Central Counterparties Data Accessibility Data Quality 

Data Scope Market Structure Monitors Risks in Financial 

Institutions Stress Tests Data Accessibility Data Quality 

Data Scope Market Structure Monitors Risks in Financial 

Institutions Stress Tests Central Counterparties Data 

Quality Central Counterparties Data Quality Data Scope 

Market Structure Monitors Risks in Financial Institutions 

Stress Tests Central Counterparties Data Accessibility 

Data Scope Market Structure Monitors Risks in Financial 

Institutions Stress Tests Central Counterparties Data 

Accessibility Data Quality Data Scope Market Structure 

Monitors Risks in Financial Institutions Stress Tests Central 

Counterparties Data Accessibility Data Scope Market 

Structure Monitors Risks in Financial Institutions Stress 

Tests Central Counterparties Data Accessibility Data 

Quality Market Structure Monitors Risks in Financial 

Institutions Stress Tests Central Counterparties Data 

Accessibility Data Scope Market Structure Monitors 

Risks in Financial Institutions Stress Tests Central 

T

Strategic Plan 2018–2022 

REASURY 

THE 

D

EPARTMENT OF THE TREASURY 

1789 
Department of the Treasury 2018–2022 Strategic Plan 

Strategic Plan Overview 
TREASURY
 

Strategic Plan 2018–2022
 

THE 

D

EPARTMENT OF THE TREASURY 

1789 
 

 

 

 

 

 

 

 

 

 

 

 

 

About the Cover 

Images on the cover reflect Treasury’s multifaceted mission, including our role in

strengthening Main Street, appropriately regulating markets and protecting our

financial system, producing the nation’s currency, and promoting sustainable U.S. 

economic growth. 

About This Document 

Treasury Strategic Plan 2018–2022 is a publication of the United States

Department of the Treasury. It is maintained by the Office of Strategic Planning

and Performance Improvement. For questions, training requests, or additional

copies, please email osppi@treasury.gov. 

This document uses Adobe Caslon Pro (1990), a revival of the original typeface

created by William Caslon I (1692-1766). Caslon was chosen for its classical

feel, readability, and as an homage to Alexander Hamilton’s contributions to The

Federalist (also set in Caslon). This document also uses Helvetica Neue (1983). 

As a work of the United States government, unless otherwise indicated, all elements of this document are in the public domain in the United States. 
 

 

 

 

 

 

 

 

DEPARTMENT OF THE TREASURY
 

Washington, D.C. 20220
 

The new Administration set forth a bold agenda to bolster

economic growth, and the U.S. Department of the Treasury

plays a central role in fostering prosperity and security for the

American people. Treasury’s Strategic Plan for Fiscal Years

2018-2022 charts the Department’s course to fulfill this

important vision. 

This plan outlines the Department’s long-term goals and specific strategies to boost U.S. economic growth, promote financial

stability, enhance national security, transform government-wide

financial stewardship, and achieve operational excellence. 

To achieve these goals,Treasury will leverage its unique capabilities to deliver results for

the American people – overhauling and modernizing the tax system; driving regulatory

relief to create opportunities for American consumers, workers, and their families; and

targeting threats to national security. 

Treasury will advance the President’s “America First” agenda and level the playing field

for American workers and companies. As responsible stewards of taxpayer resources,

we will pursue new capabilities to manage our finances more effectively, broaden data

accessibility for better decision-making, and tirelessly seek efficiencies that improve the

value we deliver to the public. 

Our anticipated accomplishments are a credit to the dedicated women and men of the

Treasury Department. Together, we will help shape a thriving, secure, and prosperous

future for all Americans. 

Sincerely, 

Steven T. Mnuchin 

Secretary of the Treasury 
vi 

Statue of Alexander Hamilton, first Secretary of the Treasury. 
vii 

 Strategic Plan 2018–2022 

Goal 3: Enhance National Security 24
 

 

 

 

Department of the Treasury

Table of Contents 

I. Agency and Mission

About Treasury 1
 

Overview of Goals and Objectives 2
 

Organizational Structure 3
 

Policy Office and Bureau Descriptions 4
 

Understanding the Landscape 6
 

II. Strategic Goals and Objectives 

Goal 1: Boost U.S. Economic Growth 8
 

Strategic Objective 1.1: Tax Law Implementation 8
 

Strategic Objective 1.2: Strong Economic Fundamentals 10
 

Strategic Objective 1.3: Trusted Currency and Services 12
 

Strategic Objective 1.4: Free and Fair Trade 14
 

Goal 2: Promote Financial Stability 16
 

Strategic Objective 2.1: Housing Finance Reform 16
 

Strategic Objective 2.2: Foreign Exchange Practices 18
 

Strategic Objective 2.3: Foreign Technical Assistance 20
 

Strategic Objective 2.4: Financial Sector Critical Infrastructure and Cybersecurity 22
 

Strategic Objective 3.1: Strategic Threat Disruption 24
 

Strategic Objective 3.2: Anti-Money Laundering and Combating
 

Financing of Terrorism Framework 26
 

Strategic Objective 3.3: Economic Strength and National Security 28
 

Goal 4: Transform Government-wide Financial Stewardship 30
 

Strategic Objective 4.1: Financial Data Access and Use 30
 

Strategic Objective 4.2: Debt Management 32
 

Strategic Objective 4.3: Federal Financial Performance 34
 

Goal 5: Achieve Operational Excellence 36
 

Strategic Objective 5.1: Workforce Management 36
 

Strategic Objective 5.2: Treasury Infrastructure 38
 

Strategic Objective 5.3: Customer Value 40
 

III. Accountability Processes

Tracking Progress 42
 

Annual Updates 42
 
viii 

Statue of Albert Gallatin, fourth Secretary of the Treasury. 
 1 

 

 

 

 

 

 

 

 

Department of the Treasury Strategic Plan 2018–2022 

About Treasury 

Scope and Purpose of the 

Strategic Plan 

The Government Performance and Results Act 

Modernization Act (GPRAMA) requires federal agencies to publish new strategic plans 

one year after each presidential inauguration. Treasury’s Strategic Plan for Fiscal Years

(FY) 2018–2022 describes long-term goals

the agency aims to achieve during this administration and provides an internal guide for

decision-making. 

Within the strategic plan,“goals”articulate larger

outcomes or societal impacts that Treasury aims

to achieve, while “objectives” support goals and

reflect more focused policy or operational areas

where we plan to make significant improvements. Accountable officials are designated for

each strategic objective. Concentrating on a

focused set of objectives strengthens accountability, while allowing the Department to

emphasize critical areas and meaningfully manage for results. 

Agency Priority Goals 

Treasury’s FY 2018-2019 Agency Priority 

Goals, each supporting the achievement 

of a specific strategic objective, will be 

published concurrent with the Strategic 

Plan on www.performance.gov. Annual 

plans will be included in each fiscal year’s 

President’s Budget, available on www. 

treasury.gov. 

About Treasury 

Foundation: After the American Revolution,

Congress realized that funding a war without

proper infrastructure presented an enormous

challenge to our country’s economic stability.

Out of the necessity to levy and collect taxes and

manage the U.S. government’s finances, Congress

established the Department in 1789. President

George Washington appointed Alexander

Hamilton as our first Secretary. Our current

Secretary, Steven Mnuchin, is the 77th Secretary

to lead the Treasury Department. 

How We Serve the Nation Today: Treasury 

remains one of the world’s premier finance ministries, responsible for the nation’s debt management, cash production, loans made to other

federal agencies, tax collection, and economic 

policy formulation.We are a trusted policy advisor to the President, formulating and recommending domestic and international financial,

economic, and tax policy. Our contributions to

policy development shape America’s economic

health and security. 

Mission and Values 

Treasury’s mission is to maintain a strong

economy and create economic and job opportunities by promoting the conditions that enable economic growth and stability at home and abroad,

strengthen national security by combatting threats

and protecting the integrity of the financial system,

and manage the U.S. Government’s finances and 

resources effectively. 

The nearly 100,000 dedicated Treasury employees strive to maintain integrity and uphold the

public trust in all that we do, explore better ways

of conducting business through innovation, seek 

diversity of thought and expertise to inform our 

decisions, embrace and adapt to change, and 

hold ourselves accountable for accomplishing 

meaningful results for the American public. 

Agency and Mission About Treasury 
 

Department of the Treasury Strategic Plan 2018–2022 

Overview of Goals and Objectives
 

Objective 

Leads 

Support 

Organizations 

Strategic Goal Strategic Objective 

Domestic FinanceInternational AffairsTFI / FinCENTax PolicyTreasurerEconomic PolicyManagementIRSFiscal ServiceBEP

 Mint U.S.

TTBOCC 

Goal 1: 

Boost U.S. 

Economic 

Growth 

1.1 Tax Law Implementation 

1.2 Strong Economic 

Fundamentals 

1.3 Trusted Currency 

and Services 

1.4 Free and Fair Trade 

Goal 2: 

Promote 

Financial 

Stability 

2.1 Housing Finance Reform 

2.2 Foreign Exchange Practices 

2.3 Foreign Technical 

Assistance 

2.4 Financial Sector Critical 

Infrastructure and Cybersecurity 

Goal 3: 

Enhance 

National 

Security 

3.1 Strategic Threat Disruption 

3.2 AML/CFT Framework 

3.3 Economic Strength and 

National Security 

Goal 4: 

Transform 

Governmentwide Financial 

Stewardship 

4.1 Financial Data Access 

and Use 

4.2 Debt Management 

4.3 Federal Financial Performance 

Goal 5: 

Achieve 

Operational 

Excellence 

5.1 Workforce Management 

5.2 Treasury Infrastructure 

5.3 Customer Value 

2 Agency and Mission Overview of Goals and Objectives 
 

 

 

 

Department of the Treasury Strategic Plan 2018–2022 

Organizational Structure 

Treasury is organized into the Departmental Offices, operating bureaus, and

inspectors general.The Departmental Offices primarily formulate policy and oversee the bureaus, which manage major operations. 

Inspector General 

Chief of Staff Secretary 

Tax Policy 

International 

Finance Financial Markets Terrorist Financing 

Intelligence and 

Analysis 

Foreign Assets 

Control 

International 

Markets and 

Development 

Financial 

Institutions Economic Policy 

Public Affairs 

Legislative Affairs 

Management 

Risk Management 

General Counsel 

Treasurer 

Financial Stability 

Financial Research 

Fiscal Assistant 

Secretary 

Domestic Finance Terrorism and 

Financial Intelligence International Affairs 

Special Inspector General for the 

Troubled Asset Relief Program 

Treasury Inspector General 

for Tax Administration 

Internal Revenue 

Service 

Office of the 

Comptroller of the 

Currency 

Bureau of Engraving 

and Printing 

Bureau of the 

Fiscal Service 

Financial Crimes 

Enforcement Network 

Alcohol and 

Tobacco Tax and 

Trade Bureau 

United States Mint 

Departmental Office Bureau Inspector General

Agency and Mission Organizational Structure 3 
4 

 

 

 

 

 

 

 

 

 

 

 

Department of the Treasury Strategic Plan 2018–2022 

Policy Office and Bureau Descriptions
 

Policy Offices 

Domestic Finance: Works to preserve confidence in U.S. Treasury market,

strengthen financial institutions and markets, and promote access to credit, in 

service to long-term economic strength and stability. 

International Affairs (IA): Protects economic prosperity and national security by

helping to ensure a favorable external environment for sustained jobs and economic growth. 

Terrorism and Financial Intelligence (TFI): Uses policy, intelligence, enforcement

and regulatory tools, and authorities to disrupt and disable terrorists, criminals, and

other national security threats while also safeguarding the financial system against

abuse by illicit actors. 

Economic Policy: Reports on economic developments and assists in the determination of economic policies. Reviews and analyzes domestic economic issues and

financial market developments. 

Tax Policy: Develops and implements tax policies and programs. Reviews regulations and rulings to administer the Internal Revenue Code. Provides revenue estimates for the President’s Budget. 

Treasurer of the United States: Serves as a principal advisor to the Secretary.

Oversees the Office of Consumer Policy, which provides policy leadership,

research, and analysis to foster economic growth and financial security for

American families in a robust consumer marketplace. Oversees the U.S. Mint,

which includes advising the Secretary on coinage matters and liaising with the

Federal Reserve. 

Support Offices 

Office of Management and Chief Financial Officer (Management): Manages the

Department’s financial resources and oversees Treasury-wide programs, including

human capital, organizational performance, information technology, acquisition,

and diversity issues. 

Office of Risk Management (ORM): Oversees the development and implementation of an integrated risk management framework for the Department, advising

Treasury leaders on managing credit, market, liquidity, operational, and reputational risks. 

Office of General Counsel: Manages legal affairs. 

Office of Legislative Affairs: Manages legislative affairs. 

Office of Public Affairs: Manages public affairs. 

Agency and Mission Policy Office and Bureau Descriptions 
 5 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Treasury Bureaus 

Alcohol and Tobacco Tax and Trade Bureau (TTB): Collects federal excise taxes 

on alcohol, tobacco, firearms, and ammunition. Enforces and administers laws covering production, use, and distribution of alcohol and tobacco products. 

Bureau of Engraving and Printing (BEP): Develops and produces U.S. currency

notes as well as secure documents for government use. 

Financial Crimes Enforcement Network (FinCEN): Safeguards the financial system from illicit use and combats money laundering. Promotes national security

through collection, analysis, and dissemination of financial intelligence and strategic use of financial authorities. 

Bureau of the Fiscal Service (Fiscal Service): Provides central payment services

to government agencies. Operates the government’s collections and deposit systems. Delivers administrative shared services to federal agencies. Provides government-wide accounting and reporting. Manages delinquent debt collection.

Borrows money needed to operate the U.S. government through the sale of marketable, savings, and special purpose U.S.Treasury securities. Accounts for and services the public debt. 

Internal Revenue Service (IRS): Determines, assesses, and collects U.S. tax revenue. Helps taxpayers understand their tax responsibilities and combats tax-related fraud. 

United States Mint (U.S. Mint): Designs, mints, and issues U.S. circulating, numismatic, and bullion coins. Strikes medals of national significance. Maintains physical custody and protection of most of the nation’s gold and all of its silver assets. 

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. Supervises federal branches and agencies of foreign

banks. Serves as the rule-making authority for all savings associations. 

Inspectors General 

Office of Inspector General (OIG): Provides independent audits, investigations,


and oversight for the Department of the Treasury and its programs.
 

Treasury Inspector General for Tax Administration (TIGTA): Provides independent audits, investigations, and oversight for the IRS.
 

Special Inspector General for the Troubled Asset Relief Program (SIGTARP):

Provides independent audits, investigations, and oversight for the Troubled Asset

Relief Program managed by the Office of Domestic Finance. 

Agency and Mission Policy Office and Bureau Descriptions 
6 

 

 

 

 

 

 

Department of the Treasury Strategic Plan 2018–2022 

Understanding the Landscape
 

Strengths, Weaknesses, Opportunities, & Threats (SWOT) Assessment 

To shape the Department’s strategic plan, Management conducted an environmental scan using the full portfolio of available evidence to understand our operating environment. This department-wide assessment synthesized factors, both

internal (strengths and weaknesses) and external (opportunities and threats), to

inform the selection of priorities. Organized in spheres of influence, the center

items reflect a greater ability to affect results. 

Internal Stakeholder Engagement 

During the environmental scan, 75 career leaders offered planning insights

through structured interviews. Using established annual and quarterly review

processes, Management worked with bureau and office leadership to identify

potential goal and objective areas and discussed bureau and policy office one-,

three-, and five-year priorities. Treasury goal teams then translated leadership

priorities into actionable objectives, identifying strategies and success measures

through collaborative discussions. 

External Stakeholder Outreach 

As part of our environmental scan, Treasury officials interviewed policy experts

from a variety of academic and research institutions. Additionally, we consulted Treasury’s congressional committees on key planning questions and also

leveraged public comments submitted in response to the Executive Order on

Reorganizing the Executive Branch to shape strategies. 

Throughout the development of the plan, we participated in the interagency strategic planning working group led by the Office of Management and Budget to

coordinate goal-setting and share best practices. 

Agency and Mission Understanding the Landscape 
 

Strengths Weaknesses
 

Effects Causes Causes Effects 

Ability to 

influence 

policy and 

government 

operations 

Limited ability to 

influence 

public 

perception 

of services 

Variable 

service delivery 

issues 

Powerful 

authorities 

and strong 

mission 

execution 

Resource 

constraints 

Quality and 

dedicated 

workforce 

Insufficient 

communications 

Expertise and 

strong 

analytical 

capability 

Uneven maturity 

of planning 

practices 

(knowledge, 

workforce, 

IT, capital) Inconsistent 

oversight 

and 

coordination 

Strong 

partnerships 

(industry, 

agencies, 

internationally) 

Reputation 

(objective, 

“get it done,” 

professional) 

Opportunities Threats
 

Influence Control Control Influence 

U.S. economic 

growth 

Asian economic 

growth 

Techncial 

assistance 

(financial reform) 

for countries 

facing instability 

Leverage 

change in 

leadership to 

implement 

reforms 

(tax, housing 

finance) 

Restore public 

confidence in 

government 

Retain and 

attract strong 

leaders 

Encourage 

more 

collaboration 

Economic 

change 

(slowing 

global growth, 

commodities 

market 

instability, capital 

share of income, 

growing U.S. 

wage inequality) 

Global political 

shifts and 

instability 

Financial 

instability 

(debt crises, 

structural 

instabilities) 

Funding 

(debt limit, 

reduced 

discretionary, 

continuing 

resolutions) 

Retirements 

Private sector 

wage growth 

Increasing 

tax gap 

Counterfeiting 

Changing 

operations 

(currency design, 

enforcement/ 

oversight, 

information 

technology) 

Failures of 

or attacks 

on critical 

infrastructure 

(cyber, national 

disasters, highvalue assets) 

Illicit use 

of financial 

system 

Lead agendasetting at 

international 

entities 

New 

technologies to 

help manage 

organization 

(including data 

analysis) 

Agency and Mission Understanding the Landscape 7 
8 Goal 1 Boost U.S. Economic Growth 

 

 

Goal 1 Objective 1.1 

Tax Law Implementation 

Administer tax law to better enable all taxpayers to meet their 

obligations, while protecting the integrity of the tax system. 

External Stakeholders Desired Outcomes 

Taxpayers	 Timely taxpayer guidance, instructions, and tax forms; Improved

compliance and service efforts; Modernized tax treaties. Tax Preparers 

Social Security 

Administration 

Why Does This Matter? 

In 2017, the President signed historic tax reform into law. We

must implement this law so taxpayers fully understand the new

requirements and can comply with them in the least burdensome way possible. American families and small businesses

spend too much time each year making sure they comply with

the tax code. Tax administration should reduce the complexity

of filing, limit the time and costs involved, and improve voluntary tax compliance. 

Department of Health and 

Human Services 

State Tax Administrators	 

The Internal Revenue Service (IRS) and Office of Tax Policy 

collaborate to set the foundation for regulations that promote

sound tax administration, reduce uncertainty, and improve risk

assessment.To reduce the tax gap in the next four years, the IRS

will increase emphasis on easier taxpayer assistance tools and

improved refund fraud reduction efforts. 

Fiscal Year 2018–2019 Agency Priority Goal: 

Reducing Refund Fraud 

In response to significant increases in refund fraud schemes and identity 

theft, the IRS increased its prevention efforts. One such effort is the Security 

Summit initiative, a public-private sector partnership started in 2015 

between the IRS, state revenue departments, software developers, tax 

professionals, and financial services groups. 

This effort led to a sharp decline in identity theft and related refund fraud, 

with several indicators dropping by more than 50 percent since the 

Summit began. 

• In 2012, there was a 226 percent increase in new identity theft cases
 

from the prior year.
 

• In 2016, there was a 46 percent decrease in new identity theft cases
 

from the prior year.
 
 

 

 

 

 

Objective 1.1 Strategies 

Strategy 1.1.A Tax Policy, IRS, and Alcohol Tobacco Tax and 

Trade Bureau (TTB) 

Issue timely guidance to implement the first major tax 

reform legislation in more than a generation, revise and 

issue new regulations to apprise taxpayers of agency 

interpretation of statute, issue necessary tax forms and 

instructions, and clarify international standards. 

Measures and Indicators of Success: 

• Tax guidance and regulations issued 

• Tax forms updated for legislative changes 

• Tax treaty status 

Strategy 1.1.B IRS, Tax Policy, and TTB 

Improve analytics for faster detection of compliance and 

fraud issues. 

Measures and Indicators of Success: 

• Use of analytic products 

• Detection of compliance and fraud issues 

Strategy 1.1.C IRS and TTB 

Design user-friendly tools and programs to improve 

customer service and lower barriers to voluntary 

compliance. 

Measures and Indicators of Success: 

• Filing and return compliance rates 

• Online services use and completion rates 

• Level of service 

Support Strategy 1.1.D IRS 

Objective 1.1 Tax Law Implementation 9

Develop long-term IRS workforce staffing plan. 

Measures and Indicators of Success: 

• Completed staffing plan 
 

 

 

 

 

 

Goal 1 Objective 1.2 

Strong Economic Fundamentals 

Spur faster economic growth by right-sizing Treasury 

and other regulations and advancing domestic economic 

policies that boost investment, employment, and innovation. 

External Stakeholders 

Financial Stability
 

Oversight Council
 

Securities and Exchange 


Commission
 

Consumer Financial 


Protection Bureau
 

Federal Reserve
 

Federal Deposit Insurance 


Corporation
 

Office of Management
 

and Budget
 

National Economic
 

Council
 

Department of Commerce
 

Small Business 


Administration
 

Commodity Futures Trading 


Commission
 

National Credit Union 


Administration
 

State Regulators
 

Businesses
 

The Public
 

Communities 


Desired Outcomes 

Create sustained growth in Gross Domestic Product (GDP) of three

percent or more. 

Why Does This Matter? 

While sensible regulation is necessary, we must balance the need to

foster sound risk management across the U.S. financial system with

the need to minimize regulatory costs. Overly burdensome regulations stifle economic growth. Compliance costs have increased as

businesses hire professionals to unravel and comply with overlapping regulations, submit reporting, and prepare for audits. In some

cases, federal rules do not take into account local and individual circumstances. Promoting a growth-centered regulatory environment,

while creating an environment of responsible and reliable credit, will

help usher in a new period of economic dynamism. 

We seek to spur economic growth by fostering a financial services

marketplace that offers products and services free from fraud and

deception to enable individual and organizational investment. The

Department promotes a regulatory and policy framework that

encourages a financial marketplace that balances access to financial

services with economic risk to households and the economy. 

Real GDP Percent Change from Recession End 

GDP growth during the current recovery has not reached the growth level of prior recoveries. 

As of 2017 Q1. Source: Bureau of Economic Analysis and Congressional Budget Office 

10 Goal 1 Boost U.S. Economic Growth 
 

 

 

 

 

 

 

 

 

Objective 1.2 Strategies 

Strategy 1.2.A Domestic Finance, 

Economic Policy, and International Affairs 

Right-size domestic and international 

regulation to ease burden. 

Measures and Indicators of Success: 

• High-quality recommendations developed

on time 

• Analytic framework that assesses costs and

benefits of regulatory changes in light of

economic growth priorities and succinctly

presents key trade-offs 

Strategy 1.2.B Economic Policy and Office of 

the Treasurer 

Contribute actively to the development 

of domestic policy proposals that boost 

business investment, increase labor 

force participation, and raise productivity 

growth. 

Measures and Indicators of Success: 

• Regular participation in inter-agency

processes that successfully advance domestic

policies focused on boosting growth 

• Closely monitored economic outcomes and

trends, such as investment, employment, and

innovation 

Strategy 1.2.C Domestic Finance, Economic 

Policy, and Treasurer 

Promote a financial services marketplace 

that addresses the needs of American 

consumers. 

Measures and Indicators of Success: 

• Quality Financial Literacy and Education

Commission products 

• Sophisticated analysis to support policy

development aimed at improving financial

decision-making 

• Outcomes closely monitored, such

as household saving, borrowing, and

expenditures 

• Recommendations developed regarding

municipal bond market structure 

Support Strategy 1.2.D Economic Policy 

Better integrate economic analysis across 

Treasury. 

Measures and Indicators of Success: 

• Active network of policy analysts and

economists across key agencies developed to

better align with Treasury work 

• Better leveraged outside expertise using

term-limited appointments 

Objective 1.2 Strong Economic Fundamentals 11 
12 Goal 1 Boost U.S. Economic Growth 

 

 

 

 

Goal 1 Objective 1.3 

Trusted Currency and Services 

Deliver trusted currency and services that enable citizens 

and businesses to participate in the economy. 

External Stakeholders 

Federal Reserve
 

United States
 

Secret Service
 

Financial Literacy and 


Education Commission
 

Businesses
 

The Public
 

Desired Outcomes 

United States currency remains the world’s premier currency;

Americans empowered to make independent financial decisions;

Industry members receive improved service. 

Why Does This Matter? 

We enable citizens and businesses to participate in the economy by providing trusted currency and services, including permitting and labeling for alcohol and tobacco businesses and financial

literacy resources for the public. First, in partnership with the

Federal Reserve Board and United States Secret Service, we must

continue to ensure an adequate supply of currency for domestic

and foreign markets and sustain efforts to protect and maintain

global confidence in U.S. currency. 

Second, where we oversee entry of businesses and products into the

marketplace,we must not obstruct economic growth and cause financial hardships for businesses through delays in issuing required permits and label approvals.We have opportunities to continue to review

policies and regulations to lift the burden placed on these businesses

and to effectively apply modern technology to simplify compliance. 

Finally, we work with the federal financial literacy community to

provide trusted resources and services to Americans. It is vital to

empower Americans to make independent and informed financial decisions throughout their lives by building financial knowledge, skills, and opportunities, and helping them to overcome 

barriers to financial security. 

Fiscal Year (FY) 2018–2019 Agency Priority Goal: 

Improved Business Qualification Process 

Ongoing growth in the alcohol beverage industry in recent years has resulted 

in an increased volume in permit applications for new alcohol producers. 

This growth in workload has contributed to delayed permit approvals that 

exceed the Alcohol and Tobacco Tax and Trade Bureau's (TTB's) service 

standards. In FY 2017, TTB reviewed its current processes, applications, and 

online systems to identify ways to streamline the process for prospective 

industry members. In FY 2018 and 2019, TTB will work to implement these 

improvements and reduce average approval times for business permits. 
 

 

 

 

 

 

 

 

 

 

 

 

 

 

Objective 1.3 Strategies 

Strategy 1.3.A Bureau of Engraving and Printing 

(BEP) 

Enhance anti-counterfeit currency design. 

Measures and Indicators of Success: 

• Design next generation of currency on

schedule 

• Reduce the number of counterfeit notes 

Strategy 1.3.B Office of the Treasurer 

Empower Americans in making 

independent and informed financial 

decisions to build individual wealth. 

Measures and Indicators of Success: 

• Quality products from the Financial Literacy

and Education Commission 

• Outcomes closely monitored, such as savings

numbers/credit score improvement 

Strategy 1.3.C TTB 

Improve the business and product 

qualification processes for industry. 

Measures and Indicators of Success: 

• Turnaround times of TTB permit, label,

and formula applications 

• Quality of initial submissions 

Strategy 1.3.D U.S. Mint and BEP 

Recapitalize aging production facilities 

and equipment for needed capacity and 

capabilities. 

Measures and Indicators of Success: 

• Yearly Currency Order

(percent of order completed versus planned) 

• Status of facility projects 

• Capital spend amounts 

Support Strategy 1.3.E U.S. Mint and BEP 

Develop and execute long-term 

currency production workforce staffing 

and training plan. 

Measures and Indicators of Success: 

• Completed staffing plan 

Support Strategy 1.3.F U.S. Mint 

Promote a successful coin program. 

Measures and Indicators of Success: 

• Advancement of new proposals 

Treasury must ensure an adequate supply of currency for domestic and foreign markets and sustain efforts to protect and maintain global confidence in U.S. currency. 

Objective 1.3 Trusted Currency and Services 13 
14 Goal 1 Boost U.S. Economic Growth 

 

 

 

Goal 1 Objective 1.4 

Free and Fair Trade 

Advance a free and fair trade environment for U.S. 

businesses through successful negotiation of trade 

agreements and investment policies. 

External Stakeholders 

U.S. Trade Representative
 

Export-Import Bank
 

International Working Group 


on Export Credits
 

Department of Commerce
 

Department of Labor
 

Department of Agriculture
 

National Security
 

Council
 

Congress
 

Department of State
 

International Monetary Fund
 

World Bank
 

Businesses
 

The Public
 

Desired Outcomes 

Fewer foreign trade barriers; New growth opportunities for

Americans; Level playing field for U.S. businesses; Successful 

trade agreements; More balanced global trade. 

Why Does This Matter? 

Free and fair trade is vital to strong domestic growth, prosperity, national security, and foreign policy. It is in America’s economic and national security interests to promote commerce

by strengthening our relationships with our trading partners,

negotiating and maintaining trade agreements that benefit

American workers, vigorously enforcing our nation’s trade laws,

improving overall conditions for competition and trade, investigating violations of anti-competitive practices in the marketplace, and ensuring the strength of our manufacturing and

defense industrial bases. 

The U.S. has not obtained the full scope of benefits anticipated

under past trade agreements and World Trade Organization

participation. Adjusted for inflation, the value of U.S. goods

imports has consistently outpaced U.S. goods exports. Artificial

deficits and unfair trade put American workers and businesses

at a serious disadvantage. 

Treasury’s Role in Trade Negotiations 

Treasury leads international negotiations on financial 

services and transfers for the U.S. government, in 

pursuit of critical financial services commitments, 

robust transfers, provisions of trade, and investment 

negotiations. We also lead negotiations related to rules on 

currency in the context of our trade agreements. 
 

 

 

 

Objective 1.4 Strategies 

Strategy 1.4.A International Affairs and Alcohol Tobacco Tax and 

Trade Bureau (TTB) 

Address discriminating policies and unlawful trade 

practices. 

Measures and Indicators of Success: 

• Number of TTB investigations that resulted in a successful

outcome 

Strategy 1.4.B International Affairs 

Conclude better trade deals that level the playing field. 

Measures and Indicators of Success: 

• Number of concluded targeted trade agreements that seek

to level the playing field for America’s workers, farmers, and 

businesses 

U.S. Trade Deficit 

Objective 1.4 Free and Fair Trade 15 
16 Goal 2 Promote Financial Stability 

Goal 2 Objective 2.1 

Housing Finance Reform 

Support housing finance reform to resolve GovernmentSponsored Enterprise (GSE) conservatorships and prevent 

taxpayer bailouts of public and private mortgage finance 

entities, while promoting consumer choice within the 

mortgage market. 

External Stakeholders Desired Outcomes 

Congress	 Increased share of mortgage credit supported by private capital;

Resolution of GSE conservatorships; Appropriate level of sustainable homeownership. Federal Housing Finance 

Agency 

Fannie Mae/Freddie Mac Why Does This Matter? 

Department of Housing and 

Urban Development/ 

Federal Housing 

Administration 

Fannie Mae and Freddie Mac have been in federal conservatorship for nine years.Taxpayers continue to stand behind their

obligations through capital support agreements while there is

no clear path for the resolution of their conservatorship. The

GSEs, combined with federal housing programs such as those

at the Federal Housing Administration and the Department of

Veterans Affairs, support more than 70 percent of new mortgage

originations. Changes should encourage the entry of greater private capital in the U.S. housing finance system. Resolution of

the GSE conservatorships and right-sizing of federal housing

programs is necessary to support a more sustainable U.S. housing finance system. 

Department of 

Veterans Affairs 

Consumer Financial 

Protection Bureau 

Federal Reserve 

Securities and Exchange 

Commission 

Federal Deposit Insurance 


Corporation
 

Association of
 

State Banking Regulators 


The Public 
 

 

 

 

Objective 2.1 Strategies 

Strategy 2.1.A Domestic Finance and Economic Policy 

Engage stakeholders to develop housing finance reform 

recommendations. 

Measures and Indicators of Success: 

• Regular engagement with external stakeholders to solicit recommendations

and discuss housing finance reform 

• Dissemination of principles and recommendations for housing finance reform 

Strategy 2.1.B Domestic Finance and Economic Policy 

Prepare to implement enacted housing finance reform. 

Measures and Indicators of Success: 

• Plan for the resolution of current GSE conservatorships 

• Analysis of emerging housing finance issues against U.S. economic conditions 

Right-sizing of federal housing programs is necessary to support a more sustainable U.S. housing finance system and promote consumer choice within the mortgage market. 

Objective 2.1 Housing Finance Reform 17 
18 Goal 2 Promote Financial Stability 

 

 

 

 

Goal 2 Objective 2.2 

Foreign Exchange Practices 

Achieve fair foreign exchange practices through multilateral 

engagement with international partners. 

External Stakeholders 

International
 

Monetary Fund
 

Group of 20 Nations
 

National Security Council
 

Department of Commerce
 

Department of State
 

Desired Outcomes 

Global economy free of currency manipulation. 

Why Does This Matter? 

Strong fundamentals, sound policies, and a resilient international

monetary system are essential to the stability of exchange rates,

contributing to strong and sustainable growth and investment.

Certain foreign exchange rate practices can impact export markets in ways that lead to unfair advantages for foreign competitors. 

We seek to level the playing field for U.S. businesses through

multilateral and bilateral engagements on foreign exchange

practices. We do this via multilateral and bilateral activities

working through the International Monetary Fund (IMF) and

the Group of 20 Nations (G-20). The G-20 Finance Ministers

agreed to a regular IMF report assessing progress toward

achieving strong, sustainable, and balanced growth, as well as

the potential for policy development and policy issues related

to achieving faster and more sustainable adjustment of external imbalances. 

We are focused on combatting unfair currency practices that

disadvantage U.S. industry and workers and, to this end, have

strengthened the semi-annual surveillance of the exchange rate

practices of major U.S. trading partners. We also continue to

press for stronger exchange rate surveillance in the IMF. 
 

 

 

 

 

Objective 2.2 Strategies 

Strategy 2.2.A International Affairs 

Incorporate meaningful foreign exchange goals into 

Free Trade Agreement (FTA) negotiations. 

Measures and Indicators of Success: 

• Number of concluded FTAs inclusive of or accompanied by

meaningful currency commitments 

Strategy 2.2.B International Affairs 

Utilize IMF and G-20 forums to make progress in 

constructive exchange rate practices. 

Measures and Indicators of Success: 

• Data tracked in Treasury’s semi-annual Foreign 

Exchange Report 

• Number of G-20 countries that strengthen and abide by

currency commitments 

Objective 2.2 Foreign Exchange Practices 19
Goal 2 Objective 2.3 

Foreign Technical Assistance 

Provide technical assistance to enable foreign partner 

countries to better raise and manage financial resources and 

protect their financial sectors. 

External Stakeholders 

Department of State
 

U.S. Agency for r

International Development
 

Millennium Challenge 


Corporation
 

International Financial 


Institutions
 

Development Banks
 

Partner Countries
 

Desired Outcomes 

Strongly engaged partner countries with increased capability to 

aise and mobilize domestic resources (resulting in decreased reliance on foreign aid); Attainment of strong, abuse-resistant financial sectors that promote economic growth. 

Why Does This Matter? 

Treasury’s Office of Technical Assistance (OTA) directly assists 

developing and transition countries that have demonstrated 

strong commitment to reforming public financial management 

and strengthening their financial sectors. This work encourages 

prosperity and stability in other parts of the world and supports 

broader U.S. government economic and national security objectives – such as reducing corruption – while helping to create more 

stable international markets for U.S. exports. 

Treasury’s Technical Assistance Footprint 

The Americas 

Argentina Guatemala 

Belize Guyana 

Colombia Haiti 

Dominica Honduras 

Dominican Jamaica
 

Republic Mexico
 

El Salvador Paraguay
 

Grenada Peru
 

Saint Kitts and Nevis
 

Saint Vincent and the Grenadines
 

Trinidad and Tobago
 

Source: OTA 

Europe and Eurasia 

Kosovo Moldova Ukraine 

Middle East and North Africa 

Algeria Jordan
 

Iraq Tunisia
 

Sub-Saharan Africa 

Cabo Verde Malawi 

Gabon Niger 

Ghana Rwanda 

Guinea Sierra Leone 

Guinea-Bissau Somalia 

Kenya Tanzania 

Liberia Uganda 

Madagascar Zambia 

Asia 

Afghanistan
 

Burma
 

Cambodia
 

India
 

Indonesia
 

Mongolia
 

Philippines
 

Sri Lanka
 

20 Goal 2 Promote Financial Stability 
 

 

Objective 2.3 Strategies 

Strategy 2.3.A International Affairs 

Maintain strong focus on core technical assistance areas 

(revenue policy and administration; budget and financial 

accountability; government debt issuance and management; 

banking and financial services; economic crimes). 

Measures and Indicators of Success: 

• Engagement of partner countries in programs 

• Number of projects in core technical assistance areas 

Strategy 2.3.B International Affairs 

Emphasize high priority issues such as domestic resource 

mobilization, infrastructure finance, expanded access to 

financial services, and Anti-Money Laundering/Combating 

Financing of Terrorism (AML/CFT) frameworks. 

Measures and Indicators of Success: 

• Engagement of partner countries in programs 

• Number of projects emphasizing high priority issues 

Recent Foreign Technical Assistance 

Success Stories 

Objective 2.3 Foreign Technical Assistance 21

Ukraine took steps to stabilize its 

banking sector, including resolution of the 

country’s largest and most systemically 

important bank in 2016. 

Burma created the government’s first 

Large Taxpayer Office as part of a joint 

Treasury-International Monetary Fund 

project to strengthen tax administration 

and improve domestic resource 

mobilization. In 2016, the office improved 

voluntary compliance and amended 

returns yielded more than $13 million in 

additional revenue. 
22 Goal 2 Promote Financial Stability 

Goal 2 Objective 2.4 

Financial Sector Critical 

Infrastructure and Cybersecurity 

Enhance security, improve resiliency, and reduce the risk of 

significant cybersecurity and other incidents to the financial 

sector’s critical infrastructure, domestically and internationally. 

Desired Outcomes	 vulnerabilities and the potential impact of any

successful exploitation.This may require increasingly dynamic, real-time approaches, with closer

networks of government and industry partners

working together to reduce the sector’s cyber

vulnerabilities (and thus overall risk), thereby

improving security and resilience. 

Reduced frequency and impact of cybersecurity

breaches and physical incidents; More effective incident response processes and improved

recovery time; Improved information sharing

and collaboration. 

Why Does This Matter? Because financial sector critical infrastructure 

is primarily owned and operated by the private

sector, operational risk is within the purview and

responsibility of the firm involved. We consult

with the private sector to identify and subsequently manage potential vulnerabilities, through

advising on techniques such as information sharing, promoting the use of best practices, and creating automated tools. Not only are firms and the

larger infrastructure better protected, but their

boards can make better and more informed decisions regarding appropriate levels of cyber and

operational risk they are willing to accept. 

The U.S. financial sector faces a broad range of

cybersecurity vulnerabilities and physical hazards both domestically and abroad. These are

not likely to diminish in the near-term. In fact,

given past trends and the growing complexity of technology, cyber vulnerabilities in particular are likely to increase numerically and

in potential consequences if exploited. This is 

compounded by the associated sophistication of

adversaries and their techniques used to exploit

cyber vulnerabilities. Therefore, we must both 

understand and reduce the sheer number of 

External Stakeholders Financial Sector Cyber Vulnerabilties 

Financial Regulators
 

Law Enforcement
 

Department of
 

Homeland Security
 

Financial Sector Companies
 

Trade Associations
 

Other Supporting Critical 


Infrastructures
 

Information Sharing and 


Analysis Centers
 

International Partners 


According to figures compiled by IBM Managed Security 

Services, the financial services sector moved from the third 

most-attacked industry in 2015 (behind healthcare and 

manufacturing) to the first in 2016. This was due primarily 

to two major technical attack families that together 

accounted for almost half of all attacks among IBM 

Managed Security Services financial sector customers. 

These attacks are perhaps the most popular approaches 

in this sector because the successful exploitation of these 

vulnerabilities allows attackers to read, modify, and destroy 

sensitive data. Additionally, financial information databases 

contain vast amounts of personally identifiable information, 

which hackers can sell at a profit. Technical attacks such 

as these are likely to remain the primary methods of 

attacking data stores. 
 

 

Objective 2.4 Strategies 

Strategy 2.4.A Domestic Finance 

Harmonize regulatory proponents on 

cybersecurity methods and baseline 

protections for best practices. 

Measures and Indicators of Success: 

• Improved coordination on cybersecurity

supervisory efforts 

• Increased resilience by shifting resources

to improving security from regulatory

compliance 

• Adoption and use of the National Institute

of Standards and Technology Cyber Security

Framework 

• Work conducted with domestic sector 

members and international forums to 

harmonize best practices with the framework 

Strategy 2.4.B Domestic Finance 

Work with financial sector companies and 

“Section 9” firms to identify vulnerabilities 

in the financial services sector, so that 

a prioritized mitigation plan can be 

developed and implemented by the 

owners and operators of the systems. 

Measures and Indicators of Success: 

• Enhanced sector mapping to develop a

broader understanding of sector critical 

processes 

• Completed work to prioritize and address

major vulnerabilities identified as a part of

this effort 

• Enhanced security and resilience of

“Section 9” companies (companies where a

cybersecurity incident could reasonably result

in catastrophic regional or national effects on

public health or safety, economic security, or

national security) 

Strategy 2.4.C Domestic Finance 

Identify and address interdependencies 

with other sectors of industry, particularly 

other critical infrastructures that 

support financial services, such as 

telecommunications and power. 

Measures and Indicators of Success: 

• Completed major exercise with the

communications and electricity sectors 

• Lessons learned, identified, and addressed 

• Improved sector planning framework tested

through additional cybersecurity exercises 

Strategy 2.4.D Domestic Finance 

Partner with industry and government 

agencies to increase cybersecurity 

information flow among private and 

public partners. 

Measures and Indicators of Success: 

• Improved quality, quantity, relevance, and

timeliness of information shared 

• Increase in number of organizations actively

sharing information 

Support Strategy 2.4.E Domestic Finance and 

Management 

Improve high-value asset (HVA) resiliency. 

Measures and Indicators of Success: 

• HVA reliability 

Support Strategy 2.4.F Domestic Finance 

Minimize the impact of incidents that 

do occur by developing and exercising 

effective response plans. 

Measures and Indicators of Success: 

• Improved sector planning framework tested

through additional cybersecurity exercises 

Objective 2.4 Financial Sector Critical Infrastructure and Cybersecurity 23 
24 Goal 3 Enhance National Security 

 

 

 

Goal 3 Objective 3.1 

Strategic Threat Disruption 

Identify, disrupt, and dismantle priority threats to the U.S. 

and international financial systems. 

External Stakeholders 

State and Federal Regulators


 Foreign Partners
 

Local, State, and Federal 


Law Enforcement
 

Department of Justice
 

Intelligence Community
 

Department of State
 

Department of Defense
 

Department of
 

Homeland Security
 

Department of Commerce
 

National Security Council
 

National Economic Council
 

Egmont Group
 

(Foreign Intelligence Units)
 

Financial Institutions
 

Desired Outcomes 

Identify, disrupt, and successfully isolate threats from the U.S. and

global financial system; Deny revenue sources to terrorist financiers, money launderers, weapons proliferators, drug kingpins, and

human rights abusers; Proactively implement U.S. policy toward

regimes such as Iran, North Korea, Venezuela, and Russia, and

terrorist organizations such as ISIS, Hizbollah, and al-Qa’ida. 

Why Does This Matter? 

Through its national security mission and statutory authority,

such as the International Economic Emergency Powers Act (IEEPA) 

and the USA PATRIOT Act, Treasury’s Office of Terrorism and

Financial Intelligence (TFI) has broad tools to investigate and

target activity that threatens national security such as financing

of terrorism and the proliferation of weapons of mass destruction. We must work with our partners, leveraging U.S. leadership bilaterally and multilaterally, to ensure these authorities are

used strategically to target – and have the greatest effect on –

rogue regimes, criminal networks, and terrorist organizations,

while considering the potential impact on the economies of the

United States and its allies. 

Fiscal Year 2018–2019 Agency Priority Goal: 

International Collaboration 

We must focus our combined efforts on disrupting illicit 

financial networks and protecting the U.S. and international 

financial systems by expanding information sharing and 

collaboration with international partners to address risks 

from rogue regimes, terrorist financiers, transnational 

criminal organizations, human rights abusers, and 

proliferators of weapons of mass destruction. 
 

 

Objective 3.1 Strategies 

Strategy 3.1.A TFI, Financial Crimes 

Enforcement Network (FinCEN) 

Disrupt the capability of priority targets 

to raise, use, and move funds through 

strategic application of Treasury’s tools 

and authorities. 

Measures and Indicators of Success: 

• Implementation of administration and

congressional policies 

• Priority threats disrupted 

Strategy 3.1.B TFI and FinCEN 

Identify threats to the financial system 

from terrorists, proliferators, rogue 

regimes, and criminal actors through 

the exploitation and analysis of Bank 

Secrecy Act (BSA) data, other financial 

information, and all-source intelligence 

research and analysis. 

Measures and Indicators of Success: 

• Threats identified 

• Creation of analytic products 

How TFI Uses Its Tools to Combat Risks 

Strategy 3.1.C TFI, FinCEN, and International Affairs 

Expand current and facilitate new threat 

information-sharing and collaboration with 

domestic and international partners. 

Measures and Indicators of Success: 

• Information shared 

• Collaboration events 

Support Strategy 3.1.D TFI and FinCEN 

Maximize and integrate Treasury’s 

economic tools and authorities across TFI 

components against illicit actors. 

Measures and Indicators of Success: 

• Use of tools and authorities 

Support Strategy 3.1.E TFI and FinCEN 

Coordinate analysis of all available 

information sources, including 

intelligence analysis, BSA data, and other 

financial information obtained through 

Treasury administrative authorities or 

from foreign partners. 

Measures and Indicators of Success: 

• Internal coordination activities 

Risks 

to the 

Financial 

System 

e.g. Rogue 

Regimes, Terrorist 

Financiers, Money 

Launderers, 

WMD 

Proliferators, 

Drug 

Kingpins 

Pressure 

Tools

 Sanctions

 Section 311 of the 

USA PATRIOT Act

 International Partners

 Funding/Support of 

Criminal Investigations

 Diplomatic Engagement 

Preventative 

Tools

 Int’l AML/CFT Standards

 Diplomatic Engagement

 Bank Secrecy Act 

Advisory Group

 Regulatory Oversight

 FinCEN Advisories

 AML Regs/Guidance

 Compliance

 Private Sector 

Engagement 

Diagnostic 

Tools

 Intelligence Analysis

 Regulatory Reporting

 Record Keeping Rules

 Law Enforcement 

Information

 Foreign Government 

Information 

U.S. and 

International 

Financial 

Systems 

Objective 3.1 Strategic Threat Disruption 25 
26 Goal 3 Enhance National Security 

 

 

 

Goal 3 Objective 3.2 

Anti-Money Laundering and Combating

Financing of Terrorism Framework 

Identify and reduce vulnerabilities in the U.S. and international 

financial system to prevent abuse by illicit actors. 

External Stakeholders 

State and Federal Regulators
 

Foreign Partners
 

Local, State, and Federal 


Law Enforcement
 

Department of Justice
 

Intelligence Community
 

Department of State
 

Department of Defense
 

Department of
 

Homeland Security
 

National Security Council
 

Egmont Group
 

(Financial Intelligence Units)
 

Financial Institutions
 

Desired Outcomes 

Prevent terrorists and other illicit actors from using the U.S.

and international financial systems through strengthened U.S.

and global Anti-Money Laundering/Combating Financing of

Terrorism (AML/CFT) frameworks; Enhanced transparency in

the international financial system. 

Why Does This Matter? 

Through its national security mission and AML/CFT regulatory authorities, Terrorism and Financial Intelligence (TFI) has

the responsibility to protect the U.S. financial system. The interconnectedness of the international financial system means that

both threats and vulnerabilities are inherently global in nature

and that illicit activity occurring outside the U.S. financial system

can directly undermine the integrity of our system. 

In addition to deploying Treasury tools and coordinating with

other U.S. government agencies, we must also partner with the

private sector and foreign governments to encourage, incentivize, and compel action to bolster the integrity of the international

financial system and ensure that illicit actors – including proliferators,terrorist support networks,destabilizing regimes,and transnational criminal organizations – are unable to use this system in

support of their objectives. 
 

 

Objective 3.2 Strategies 

Strategy 3.2.A TFI, Financial Crimes Enforcement 

Network (FinCEN), and Economic Policy 

Proactively identify vulnerabilities 

within the financial system and address 

them through a risk-based approach 

that integrates oversight measures, 

regulations, targeted enforcement 

actions, and compliance. 

Measures and Indicators of Success: 

• Vulnerabilities addressed 

• Risk-based approach implemented 

Strategy 3.2.B TFI and FinCEN 

Exchange information between and 

among governments, law enforcement, 

and financial institutions to address risks 

to the U.S. and global financial systems. 

Measures and Indicators of Success: 

• Information exchanged 

• Number of partners 

• Information leading to action 

Strategy 3.2.C TFI and FinCEN 

Encourage international partners 

to adopt, implement, and enforce 

international AML/CFT standards. 

Measures and Indicators of Success: 

• Number of partners adopting standards 

Strategy 3.2.D TFI and FinCEN 

Modernize, streamline, and simplify the 

regulatory framework to more effectively 

and efficiently address national security 

priorities. 

Measures and Indicators of Success: 

• Regulatory changes 

• Guidance produced 

Support Strategy 3.2.E TFI and FinCEN 

Modernize systems and analytical 

capabilities to better collect, assess, 

disseminate, and act upon financial data 

and intelligence. 

Measures and Indicators of Success: 

• System modernization 

• Increased analytic production and

dissemination 

Support Strategy 3.2.F TFI and FinCEN 

Conduct law enforcement and private 

sector outreach and take enforcement 

actions, as appropriate, against noncompliant entities to encourage robust 

compliance controls for private actors to 

effectively implement sanctions-related 

policies and procedures. 

Measures and Indicators of Success: 

• Outreach events 

• Enforcement actions 

Objective 3.2 Anti-Money Laundering and Combating Financing of Terrorism Framework 27 
28 Goal 3 Enhance National Security 

 

 

 

Goal 3 Objective 3.3 

Economic Strength and National Security
 

Advance American prosperity and security through growth, 

investment, trade, and expanding the American industrial 

base while protecting national security. 

External Stakeholders	 Desired Outcomes 

Department of State	 Peace through economic strength; Maintain an open inward foreign investment posture while eliminating national security risks. Department of Commerce 

Department of Defense Why Does This Matter? 

Other Member Agencies 

of the Committee on 

Foreign Investment in the 

United States 

Prosperity helps enhance national security, as articulated in the


Administration’s new National Security Strategy. The United


States must use all instruments of national power, including dip-


lomatic and economic tools, to ensure American workers and 


companies are not unfairly disadvantaged and to create a more


stable world, while respecting our economic partners’ sovereignty.
 

Congress 

Separately, the United States faces an evolving foreign investment

land- scape that poses increasingly complex risks to U.S. national

security and strategic interests that stretch the ability of existing authorities of the Committee on Foreign Investment in the

United States (CFIUS) to address.This includes new trends, such

as the more frequent need to use mitigation measures to address

identified national security risks (for example, restricting who can

access certain information and who can influence government

contracts or processes), increased prevalence of complex acquisitions, and the use of new types of transactions that pose similar

potential national security concerns as foreign acquisitions. 

Protecting National Security 

as Part of an Open Investment Climate 

We chair the CFIUS, which leads an interagency process 

to review certain foreign investments for potential national 

security concerns. CFIUS has proven very effective in 

its purpose of helping secure the U.S. within an open 

investment climate. However, in light of the evolving 

foreign investment landscape, reform is important to 

ensure that CFIUS has: (1) the necessary authority to 

review more types of foreign transactions that may pose 

national security risks, and (2) sufficient resources to 

review such transactions. 
 

 

 

200 

180 

160 

140 

120 

100 

80 

60 

40 

20 

Transactions Reviewed 

FY 2009 FY 2010 FY 2011

Transactions Requiring Additional Investigation 

Fiscal Years (FY) 

FY 2012 FY 2013 FY 2014 FY 2015 

Source: Treasury 

FY 2016 

0 

Number of Cases 

Objective 3.3 Economic Strength and National Security 29 

Objective 3.3 Strategies 

Strategy 3.3.A International Affairs, Terrorism 

and Financial Intelligence (TFI) 

Exercise leadership on the 

implementation of economic strategies, 

drawing on the tools and resources of 

the international community, to stabilize 

potentially volatile regions. 

Measures and Indicators of Success: 

• Regions stabilized 

• Involvement of international partners 

Strategy 3.3.B International Affairs, TFI 

Review and investigate foreign 

acquisitions for national security risks. 

Measures and Indicators of Success: 

• No foreign acquisitions of U.S. assets that

pose unresolved national security concerns 

CFIUS Caseload by Type 

Strategy 3.3.C International Affairs 

Be prepared to implement enacted 

critical industry reform. 

Measures and Indicators of Success: 

• Meet CFIUS statutory timeframes and

requirements 

Support Strategy 3.3.D International Affairs, TFI 

Ensure CFIUS is properly resourced 

commensurate with workload. 

Measures and Indicators of Success: 

• Average caseload per case officer 

• Dedicate staff to monitoring mitigation

agreements and non-notified transactions 
30 Goal 4 Transform Government-wide Financial Stewardship 

Goal 4 Objective 4.1 

Financial Data Access and Use 

Increase the access and use of federal financial data to 

strengthen government-wide decision-making, transparency, 

and accountability. 

External Stakeholders Desired Outcomes 

Office of Management

and Budget 

Provide the public and federal agencies with access to a greater

range of financial data to increase transparency and support datadriven decision making; Multiple user groups supported and data

used for evidence-based decisions, reduced reporting costs, and

more measurable returns on investments. 

Chief Financial Officers 

Council 

Federal Agencies
 

The Public Why Does This Matter?
 

The implementation of the Digital Accountability and Transparency 

Act of 2014 (DATA Act) increased the availability of federal

spending data on the USAspending.gov website.The DATA Act

Information Model Schema, which is used to help retrieve and

display these data, can be expanded to include other administrative data and link more domains across the federal enterprise.The

more linked information that is added, the greater its use to support decision-making and provide metrics for evaluating program

performance and outcomes. 

We plan to increase our own use of information for better decision-making, particularly in terms of winding down major financial programs and evaluating commitments to international

organizations. 
 

 

Objective 4.1 Strategies 

Strategy 4.1.A Domestic Finance and Bureau of the Fiscal Service 

Improve the quality and availability of financial data for federal CFOs. 

Measures and Indicators of Success: 

• Increase in quantity and quality of financial data 

• Broader array of data sources 

Strategy 4.1.B Internal Revenue Service, Domestic Finance, and 

Bureau of the Fiscal Service 

Analyze and share data to effectively assess performance and 

determine appropriate work streams. 

Measures and Indicators of Success: 

• Increased use of data in organizational performance assessments and reports 

Strategy 4.1.C Domestic Finance 

Wind down sun-setting programs responsibly, maximizing the financial 

benefit to taxpayers. 

Measures and Indicators of Success: 

• Total cost of programs being sun-setted 

• Implementation of wind-down plans 

Strategy 4.1.D International Affairs 

Manage U.S. positions at multilateral institutions. 

Measures and Indicators of Success: 

• Value of unmet commitments to multilateral development banks 

• Improved multilateral development bank policies for project selection 

Objective 4.1 Financial Data Access and Use 31 
32 Goal 4 Transform Government-wide Financial Stewardship 

 

 

 

Goal 4 Objective 4.2 

Debt Management 

Fund the federal government at the least cost over time. 

External Stakeholders 

Treasury Market Investors 


Including Primary Dealers
 

Federal Reserve
 

Bank of New York
 

Securities and Exchange 


Commission
 

U.S. Commodity Futures 


Trading Commission
 

Financial Industry
 

Regulatory Authority
 

Board of Governors
 

Desired Outcomes 

Sufficient funds raised to finance future deficits and fund Treasury’s 

liquidity buffer at the lowest cost over time to the American taxpayer; Increase in investors attracted to both the primary and secondary Treasury debt market; Treasury information technology

systems and infrastructure are sufficiently robust, current, secure,

and aligned with investor and issuer needs. 

Why Does This Matter? 

The amount of debt issuance needed to fund the government is

anticipated to be substantial over the next decade. Evolving technology, investor behavior, and regulations are dynamic forces that

create both intermediate and longer-term challenges. Uncertainty

related to macroeconomic factors, legislation, and forecast error

increase risks to our funding objectives and flexibility. 
 

 

Objective 4.2 Strategies 

Strategy 4.2.A Domestic Finance 

Improve Treasury market analytics for greater accuracy 

and responsiveness. 

Measures and Indicators of Success: 

• On-time and improved analysis products 

Strategy 4.2.B Domestic Finance and Bureau of the Fiscal Service 

Develop new products that satisfy investors’ needs and 

help meet Treasury issuance goals. 

Measures and Indicators of Success: 

• New products launched 

Support Strategy 4.2.C Domestic Finance and Bureau of the 

Fiscal Service 

Develop a more robust and automated Treasury Debt 

Issuance System that is secure and scalable. 

Measures and Indicators of Success: 

• Percentage of auctions successfully completed by the

scheduled close 

• Percentage of auction results released accurately 

Objective 4.2 Debt Management 33
 

 

Goal 4 Objective 4.3 

Federal Financial Performance
 

Improve federal financial management performance using 

innovative practices to support effective government. 

External Stakeholders Desired Outcomes 

Office of Management 

and Budget 

Federal Agencies 

Implementation of new innovative financial practices; Lower

financial management costs; Greater value from and increased

use of shared services. 

Why Does This Matter? 

We are a central provider of financial management services to the

U.S. government. Consequently, we strive to improve the quality of these services and reduce the costs so that agencies can 

spend more of their resources on their missions and provide value

to the American public. As financial technology and practices

change, we aim to adopt the best innovative practices to achieve

this objective. 

Modernization Effort Decreased Paper Payment Volume 

Treasury’s Bureau of the Fiscal Service disburses approximately 85 percent of all federal payments, including tax 

refunds and Social Security benefits. Beginning in 2012, the Bureau launched a modernization effort to increase 

electronic transactions that led to a savings of more than $500 million. Source: Treasury 

34 Goal 4 Transform Government-wide Financial Stewardship 
 

 

 

Objective 4.3 Strategies 

Strategy 4.3.A Domestic Finance and Bureau of the Fiscal Service 

Provide new tools and capabilities in support of the 

financial management community and their respective 

missions. 

Measures and Indicators of Success: 

• Identification and promotion of emerging technologies and

practices 

Strategy 4.3.B Domestic Finance 

Identify and systematically measure all General Fund 

exposures from credit, insurance, emergency, and 

contingency liabilities. 

Measures and Indicators of Success: 

• Improved exposures reporting 

Leading the Charge for Innovative Practices 

To review challenges, opportunities, and trends, we 

studied and sourced information from numerous 

innovators including U.S. federal, state, and local 

governments, international governments, and privatesector experts to create a federal financial management 

strategy. This strategy will enable the federal financial 

management community to modernize financial 

operations and provide insight and leadership to improve 

agency efficiency and performance. 

Objective 4.3 Federal Financial Performance 35 
36 Goal 5 Achieve Operational Excellence 

 

 

Goal 5 Objective 5.1 

Workforce Management 

Foster a culture of innovation to hire, engage, develop, 

and optimize a diverse workforce with the competencies 

necessary to accomplish our mission. 

External Stakeholders 

Office of Management
 

and Budget
 

Office of Personnel 


Management
 

Desired Outcomes 

An agile, skilled, effective, and diverse workforce; Innovative and

inclusive workplace; Sustainable culture of engagement and superior performance. 

Why Does This Matter? 

We require an agile, diverse, and inclusive workforce to maximize organizational performance and efficiency, under conditions of constant change, and succeed in achieving our mission.

As we pursue agency reform and workforce reshaping initiatives,

there are risks of losing institutional knowledge, not being able

to nimbly respond to evolving demands, and implementing decisions that impact the workforce that may not be based on strong,

evidence-based human capital analysis. 

We will transform how we manage our workforce by incorporating a competency-based approach into the Department’s

human capital management framework.This will provide us with

the means to assess and shape capabilities of the workforce, to

leverage the workforce to respond to changing mission needs 

quickly and easily, and to assess the current workforce capacity

against the capacity needed to achieve the strategic objectives of

the Department. 

This approach will allow Treasury to improve organizational performance, compete for talent, support cultural change, enhance

training and development effectiveness, improve recruitment and

selection processes, reduce turnover, clarify roles, and increase 

emphasis on business objectives. 
 

 

Objective 5.1 Strategies 

Strategy 5.1.A Management, Bureau Human Resources Officers, Chief Learning 

Officers, and Diversity and Inclusion Officers 

Create an appropriately sized, structured, and skilled workforce with the 

competencies needed to meet our mission and organizational goals. 

Measures and Indicators of Success: 

• Percentage of identified critical positions with succession plans in Treasury’s 

Integrated Talent Management System 

• Established Treasury-wide succession planning framework (or policy) 

Strategy 5.1.B Management, Bureau Human Resources Officers, Chief Learning 

Officers, and Diversity and Inclusion Officers 

Maximize employee performance and ensure alignment in support of 

organizational outcomes. 

Measures and Indicators of Success: 

• Percentage of individual performance commitments that are aligned with

organizational performance objectives 

• Improved Federal Employee Viewpoint Survey (FEVS) satisfaction scores 

Strategy 5.1.C Management, Bureau Human Resources Officers, Chief Learning 

Officers, Equal Employment, and Diversity and Inclusion Officers 

Improve diversity and engagement through transparency, fairness, 

and inclusion. 

Measures and Indicators of Success: 

• Improvement in FEVS diversity and inclusion index 

Support Strategy 5.1.D Management and Bureau Human Resources Officers 

Employ technological solutions that advance the management and 

leadership of the workforce. 

Measures and Indicators of Success: 

• Percentage of primary system functionality used 

• Reduce the number of human resources information technology systems 

Objective 5.1 Workforce Management 37
38 Goal 5 Achieve Operational Excellence 

 

 

 

 

Goal 5 Objective 5.2 

Treasury Infrastructure 

Better enable mission delivery by improving the reliability, 

security, and resiliency of Treasury’s infrastructure. 

External Stakeholders 

Office of Management
 

and Budget
 

Office of Personnel 


Management
 Why Does This Matter? 

General Services 


Administration —
 

Unified Shared Services 


Management
 

Congress
 

Industry and Vendors
 

National Security Council
 

Department of
 

Homeland Security
 

Desired Outcomes 

Infrastructure to securely deliver on Treasury’s strategic priorities; Potential disruptions to operations have been anticipated

and appropriately responded to. 

Although we have improved our resilience, significant risks exist

and more lethal threats are emerging at an alarming pace, with

some threats difficult to identify early on. Risks associated with

outdated information technology (IT) infrastructure include inefficiency, increased cyber vulnerability, and compliance issues. Aging

infrastructure makes information systems vulnerable to attack,

which has led to an environment increasingly at risk of breaches. 

Our facilities and offices must safeguard employees against incidents and injuries. Additionally, as our risk and planning processes continue to mature, we must improve our ability to identify

potential incidents that could disrupt critical operations and put

proper mitigations in place. 

Treasury’s ownership of some buildings creates a different set of concerns than managing

leased space. 
 

Objective 5.2 Strategies 

Strategy 5.2.A Management and 

Bureau Information Technology Officers 

Modernize and secure Treasury’s 

technology and information resources, 

including the federal government’s 

payments and collections systems. 

Measures and Indicators of Success: 

• Cyber risk is managed at the ‘adaptive’ level

based on self-assessment 

• Performance of IT services compared to

best-in-class industry benchmarks 

• Improved Federal Employee Viewpoint

Survey scores for the “Employees have tools

to do their job” question 

Strategy 5.2.B Management and Treasury 

Operations Community 

Prioritize health, safety, and security 

improvement projects for Treasury-owned 

buildings. 

Measures and Indicators of Success: 

• Establishment of a non-IT capital planning

process that ensures that risks to personnel,

facilities, and mission are identified and

prioritized 

• Occupational Safety and Health

Administration recordable rate 

• List of priority shared services capital

investments established and reviewed 

semi-annually 

Objective 5.2 Treasury Infrastructure 39

• 90 percent of the highest priority capital

investments (as established by the

governance body) fully funded for the year of

execution 

Strategy 5.2.C Management and Risk 

Management Community 

Develop a strategic approach to 

identifying, anticipating, and developing 

contingency plans to prepare the 

workforce and organizations for threats 

that are difficult to respond to or foresee. 

Measures and Indicators of Success: 

• Completion of a study of potential major

threats to Treasury’s mission, personnel, and 

infrastructure 

• Completed contingency plans for major

operations and threats 

Support Strategy 5.2.D Management and 

Treasury Operations Community 

Create the capability to fully fund a 

reserve for capital investments. 

Measures and Indicators of Success: 

• Franchise fund reserve capacity implemented 

• Governance and reserve policy established 

• Capital investment workflow process

implemented 
40 Goal 5 Achieve Operational Excellence 

Goal 5 Objective 5.3 

Customer Value 

Improve customer value by increasing the quality and 

lowering the cost of Treasury’s products and services. 

External Stakeholders Desired Outcomes 

Customers, 

including American 

taxpayers who depend 

on our services and core 

processes	 

Treasury products and services are driven by customer needs

through efficient and effective operations. 

Why Does This Matter?

Successful businesses provide exceptional value to their customers

through two core lean manufacturing tenets: satisfying customer’s needs and reducing operating costs. The same principles can

apply to our operations to increase value to customers by eliminating non-value-added processes and improving flow, thereby

reducing costs and improving quality. We have an opportunity to

drive efficiencies using continuous process improvement methods

and make the most of capital investments by streamlining acquisition workflows. 

Treasury’s Shrinking Virtual Footprint 

Since 2010, we closed 25 of 61 data centers (41 percent) 

and reduced data center square footage from 1,147,413 

square feet to 666,038 square feet (58 percent). As we 

increase our usage of cloud computing, we anticipate 

further reductions. 
 

 

 

Objective 5.3 Strategies 

Strategy 5.3.A Management and Bureau 

Contracting Officers 

Improve the acquisition lifecycle. 

Measures and Indicators of Success: 

• Percentage of procurements using Category

Management or Best in Class vehicles 

• Obligations and number of procurement

actions processed by quarter 

Strategy 5.3.B Management and Treasury 

Continuous Process Improvement Community 

Drive efficiencies through continuous 

process improvement. 

Measures and Indicators of Success: 

• Process improvement projects completed

and projected savings 

• Cost per unit (Bureau of Engraving and

Printing and the U.S. Mint) 

• Paperless collections and payments

(Bureau of the Fiscal Service) 

• Cost to collect $100 (Internal Revenue

Service) 

• Enterprise self-assistance participation

rate (Internal Revenue Service) 

Strategy 5.3.C Management, Treasury 

Organizational Performance Management 

Community, and Treasury Data Communities 

Employ robust organizational 

performance management, supported by 

data analytics. 

Measures and Indicators of Success: 

• Percent of positive responses to the Federal

Employee Viewpoint Survey question on 

managers’ communicating goals and priorities 

• Automated collection and periodic refresh of

key data and analytics 

• Consolidated oversight of 90 percent of

desired data within Treasury 

Strategy 5.3.D Management and Treasury 

Operations Community 

Identify opportunities to further 

consolidate office space to reduce 

footprint driven by reform efforts and 

organizational changes. 

Measures and Indicators of Success: 

• Utilization Rate (facility usable square feet

per person) 

• Number of Treasury leases 

Support Strategy 5.3.E Management and 

Treasury Franchise Fund 

Customers achieve their mission by 

optimized funding, regardless of source. 

Measures and Indicators of Success: 

• Consolidated budget cycles 

• Average annual rate change 

Support Strategy 5.3.F Management and 

Treasury Continuous Process Improvement 

Community 

Develop process improvement 

professionals. 

Measures and Indicators of Success: 

• Proportion of trained and certified process

improvement professionals in each Treasury

organization 

Objective 5.3 Customer Value 41 
42 

 

 

 

 

 

 

Department of the Treasury Strategic Plan 2018–2022 

Tracking Progress & Annual Updates
 

Tracking Progress 

The Government Performance and Results Act of 

1993 (GPRA) and the GPRA Modernization Act 

of 2010 established the need for agencies to identify performance goals, report progress against

targets, and conduct data-driven reviews. These

practices serve two key purposes for stakeholders within and outside of the organization: to

assess the organization’s health and impact, and

to inform decision-making and strategy (including effective resource allocation). In this spirit,

we developed a strategic framework supported

by best-in-class organizational performance

practices to help achieve the Department’s strategic objectives. 

Our organizational performance reviews provide a regular forum for open dialogue and 

coordination between Department and bureau

and office leadership, bringing together different

perspectives to set and align priorities, identify

and solve problems,review agency performance

goals, and drive evidence-based decisions and 

results. The cycle integrates statutory requirements to conduct organizational performance 

reviews of agency strategic objectives, agency

priority goals, and cross-agency priority goals. 

Annual Updates 

Each year following the SOAR, we will provide an annual update to the strategic plan to

highlight any shifts in strategies or objectives 

resulting from our analysis of outcomes, success

criteria, and other evidence. 

Treasury’s Annual Organizational Performance Review Cycle 

Accountability Processes Tracking Progress & Annual Updates 

Fall 

(October – November) 

Winter 

(February – March) 

Spring 

(April – May) 

Summer 

(June – July) 

Focus

Organizational 

Performance 

Strategic Objective 

Annual Review (SOAR) 

Organizational 

Performance Budget 

Chair 

Chief Operating Officer/ 

Assistant Secretary 

for Management 

(ASM) – Performance 

Improvement 

Officer (PIO) 

ASM – PIO/ 

Deputy PIO 

Chief Operating Officer/ 

ASM – PIO ASM – PIO 

Goals/Outcomes 

• Review prior year’s

performance at the

bureau/office level

• Set priorities for

year ahead

• Recognize

successes

• Evaluate crossagency progress

toward strategic

objectives

• Identify strategic

shifts/validate

Treasury priorities

• Outline potential

topics for annual

review with OMB

• Assess progress on

priorities

• Identify necessary

adjustments/nearterm improvements

• Surface problems or

assistance needed

• Recognize

successes

• Connect priorities to

future funding

• Explore

performance

impacts

• Strengthen IT

acquisition,

budgeting, and

accountability
THE 

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EPARTMENT OF THE TREA

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