Managing Financial Risk in Government

Efficient and effective financial management is an essential way U.S. federal agencies serve the American people and protect the interests of taxpayers. Managing financial risk in government is more than a compliance exercise; it goes to the core of agency mission delivery. Strengthening financial risk management aligns with the government’s goals of minimizing waste, fraud, abuse, and mismanagement while also enabling government leaders to improve efficiency, increase transparency, and enhance decision-making.

Financial Management for the Future: How Government Can Evolve to Meet the Demands of a Digital World

Government can leverage emerging technologies and processes to modernize financial systems.

In recent months, major changes in Federal Government policies around financial management and related shared services have occurred, and agencies are piloting innovative approaches to modernize financial systems.

Karin O’Leary

Karin O'Leary is an Associate Partner with IBM’s Global Business Services, U.S. Federal Team as an industry consultant for Homeland, Justice and Foreign Affairs. Karin is an expert in federal budgeting and financial management, shared services, and change management. She has extensive experience in managing complex organizational change in federal agencies, with over 25 years of government service. In June 2019, Karin was named as a Fellow for The Center for the Business of Government.

Will Congress Enact Improvements to the Federal Budget Process?

Since the enactment of the Budget Control Act (BCA) of 2011, Congress has encountered greater difficulty in passing spending legislation by not having enough votes to either raise the BCA caps or pass appropriations bills. In the spring of 2018, Speaker Ryan offered a compromise through the Bipartisan Budget Act of 2018 that raised the caps for fiscal years 2018 and 2019, and created the Joint Select Committee with an equal number of members of both political parties.

Associate Partner
IBM Global Business Services

Karin O'Leary is an Associate Partner with IBM’s Global Business Services, U.S. Federal Team as an industry consultant for Homeland, Justice and Foreign Affairs. Karin is an expert in federal budgeting and financial management, shared services, and change management. She has extensive experience in managing complex organizational change in federal agencies, with over 25 years of government service. In June 2019, Karin was named as a Fellow for The Center for the Business of Government.

Before joining IBM in June 2018, Karin was a career executive in both the Judicial and Executive branches of government. She was the Chief Financial Officer of the Judicial Branch, where she led a team that implemented a single financial and procurement system to over 450 court locations in 3 years and transitioned local disbursing to the U.S. Treasury. Before that, Karin was the Budget Director for the U.S. Department of Justice for nearly a decade, with responsibility for developing, promoting, and executing a budget exceeding $30 billion per year, as well as departmental strategic planning and performance management. Karin also held senior positions at the Drug Enforcement Administration, and the Court Services and Offender Supervision Agency for the District of Columbia, which she helped to establish. She began her federal public service career at the Corporation for National and Community Service and, prior to that, worked at the local level for the Lackawanna County Government in PA.

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