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2009 Annual Report
I. Management's Discussion and Analysis
Effective Management of Strategic Resources
Human Capital Management
A leadership development curriculum was launched to expand opportunities to all employees, including newly-hired employees. This new curriculum takes a comprehensive approach, aligning leadership development with critical corporate goals and objectives, and promotes desired culture. By developing employees across the span of their careers, the Corporation builds a culture of leadership and further promotes a leadership succession strategy.
Also in 2009, the Corporation completed a pilot Corporate Executive Development Program. This comprehensive 18-month succession program provided a formalized process to identify and develop high-performing, high-potential supervisors and senior technical specialists. Pilot results are being evaluated and will be leveraged in future succession management strategies and decisions.
Additionally, the Corporation formalized its Master of Business Administration (MBA) program for Corporate Managers and Executive Managers, in conjunction with a major university. The evaluation results of the pilot MBA program were overwhelmingly positive, and participants provided explicit examples of direct application to their jobs and improved strategic thinking.
Strategic Workforce Planning and Readiness
As the number of failed financial institutions proliferated in 2009, the FDIC Board authorized the opening of two temporary satellite offices on both the west coast and the east coast to bring resources in areas hit especially hard. The West Coast Temporary Satellite Office opened in Irvine, California, in early spring and as of year-end had over 400 employees with a target of over 500. The East Coast Temporary Satellite Office opened in Jacksonville, Florida, in the fall. Although the Corporation is still recruiting for this office, eventually it too will have over 500 employees. The Corporation also increased resolutions and receiverships staff in the Dallas regional office. Almost all of the new employees in these new offices have been hired on a nonpermanent basis to handle the temporary increase in bank closing and asset management activities expected over the next two to four years. To staff these offices and meet other needs brought on by the financial crisis, the Corporation hired nearly 1,800 additional employees in 2009. The use of term appointments will allow the FDIC staff to return to an adjusted normal size once the crisis is over without the disruptions that reductions in permanent staff would cause.
The FDIC continued its efforts to build workforce flexibility and readiness by increasing its entry-level hiring into the Corporate Employee Program (CEP). The CEP is a multi-year development program designed to cross-train new employees in the FDIC's major business lines. In 2009, 206 new business line employees (736 since program inception) entered the multidisciplined program. At its largest participant capacity since inception, the CEP continues to provide a foundation across the full spectrum of the Corporation's business lines, allowing for greater flexibility to respond to changes in the financial services industry and in meeting the Corporation's staff needs. As in years past, the program continues to provide the FDIC those flexibilities as program participants were called upon to assist with both bank examination and bank closing activities based on the skills they obtained through their program requirements and experiences.
The Culture Change Initiative has continued to gain momentum, and progress is occurring toward completion of goals identified in the Culture Change Strategic Plan. The 2008 employee survey results showed marked improvement in the areas of opportunity, while maintaining or improving on areas of strength. The Corporation worked with the National Treasury Employees' Union to develop a new pay-for-performance system that is perceived to be more transparent and fair to employees. The new system was implemented in 2009. Also in 2009, the Corporation delivered training to its Corporate Managers on trust. It offered leadership enrichment activities that provided continual learning. Culture Change dialogue sessions were held across the country, with approximately 5,500 employees participating. Analysis indicates a positive response to these events and a willingness to engage in the change process. The question-and-answer mailbox and quarterly all-employee teleconferences with the Chairman continued so that employees could provide input, make suggestions, and ask questions.
The next phase of the Initiative was started in September 2009 with the selection of a new Program Manager. The Internal Ombudsman Program, initiated as part of the Culture Change Initiative, continued, providing another avenue for following up on employee issues. The Culture Change Council is being reconstituted, with at least six former Council and Team members returning to ensure continuity and up to six new members being selected. Best practices in public and private sector organizations on sustaining culture and organizational change were studied in 2009 and will be summarized, with recommendations made on sustaining the FDIC's Culture Change Initiative.
Employee Learning and Growth
The Corporation dealt with new challenges in 2009 and supported employees by providing just-in-time training to address specific issues, such as managing and selling an ever increasing number of loans acquired from failed institutions. To better prepare employees to perform this task, the FDIC undertook a multi-pronged approach that consisted of online presentations, online job aids, online simulations, and instructor-led courses. The Corporation focused its efforts on providing multiple points of access to learning delivered quickly and with the least disruption to ongoing work activities.
To provide additional flexibility in employee learning and growth, the FDIC assisted in meeting the challenge of increased activity by locating training facilities within satellite offices in Jacksonville and Irvine. This helped to ensure that necessary training could be provided locally, reducing the need for employee travel.
In 2009, the Corporation provided its employees with over 100 instructor-led courses and 600 web-based courses in support of varied mission requirements. There were over 7,000 instances of completed instructor-led courses and 18,000 instances of completed web-based courses.
Information Technology Management
During 2009, the FDIC was faced with many challenges stemming from the economic downturn and its historic impact on the financial industry. To help meet those challenges, the FDIC continued to leverage innovative, timely, reliable, and secure IT products and services to meet priority business drivers and adapt to a myriad of new financial programs.
Improving Application Systems
Security Outreach, Education,
Securing the FDIC Through Strong
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