OIG Annual Performance Report

2014 Annual Performance Report


Office of Inspector General Board of Governors of the Federal Reserve System | Consumer Financial Protection Bureau

In 2013, the Office of Inspector General (OIG) issued its Strategic Plan 2013–2016, which provides an overview of our organizational goals and objectives for the period and the indicators we are using to measure our performance. In 2014, the OIG began foundational efforts to establish key performance measures that directly relate to each performance indicator in our strategic plan. This report summarizes the progress we made in calendar year 2014 in achieving our goals and objectives.

Introduction

Deliver timely, high-quality products and services that promote agency improvement.

Products and Services1Increase employee engagement; cultivate leadership; and foster a skilled, knowledgeable workforce.

Workforce2

Optimize stakeholder engagement.

Stakeholders3Enhance the capacity of the OIG to accomplish expanded oversight while improving operational effectiveness.

Capacity and Operations4

“To be the trusted oversight organization of

the Board and the CFPB.”

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Goal 1—Deliver timely, high-quality products and services that promote agency improvement.

Objective: Reduce the completion time of engagements.

Performance target: Issue 50 percent of audit and evaluation reports within six to nine months of conducting the project entrance conference with the agency.

Progress: During 2014, the OIG issued 44 percent of audit and evaluation reports within nine months of conducting the entrance conference. (The remaining 56 percent were issued within 12 months.)

Objective: Enhance quality standards and streamline the report drafting and quality review process for OIG products.

Performance target: By the third quarter of 2015, develop a new quality review process for audit and evaluation reports that condenses the review process to 10 weeks or less.

Progress: In 2014, the OIG developed a standardized quality review process.

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Objective: Focus OIG resources on critical agency programs, operations, and management challenges.

Performance target: By the first quarter of 2014, develop a list of major management challenges for the Board of Governors of the Federal Reserve System (Board) and the Consumer Financial Protection Bureau (CFPB), and by the fourth quarter of 2014, conduct a baseline risk assessment of Board and CFPB programs and operations.

Progress:On September 30, 2014, the OIG issued a list of top management challenges for the Board and the CFPB.

On December 15, 2014, the OIG completed an audit universe project assessing risks to Board and CFPB programs and operations.

In 2014, 81 percent of completed, ongoing, and planned audit and evaluation projects for the Board addressed at least one of the Board’s major management challenges.

In 2014, 100 percent of completed, ongoing, and planned audit and evaluation projects for the CFPB addressed at least one of the CFPB’s major management challenges.

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Objective: Implement effective project management approaches in all OIG functions.

Performance target: By the third quarter of 2014, develop effective project management dashboards for all OIG functions.

Progress: In the third quarter of 2014, the Office of Audits and Evaluations began using TeamMate as its dashboard for tracking audit recommendations and project milestones.

In 2014, the Office of Investigations worked on developing project management dashboards to enhance the measurement of, and reporting on, investigations.

Objective: Establish a process to measure the impact of OIG products.

Performance target 1: In 2014, develop a customer survey satisfaction index and establish a baseline measurement.

Progress: In 2014, the OIG conducted interviews of Board and CFPB leadership to determine how we can continuously improve our audit process and our method for assessing the effects of OIG products and services.

Performance target 2: Ninety percent of audit and evaluation recommendations are agreed to by the agency.

Progress: In 2014, the Board and the CFPB agreed to 100 percent of audit and evaluation recommendations.

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Goal 2—Increase employee engagement; cultivate leadership; and foster a skilled, knowledgeable workforce.

Objective: Promote a culture of involvement, continuous feedback, and recognition.

Performance target: In 2014, achieve a 70 percent favorable score overall and a 70 percent favorable score on the feedback and recognition questions on the annual employee engagement survey.

Progress:In fall 2013, the OIG garnered a 59 percent favorable score overall on its employee engagement survey, which is considered a good score with room for improvement. The OIG postponed the next engagement survey until spring 2015 with the intent of administering the survey each spring.

In 2014, an online prototype was developed to facilitate the administration of the new OIG Peer-to-Peer Employee Recognition Program.

In 2014, the OIG piloted the Board’s new performance management program. This program places emphasis on frequent employee-manager conversations with feedback focusing on the what (what employees do to accomplish their work) and the how (how employees accomplish their work). This program also emphasizes learning, improving, and growing in one’s career.

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Objective: Improve message content, delivery methods, and timeliness of internal communications.

Performance target: In 2014, achieve a 70 percent favorable score on the organizational communications questions in the annual employee engagement survey.

Progress: In 2014, the OIG developed an internal newsletter, the OIG Insider, to enhance internal organizational communications and increase employee engagement. The employee engagement survey was postponed until spring 2015.

Objective: Implement an effective framework for career development.

Performance target: By the second quarter of 2014, develop a career and training map for auditors and investigators based on Lominger competencies.1

Progress: In 2014, the OIG completed the training maps for auditors and investigators. The training maps for the remaining offices are under development.

1. The 67 Lominger competencies are career competence and success profile tools developed by Mike Lombardo and Bob Eichinger.

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Goal 3—Optimize stakeholder engagement.

Objective: Promote a culture of engagement with stakeholders.

Performance target: Beginning in 2014, identify and categorize the stakeholder universe and make proactive contact at least twice a year to inform stakeholders about the value of our work and our ideas for oversight.

Progress:

Congressional outreach. In 2014, the OIG held 21 briefings and meetings with congressional stakeholders on OIG work and issues related to the Board and the CFPB. This outreach helped inform our annual audit and evaluation work planning process by identifying congressional areas of interest.

Media outreach. In 2014, the OIG conducted four outreach meetings with media representatives focusing on the Board and the CFPB. Feedback from this outreach resulted in enhancements to the OIG’s online Work Plan and in a change to the posting time on the OIG’s website.

General public outreach. In 2014, the OIG launched a new website to improve our external communications. The website has a clean look, provides an online Hotline complaint form, and is user-friendly for visitors (employees, congressional stakeholders, members of the media, and the general public). The new website features responsive design, which provides users with full browsing capability from handheld devices. Visits to our new website have been more than 100 percent greater than visits to our old website.

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Objective: Encourage stakeholder input.

Performance target: By 2014, develop a stakeholder outreach and communications effectiveness measure and establish a baseline.

Progress: In 2014, the OIG conducted interviews with Board and CFPB leadership to inquire about engagement, to discuss the value of OIG work, and to gather suggestions for improvement. This outreach resulted in the development of an auditee experience survey and the establishment of annual leadership interviews, which will be implemented in the fourth quarter of 2015, to ensure that we receive feedback from our stakeholders that allows us to continuously improve.

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Goal 4—Enhance the capacity of the OIG to accomplish expanded oversight while improving operational effectiveness.

Objective: Evaluate OIG performance to identify areas for improvement.

Performance target 1:By the fourth quarter of 2013, conduct a review of OIG operations based on the Quality Standards for Federal Offices of Inspector General (also known as the Silver Book), which sets forth the overall quality framework for managing, operating, and conducting the work of OIGs.

Progress: In 2014, the OIG’s Quality Assurance program finished the first-ever Silver Book review of OIG operations. The review found general OIG compliance with Silver Book standards and made some recommendations for improvement.

Performance target 2:By the fourth quarter of 2014, implement a metrics dashboard for all OIG operations.

Progress: In 2014, the OIG began efforts to collect and analyze data on a quarterly basis to assess OIG results and progress toward performance targets, a process we call OIGStat. OIGStat will allow us to better measure and report on our performance and identify improvement opportunities.

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Objective: Enhance productivity through further integration of technology.

Performance target: Increase OIG staff members’ use of SharePoint to enhance collaboration and productivity.

Progress: In 2014, the OIG began the planning phase of its SharePoint redesign effort.

Documents

OIG Annual Performance Report