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Board of Governors of the Federal Reserve System
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Annual Performance Report 2015

Introduction

In 2012, the Board established a strategic framework that identified key areas that would require significant investments from 2012 through 2015 in order to best advance the mission of the Board. The Annual Performance Plan 2015 described the specific actions that the Board planned to take during 2015 in furtherance of its longer-term effort to accomplish the objectives laid out in the strategic framework.2 In addition to summarizing the specific progress made during 2015, this report provides a brief overview of the Board's most significant accomplishments throughout the strategic framework's four-year performance period.

The Board identified the following six themes in the strategic framework and used them to guide investments and actions during the four-year period:

  1. Continue building a robust interdisciplinary infrastructure for supervision, regulation, and monitoring risks to financial stability.
  2. Redesign data governance and management processes to enhance the Board's data environment.
  3. Establish a modern, safe work environment that emphasizes the need to maintain data quality and integrity and the importance of enhanced collaboration within the organization and with the public.
  4. Create a work environment built on market-oriented compensation and support for professional and personal achievement that allows the Board to attract and retain top talent, while re-enforcing collegiality.
  5. Strengthen management processes to enable effective implementation of strategic themes, increase operating efficiencies, and reduce administrative burden.
  6. Establish a cost-reduction approach and a budgetary growth target that maintains an effective and efficient use of financial resources.

Throughout the four-year period, senior leadership reassessed priorities to take into account changing circumstances, environmental factors, and trends. Resources were realigned accordingly.


References

2. The Annual Performance Plan 2015 is available on the Federal Reserve Board's website at www.federalreserve.gov/publications/annual-reportwww.federalreserve.gov/publications/gpra/files/2015-gpra-performance-plan.pdf. Return to text

Last update: May 17, 2016

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