Department Of The Treasury

FY 2014-2017

Strategic Plan

Department of the Treasury Strategic Plan FY 2014–2017

Message from the Secretary

When President Obama was sworn into office five years ago, the United States 

was in the grip of one of the worst economic recessions in our history. At 

that time, the financial system was in crisis, the auto-industry was in a free 

fall, and home foreclosures were mounting. In response, the President and 

his Administration moved with speed and force to put out the financial fires, 

reignite economic growth, and lay the foundation for long-term economic 

prosperity.

Today, thanks in large part to the hard work of the Department of the 

Treasury in helping to shape and implement the President’s economic policies, 

we face a very different outlook than we did five years ago. Our economy has 

grown steadily, our businesses have created more than eight million jobs since 

2011, and our deficits have been cut in half. Yet, we still have more work to 

do to help speed up growth and create more jobs.

In the months and years ahead, Treasury will continue to focus on accelerating 

economic growth here and abroad, protecting our financial system from 

systemic and national security threats, and improving our fiscal sustainability while responsibly managing the 

nation’s finances. 

To accomplish these goals, Treasury has crafted a comprehensive set of policy and management priorities that 

will make the Department more effective and efficient while supporting and developing the skills and talents of 

Treasury’s dedicated workforce. Further progress by Congress to build on its recent success in passing bipartisan 

appropriations legislation will help provide the foundation for Treasury to achieve these aims and will help us bring 

about sustainable long-term growth through strategic investment of the government’s resources.

The priorities outlined in the following document will remain central to the Administration’s efforts to secure our 

economic future now and for the long term. I am pleased to submit the Strategic Plan of the Department of the 

Treasury for Fiscal Years 2014-2017.

Sincerely, 

Jacob Lew 

Secretary of the Treasury

Message from the Secretary i
Department of the Treasury Strategic Plan FY 2014–2017

ii
Department of the Treasury Strategic Plan FY 2014–2017

Table of Contents

Message from the Secretary  

The Department of the Treasury at-a-Glance .

Mission .

FY 2014–2017 Strategic Goal Overview .

Setting the Stage: External Factors Affecting Treasury’s Strategic Outlook .

Goal 1: Promote domestic economic growth and stability

while continuing reforms of the financial system .

Goal 2: Enhance U.S. competitiveness and job creation, and promote

international financial stability and more balanced global growth . 

Goal 3: Fairly and effectively reform and modernize federal

financial management, accounting, and tax systems . 

Goal 4: Safeguard the financial system and use financial measures

to counter national security threats . 

Goal 5: Create a 21st–century approach to government by

improving efficiency, effectiveness, and customer interaction . 

Appendices . 

Exhibit A: Performance Management and Strategic Planning in Treasury . 

Exhibit B: Definition of Strategic Planning Terms . 

Exhibit C: Alignment of Treasury Programs to Strategic Objectives . . . . . . . . . . . . . . . . . . . . . . . . 43

Table of Contents iii
Department of the Treasury Strategic Plan FY 2014–2017

iv
1

Department of the Treasury Strategic Plan FY 2014–2017

The Department of the Treasury 

at-a-Glance

Throughout its rich history, Treasury’s core mission has not changed. With more than 100,000 employees 

in its ranks, Treasury is still the steward of the U.S. economy – taking in revenue, paying bills, and, when 

appropriate, borrowing and investing public funds. In more recent years, Treasury’s role has expanded to 

being a leader in safeguarding and growing the nation’s economy.

Treasury is organized into the Departmental Offices, seven operating bureaus, and three inspectors 

general. The Departmental Offices are primarily responsible for policy formulation, while the bureaus are 

primarily the operating units of the organization.

The Department of the Treasury At-a-Glance
Department of the Treasury Strategic Plan FY 2014–2017

Departmental Offices

Domestic Finance works to preserve 

confidence in the U.S. Treasury 

market, effectively manage federal 

fiscal operations, strengthen financial 

institutions and markets, promote 

access to credit, and improve financial 

access and education in service of 

America’s long-term economic strength 

and stability.

International Affairs protects and 

supports U.S. economic prosperity 

and national security by working to 

help ensure the most favorable external 

environment for sustained jobs and 

economic growth in the United States. 

Terrorism and Financial Intelligence marshals the Department’s intelligence and enforcement functions 

with the twin aims of safeguarding the financial system against illicit use and combating rogue nations, 

terrorist facilitators, weapons of mass destruction (WMD) proliferators, money launderers, drug kingpins, 

and other national security threats.

Economic Policy reports on current and prospective economic developments and assists in the 

determination of appropriate economic policies. The office is responsible for the review and analysis of 

domestic economic issues and developments in the financial markets.

Tax Policy develops and implements tax policies and programs, reviews regulations and rulings to 

administer the Internal Revenue Code, negotiates tax treaties, and provides economic and legal policy 

analysis for domestic and international tax policy decisions. Tax Policy also provides revenue estimates for 

the President’s Budget.

The Treasurer of the United States chairs the Advanced Counterfeit Deterrence Steering Committee and is a 

key liaison with the Federal Reserve. In addition, the Treasurer serves as a senior advisor to the Secretary 

in the areas of community development and public engagement. 

Other Offices

Internally, the Departmental Offices are responsible for overall management of Treasury. The Office of 

Management and the Chief Financial Officer are responsible for managing the Department’s financial 

resources and overseeing Treasury-wide programs, including human capital, information technology, 

acquisition, and diversity issues.

Other offices include General Counsel, Legislative Affairs, and Public Affairs. Three inspectors general 

– the Office of the Inspector General (OIG), the Treasury Inspector General for Tax Administration 

(TIGTA), and the Special Inspector General for the Troubled Asset Relief Program (SIGTARP) – provide 

independent audits, investigations, and oversight of the Department of the Treasury and its programs.

2 The Department of the Treasury At-a-Glance
Department of the Treasury Strategic Plan FY 2014–2017

Bureaus

The Alcohol and Tobacco Tax and Trade Bureau (TTB) collects federal excise taxes on alcohol, tobacco, 

firearms, and ammunition and is responsible for enforcing and administering laws covering the 

production, use, and distribution of alcohol and tobacco products.

The Bureau of Engraving and Printing (BEP) develops and produces U.S. currency notes that are trusted 

worldwide.

The Financial Crimes Enforcement Network (FinCEN) safeguards the financial system from illicit use 

and combats money laundering and promotes national security through the collection, analysis, and 

dissemination of financial intelligence and strategic use of financial authorities.

The Bureau of the Fiscal Service (Fiscal Service) – previously the Financial Management Service and the 

Bureau of the Public Debt – provides central payment services to federal program agencies, operates the 

U.S. government’s collections and deposit systems, provides government-wide accounting and reporting 

services, and manages the collection of delinquent debt owed to the U.S. government. In addition, the 

Fiscal Service borrows the money needed to operate the U.S. government through the sale of marketable, 

savings, and special-purpose U.S. Treasury securities, and accounts for and services the public debt.

The Internal Revenue Service (IRS) is the largest of the Department’s bureaus and determines, assesses, and 

collects tax revenue in the United States.

The United States Mint (U.S. Mint) designs, mints, and issues U.S. circulating and bullion coins; prepares 

and distributes numismatic coins and other items; and strikes Congressional Gold Medals and other 

medals of national significance. The Mint maintains physical custody and protection of most of the 

nation’s gold and all of its silver assets. 

The Office of the Comptroller of the Currency (OCC) charters, regulates, and supervises national banks and 

federal savings associations to ensure a safe, sound, and competitive banking system that supports the 

citizens, communities, and economy of the United States. The OCC also supervises federal branches 

and agencies of foreign banks. Effective July 21, 2011, Title III of the Dodd-Frank Wall Street Reform 

and Consumer Protection Act transferred to the OCC responsibility for the supervision of federal savings 

associations (thrifts) and rule-making authority for all savings associations.

Mission

Maintain a strong economy and create economic and job opportunities by promoting conditions that 

enable economic growth and stability at home and abroad; strengthen national security by combating 

threats and protecting the integrity of the financial system; and manage the U.S. government’s finances 

and resources effectively.

The Department of the Treasury At-a-Glance 3
Department of the Treasury Strategic Plan FY 2014–2017

FY 2014-2017 

Strategic Goal Overview

For the next four years, all Treasury in both the bureaus and policy offices, will align to and concentrate 

their efforts toward five primary strategic goals. These five goals represent the major areas in which 

Treasury will move toward a more secure and prosperous future for the American people. In the broadest 

terms, these areas concern the domestic economy, the international economy, managing the nation’s 

finances, safeguarding and protecting the financial system, and instilling a culture of organizational 

excellence across Treasury. 

The goals, objectives, strategies, and supporting information in this plan are ambitious, setting forth 

Treasury’s intentions through Fiscal Year 2017.

Treasury plans to use a suite of performance measures and indicators to evaluate progress toward each 

strategic objective that supports these five goals. Performance measures will be monitored and updated 

as objectives and programs evolve. In addition to using regularly reported performance data, we plan to 

conduct in-depth evaluations of programs as well as analysis of more qualitative information to help better 

understand the success and impact of program strategies and actions.

4 FY 2014 – 2017 Strategic Goal Overview
Department of the Treasury Strategic Plan FY 2014–2017

Setting the Stage:

External Factors Affecting 

Treasury’s Strategic Outlook

Five years after the financial crisis, which resulted in trillions of dollars in lost household wealth and 

millions of jobs lost, the U.S. economy has returned to a position of stability and growth. While the 

outlook is much brighter than could have been imagined in the depths of the crisis, many challenges 

remain. In planning Treasury’s strategic direction for the next four years, we considered the potential 

impacts of factors outside of our control and how these factors might affect our ability to accomplish this 

plan. 

Market Uncertainty

Treasury, in conjunction with other agencies, has made great progress in implementing the financial 

regulatory reforms enacted in response to the financial crisis of 2008. These reforms aim to reduce the 

likelihood of similar crises in the future. However, reforms can never guarantee safety, especially in this 

rapidly globalizing world where a crisis in one country can have a domino effect on the financial stability 

of many others. Consequently, we must remain vigilant against future threats to the financial system and 

quickly react to warning signs to minimize damage. 

Pace of Technological Change

The pace of technological change impacts everything from the operation of financial markets (e.g., high 

frequency trading), to the disruption and rapid evolution of key industries, to the very way in which we 

conceive of currency. We must keep pace with technological changes in order to preserve the safety and 

fairness of the U.S. economy.

Increasing Sophistication of Criminals and other Bad Actors

There will always be individuals and organizations who are motivated to actively defy U.S. and 

international laws, and who attempt to exploit the nation’s financial industry. Each year, criminals and 

bad actors deploy increasingly sophisticated methods to avoid detection or disrupt financial systems. We 

must be constantly vigilant and seek to anticipate these new methods or strategies to stay ahead of the 

next threat to financial stability and national security. 

Budget Constraints

Since 2010, the federal government has operated under multiple continuing resolutions instead of regular 

appropriations. Although the continuing resolutions allow for agencies to continue operating, they do 

so in a more restricted manner than under regular appropriations. Additionally, sequestration, which 

went into effect in 2013, reduces resources and creates management challenges for Treasury in achieving 

its goals. As strides are being made by Congress to address this situation, such as the bipartisan spending 

bill, Treasury will build on this progress by using its limited resources wisely and thoughtfully.

Setting the Stage 5
Department of the Treasury Strategic Plan FY 2014–2017

Goal 1: Promote domestic economic growth and stability

while continuing reforms of the financial system

Economic growth stimulates opportunity, mobility, and security for Americans – and allows 

citizens and businesses to have more confidence in the safety and soundness of the financial system. 

Treasury is committed to promoting these ends over the next four years.

In late 2008 and early 2009, Treasury put in place a set of emergency programs to help halt a historic 

financial crisis, restore confidence in the economy, and restart economic growth. In 2010, Congress 

passed and the President signed into law comprehensive regulatory reform to address key gaps and 

weaknesses in the financial system and to better protect consumers against fraud and abuse.1

 In the last 

four years, Treasury has led the Administration’s efforts to implement these financial reforms and bring 

stability back to the domestic economy.

Looking ahead to the next four years, we will continue our work promoting domestic stability in response 

to the financial crisis, building and strengthening domestic financial institutions and markets, and 

identifying emerging issues requiring our leadership. We will work to improve the health of the American 

workforce by promoting major initiatives that focus on job and skill creation, and growing the tax base. 

We also aim to stimulate domestic economic growth by facilitating commerce and promoting savings, 

access to credit, and affordable housing options. 

External Partners: 

•	 Financial Stability Oversight 

Council member agencies 

•	 U.S. Trade Representative 

•	 Department of Housing and 

Urban Development 

•	 Department of Education

1

1 The Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). Public Law 111-203. 

Available at http://www.gpo.gov/fdsys/pkg/PLAW-111publ203.

Goal 1: Strategic Objectives

Objective 1.1: Promote savings and increased access to 

credit and affordable housing options 

Objective 1.2: Wind down emergency financial crisis 

response programs 

Objective 1.3: Complete implementation of financial 

regulatory reform initiatives, continue monitoring capital 

markets, and address threats to stability

Objective 1.4: Facilitate commerce by providing trusted 

and secure U.S. currency, products, and services for use 

by the public

6 Goal 1
Department of the Treasury Strategic Plan FY 2014–2017

Strategic Objective 1.1 – Promote savings and increased 

access to credit and affordable housing options

Over the next four years, Treasury will work to provide tools to the American people 

to help them build a stable financial future and grow the nation’s economy. Treasury 

will endeavor to enable Americans to invest in their future – whether in higher education or in hardearned retirement. We will continue to support the Administration’s efforts to lower barriers so that 

entrepreneurs and businesses can innovate, grow, and hire. We will also continue to bolster programs that 

provide Americans with the fundamental ability to secure a place to call home, whether through renting 

or buying. We will promote housing finance reform, which would create jobs, spur growth, and provide 

revenue at the local and state level, and when financed properly, enable Americans to build assets for longterm financial security.

Strategies:

•	 Develop a sustainable housing finance system that meets the needs of a diverse population of borrowers, 

including long-term reform of the mortgage finance system and the smooth wind-down of Fannie Mae 

and Freddie Mac

•	 Develop a sustainable education finance system, including preserving access to credit for students 

seeking a college education and strengthening access to financial education and planning tools so that 

students and their families can better manage their debt load

•	 Develop new programs to help ensure Americans are better equipped for retirement, including 

supporting policies and programs to encourage retirement planning and savings, such as the 

implementation of myRA retirement savings accounts

•	 Improve the access and availability of credit needed to create small businesses and jobs by identifying 

new and enhancing existing sources for capital and federal support for investment funds

Contributing Treasury Programs:

•	 Domestic Finance [Lead Office]

•	 Economic Policy 

•	 Bureau of the Fiscal Service

•	 Community Development Financial Institutions Fund

1

Goal 1 7
Department of the Treasury Strategic Plan FY 2014–2017

Evaluating Progress:

Examples of potential measures and indicators for Strategic Objective 1.1 include:

•	 Affordable housing units created, including real estate construction and rehabilitation

•	 Loans/investments originated by Community Development Financial Institutions (CDFI) Fund 

Financial Assistance 

In addition, the CDFI Fund plans to conduct an in-depth evaluation of the extent to which the CDFI 

Fund’s investments have benefitted and contributed to the development of underserved communities.

THE DEPARTMENT OF THE TREASURY

1789

Departmental Offices 

Approximate Full-Time Employee Equivalent (FTE): 1,900

Departmental Offices (DO) is the headquarters component of the Department of the 

Treasury and is comprised of several policy and management units. It provides leadership 

in formulating domestic and international financial policy for the U.S. government, as well as 

in protecting national security through targeted financial actions.

Brief descriptions of select offices follow throughout the plan. (DO) appended to office 

name denotes a component of the Departmental Offices.

THE DEPARTMENT OF THE TREASURY

1789

Domestic Finance (DO)

The mission of the Office of Domestic Finance is to work to preserve confidence in the 

U.S. Treasury market, effectively manage federal fiscal operations, strengthen financial 

institutions and markets, promote access to credit, and improve financial access and 

education in service of America’s long-term economic strength and stability.

•	 Operates in Washington, DC under the leadership of the Under Secretary for Domestic

Finance and four assistant secretaries.

•	 In 1976, Secretary William Simon established the Assistant Secretary for Capital

Markets and Debt Management, which eventually became the Under Secretary of 

Domestic Finance.

8
Department of the Treasury Strategic Plan FY 2014–2017

Strategic Objective 1.2 – Wind down emergency financial 

crisis response programs

The programs put in place under the Troubled Asset Relief Program (TARP2), along with 

other emergency measures put into place by the Board of Governors of the Federal Reserve 

System and the Federal Deposit Insurance Corporation (FDIC), helped prevent the collapse of the U.S. 

financial system in 2008. With a stabilized national economy showing steady growth, Treasury must 

finish the course and wind down these emergency measures. We aim to wind down these programs in a 

manner that balances speed of exit with maximized taxpayer return.

Strategies:

•	 Execute the orderly wind down of the remaining crisis-era investments

•	 Maximize participation of qualified borrowers 

in the Hardest Hit Fund (HHF), Making 

Home Affordable, and Housing Finance 

Agency Programs3

•	 Preserve the institutional knowledge and 

history of the financial crisis response

Contributing Treasury Programs:

•	 Domestic Finance [Lead Office]

•	 Office of Financial Stability

Evaluating Progress:

Examples of potential measures and indicators for 

Strategic Objective 1.2 include:

•	 Percentage of total TARP funds recovered, 

which measures how much money distributed 

during the financial crisis has been returned to 

the U.S. government

1

2 About TARP. Available at http://www.treasury.gov/initiatives/financial-stability/about-tarp/Pages/default.aspx. 

3 TARP Housing Programs. Available at http://www.treasury.gov/initiatives/financial-stability/TARP-Programs/

housing/Pages/default.aspx.

9
Department of the Treasury Strategic Plan FY 2014–2017

Strategic Objective 1.3 – Complete implementation of 

financial regulatory reform initiatives, continue monitoring 

capital markets, and address threats to stability

The Dodd-Frank Act addresses key gaps and weaknesses in the financial regulatory structure 

that contributed to the financial crisis. These reforms are designed to help better protect American 

families and businesses, level the playing field, and educate and protect consumers.

As a part of the Dodd-Frank Act, several new entities were established. Among these is the Financial 

Stability Oversight Council (FSOC4

), which is chaired by the Secretary of the Treasury and brings 

together federal financial regulators, state regulators, and other financial experts to monitor and address 

threats to financial stability. The Office of Financial Research (OFR5

) sits within Treasury and provides 

the FSOC with critical data and analytical support to achieve its mission. The Federal Insurance Office 

(FIO6

), also within Treasury, monitors all aspects of the insurance industry, including identifying issues or 

gaps in the regulation of insurers that could contribute to a systemic crisis in the insurance industry or the 

U.S. financial system. 

While Treasury has made significant progress in implementing these reform initiatives, there is still work 

to do in solidifying their roles and functions within the regulatory landscape to help ensure that our 

financial system is more transparent, better capitalized, less leveraged, and far safer.

Strategies:

•	 Complete the implementation of the Dodd-Frank rules

•	 Solidify the FSOC as a central player in the coordination and evaluation of financial regulatory policy

•	 Continue building the capacity of OFR to provide empirical and analytical support to the FSOC and 

its member agencies

•	 Strengthen the FIO’s profile and reputation with domestic and international stakeholders, including 

development of strong relations with state insurance commissioners

•	 Monitor regulatory and market developments at the local, national, and international levels and work 

to mitigate potential threats to U.S. financial stability.

Contributing Treasury Programs:

•	 Domestic Finance [Lead Office]

•	 International Affairs 

•	 Economic Policy 

•	 Office of the Comptroller of the Currency 

•	 Financial Stability Oversight Council and Office of Financial Research 

1

4 Financial Stability Oversight Council. Available at http://www.treasury.gov/initiatives/fsoc/Pages/home.aspx.

5 Office of Financial Research. Available at http://www.treasury.gov/initiatives/ofr/Pages/default.aspx. 

6 Federal Insurance Office. Available at http://www.treasury.gov/initiatives/fio/Pages/default.aspx.

10
Department of the Treasury Strategic Plan FY 2014–2017

Evaluating Progress:

Examples of potential measures and indicators for Strategic Objective 1.3 include:

•	 The capitalization level of national banks and federal savings associations, which serves as an early 

warning sign to resolve the problems of insured depository institutions at the least possible cost to the 

deposit insurance fund 

•	 The number of institutions that receive the highest evaluations on the significant factors of Capital 

adequacy, Asset quality, Management, Earnings, Liquidity, and Sensitivity to market risk (CAMELS)

In addition, we plan to conduct a more qualitative assessment of the impact of Dodd-Frank rules on 

financial markets, institutions, and the broader economy.

THE DEPARTMENT OF THE TREASURY

1789

Economic Policy (DO)

The Office of Economic Policy provides technical analysis, economic forecasting, and 

policy guidance on issues relating to economic and fiscal policy. It monitors economic 

developments and trends in the United States and assists in the formulation of policies 

to stimulate economic growth and job creation. It operates in Washington, DC under the 

leadership of an assistant secretary.

TREASURY

COMPTROLLER OF THE CURRENCY

The Office of the Comptroller of the Currency

Approximate FTE: 3,820

The mission of the Office of the Comptroller of the Currency (OCC) is to ensure that 

national banks and federal savings associations operate in a safe and sound manner, provide 

equal access to financial services, treat customers fairly, and comply with applicable laws 

and regulations.

•	 Headquartered in Washington, DC, the OCC operates more than 70 field offices, including

four regional offices and one international office in London, England.

•	 The OCC was established as a bureau by Congress in 1863.

11
Department of the Treasury Strategic Plan FY 2014–2017

Strategic Objective 1.4 – Facilitate commerce by providing 

trusted and secure U.S. currency, products, and services for 

use by the public

One of Treasury’s most visible responsibilities is to reliably provide safe, secure, costeffective, and high-quality U.S. currency notes and coins that are readily accepted by all users. In addition 

to currency production, Treasury also facilitates commerce by regulating alcohol and tobacco products 

and producers to ensure that American businesses operate in a fair, competitive marketplace and provide 

complete and accurate information to consumers about alcohol products. These functions facilitate 

seamless and stable commerce, which is a necessary condition for domestic growth and stability.

Strategies:

•	 Meet demand at home and abroad for U.S. currency 

•	 Address the need for more cost-effective coinage in a way that preserves its public utility

•	 Create more accessible currency that can be easily identified by the blind and visually impaired

•	 Combat increasingly sophisticated counterfeiting with innovative currency designs and features

•	 Promote compliant alcohol and tobacco trade by coordinating with the Office of the U.S. Trade 

Representative and other federal agencies to negotiate trade agreements and respond to trade issues, and 

by participating in international regulatory and scientific organizations

•	 Ensure the integrity of alcohol products and the accuracy of label information provided to consumers 

•	 Address the diversion of alcohol and tobacco products outside of legal distribution channels to prevent 

illicit actors from profiting at the expense of lawful businesses 

Contributing Treasury Programs:

•	 Treasurer’s Office [Lead Office]

•	 Office of the Comptroller of the Currency 

•	 Alcohol and Tobacco Tax and Trade Bureau

•	 Bureau of Engraving and Printing 

•	 U.S. Mint 

1

The Alcohol and Tobacco Tax and Trade Bureau

Approximate FTE: 480

The mission of the Alcohol and Tobacco Tax and Trade Bureau (TTB) is to collect taxes on alcohol, 

tobacco, firearms, and ammunition; protect the consumer by ensuring the integrity of alcohol 

products; and prevent unfair and unlawful market activity for alcohol and tobacco products.

•	 Headquartered in Washington, DC, TTB operates 12 field offices throughout the country.

•	 TTB was created in January 2003, when the Bureau of Alcohol, Tobacco, and Firearms

was extensively reorganized under the provisions of the Homeland Security Act of 2002.

12
Department of the Treasury Strategic Plan FY 2014–2017

Evaluating Progress:

Examples of potential measures and 

indicators for Strategic Objective 1.4 

include:

•	 Manufacturing costs for currency, which 

measure how efficiently both notes and 

coins are produced 

•	 Application processing time for federal 

permits for an alcohol or tobacco business, 

in which lower processing times enable 

new businesses to begin operating as soon 

as possible 

In addition to using regularly reported performance data, Treasury plans to conduct more in-depth 

program evaluations in this area. For example, TTB has conducted a comprehensive evaluation of the 

federal alcohol beverage labeling regulations and guidance in order to modernize the regulations to reflect 

current industry practices and consumer concerns.

TREASURY

U NITED STATES M I N T

The U.S. Mint

Approximate FTE: 1,700

The primary mission of the United 

States Mint is to serve the American 

people by manufacturing and 

distributing circulating, precious 

metal, and collectible coins and 

national medals, and providing 

security over assets entrusted to the 

Mint. 

•	 Headquartered in Washington,

DC, the Mint operates five other 

locations throughout the country, 

including Philadelphia, PA, Denver, 

CO, West Point, NY, San Francisco, 

CA, and Fort Knox, KY.

•	 Established in 1792, the Mint is the

world’s largest coin manufacturer. 

Since FY 1996, the Mint has been

authorized by Congress to operate 

without an appropriation under the 

Public Enterprise Fund (PEF).

BUREAU OF ENGRAVING AND PRINT NI G

 The Bureau of Engraving

 and Printing

Approximate FTE: 1,890

The mission of the Bureau of Engraving 

& Printing (BEP) is to develop and 

produce U.S. currency notes that are 

trusted world-wide.

•	 Headquartered in Washington,

DC, the BEP operates one other 

manufacturing facility in Fort Worth, 

TX.

•	 Congress first authorized the Treasury

Department to print and issue notes in 

1862 to finance the Civil War. The B

became the exclusive printer of U.S. 

currency in 1874.

13
Department of the Treasury Strategic Plan FY 2014–2017

Goal 2: Enhance U.S. competitiveness and job creation, and promote

international financial stability and more balanced global growth

Treasury protects and supports American economic prosperity by strengthening the external 

environment for U.S. growth, preventing and mitigating global financial instability, and managing key 

global challenges. We promote policy positions, secure commitments, and negotiate agreements to 

develop existing and create new export markets for U.S. businesses and workers; manage near-term risks 

from financial instability abroad that could undermine the U.S. economy; press for market-determined 

exchange rates; boost consumption-led economic growth in surplus economies around the world; and 

assist counterparts in emerging economies in building sound financial systems free from corruption and 

economic crime.

In recent years, the economic crisis in Europe, transitions in the Middle East and North Africa, natural 

disasters that have severely impacted local economies, and other emerging global threats have all 

presented challenges to the global economy. Treasury has worked to respond to these challenges with our 

counterparts bilaterally in foreign ministries of finance and central banks as well as multilaterally through 

the Group of 20 (G-20), Financial Stability Board (FSB), international financial institutions (IFIs), 

and other forums. With the help of these partners, we seek to open new opportunities for American 

businesses and workers, level the playing field for U.S. firms doing business abroad, develop sound 

international financial regulatory standards consistent with domestic reforms, promote economic stability 

in strategically important countries, and leverage U.S. leadership positions in the IFIs to advance sound 

economic and financial policies around the world. 

External Partners: 

•	 Department of State

•	 U.S. Agency for International Development 

•	 U.S. Trade Representative 

•	 Department of Commerce

•	 International financial institutions 

•	 International Monetary Fund 

•	 World Bank Group

•	 African Development Bank Group

•	 Asian Development Bank Group

•	 European Bank for Reconstruction and 

Development 

•	 Inter-American Development Bank Group

•	 International Fund for Agricultural 

Development 

•	 North American Development Bank 

•	 Group of 20

•	 Financial Stability Board

2

Goal 2: Strategic Objectives

Objective 2.1: Promote free trade, 

open markets, and foreign investment 

opportunities

Objective 2.2: Protect global economic 

and financial stability and press for 

market-determined foreign exchange rates

Objective 2.3: Advance U.S. economic, 

financial, and national security goals by 

leveraging multilateral mechanisms

Objective 2.4: Provide technical 

assistance to developing countries 

working to improve public financial 

management and strengthen their 

financial systems

14 Goal 2
Department of the Treasury Strategic Plan FY 2014–2017

Strategic Objective 2.1 – Promote free trade, open markets, 

and foreign investment opportunities

Foreign investment in the U.S. economy is vital to achieving balanced economic growth 

and creating jobs. Treasury works with the U.S. Trade Representative and other federal 

agency partners to pursue a strong international trade and investment agenda that will increase U.S. 

exports, help the U.S. economy grow, and support job creation. 

As Chair of the Committee on Foreign Investment in the United States (CFIUS7

), we coordinate an 

interagency process to review certain foreign investments for potential national security concerns. Our 

work to help ensure a timely and efficient review process serves the dual purpose of helping to secure the 

United States while maintaining an open investment climate.

Strategies:

•	 Support negotiations of free trade agreements to level the playing field for U.S. firms doing business in 

key economic hubs such as the Asia-Pacific region and the European Union 

•	 Reduce and eliminate barriers to market access for U.S. products and services by pursuing agreements 

like a U.S.-China Bilateral Investment Treaty and securing commitments through bilateral engagements 

like the U.S.-India Economic and Financial Partnership and the U.S.-China Strategic & Economic 

Dialogue

•	 Negotiate tax treaties

•	 Complete timely reviews of potential foreign investments for national security risks

•	 Cultivate new markets for U.S. exporters through multilateral development bank investments and 

private sector development in Africa, Asia, South America, and the Caribbean

Contributing Treasury Programs:

•	 International Affairs [Lead Office]

•	 Tax Policy 

•	 Economic Policy 

Evaluating Progress:

Examples of potential measures and indicators for Strategic Objective 2.1 include:

•	 Timely national security reviews completed by CFIUS

2

7 The Committee on Foreign Investment in the United States (CFIUS). Available at http://www.treasury.gov/

resource-center/international/Pages/Committee-on-Foreign-Investment-in-US.aspx.

Goal 2 15
Department of the Treasury Strategic Plan FY 2014–2017

Strategic Objective 2.2 – Protect global economic and 

financial stability and press for market–determined foreign 

exchange rates

Treasury maintains close dialogues with its bilateral and multilateral counterparts to 

monitor and respond to evolving risks in the global economic and financial systems and to promote 

policies conducive to domestic growth. Acting primarily through the FSB and at the G-20, Treasury 

encourages other countries to implement financial sector reforms consistent with the Dodd-Frank Act, 

to decrease the risk of regulatory arbitrage to the global financial system as well as avoid a comparatively 

heightened regulatory burden for U.S. firms. Treasury also works with international partners and through 

the International Monetary Fund (IMF) to press for market-determined exchange rates – the price at 

which one country’s currency can be exchanged for another’s absent intervention by a government to 

influence the price of its currency – to prevent destabilizing effects on economies such as competitive 

devaluations of currencies.

Finally, Treasury works to implement economic policies consistent with the overarching goal of strong, 

sustainable, and balanced global growth. Our efforts toward this overarching goal include working to 

rebalance global demand so that economies that have been heavily reliant on export-oriented growth 

generate more domestic demand-led growth, making them less dependent on the United States as an 

export market.

Strategies:

•	 Monitor and report on the international economic and exchange rate policies of the United States’ 

major trading partners

•	 Leverage the United States’ leadership position at the IMF to advance efficient and effective approaches 

to securing international financial stability and global monetary cooperation 

•	 Continue to promote sound macroeconomic policies and a job creation agenda at the Group of 7 (G-7) 

and G-20

•	 Actively represent the United States on the FSB, including efforts regarding global supervisory and 

regulatory cooperation, implementation of financial standards, and development of cross-border 

resolution systems and derivatives reforms

2

THE DEPARTMENT OF THE TREASURY

1789

International Affairs (DO)

The mission of the Office of International Affairs (IA) is to help ensure the most favorable 

external environment for sustained jobs and economic growth in the United States. To that 

end, IA works to promote U.S. economic and financial policy priorities such as free trade 

and open markets.

•	 Operates in Washington, DC under the leadership of the Under Secretary of International

Affairs and two assistant secretaries.

•	 Supports Treasury financial attachés posted throughout the world.

16
Department of the Treasury Strategic Plan FY 2014–2017

Contributing Treasury Programs:

•	 International Affairs [Lead Office]

Evaluating Progress:

Examples of potential measures and indicators include:

•	 Completed reviews of IMF country programs quality and effectiveness

•	 Analysis of exchange rate policies and currency trends of major U.S. trading partners, as reported in the 

semi-annual reports to Congress on International Economic and Exchange Rate Policies8

8 Semiannual Report on International Economic and Exchange Rate Policies. Available at http://www.treasury.

gov/resource-center/international/exchange-rate-policies/Pages/index.aspx.

17
Department of the Treasury Strategic Plan FY 2014–2017

Strategic Objective 2.3 – Advance U.S. economic, financial, 

and national security goals by leveraging multilateral 

mechanisms

An increasingly interconnected and 

interdependent global economy creates new opportunities 

as well as new challenges. The United States can 

better develop these opportunities and manage these 

challenges when there is a diverse set of tools available 

to public actors. Treasury participates in a wide range 

of multilateral mechanisms that complement ongoing 

bilateral engagements. These international multilateral 

institutions and processes reduce the burden on individual 

countries like the United States by pooling the resources 

and knowledge of groups of like-minded nations. 

Treasury is the executive agency responsible for managing 

the U.S. government’s interests in IFIs. We work to use 

our nation’s leadership role to mitigate emerging threats 

to the U.S. and global economies, as well as reinforce 

national security interests in key countries around the 

world. The IMF helps protect global economic and 

financial stability and encourage market-determined 

exchange rates. The multilateral development banks 

(MDBs) – including the World Bank, the Asian 

Development Bank, the African Development Bank, the 

European Bank of Reconstruction and Development, and the Inter-American Development Bank – 

aim to promote economic growth, reduce poverty, and support international trade and investment. 

Arrangements like the Climate Investment Funds, the Global Agriculture and Food Security Program, the 

Deauville Partnership with Arab Countries in Transition, the Paris Club, and the FSB provide Treasury 

with flexible vehicles to address emerging global challenges and assist strategically important countries. 

On behalf of the United States, we promote economic and financial policy solutions to the nation’s most 

pressing problems through the G-7 and G-20 processes. 

Strategies:

•	 Maintain U.S. leadership in key institutions and arrangements

•	 Build consensus among shareholders on key IFI reforms 

•	 Advance effective use of IMF and MDB resources through results measurements 

•	 Support ongoing and planned MDB development efforts that reinforce U.S. objectives

•	 Promote private sector development solutions like public-private partnerships 

•	 Advocate innovative financial approaches to promoting political stability and economic growth in key 

strategic regions, including loan guarantees and debt forgiveness

2

18
19

Department of the Treasury Strategic Plan FY 2014–2017

Contributing Treasury Programs:

•	 International Affairs [Lead Office]

•	 Terrorism and Financial Intelligence 

Evaluating Progress:

Examples of potential measures and indicators for Strategic Objective 2.3 include:

•	 MDB grant and loan project proposals that contain a satisfactory framework for measuring project 

results per Treasury review

•	 Assessment of major policies and operations of IFIs – including lending levels and activities in the 

poorest nations – through the National Advisory Council on International Monetary and Financial 

Policies Annual Report
Department of the Treasury Strategic Plan FY 2014–2017

Strategic Objective 2.4 – Provide technical assistance to 

developing countries working to improve public financial 

management and strengthen their financial systems

Treasury’s Office of Technical Assistance directly assists developing countries that have 

demonstrated strong commitments to reforming their public financial management or financial systems. 

Technical Assistance Advisors work directly with 

finance ministries and central banks in developing 

countries worldwide to strengthen their capacity to 

manage public finances through efficient revenue 

collection, well-planned and executed budgets, 

judicious debt management, fundamentally 

sound banking systems, and strong controls to 

combat corruption and economic crimes. This 

work encourages prosperity and stability in other 

parts of the world and supports broader U.S. 

government international objectives – such as 

increasing transparency and accountability, reducing 

corruption, and strengthening the development of 

market-based policies and practice – while helping 

to create more stable international markets for U.S. 

exports.

Strategies:

•	 Continue to focus on core technical assistance 

areas: revenue policy and administration; budget and financial accountability; government debt issuance 

and management; banking and financial services; and economic crimes

•	 Leverage other programmatic efforts within Treasury to develop technical assistance projects that 

include infrastructure finance, increased access to financial services, and better management of revenues 

derived from extractive industries, such as the oil and gas sectors

Contributing Treasury Programs:

•	 International Affairs [Lead Office]

Evaluating Progress:

Examples of potential measures and indicators for Strategic Objective 2.4 include:

•	 How well technical assistance projects achieve the goal(s) of the project and address the country 

problems described

•	 The extent to which a technical assistance project brings about changes in behavior among the project 

counterparts and other country participants

2

20
Department of the Treasury Strategic Plan FY 2014–2017

Goal 3: Fairly and effectively reform and modernize federal

financial management, accounting, and tax systems

Treasury is entrusted with managing the nation’s finances. This includes collecting money 

due to the United States, making payments owed by the United States, and financing the federal 

government by determining 

and executing a borrowing 

strategy that meets the federal 

government’s needs at the lowest 

cost over time. It also includes 

accounting for, and reporting on, 

the U.S. government’s finances 

to the American people. Sound 

financial management enables 

continual operation of essential 

government services and allows 

Treasury to meet its financial 

obligations while minimizing 

borrowing costs.

The last few years have proved 

challenging to the effective 

management and modernization of government operations. The uncertainty stemming from continuing 

resolutions, the across-the-board spending cuts brought on by sequestration, and potential or actual lapses 

in appropriations has disrupted operations and hampered performance. 

However, we are resolute in pursuing progress in improving financial management, despite resource 

constraints and competing priorities that reduce the abilities of our federal agency partners to focus on 

moving to a more efficient model. In an effort to keep pace with technological advances that can help 

produce significant savings, we are committed to modernizing both our financial systems and accounting 

practices so that the U.S. has a more efficient, accountable, and transparent government.

External Partners: 

•	 All executive agencies

•	 United States 

Congress

3

Goal 3: Strategic Objectives

Objective 3.1: Improve the efficiency and transparency 

of federal financial management and government-wide 

accounting 

Objective 3.2: Improve the disbursement and collection 

of federal funds and reduce improper payments made by 

the U.S. government

Objective 3.3: Pursue tax reform, implement the Patient 

Protection and Affordable Care Act and Foreign Account 

Tax Compliance Act, and improve the execution of the 

tax code

Goal 3 21
Department of the Treasury Strategic Plan FY 2014–2017

Strategic Objective 3.1 – Improve the efficiency and 

transparency of federal financial management and 

government–wide accounting

Treasury operates and oversees the government’s central financial accounting and reporting 

system. This role is critical to the proper management of the nation’s finances, as well as to ensuring 

public confidence in the U.S. government. In this role, 

Treasury collects, analyzes, and publishes government–

wide financial information used by the federal 

government to establish fiscal and debt management 

policies. The public and private sectors also use this 

to monitor the government’s financial status, which in 

turn informs their business decisions. 

The federal government currently operates under 

multiple financial systems and accounting practices, 

leading in some cases to challenges in communication 

and coordination. We have committed to working 

with federal agency partners over the next four years to 

transform government financial management through 

shared services, data transparency, and standardization, 

where practical. 

Strategies:

•	 Implement the shared-service model for financial management across government 

•	 Promote the use of an e-invoicing solution throughout the federal acquisition and financial 

management communities

•	 Reduce the number of different financial systems throughout the government, including systems for 

financial accounting, electronic invoicing, and accounts receivable processing

•	 Adopt uniform accounting, reporting, and data standards and systems

•	 Produce timely and accurate financial information that contributes to the improved quality of financial 

decision-making

•	 Provide support, guidance, and training to assist federal program agencies in improving their 

government-wide accounting and reporting responsibilities

Contributing Treasury Programs:

•	 Bureau of the Fiscal Service [Lead Office]

•	 Domestic Finance

3

22 Goal 3
Department of the Treasury Strategic Plan FY 2014–2017

Evaluating Progress:

Examples of potential measures and indicators for Strategic Objective 3.1 include:

•	 Cost per Government Agency Investment Services (GAIS) transaction, which measures how efficiently 

Treasury manages specialized government investment and borrowing opportunities

•	 Cost per summary debt accounting transaction, which measures how efficiently Treasury accounts for 

the public debt

In addition, the Do Not Pay program is planning to examine how to proactively identify, mitigate, and 

prevent fraud, waste, and abuse in federally funded programs.

The Bureau of the Fiscal Service

Approximate FTE: 3,350

The mission of the Bureau of the Fiscal Service is to promote the financial integrity and 

operational efficiency of the U.S. government through exceptional accounting, financing, 

collections, payments, and shared services.

•	 Headquartered in Washington, DC, the Bureau of Fiscal Service operates five field offices

throughout the country.

•	 Established by Treasury Order in 2012, it consolidates the Bureau of the Public Debt

(BPD) and the Financial Management Service (FMS).

23
Department of the Treasury Strategic Plan FY 2014–2017

Strategic Objective 3.2 – Improve the disbursement and 

collection of federal funds and reduce improper payments 

made by the U.S. government

Treasury forecasts the federal government’s fiscal needs; collects money due to the U.S., 

including delinquent debt and federal revenues such as taxes, duties, loan repayments, and fines; and 

disburses payments owed by the U.S. government, including interest payments, Social Security, and 

Medicare benefits. In this role, Treasury executes billions of transactions each year. The safety, security, 

efficiency, and reliability of Treasury transactions are paramount to maintaining public trust and 

improving the management of the nation’s finances. 

Over the next four years, we aim to maintain exceptional daily operations for government collections, 

payments, debt collection, and financing as well as reduce improper payments made by the U.S. 

government.

Strategies:

•	 Provide timely, accurate, and efficient collection of federal government receipts

•	 Establish and implement collection policies, regulations, standards, and procedures for the federal 

government 

•	 Implement initiatives to further increase the adoption of electronic transactions

Contributing Treasury Programs: 

•	 Bureau of the Fiscal Service [Lead 

Office]

•	 Domestic Finance 

Evaluating Progress:

Examples of potential measures and 

indicators for Strategic Objective 3.2 

include:

•	 Treasury payments and associated 

information made electronically 

•	 Total dollar amount of federal 

government receipts collected 

electronically 

3

24
Department of the Treasury Strategic Plan FY 2014–2017

Strategic Objective 3.3 – Pursue tax reform, implement the 

Patient Protection and Affordable Care Act and Foreign 

Account Tax Compliance Act, and improve the execution of 

the tax code

Treasury’s largest bureau, the Internal Revenue Service (IRS), touches every American in its efforts to 

collect taxes fairly and effectively. TTB also has revenue collection responsibilities related exclusively 

to federal excise taxes on alcohol, tobacco, firearms, and ammunition. Treasury also leads the 

Administration’s efforts to create a tax system that is simple, fair, and fiscally responsible. Treasury’s Office 

of Tax Policy works with the White House and Congress to develop tax reform proposals to achieve 

this objective. We are committed to working with Congress in pursuing a tax reform plan that includes 

a balanced approach to deficit reduction that strengthens the U.S. government’s fiscal position and 

promotes a simpler, more efficient tax code.

While protecting taxpayer rights and minimizing administrative burden, we are working to become a 

more agile and customer-oriented organization by making greater use of new technologies to facilitate 

voluntary tax compliance. As new laws are enacted that impact the tax code, such as the Patient 

Protection and Affordable Care Act (ACA) and the Foreign Account Tax Compliance Act (FATCA), we 

will continue to provide clear and timely guidance to taxpayers.

IRS has a renewed commitment to creating an organizational culture where internal controls are 

consistently reviewed for effectiveness and where emerging risks are identified, openly discussed, and 

swiftly addressed. In the coming years, the IRS also aims to increase outreach to and collaboration with 

all tax practitioners, tax preparers, and other third parties in the tax system to make it as easy as possible 

for them to adhere to professional standards and follow the tax code. 

Strategies:

•	 Develop comprehensive proposals to reform and simplify the tax code

•	 Develop tax legislative proposals for the annual budget that advance tax code reforms

•	 Provide taxpayers with targeted, timely guidance and outreach 

•	 Incorporate taxpayer perspectives to improve all service interactions

•	 Strengthen partnerships with tax practitioners, tax preparers, and other third parties to ensure effective 

tax administration

•	 Develop and publish guidance on tax provisions of the ACA, including tax credits, revenue provisions, 

and insurance market reforms

•	 Strengthen refund fraud prevention through advancements in automation and provide prompt 

assistance to support victims of identity theft

•	 Expand enforcement approaches and tools to meet the challenges of international tax administration

3

25
Department of the Treasury Strategic Plan FY 2014–2017

•	Contributing Treasury Programs:

•	 Internal Revenue Service [Lead Office]

•	 Tax Policy 

•	 Alcohol and Tobacco Tax and Trade Bureau 

Evaluating Progress:

Examples of potential measures and indicators for Strategic Objective 3.3 include:

•	 Individual tax returns processed electronically 

•	 Voluntary and timely compliance from taxpayers who file more than $50,000 in tax payments annually 

In addition, Treasury plans to conduct more in-depth evaluations in the area of programs supporting 

Strategic Objective 3.3. For example, the IRS Joint Statistical Research Program (JSRP) uses statistics of 

income tax data to study the effects of existing tax policies on individuals, businesses, and the economy. 

Also, TTB will continue to improve efficiencies and results in its tax enforcement program by improving 

its systems and processes related to tax verification, increasing automation in the detection, notification, 

assessment, and collection of excise taxes in order focus its resources on substantive tax analysis and 

enforcement.

TREASURY

I NTERNAL REV E N U E SERVICE

The Internal Revenue Service

Approximate FTE: 87,760

The mission of the Internal Revenue Service (IRS), the largest of Treasury’s bureaus, is to 

provide America’s taxpayers top-quality service by helping them to understand and meet their 

tax responsibilities, as well as to enforce the law with integrity and fairness to all.

•	 Headquartered in Washington, DC, the IRS operates more than 600 field offices throughout

the country.

•	 The IRS was first established by Congress in 1862 to help finance the Civil War; it was

renamed from the Bureau of Internal Revenue to the Internal Revenue Service in 1953

and extensively reorganized by Congress in 1998 around a private sector model of

customer service.

THE DEPARTMENT OF THE TREASURY

1789

Tax Policy (DO)

The Office of Tax Policy’s mission is to serve the American public by promoting effective and 

efficient tax policies and programs through guidance interpreting the Internal Revenue Code, 

economic and legal analysis to support fiscal policy-making, and international collaboration on 

important tax matters.

•	 Operates in Washington, DC under the leadership of an assistant secretary.

•	 Secretary Henry Morgenthau established the Division of Tax Research in 1938, which would

eventually become the Office of Tax Analysis. In 1961, Stanley Surrey became the fir

Assistant Secretary (Tax Policy).

26
Department of the Treasury Strategic Plan FY 2014–2017

Goal 4: Safeguard the financial system and use financial measures

to counter national security threats

Treasury works to protect the integrity of the financial system and advance key national 

security and foreign policy objectives through regulation, enforcement, financial intelligence analysis, 

outreach, and targeted financial measures. We carry out this work with other U.S. federal agencies, state 

and local governments and regulators, foreign governments, international bodies, and private financial 

institutions around the world.

The objectives for this goal are necessary if we are to continue to keep this nation and its people safe. We 

will look for opportunities to aid the President’s foreign policy agenda and develop creative alternatives to 

military action where possible – including identifying and targeting key national security threats that can 

be disrupted with financial measures and targeted actions. We will employ such measures as sanctions 

and other financial regulations to disable threats to the U.S. and international financial systems. We are 

also committed to working with industry to improve the technological infrastructure required to protect 

against cybersecurity threats. 

External Partners: 

•	 U.S. intelligence community

•	 Department of Justice 

•	 Department of State

•	 State and local law enforcement

•	 U.S. financial regulators

•	 Private industry

4

Goal 4: Strategic Objectives

Objective 4.1: Identify priority threats to 

the financial system using intelligence 

analysis and outreach to the financial 

sector 

Objective 4.2: Develop, implement, and 

enforce sanctions and other targeted 

financial measures

Objective 4.3: Improve the cybersecurity of 

our nation’s financial sector

Objective 4.4: Protect the integrity of 

the financial system by implementing, 

promoting, and enforcing anti-money 

laundering and counterterrorism financing 

standards 

Goal 4 27
Department of the Treasury Strategic Plan FY 2014–2017

Strategic Objective 4.1 – Identify priority threats to the 

financial system using intelligence analysis and outreach to 

the financial sector 

Treasury’s Office of Terrorism and Financial Intelligence (TFI) forms the vanguard of 

protecting the nation’s finances against illicit actors. Using intelligence from all sources, Treasury works to 

identify financial activity associated 

with actors, operations, or systems 

that threaten the national security 

or financial sector of the United 

States. Partnering with other parts 

of the government, we aim to 

detect, deter, and deny resources 

to these threats, particularly 

through the administration of 

sanctions. The sanctions programs 

administered by TFI’s Office of 

Foreign Assets Control (OFAC) 

seek to disrupt the financial 

and commercial networks of 

terrorists, narcotics traffickers, and 

proliferators of weapons of mass 

destruction, among others. We 

help degrade these networks by 

publicly identifying the leadership, 

participants, and network of illicit 

organizations, and denying them access to the U.S. financial system and market place. 

Strategies:

•	 Conduct outreach to the financial community and other key industry actors to help ensure compliance 

with sanctions and to identify threats to the financial system

•	 Provide timely, accurate, and focused intelligence support to critical decision-makers and partners on 

the full range of economic, political, and security issues 

•	 Implement and manage programs to effectively network, coordinate, and share financial intelligence 

between FinCEN and its domestic and foreign partners in government and private industry

•	 Develop and support effective technology systems to collect financial intelligence from private industry 

and share it with domestic and foreign government partners

Contributing Treasury Programs:

•	 Terrorism and Financial Intelligence [Lead Office]

•	 Financial Crimes Enforcement Network

4

28 Goal 4
Department of the Treasury Strategic Plan FY 2014–2017

Evaluating Progress:

Examples of potential measures and indicators for Strategic Objective 4.1 include:

•	 Level of contribution of OIA and FinCEN research, analysis, and advanced analytics to the 

safeguarding of the financial system, combating money laundering, and countering terrorist financing

•	 User satisfaction with FinCEN information sharing (technology) systems

THE DEPARTMENT OF THE TREASURY

1789

Terrorism and Financial Intelligence (DO)

The mission of the Office of Terrorism and Financial Intelligence (TFI) is to marshal the 

Department’s intelligence and enforcement functions with the twin aims of safeguarding 

the financial system against illicit use and combating rogue nations, terrorist facilitators, 

weapons of mass destruction (WMD) proliferators, money launderers, drug kingpins, and 

other national security threats. 

•	 Operates in Washington, DC under the leadership of the Under Secretary of TFI and two

assistant secretaries.

•	 In 2004, Congress combined preexisting and newly created units to form TFI.

29
Department of the Treasury Strategic Plan FY 2014–2017

Strategic Objective 4.2 – Develop, implement, and enforce 

sanctions and other targeted financial measures

Treasury works with other 

agencies to identify and limit or 

deny financial services to, and target the assets 

of, those individuals and organizations who are 

known to be taking actions against the United 

States or are aiding such people. 

Treasury has the authority to employ powerful 

tools that can cut off the money supply and 

trade conduits of illicit actors and organizations. 

Sanctions administered by OFAC, and other 

targeted financial measures administered by 

FinCEN, have proven to be effective and 

successful tools. By strategically using these 

tools, we seek to cripple these actors’ ability to 

do harm. The economic sanctions programs 

have become increasingly sophisticated as 

financial networks have grown and non-state 

actors have begun projecting their power 

globally. Through these sanctions, OFAC 

continues to greatly limit the financial 

capabilities of illicit actors. Moreover, targeted financial measures such as sanctions offer U.S. policymakers 

affirmative foreign policy options beyond diplomatic approaches alone to handle threats to the national 

security or foreign policy of the United States. Treasury also seizes assets forfeited from criminal activities 

and administers the forfeited funds in furtherance of law enforcement and protection activities.9

Strategies:

•	 Develop targeted financial sanctions and other measures to disrupt the financial and commercial 

networks of terrorists, narcotics traffickers, proliferators of weapons of mass destruction, and others 

engaged in activities that threaten the U.S. national security, foreign policy, or economy 

•	 Research, investigate, and designate individuals and entities pursuant to each U.S. sanction regime

•	 Levy civil penalties against those who violate U.S. sanctions

•	 Work with countries bilaterally and multilaterally to foster the political will necessary to implement 

international counterterrorist financing safeguards 

•	 Share information with partner countries to facilitate their implementation of financial sanctions 

against targets of U.S. and international sanctions programs 

4

9 Treasury Executive Office for Asset Forfeiture. Available at http://www.treasury.gov/about/organizationalstructure/offices/Pages/The-Executive-Office-for-Asset-Forfeiture.aspx. 

30
Department of the Treasury Strategic Plan FY 2014–2017

Contributing Treasury Programs:

•	 Terrorism and Financial Intelligence [Lead Office]

•	 Financial Crimes Enforcement Network

•	 Treasury Executive Office for Asset Forfeiture

Evaluating Progress:

Examples of potential measures and indicators for Strategic Objective 4.2 include:

•	 Denying illicit actors access to the financial system or disrupting their networks using targeted financial 

measures

•	 Specially Designated Nationals List de-listings as a measure of changed behavior

FINANCIAL CRIMES

ENFORCEM ENT NETWORK

The Financial Crimes Enforcement Network

Approximate FTE: 300

The mission of the Financial Crimes Enforcement Network (FinCEN) is to safeguard the 

financial system from illicit use and combat money laundering and promote national 

security through the collection, analysis, and dissemination of financial intelligence and 

strategic use of financial authorities. 

•	 Headquartered in Washington, DC, FinCEN operates one field office in Vienna, VA.

•	 FinCEN was established in 1990 by order of the Secretary of the Treasury and made an

official Bureau in 2002.

31
Department of the Treasury Strategic Plan FY 2014–2017

Strategic Objective 4.3 – Improve the cybersecurity of our 

nation’s financial sector

The financial systems of the U.S. and the world are in need of greater protection from 

attacks on their information technology infrastructure. In an age of rapidly advancing 

technology, Treasury recognizes the need to collaborate with industry to develop protections that can 

deter attacks on the nation’s critical networks. Working with a combination of international and domestic 

government, non-government, and private sector partners, we will continue to improve the protection 

and resilience of financial sector critical infrastructure, including federal financial information and private 

financial infrastructure, against cyber and physical attacks. 

Strategies:

•	 Develop and coordinate efficient processes to share and disseminate actionable threat information with 

the financial sector

•	 Strengthen public-private information-sharing programs with the financial sector

•	 Collaborate with financial industry partners to develop policies for government and private sector 

infrastructure protection requirements and standards

•	 Research and partner with domestic and international government and private sector cybersecurity 

organizations to identify advancements in technology (hardware and software), in combatting 

individual and organized cyber-criminals

•	 Track and target cyber threats to help protect the financial system from cyber-attacks 

•	 Conduct regular interagency readiness reviews to help ensure that federal government is well-prepared 

to respond to physical and cyber threats to critical infrastructure

•	 Increase outreach to the financial sector to ensure that financial institutions acting in the cyber sphere 

have effective sanctions compliance practices in place 

Contributing Treasury Programs:

•	 Domestic Finance [Lead Office]

•	 Terrorism and Financial Intelligence

•	 Office of the Comptroller of the Currency

Evaluating Progress:

Examples of potential measures and indicators for Strategic Objective 4.3 include:

•	 Cybersecurity indicators such as threats and attacks identified and mitigated

•	 Numbers of outreach activities conducted with the financial sector

4

32
Department of the Treasury Strategic Plan FY 2014–2017

Strategic Objective 4.4 – Protect the integrity of the 

financial system by implementing, promoting, and 

enforcing anti–money laundering and counterterrorism 

financing standards

Safeguarding the financial system from illicit financial transactions takes rigorous regulation and 

enforcement as well as collaboration with local, state, federal, and international law enforcement. 

Treasury plans to continue to engage with the domestic financial sector (including through the Bank 

Secrecy Act Advisory Group), and the international financial sector (including through targeted outreach 

to foreign financial institutions and bankers’ associations), to better understand the illicit finance risks in 

the international financial system. TFI currently leads an interagency project to assess domestic money 

laundering and terrorist financing risks. Participating departments include the Department of Justice 

and the financial regulatory and law enforcement agencies. The project team is developing a fact-based 

assessment of money laundering and terrorist financing methods and the initiatives underway to interdict 

that activity.

Strategies:

•	 Adopt strong anti-money laundering and counterterrorism financing (AML/CFT) regulatory safeguards 

•	 Implement and enforce anti-money laundering and counterterrorism financing regulatory authorities 

•	 Promote the development and universal adoption and implementation of strong international systemic 

safeguards to combat money laundering, terrorist financing, and other forms of illicit finance through 

organizations such as the Financial Action Task Force (FATF)

•	 Develop, coordinate, and implement AML/CFT policies and coalition-building to counter financial 

aspects of national security threats

Contributing Treasury Programs:

•	 Terrorism and Financial Intelligence [Lead Office] 

•	 Office of the Comptroller of the Currency

•	 Financial Crimes Enforcement Network 

Evaluating Progress:

Examples of potential measures and indicators for Strategic Objective 4.4 include:

•	 Compliance by covered financial institutions, as reported by anti-money laundering and counter 

terrorist financing supervisors

•	 Engagements with foreign governments on strengthening AML/CFT controls

4

33
Department of the Treasury Strategic Plan FY 2014–2017

Goal 5: Create a 21st–century approach to government by

improving efficiency, effectiveness, and customer interaction 

Treasury’s future success, both immediate and long term, depends on sustaining and 

developing the resources required to achieve our operational mission. We will capitalize on 21st century 

advances in knowledge, techniques, and technology to manage our resources as effectively and efficiently 

as possible, creating the best value for all constituents. 

Treasury’s critical resources are finances, physical assets, technology, and, most importantly, people. We 

will invest in people by providing them purpose, motivation, support, and a fair and inclusive work 

environment in which every individual can excel. We will also take full advantage of information 

technology to maximize the use and sharing of data to enhance sound decision-making. We will 

maximize opportunities to improve our stewardship in acquiring and using goods and services. Overall, 

we will produce the best value for all of our customers and the American people. 

Achieving these objectives will demand a concerted commitment on the part of everyone in Treasury to 

continuous improvement in skills, learning, processes, attitudes, and organizational culture.

External Partners: 

•	 Office of Personnel Management 

•	 Office of Management and Budget 

•	 Performance Improvement Council 

•	 National Continuity Program

•	 All executive agencies

•	 Partnership for Public Service

5

Goal 5: Strategic Objectives

Objective 5.1: Increase workforce engagement, 

performance, and diversity by instilling 

excellence, innovation, and inclusion in Treasury’s 

organizational culture and business practices

Objective 5.2: Support effective, data-driven 

decision-making and encourage transparency 

through intelligent gathering, analysis, sharing, 

use, and dissemination of information 

Objective 5.3: Promote efficient use of resources 

through shared services, strategic sourcing, 

streamlined business processes, and accountability

Objective 5.4: Create a culture of service through 

relentless pursuit of customer value

34 Goal 5
Department of the Treasury Strategic Plan FY 2014–2017

Strategic Objective 5.1 – Increase workforce engagement, 

performance, and diversity by instilling excellence, 

innovation, and inclusion in Treasury’s organizational culture 

and business practices

People are the source of excellence and innovation in any enterprise. Treasury aims to create and 

sustain a high-performing and inclusive organizational culture that celebrates shared values and diverse 

contributions so that all employees will be inspired and motivated to do their best in service to the 

American people. Treasury leaders and managers will communicate mission goals and priorities, provide 

the necessary resources and developmental opportunities, and recognize accomplishments enabling 

Treasury employees to align their efforts to departmental goals and produce high quality results by 

working collaboratively, effectively, and efficiently.

Treasury will inspire excellence by supporting individual and organizational growth through continuous 

learning and improvement. We will cultivate an inclusive workplace by supporting equal opportunity and 

diversity – and by offering work life options that enable employees to contribute to Treasury’s mission. 

Strategies:10

•	 Reinforce a performance and recognition culture, setting clear individual performance expectations 

aligned to organizational performance 

•	 Implement performance management processes that encourage individuals to achieve their 

commitments and that drive organizations to achieve successful outcomes

•	 Facilitate greater understanding of employee responsibilities and generate mutual trust through the 

implementation of a Treasury-wide program on detecting, preventing, and mitigating insider threats

•	 Conduct multi-tiered diversity and inclusion programs and training to foster an environment that 

values the individual and the team

•	 Create a leadership management system that includes building a community of enterprise leaders with 

succession and retention programs and plans, and identifying a talent pipeline

•	 Engage new employees early to teach them about Treasury’s mission and culture and to enable their 

successful integration 

Contributing Treasury Programs:

•	 Management [Lead Office]

•	 All Treasury bureaus and policy offices

5

10 These strategies are supported by Treasury’s FY 2014–2017 Human Capital Strategic Plan, which more fully 

discusses Treasury’s plans to achieve this objective.

Goal 5 35
Department of the Treasury Strategic Plan FY 2014–2017

Evaluating Progress:

Examples of potential measures and indicators for Strategic Objective 5.1 include:

•	 Treasury-wide results-oriented performance scores, such as the Federal Employee Viewpoint Survey and 

diversity metrics

•	 Operational measures, such as the time it takes to hire employees and complete manager training 

In addition, Management is currently evaluating the state of leadership development and support systems 

within Treasury.

THE DEPARTMENT OF THE TREASURY

1789

The Office of Management (DO)

The Office of Management’s mission is to provide effective and efficient management of 

the Department’s resources. Management is responsible for the Department’s internal 

management and policy for budget, planning, human resources, information and technology 

management, financial management and accounting, procurement, privacy, records, and 

administrative services to Departmental Offices.

•	 Operates in Washington, DC under the leadership of an assistant secretary.

•	 In 1963, the Office of Budget and Finance was established, a precursor to the Office of

Management.

36
Department of the Treasury Strategic Plan FY 2014–2017

Strategic Objective 5.2 – Support effective,

data-driven decision-making and encourage transparency 

through intelligent gathering, analysis, sharing, use, and 

dissemination of information 

Decision-makers are most effective when information and data are readily available to help them 

understand the issues at hand and weigh the available options. We will encourage government-wide 

access to information unique to Treasury to facilitate increased use of evidence and evaluation in decisionmaking. By better leveraging the use of existing data across government (with the requisite controls in 

place for privacy and other considerations), Treasury can encourage better data-based decision-making 

and enable effective risk analysis, enhancing organizational resilience and risk management. Equally 

important, employees must be equipped with the skills and capabilities to analyze and consume data.

Strategies:

•	 Implement an organizational performance management system and process that draws clear links from 

strategy and priorities to organizational performance, supported by data 

•	 Use performance information and data as the basis for budget decisions

•	 Create and support more and better evidence and evaluation programs at the bureaus and policy offices

•	 Create mechanisms for more effective information sharing within Treasury and with its inter-agency 

partners, including creating standards and ensuring the quality of corporate data

•	 Support employees in developing analytical skills

•	 Create, automate, and institutionalize (where possible) systems that link all financial data and 

operations/management data

•	 Collect, report, and responsibly share information related to the national security, foreign policy, or 

economy of the U.S. that is held by Treasury personnel through the strategic debriefing and reporting 

program

•	 Develop and institutionalize effective contingency plans for potential disruptions to normal operations, 

including early detection and notification capabilities

Contributing Treasury Programs:

•	 Management [Lead Office]

•	 All Treasury bureaus and policy offices 

5

37
Department of the Treasury Strategic Plan FY 2014–2017

Evaluating Progress:

Examples of potential measures and indicators for Strategic Objective 5.2 include:

•	 Accessibility of information to the public, including timely responses to request for information

•	 Impact measures such as the effectiveness of Treasury’s Quarterly Performance Reviews, which are used 

to manage progress towards agency goals and drive effective decision-making

38
Department of the Treasury Strategic Plan FY 2014–2017

Strategic Objective 5.3 – Promote efficient use of resources 

through shared services, strategic sourcing, streamlined 

business processes, and accountability

Treasury will continue to focus on achieving cost savings for the American people, 

modernizing operations, and increasing productivity by governing strategically, working smarter, and 

leveraging technology. Increasing the use of shared services and better leveraging strategic sourcing plays 

a big role in working smarter and governing strategically. Treasury’s “shared services first” approach 

has enabled us to manage across organizational boundaries, which has helped improve operational 

effectiveness and coordination across the Department. We aim to expand shared information technology 

platforms to decrease cost per capita and increase the efficiency and effectiveness of commodity functions.

Strategies:

•	 Promote the use of shared services throughout the federal government, particularly in administrative 

areas such as financial management and human capital 

•	 Push strategic sourcing and procurement reform across Treasury and the federal government

•	 Standardize and consolidate systems for management functions including governance of major 

investments, Interagency Agreements, and human resources (HR) systems to promote Treasury 

efficiency and cost savings 

•	 Create incentives for employees and organizations to identify and improve processes 

•	 Create a continuous improvement culture by generating leadership support, creating continuous 

improvement organizational leadership, and providing skills training

Contributing Treasury Programs:

•	 Management [Lead Office]

•	 Treasury’s Shared Services Program and the Administrative Resource Center 

•	 All Treasury bureaus and policy offices

Evaluating Progress:

Examples of potential measures and indicators for Strategic Objective 5.3 include:

•	 Direct cost per system user for services administered on Treasury’s platforms

•	 Use of government-wide or Treasury-wide contract vehicles

In addition, the Fiscal Service plans to coordinate a benchmarking effort that will help to establish a 

common set of financial management services and products for shared service providers while identifying 

a consistent and explainable method for capturing costs for purposes of comparison.

5

39
40

Department of the Treasury Strategic Plan FY 2014–2017

Strategic Objective 5.4 – Create a culture of service through 

relentless pursuit of customer value

Treasury is a service organization; we provide services and products to the American people, 

businesses, federal agencies, partners within Treasury, and other entities, both foreign and 

domestic. Each of these groups has unique needs, values, and measures of success. Improving customer 

service at Treasury means creating a culture among our leadership and employees where everyone 

understands each unique customer and defines their success as customer success. This effort involves every 

part of Treasury and reaches beyond the Management Offices into each bureau and policy office. 

Taxpayers expect to interact with the Department of the Treasury in a manner that is fair and 

straightforward. To meet this expectation, we aspire to provide the best service in the federal government.

Strategies:

•	 Coordinate customer service efforts to include better responses to requests, improved communication 

with customers, and improved processes

•	 Use metrics and measures to understand customer value and customer service priorities 

•	 Provide customer service training, mentoring, and coaching

•	 Incorporate taxpayer perspectives to improve all service interactions

•	 Increase digital options to improve service timeliness and accessibility

Contributing Treasury Programs:

•	 Management [Lead Office]

•	 All Treasury bureaus and policy offices

Evaluating Progress:

Examples of potential measures and indicators for Strategic Objective 5.4 include:

•	 Customer service and satisfaction surveys

5
Department of the Treasury Strategic Plan FY 2014–2017

Appendices

Exhibit A: Performance Management and Strategic Planning in Treasury

Treasury employs a robust suite of 

tools and processes to perform data 

analytics-driven, performance-focused, 

and outcome-based strategic oversight 

and management of our bureaus and 

offices. These processes, which are being 

constantly improved, are embedded in 

the way we do business. They remain 

the centerpiece of Treasury’s focus on 

being a model of outstanding federal 

sector governance and management. 

The foundational process that drives 

Treasury’s performance improvement 

culture is the oversight mechanism 

that the Deputy Secretary as the 

Department’s Chief Operating Officer, 

instituted to exercise strategic and operational oversight and guidance. Quarterly Performance Reviews 

provide Treasury’s senior management team regular opportunities to engage the policy offices and bureaus 

on operational performance in mission and management areas as well as performance and budget 

priorities. These sessions not only provide greater transparency on government management issues 

through Treasury’s performance assessment and reporting systems but also facilitate critical analysis and 

decision-making to improve organizational performance and outcomes. 

Treasury has strengthened our partnerships with key federal organizations, including the Office of 

Management and Budget (OMB) and the Performance Improvement Council (PIC), sharing best 

practices as leadership oversees progress on our strategic goals and our current Agency Priority Goals.11

Summary of Consultation Efforts

As an integral part of the strategic planning process, Treasury consulted with its federal government 

partners and stakeholders in preparing this strategic plan for Fiscal Years 2014-2017. Federal agency 

partners, congressional contacts, and the public were encouraged to submit comments on the plan, which 

were then reviewed and considered by senior leadership.

11 For a full discussion of the Department’s current Agency Priority Goals and Cross-Agency Priority Goals, please 

refer to www.performance.gov for the agency’s contributions to those goals and progress.

Appendices 41
Department of the Treasury Strategic Plan FY 2014–2017

Exhibit B: Definition of Strategic Planning Terms

Mission Statement

A brief, easy-to understand narrative, usually no more than a sentence long. It defines the basic purpose 

of the agency and is consistent with the agency’s core programs and activities expressed within the broad 

context of national problems, needs, or challenges.

Strategic Goals 

Statements that articulate general long-term outcomes that an agency hopes to achieve for the major 

functions and operations of the agency. They should address the broader impact desired by the 

organization.

Strategic Objectives 

Statements that reflect the specific impact the agency aims to achieve under a certain goal. Objectives are 

tied to a set of performance goals and indicators established to help the agency monitor and understand 

progress.

Strategies 

Statements that describe the approaches or practices an agency plans to employ to make progress on 

strategic objectives. 

Indicators 

Broad-based metrics that show whether desired outcomes are trending in the desired direction. 

Measures 

Metrics that help determine the impact or influence activities have on outcomes. Specific targets are 

associated with them. They can be quantitative or qualitative in nature.

External Factors 

Situations and circumstances (environments) that can influence program results and outcomes, not within 

the control of the agency.

External Partners 

Foreign and domestic government and private agencies, organizations, or entities that contribute to the 

achievement of an agency objective. 

42 Appendices
Department of the Treasury Strategic Plan FY 2014–2017

Exhibit C: Alignment of Treasury Programs to Strategic Objectives

Strategic Goal Strategic ObjectiveDO-DFDO-IADO-TFIDO-OTPDO-EPIRSCDFIFiscalOCCFinCENTTBBEPMintOFSFSOC/OFRTEOAF

Goal 1: Promote domestic 

economic growth and stability 

while continuing reforms of the 

financial system

1.1: Promote savings and increased access to credit and affordable housing options x x x x

1.2: Wind down emergency financial crisis response programs x x

1.3: Complete implementation of financial regulatory reform initiatives, continue monitoring capital 

markets, and address threats to stability x x x x x

1.4: Facilitate commerce by providing trusted and secure U.S. currency, products, and services for use 

by the public x x x x

Goal 2: Enhance U.S. 

competitiveness and job 

creation, and promote 

international financial stability 

and more balanced global growth

2.1: Promote free trade, open markets, and foreign investment opportunities x x x

2.2: Protect global economic and financial stability and press for market-determined foreign 

exchange rates x

2.3: Advance U.S. economic, financial, and national security goals by leveraging multilateral 

mechanisms x x

2.4: Provide technical assistance to developing countries working to improve public financial 

management and strengthen their financial systems x

Goal 3: Fairly and effectively 

reform and modernize federal 

financial management, 

accounting, and tax systems

3.1: Improve the efficiency and transparency of federal financial management and government-wide 

accounting x x

3.2: Improve the disbursement and collection of federal funds and reduce improper payments made 

by the U.S. government x x

3.3: Pursue tax reform, implement the Patient Protection and Affordable Care Act and Foreign 

Account Tax Compliance Act, and improve the execution of the tax code x x x

Goal 4: Safeguard the financial 

system and use financial 

measures to counter national 

security threats 

4.1: Identify priority threats to the financial system using intelligence analysis and outreach to the 

financial sector x x

4.2: Develop, implement, and enforce sanctions and other targeted financial measures x x x

4.3: Improve the cybersecurity of our nation’s financial sector x x x

4.4: Protect the integrity of the financial system by implementing, promoting, and enforcing antimoney laundering and counterterrorism financing standards x x x

Goal 5: Create a 21st-century 

approach to government 

by improving efficiency, 

effectiveness, and customer 

interaction 

5.1: Increase workforce engagement, performance, and diversity by instilling excellence, innovation, 

and inclusion in Treasury’s organizational culture and business practices

Treasury’s Management Office coordinates Treasury-wide efforts to achieve 

Goal 5 objectives; however, all Treasury Offices and Bureaus contribute to the 

achievement

of these objectives within their organizations.

5.2: Support effective, data-driven decision-making and encourage transparency through intelligent 

gathering, analysis, sharing, use, and dissemination of information 

5.3: Promote efficient use of resources through shared services, strategic sourcing, streamlined 

business processes, and accountability

5.4: Create a culture of service through relentless pursuit of customer value

43 Appendicies