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Investment Details

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Investment Description

RSS is a consolidated investment containing multiple systems and applications to support the two primary missions of the Retail program: (1) sell and service U.S. Treasury securities held directly by private individuals and organizations, and (2) manage the Judgment Fund appropriation used to pay most court settlements and Justice Department compromise settlements against the United States.
Agency Department of the Treasury
Point of Contact Tony Arcadi - CIO email Not Provided
Investment Type Major IT Investments
Bureau Fiscal Service
Mission Support Not Applicable
Shared Service Category Not Applicable
Shared Service Identifier Not Applicable
TMF Initiatives
  • Not Applicable
FY 2025 IT Spending $101.55 M
Current CIO Rating 3
Data As Of: 11/25/2024

Total Projects

6

Cost Variance

  • 6Low
  • 0Medium
  • 0High

Schedule Variance

  • 2Low
  • 2Medium
  • 2High

Cost Variance

  • Low: Projects that have <10% Cost Variance
  • Medium: Projects that have ≥10% and <30% Cost Variance
  • High: Projects that have ≥30% Cost Variance
Cost Variance: ((Planned Total Costs - Projected or Actual Total Costs) / Planned Total Cost) x 100

Schedule Variance

  • Low: Projects that have <10% Schedule Variance
  • Medium: Projects that have ≥10% and <30% Schedule Variance
  • High: Projects that have ≥30% Schedule Variance
Schedule Variance: ((Planned Completion Date - Projected or Actual Completion Date) / Project Duration) x 100

Cost and Schedule Variance color coding is based on absolute values. For example, a +40% variance and a -40% variance are both High/Red.
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Download: Project and Variance Source Data (CSV)
  • This section displays the Chief Information Officer (CIO) Risk ratings for the investment. CIOs rate each investment using a set of pre-established criteria and issue a CIO Evaluation Number that reflects the investment’s ability to accomplish its goals within the current fiscal year. This number ranges from 1 - 5, and the higher it is, the better the investment has been rated to meet its goals.
    CIO Rating Date Comments
    3 Nov 25, 2024 CV: SV: OMV: 19.33% OVERALL: -0.33% (Green) TRIM - work continues on the MFA compliance and savings bonds purchases, issues and accruals, SMS, Redemptions, Judgement disbursements, savings bond transfers and reports. PEP – TRES/Siebel CRM Replacement – work continues on PI-1 Development and standup of cloud systems. PI-2 is starting. (11/25/2024).
    3 Oct 28, 2024 CV: SV: OMV: -0.53% OVERALL: -10.27% (Yellow) One red metric: Percent of Domestic Judgment Fund Payments Processed within Service Level Objective (Actual 81% vs target of 95%). Bureau attributes uptick in claims inventory due to team focus on testing for the new JFICS and the pause in claim processing from 08/05/2024 to 08/12/2024 to allow for full claim data migration from old system to new system. (10/28/2024).
    3 Aug 29, 2024 CV: SV: OMV: 6.55% OVERALL: -6.72% (Green) SBVV - Fraud Missed 5/7/24 Prod move, now 5/19/24. Next Production move is scheduled for 7/25/24. Last prod move should be 8/6/24 TRIM - work continues on the MFA compliance and savings bonds purchases, issues and accruals, SMS, Redemptions, Judgement disbursements, savings bond transfers and reports. PEP – TRES/Siebel CRM Replacement – Vendor onboarding complete. (08/29/2024).
    3 Jul 24, 2024 CV: SV: OMV: 5.90% OVERALL: -7.05% (Green) SBVV - Fraud Missed 5/7/24 Prod move, now 5/19/24. Next Production move is scheduled for 7/25/24. TRIM - has been updated with the rebaselined schedule and cost estimates. Work being done with MFA Compliance and reporting is being completed for relevant management groups. PEP – TRES/Siebel CRM Replacement – project has officially started. (07/24/2024).
    3 Jun 27, 2024 CV: SV: OMV: 5.07% OVERALL: -7.47% (Green) SBVV - Fraud Missed 5/7/24 Prod move, now 5/19/24. Next Production move is scheduled for 7/12/24. TRIM is still being evaluated for new milestones and projected costs. Progress is still not as expected but discussions are being done to optimize the resources with the remaining work. REGII – the project is now closed out. PEP – TRES/Siebel CRM Replacement – project has officially started. (06/27/2024).
    3 May 30, 2024 CV: SV: OMV: 3.95% OVERALL: -8.02% (Green) SBVV - Fraud Missed 5/7/24 Prod move, now 5/19/24. TRIM is still being evaluated for new milestones and projected costs. Progress is still not as expected but discussions are being done to optimize the resources with the remaining work. REGII – the project is now in closeout activities and is forecasted to be completed at the end of May. PEP – TRES/Siebel CRM Replacement – project is forecasted to be started officially on June 3. (05/30/2024).
    3 Apr 29, 2024 CV: SV: OMV: 5.16% OVERALL: -7.42% (Green) Calls answered within 5 minutes metric did not meet target (70% vs 80% target.) Adding additional agents to support Contact Center. Efforts underway to cross train vendor to handle additional queues. Volume of incoming case work is compromising customer service performance. Incoming redemption cases exceed levels above capacity. A plan is in place to move resources to focus on complex cases to reduce the complex inventory bucket. (04/29/2024).
    3 Mar 29, 2024 CV: SV: OMV: 3.38% OVERALL: -8.31% (Green) The percentage of calls answered within five minutes was the only metric not to reach a result within a tolerable range (67% vs 80% target.) The call volumes were elevated this month due to purchase limit resets and the start of tax season. As previously reported - the volume of incoming case work continues to compromise customer servicing performance. Incoming redemption cases continue to exceed levels above the staff’s capacity. (03/29/2024).
    3 Feb 28, 2024 CV: SV: OMV: 3.95% OVERALL: -8.03% (Green) The percentage of calls answered within five minutes was the only metric not to reach a result within a tolerable range. The call volumes were elevated this month due to purchase limit resets and the start of tax season. As previously reported - the volume of incoming case work continues to compromise customer servicing performance. Incoming redemption cases continue to exceed levels above the staff’s capacity. (02/28/2024).
    3 Jan 31, 2024 CV: SV: OMV: 8.83% OVERALL: -5.58% (Green) The investment met or was within tolerable variance of the performance goals for its key metrics. The volume of incoming case work continues to compromise customer servicing performance. Incoming redemption cases continue to exceed levels above the staff’s capacity. During the next several months, a plan has been put into place to move resources to focus on complex cases to reduce the complex inventory bucket. (01/31/2024).
    3 Dec 04, 2023 CV: SV: OMV: 8.83% OVERALL: -5.58% (Green) Improvement from Oct as investment was rebaselined. Volume of incoming case work continues to compromise customer servicing performance. Interest rates for Series I savings bond have dropped, cooling workload related to new security sales; incoming redemption cases continue to exceed levels above staff capacity. Decreasing participation rates of private financial institutions to process savings bond redemptions increases caseload. (12/04/2023).
    3 Oct 30, 2023 CV: -65.24% SV: 1.58% OMV: 9.50% OVERALL: -18.54% (Yellow) The TRIM project schedule has been changed to accommodate evolving business requirement. The new proposed baseline has not been approved by the Bureau’s Governance boards. Consequently, the project’s baseline in SPIKE cannot be updated until approval is granted. The revised schedule has superseded the current baseline in SPIKE. So, further updates cannot be provided until the baseline in SPIKE has been updated. (10/30/2023).
    3 Sep 28, 2023 CV: -65.24% SV: 1.58% OMV: 8.83% OVERALL: -18.71% (Yellow) The TRIM project schedule has been changed to accommodate evolving business requirements. The new proposed baseline has not been approved by the Bureau’s Governance boards, thus the project’s baseline cannot be updated until approval is granted. The revised schedule has superseded the current baseline in SPIKE. Further updates cannot be provided until the baseline in SPIKE has been updated. 2 of 5 metrics are red. (09/28/2023).
    3 Aug 29, 2023 CV: -65.24% SV: 1.58% OMV: 8.83% OVERALL: -18.54% (Yellow) The TRIM project schedule (reason for the SV) has been changed to accommodate evolving business requirements. The new proposed baseline has not been approved by the Bureau’s Governance boards, thus the project’s baseline in SPIKE cannot be updated until approval is granted. The revised schedule has superseded the current baseline in SPIKE. Further updates cannot be provided until the baseline in SPIKE has been updated. (08/29/2023).
    3 Jul 25, 2023 CV: -65.24% SV: 1.58% OMV: 9.50% OVERALL: -18.54% (Yellow) Volume of in-coming case work continues to compromise customer servicing performance. Interest rates for Series I savings bonds has dropped, cooling workload related to new security sales; incoming redemption cases continue to exceed levels above the staff’s capacity. Retail received Governance approval to hire additional CS staff to handle increased workload. Efforts initiated to hire and onboard new staff members. (07/25/2023).
    3 Jun 30, 2023 CV: -65.24% SV: 1.58% OMV: 9.50% OVERALL: -18.54% (Yellow) BCIO Rating lowered to 1 due to lack of visibility into long-term business strategy and reqmts for moving legacy systems off Mainframe to include decommissioning of Treasury Direct. High risk to the TRIM/MyTreasury project due to ongoing challenges related to delivery of core functionality, coding, defects, testing, and environments. IVV underway to assess opportunities to improve processes and controls. (06/30/2023).
    3 May 30, 2023 CV: -65.24% SV: 1.58% OMV: 10.33% OVERALL: -18.33% (Yellow) Variances: The TRIM project schedule has been changed to accommodate evolving business reqmts. The new proposed baseline has not been approved by the Bureau’s Governance boards. Consequently, the project’s baseline in SPIKE cannot be updated until approval is granted. The revised schedule has superseded the current baseline in SPIKE. So, further updates cannot be provided until the baseline in SPIKE has been updated. (05/30/2023).
    3 Apr 26, 2023 CV: -65.24% SV: 1.58% OMV: 10.33% OVERALL: -18.33% (Yellow) Variances: The TRIM project schedule has been changed to accommodate evolving business reqmts. The new proposed baseline has not been approved by the Bureau’s Governance boards. Consequently, the project’s baseline in SPIKE cannot be updated until approval is granted. The revised schedule has superseded the current baseline in SPIKE. So, further updates cannot be provided until the baseline in SPIKE has been updated. (04/26/2023).
    4 Mar 28, 2023 CV: -76.60% SV: -22.89% OMV: 11.17% OVERALL: -23.96% (Yellow) The TRIM project schedule has been changed to accommodate evolving business requirement. The new proposed baseline has not been approved by the Bureau’s Governance boards. Consequently, the project’s baseline in SPIKE cannot be updated until approval is granted. The revised schedule has superseded the current baseline in SPIKE. So, further updates cannot be provided until the baseline in SPIKE has been updated. (03/28/2023).
    4 Feb 28, 2023 CV: -76.15% SV: -27.11% OMV: 10.50% OVERALL: -25.07% (Yellow) the TRIM project schedule has been changed to accommodate evolving business requirement. The new proposed baseline has not been approved by the Bureau’s Governance boards. Consequently, the project’s baseline in SPIKE cannot be updated until approval is granted. The revised schedule has superseded the current baseline in SPIKE. So, further updates cannot be provided until the baseline in SPIKE has been updated. (02/28/2023).
    4 Jan 25, 2023 CV: -76.15% SV: -27.11% OMV: 11.00% OVERALL: -24.94% (Yellow) The development velocity of the TRIM project Rel 1 Marketables Security functionality is significantly less than projected, based on Jan 2019 projections. This is due in large part to staffing challenges resulting from the "Great Resignation" national work environment. Additional budget requirements are being discussed in July thru Sept. New velocity baseline will be established following Sept ESB. (01/25/2023).
    4 Dec 22, 2022 CV: -76.15% SV: -27.11% OMV: 16.67% OVERALL: -23.52% (Yellow) Cost variance due to a change in the IT service provider’s cost allocation method (the Federal Reserve). Overhead and indirect costs are now allocated down to the project and activity level, which was not done when the baseline’s costs were estimated. This change has increased the cost for all Bureau customers of the Federal Reserve. Schedule variance due to the TRIM project, which is being rebaselined. (12/22/2022).
    4 Nov 22, 2022 CV: -91.98% SV: -27.11% OMV: 24.17% OVERALL: -25.61% (Yellow) PPMI remains RED. The program is in the process of reconciling variables that have deteriorated the current program status for scope and budget from yellow to red, also impacting previously communicated Get to Green plan activities. Key program stakeholders met in person in June to determine appropriate path forward. All work beyond the current planned check functionality is paused alternatives evaluation. (11/22/2022).
    4 Oct 25, 2022 CV: -1.12% SV: -51.03% OMV: -18.30% OVERALL: -19.49% (Yellow) The high SV is being caused by recent changes in the schedule for the TRIM project. An error in the baseline has generated a false-negative variance of -231 days. Once reliable financial forecasts for the project are made available, a BCR to update the baseline and correct errors will be submitted. The high OMV is being caused by degradation in several of the investment’s customer service metrics. (10/25/2022).
    4 Sep 29, 2022 CV: -1.12% SV: -47.39% OMV: -17.80% OVERALL: -18.45% (Yellow) SV caused by recent changes in TRIM project schedule. Tentatively approved mitigation shifted milestone completion dates from early May to mid-Oct 2022. In addition, there was an entry error resulting in a SV that will be addressed with a BCR. High OMV caused by degradation in investment’s customer service metrics. Please see Bureau comment for more detail. (09/29/2022).
    4 Aug 23, 2022 CV: -1.12% SV: -43.62% OMV: -16.68% OVERALL: -17.23% (Yellow) Unchanged from July: SV caused by recent changes in TRIM project schedule. Tentatively approved mitigation shifted milestone completion dates from early May to mid-Oct 2022. In addition, there was an entry error resulting in a SV that will be addressed with a BCR. High OMV caused by degradation in investment’s customer service metrics. Please see Bureau comment for more detail. (08/23/2022).
    4 Jul 25, 2022 CV: -1.12% SV: -39.85% OMV: -15.64% OVERALL: -16.03% (Yellow) SV caused by recent changes in TRIM project schedule. Tentatively approved mitigation shifted milestone completion dates from early May to mid-Oct 2022. In addition, there was an entry error resulting in a SV that will be addressed with a BCR. High OMV caused by degradation in investment’s customer service metrics. Please see Bureau comment for more detail. (07/25/2022).
    4 Jun 22, 2022 CV: -1.12% SV: -36.21% OMV: -12.39% OVERALL: -14.31% (Yellow) SV caused by recent changes in TRIM project schedule. Tentatively approved mitigation shifted milestone completion dates from early May to mid-Oct 2022. The “MUD Solution Project also has a significant SV. High OMV caused by degradation in investment’s customer service metrics. Retail customer service has encountered a significant increase in workload triggered by high interest rates for Series I savings bonds. (06/22/2022).
    4 May 31, 2022 CV: -1.12% SV: -32.44% OMV: -9.86% OVERALL: -12.73% (Yellow) SV is caused by recent changes in the schedule for the TRIM and MUD projects. The tentatively approved mitigation has shifted milestone completion dates from early May to mid-Oct 2022. High OMV is caused by degradation in the investment’s customer service metrics. Retail customer service has encountered a significant increase in workload triggered by high interest rates for the Series I savings bonds. (05/25/2022).
    4 Apr 22, 2022 CV: -1.12% SV: -8.63% OMV: -4.54% OVERALL: -5.45% (Green) Two metrics performing poorly: % Cases Processed within SLO yellow; Cases that Can Still Meet SLO is red. Both affected by workload increase triggered by high interest rate for Series I savings bond. This situation is further compounded by the usual spike in customer calls during tax season. TRIM project activity, Rel 1 Deployment, has not begun. This activity should have been deleted when the BY23 BCR was created. (04/21/2022).
    Download: Historic CIO Rating Source Data (CSV)
  • The Investment Details section views help answer questions about how an investment's financial resources are being utilized, and which funds are being assigned.
    Download: Investment Spending Details Source Data (XLSX)
  • The IT spending visualization below provides the selected IT investment's spending over 5 fiscal years. The IT Investment's spending is further broken down by Operations & Maintenance (O&M) and Development, Modernization, and Enhancement (DME). For each listed fiscal year you will see:
    • Requested amount - The IT $ amount the agency requested from Congress in the President's budget request for that fiscal year.
    • Enacted amount - The IT $ amount Congress actually funded through that fiscal year's appropriation.
    • Actual amount - The IT $ amount the agency actually spent that fiscal year based on what was appropriated by Congress.
    The availability of data for each fiscal year will depend on where in the federal budget process we currently are, and will continue to be updated as the annual appropriations process progresses.

    Download: Investment Spending Details Source Data (XLSX)
  • Project Name Project UID Status Planned Total Cost ($M) Cost Variance (%) Planned Start Date Planned End Date Schedule Variance (%) Schedule Variance (Days) TMF Initiative
    Accrual Bond Payment System (ABPS) Project 202050 Complete 0 7.7 29 29 Not Applicable
    Treasury Retail Investment Manager (TRIM) 202284 In Progress 231.63 0 2019-01-19 2027-06-30 0 0 Not Applicable
    Matured & Unredeemed Debt (MUD) Solution 202436 Completed 12.6 0 2020-10-01 2023-02-20 2.8 2.8 Not Applicable
    REGII Mainframe Migration 202757 Completed 0.58 0 2022-06-07 2024-01-31 -19 -19 Not Applicable
    SBVV - Fraud 202758 Completed 0.19 -93 2023-10-03 2024-05-07 -42 -42 Not Applicable
    PEP - TRES/Siebel CRM Replacement 202759 In Progress 18.9 0 2023-07-11 2024-11-11 -160 -160 Not Applicable
    LowMediumHigh
    Download: Project Details Source Data (XLSX)
  • Metric Description Performance Measurement Category Unit of Measure Reporting Frequency Agency Baseline Capability Measurement Condition Target 2025 CY Latest Actual Result Date of Latest Actual Result Met Target
    Average turnaround time for a basic customer request regarding Retail Securities (Average Case Resolution time) Strategic and Business Results days Monthly Under target 30 23 2024-09-30 MET
    Percentage of calls answered within 5 minutes. Customer Satisfaction percent Monthly Over target 80 81 2024-09-30 MET
    Average turnaround time for a complex customer request regarding Retail Securities (Average Case Resolution time) Strategic and Business Results days Monthly Under target 90 74 2024-09-30 MET
    Percent of Security Payments Processed Accurately and Timely Financial Performance Percent Monthly Over target 100 100 2024-07-31 MET
    Percentage of cases that can still meet assigned 40 day SLO in the current inventory (Cases Meeting Days Assigned, based off Receipt Date) Strategic and Business Results Percent Monthly 80 Over target 80 2023-03-31 MET
    Percent of Unassisted Retail Securities Transaction Strategic and Business Results Percent Monthly 73 Over target 75 83 2024-09-30 MET
    Percent of Domestic Judgment Fund Payments Processed within Service Level Objective Strategic and Business Results Percent Monthly 85 Over target 95 81 2024-09-30 NOT MET
    Download: Performance Metrics Source Data (XLSX)