable to each other and to our stakeholders to operate in a financially responsible and operationally effective manner.
- Fairness—We respect individual viewpoints and treat one another and our stakeholders with impartiality, dignity, and trust.
FDIC IT VISION
To provide scalable, efficient technology that enables continuous access to data securely from any place at any time.
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