In the fall of 2014, the U.S. Department of Housing and Urban Development (HUD) engaged LinkVisum Consulting Group (LinkVisum) and the National Academy of Public Administration (the Academy) to develop a strategic framework to support HUD’s financial management transformation. The key objectives of this project were to:
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The Academy convened a Panel of experts, consisting of former CFOs and financial management experts drawn from the public and private sectors and academia, to guide this six-month study.
The Academy Panel and study team presented a number of assessment findings and recommendations to improve HUD’s financial management. Specifically, the Panel recommends HUD establish an internal CFO Council and a Financial Control and Analysis unit to improve financial management governance and oversight. To ensure a successful transition to SSP, HUD should thoroughly document business requirements and processes for financial functions; focus on data management; and validate scope, feasibility, and priority of subsequent SSP transition phases. To strengthen its finance workforce, HUD should identify its future workforce needs, determine competency gaps, and develop workforce and change management plans to ensure the success of the department’s financial management transformation.