Office of Financial Management Systems

The Office of Financial Management Systems strives to satisfy its customers by providing financial information solutions through a fully integrated financial management system.

Mission

The Office of Financial Management Systems (OFMS) strives to provide the best, most cost-effective, secure financial systems platform in the Federal government. An integral component of this mission is the need to develop and sustain an effective system of internal controls designed and implemented to ensure the confidentiality, integrity, and availability of OCFO-managed systems, consistent with Federal financial system requirements, Federal accounting standards, and transactional accounting guidelines.

OFMS’ value proposition is to provide timely and high-quality professional financial systems support to internal and external clients, enabling them to focus on accomplishing their core missions without dedicating significant resources to addressing financial systems-related requirements, such as transaction processing, financial data management and reporting, and financial systems security.

Strategic Goals

In keeping with its mission, OFMS has identified the following Long-term Outcome Goal:

  Provide financial systems that are secure, reliable, compliant, and meet customer needs at the lowest cost, as evidenced by meeting or exceeding the four key performance   goals for outstanding financial systems management.

The four Performance Goals are as follows:

  • Maintain a consistently reliable financial systems platform by achieving 98% or higher availability of the core financial applications at all times. The core financial applications include Pegasys, PAR, and NEAR.

  • Replace the functionalities remaining in NEAR and other legacy financial management systems with COTS-based solutions that conform to the FMEA-SOA to the extent possible, while maximizing performance and adaptability and minimizing support and maintenance costs. Complete major development initiatives successfully within 20% of project baseline Earned Value Management (EVM) targets.

  • Leverage enterprise-wide best practices to ensure compliance with changing legal and regulatory requirements, and the security and integrity of all OCFO systems and data by achieving a performance rating of 95% or higher on the eight key initiatives included in the Security and Integrity Index.

  • Achieve a 15% reduction in the average Cost per Transaction by 2014, through the upgrade and modernization of the core financial systems and increased transaction volumes, resulting in containment of operations and maintenance costs.

Reporting Offices

  • Enterprise Management Division
  • Policy and Integrity Division
  • Application Development Division
  • Financial Management Systems Operations and Maintenance
  • Financial Administrative Systems Division
  • Infrastructure and Technical Support Division
  • Client Services and Reports Management Division
Last Reviewed 4/30/2009