Tag Archives: Treasury Department

Wally Adeyemo, formerly president of the Obama Foundation, has received Senate confirmation to serve as the Department of the Treasury's deputy secretary. His professional record includes work that has supported U.S. national security and economic pursuits, Janet Yellen. Yellen said Adeyemo helped the Consumer Financial Protection Bureau rise up from the great recession.

Sonny Bhagowalia, who recently served as the U.S. Customs and Border Protection's (CBP) acting chief information officer, has been appointed to take up the role on a full-time basis. Bhagowalia held the CIO role at the Interior and Treasury departments, Hawaii's state government and the Bureau of Indian Affairs, making his new CBP job his fifth time as a government CIO.

Nancy Sieger, who has been the Internal Revenue Service's (IRS) acting chief information officer for almost two years, will take up the role on a full-time basis. She served as the agency's associate CIO for applications development and held other roles related to tax reform and operations in the agency.

Justin Marsico, chief data officer of the Bureau of the Fiscal Service, said the bureau’s pilot effort to use artificial intelligence to process documents helps reduce friction for remote employees. The concept is meant to “recognize and build on the customer experience journey-mapping that VA has led on,” Kshemendra Paul noted.

President-elect Joe Biden has selected Janet Yellen, former chair of the Federal Reserve, to be secretary of the Treasury and Neera Tanden, president and CEO of the Center for American Progress, to serve as director at the Office of Management and Budget (OMB). Yellen and Tanden are among the six nominees and appointees for the incoming administration's key economic positions.

The federal budget deficit for the 2020 fiscal year ended on Sept. 30th reached $3.1 trillion, more than three times higher than the prior-year period’s shortfall, according to a new Congressional Budget Office (CBO) report. According to CBO, receipts from payroll taxes, the second largest source of revenues, saw a five percent increase. 

The Department of the Treasury plans to update technical aspects of the Terrorism Risk Insurance Program in line with legislation aimed at addressing terrorism-related disruptions and stabilizing the private market following terrorist attacks. The Treasury said in a Federal Register document that the TRIP comes as part of efforts to comply with the TRIP Reauthorization Act of 2019.

The Department of the Treasury's Office of the Inspector General  has identified COVID-19 as a new challenge affecting the organization's interests as the calendar shifts to 2021. A report stated that COVID-19 has challenged the Treasury in terms of remote working and added responsibilities, said Richard Delmar, deputy inspector general at OIG.

Chief data officers said they were able to establish connections with federal employees with skills in data science driven by recent visibility into their mission. Daniel Morgan said the agency helps empower a group of employees to gain access to data and make connections with other individuals through his office. 

The Bureau of the Fiscal Service initiated a couple of new efforts to simplify how the U.S. federal government processes and manages financial activities. The Digital End-to-End Efficiency initiative aims to fully automate and digitally transform a business process instead of only automating certain, individual tasks, the bureau said Monday.