FDIC Information Technology Strategic Plan: 2017 - 2020: Path Forward

This plan gives the FDIC a clear path forward to ensure that our information resources are aligned with business requirements. The FDIC recognizes that the goals and themes in this plan represent a change in the FDIC’s IT capabilities. Achievement of these goals may require organizational and operational changes to the CIO organization, governance processes, and the role business divisions play in IT capability development and operation. This strategic plan provides direction for those changes. Industry-recommended best practices of investment prioritization, roadmaps, and implementation sequencing will inform when actions start and who plays a role. The FDIC will develop practices to review progress and performance in conjunction with the FDIC’s annual performance planning process.

Specifically, the FDIC will consider undertaking the following steps at the initiation of the strategic plan:

1. Streamline, supplement, or develop new IT-governance capabilities to support high-level planning and monitoring of current investment performance, as necessary.
2. Further define the current enterprise portfolio of IT investments and establish criteria for prioritizing new capabilities. Study alternatives and evaluate cost/benefit of current and proposed investments.
3. Estimate the FDIC’s capacity for supporting new IT projects to inform its annual planning process.
4. Ensure strategies supporting this plan align with the objectives stated in the FDIC strategic plan and other relevant planning documents.
5. Monitor strategic plan implementation, report performance, and adjust strategies, as necessary.

The FDIC has the opportunity to review its IT governance structures and capabilities and mature them to effectively provide direction and monitor existing and new investments. Any new, streamlined, or supplemented governance structure should include the responsibilities identified in the figure found on page 15. Governance will have the ability to evaluate the value of IT investments with regard to their contribution to achieving business objectives.

The CIOO will continue efforts to identify all IT investments across the enterprise and store this information in a common repository. This will provide transparency and allow executives to evaluate how different investments contribute to business activities. Continuous evaluation can lead to disinvestment in low-value assets and free up resources to focus on new capability development. Regular reviews provide the opportunity to make adjustments and keep implementation on track. We will foster a culture that encourages open dialogue, focusing on priorities and using performance data to make informed decisions.

With a complete portfolio in hand, the FDIC can begin to look at how resources can be shifted to focus on new work. This may require different acquisition strategies, re-training of staff to gain advanced skills, or recruiting new staff to fill competency gaps. New planned work will be integrated into existing enterprise-planning processes such as budget formulation, annual operations planning, and performance goal setting.

FDIC leadership is supportive of efforts to ensure that the implementation of these plans is harmonized and makes effective use of the FDIC’s resources. Ensuring that these plans align will result in innovative, resilient IT capabilities that effectively support the FDIC mission.

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