Human Capital Management
The FDICís employees are its most important strategic resource.
For that reason, it seeks to continue to be the employer of choice
within the financial regulatory community and to operate a human
resources program that attracts, develops, evaluates, rewards
and retains a high quality, results-oriented workforce. During 2004,
the Corporation undertook a comprehensive analysis of its future
staffing needs and formulated a human capital strategy to guide
the FDIC through the rest of this decade. This strategy is based
upon the implementation of a new Corporate Employee Program
that will become the foundation for the establishment of a more
adaptable permanent workforce that reflects a more collaborative
and corporate approach to meeting critical mission functions.
Reducing Costs and Improving Financial Management
The FDICís operating expenses are largely paid from the insurance
funds, and the Corporation continuously seeks to improve its
operational efficiency in fulfillment of its fiduciary responsibilities
to the funds. To that end, the Corporation engages annually in
a rigorous planning and budgeting process to ensure that budgeted
resources are properly aligned with workload. That is particularly
true with respect to staffing, since personnel costs constitute well
over 60 percent of the Corporationís annual administrative expenses.
In late 2004, the FDIC Board of Directors approved management
recommendations to reduce authorized staffing by 674 positions
to 4,750 by year-end 2005.
Improving the FDICís Use of Information Technology
The Corporation established a new Chief Information Office (CIO)
Council in February 2004. The overall mission of the Council is to
serve as an executive-level advisory group to the CIO, and to help
shape Corporate IT strategy and activities. Establishing the CIO
Council is part of a multi-pronged approach to re-engineering the
Corporationís IT program.
The FDIC also greatly expanded its use of its e-government portal, FDICconnect (a secure Web site that allows FDIC-insured institutions to conduct business and exchange information with the FDIC, other federal regulatory agencies and various state banking departments), in 2004. FDICconnect will enable the FDIC to comply with the Government Paperwork Elimination Act of 1998 (GPEA) and address Presidential guidelines that direct government agencies to establish electronic alternatives to current paper processes where feasible. Nearly 44 percent of FDIC-insured institutions have registered to use FDICconnect.