|Administrative Management & Support||17%|
|All Other Programs||83%|
|Administrative Management & Support||17%|
|All Other Programs||83%|
The fulfillment of the Commission’s mission and the achievement of its goals depend on a foundation of sound management and organizational excellence. This foundation is essential to support the work of the Commission in the Washington D.C. headquarters and three regional offices in New York, Chicago, and Kansas City. The Commission is committed to maintaining a well-qualified, skilled and diverse workforce supported by a modern infrastructure and support services that enable staff to achieve programmatic goals. Building and sustaining this foundation requires continuous review and investment in people, technology, management initiatives and facilities.
The Office of Executive Director (OED) staff ensures Commission compliance with Federal laws, regulations and requirements enacted by Congress and imposed by the Office of Management and Budget (OMB), the U.S. Treasury, the Government Accountability Office (GAO), and the Office of Personnel Management. The Executive Director serves as the Chief Operating Officer (COO) responsible for the effective and efficient allocation and use of resources. The COO also develops and implements management and administrative policy and programs, functions and services of the Commission. The program’s broad ranging mandate is centrally managed and administered through the offices of the Executive Director: Human Resources (OHR); Financial Management (OFM); Information and Technology Services (OITS); Management Operations; and the Library.
In FY 2011, the Administrative Management and Support subprogram requests a total of 125 FTEs, an increase of two FTE over the FY 2010 level. The two FTE, together with a current staff of one professional focused on strategic and operational planning, will establish a planning and evaluation function. This new team represents the first permanent resources fully dedicated to establishing, executing and monitoring strategic and annual operating plans. With the significant increase in funding and resources, it is imperative that the Commission develop program measurement and evaluation methodologies. These FTE will assist the Commission’s programs in establishing metrics to track, monitor and evaluate program results, outcomes, and goal achievement to ensure the effective and efficient allocation and application of resources.
Office of Financial Management. The Commission’s focus on financial integrity and its expectation of financial accountability are key cornerstones in the Commission’s ability to achieve unqualified audit opinions and comply with Federal financial laws and regulations. Effective financial management systems and services facilitate Commission executives in successfully monitoring and achieving program performance. The Office of Financial Management staff interfaces with the Department of Transportation systems and services to ensure that the financial resources entrusted to the Commission are well managed and judiciously deployed. Effective stewardship over agency resources enhances program management and mission performance. The Budget and the Performance and Accountability Report permit the public to see how well programs perform, and the cost incurred to achieve that performance. In 2008, the Commission was recognized by the Association of Government Accountants for the fourth consecutive year for excellence in financial reporting. The one FTE requested will provide direct support to the CFO in bringing consistency to managing the three separate organizational units of OFM and to providing the opportunity to integrate program functions for efficiency and effectiveness. This position will work closely with the newly established planning and evaluation team to fully integrate performance budgeting and evaluation into the Commission financial management program.
Office of Information and Technology Services. The Commission’s ability to fulfill its mission continues to depend heavily on the collection, storage, accessibility and analysis of voluminous amounts of data from futures market participants. The continuing increase in the volume and complexity of the data collected requires continuing investments in and sustained support of IT systems and resources to enable staff to fully monitor the markets, promote greater market transparency and efficiency, and support market integrity. Resources allocated to the Office of Information and Technology Services will ensure the agency continues to have the competencies and skill sets needed to sustain technology that is as modern and dynamic as the technology-driven markets the CFTC is charged with overseeing. The Commission must continue to leverage highly competent skilled IT resources to employ 21st century technology in protecting the American people.
Expecting continued growth of trade and order volumes, and more complex and time sensitive information analysis efforts, the Commission will sustain and continue to invest in critical programs that are aligned with the agency mission:
These initiatives are the top information technology priorities of the Commission and are critical mission support activities essential to market surveillance, financial risk management, economic analysis, data transparency, and regulatory enforcement. These initiatives will be sustained, improved, and enhanced as driven by evolving market conditions.
Office of Human Resources. The Commission performs a vital role in protecting the integrity of the futures and option markets—one of America’s most innovative and competitive financial services industries. To maintain the U.S. role as the world leader in setting the standard for ensuring market integrity and protection for market users, the Commission must be able to attract, train, promote and retain a professional workforce with the capacity to meet this evolving mission.
The Commission continually refines and enhances its strategic human resource initiatives. A governance committee of senior managers draws on frequent employee input to develop programs that will support long-term mission goals of knowledgeable, diverse and productive human capital. The goal is a workforce that reacts and adapts quickly in terms of size, skills and composition to meet changes in the industry, technology and/or statutory or regulatory developments. The governance process has contributed to annual successes in the development and implementation of a comprehensive pay and benefits program mandated by Section 10702 of Public Law 107-171, the FSRIA of 2002. The Commission is in its second full year of measuring performance under a merit pay system to foster a performance culture. The Commission system for classifying its mission-critical positions is under review by the governance committee. Next steps include consideration of differentiating compensation for supervisory responsibilities and a review of the executive management classification system.
This ongoing strategic management of human capital initiatives commits the agency to improving its ability to: 1) plan for anticipated change in workforce composition; 2) target and recruit employees to fill critical skill deficiencies; 3) support employee development; 4) identify and justify staff resources needed to perform statutory mandates; and 5) implement the Title V-exempt CT pay plan envisioned by FISRA. No additional positions are requested for this program.
Office of Management Operations. The Office of Management Operations (OMO) provides support to Commission by ensuring the leasing, operation and maintenance of appropriate office facilities in Washington, DC and three regional locations. OMO is accountable for the timely delivery of quality products and services to provide staff with the tools needed to accomplish their work. The Commission’s physical assets are managed, secured and accounted for by the OMO staff. Current program priorities are around the acquisition, build out and occupation of additional office space in the Washington, DC headquarters and the Chicago regional office. The ongoing project to complete a cyclical update and standardization of furniture assets continues as funding is available. No additional positions are requested for this program.
Administrative Management and Support. Without the two FTE requested to establish a planning and evaluation function, the Commission will continue to have insufficient resources devoted to planning and program performance. With growing FTE and financial resources and an increasingly complex mission, the Commission must ensure sound stewardship over the taxpayers’ investment in its mission. Effective program and resources stewardship can only be achieved through establishing and sustaining best business practices. Such practices include planning, strategically and operationally, and measuring program achievements and outcomes. Effective program evaluation and measurement must build off of appropriate metrics and well planned outcomes. Without a planning and evaluation team, accurately assessing and reporting on the effect of the increased investment in the Commission’s program will be challenging. Equally challenging will be sustaining compliance with the Government Performance and Results Act and other regulatory and legislative mandates around effective program governance.
Office of Information and Technology Services. The consequence for the Office of Information and Technology Services not receiving requested resources will be a curtailment of the Commission’s ability to keep pace with the industry data growth and the need for more effective and complex information analysis. The Commission will not be able to sustain and continue improvements supporting trade practice surveillance, trader account identification, large trader reporting, economic analysis, and litigation support. Without the ability to leverage these resources, the Commission will not be able to continue current levels of surveillance and analysis, resulting in less transparent futures markets and a greater risk of market fraud, manipulation and excessive speculation.
|Subprogram||FY 2010||FY 2011||Change|
|Administrative Management & Support||$31,035||123.00||$35,161||125.00||$4,126||2.00|
|Outcomes||FY 2010||FY 2011||Change|
|GOAL ONE: Protect the economic functions of the commodity futures and option markets.|
|1.1 Futures and option markets that accurately reflect the forces of supply and demand for the underlying commodity and are free of disruptive activity.||$959||3.80||$1,069||3.80||$110||0.00|
|1.2 Oversee markets which can be used effectively by producers, processors, financial institutions, and other firms for the purposes of price discovery and risk shifting.||3,230||12.8||3,600||12.8||370||0.00|
|Subtotal Goal One||$4,189||16.60||$4,669||16.60||$480||0.00|
|GOAL TWO: Protect market users and the public.|
|2.1 Violations of Federal commodities laws are detected and prevented.||$1,842||7.30||$2,053||7.30||$211||0.00|
|2.3 Customer complaints against persons or firms falling within the jurisdiction of the Commodity Exchange Act are handled effectively and expeditiously.||757||3.00||844||3.00||87||0.00|
|Subtotal Goal Two||$2,599||10.30||$2,897||10.30||$298||0.00|
|GOAL THREE: Foster open, competitive, and financially sound markets.|
|3.1 Clearing organizations and firms holding customer funds have sound financial practices.||$971||3.85||$1,083||3.85||$112||0.00|
|3.3 Markets are free of trade practice abuses.||1,337||5.30||1,491||5.30||154||0.00|
|Subtotal Goal Three||$2,308||9.15||$2,574||9.15||$266||0.00|
|GOAL FOUR: Organizational and Management Excellence.|
|4.1 A productive, technically competent, competitively compensated, and diverse workforce that takes into account current and future technical and professional needs of the Commission.||$4,542||18.00||$5,063||18.00||$521||0.00|
|4.2 A modern and secure information system that reflect the strategic priorities of the Commission.1||7,052||27.95||7,862||27.95||810||0.00|
|4.3 An organizational infrastructure that efficiently and effectively responds to and anticipates both the routine and emergency business needs of the Commission.||4,289||17.00||4,782||17.00||493||0.00|
|4.4 Financial resources are allocated, managed and accounted for in accordance with the strategic priorities of the Commission.||4,037||16.00||4,501||16.00||464||0.00|
|4.5 The Commission’s mission is fulfilled and goals are achieved through sound management and organizational excellence provided by executive leadership.||2,019||8.00||2,813||10.00||794||2.00|
|Subtotal Goal Four||21,939||86.95||25,021||88.95||3,082||2.00|
|1Represents Office of Information Technology Services dollars and staff resources not otherwise allocated to Goals 1, 2, or 3. (back to text)|