GO-TIME: DoBS Links Efficiency and Innovation in 3 Initiatives
December 20, 2017
Harrisburg, PA – Secretary of Banking and Securities Robin L. Wiessmann today announced three GO-TIME initiatives for fiscal year 2017-18 that join efficiency in administrative practices with innovation in financial education and outreach to businesses.
“My colleagues at the Department of Banking and Securities have risen to meet the challenges of the innovative GO-TIME approach promoted by Governor Wolf,” Wiessmann said. “GO-TIME has given us the inspiration and opportunity to revisit our business approach and strategies to find ways to become more efficient while maintaining our vital role as a regulatory body.”
The three GO-TIME projects Wiessmann cites are:
- Utilizing an electronic license renewal process for auto sales finance companies, eliminating paper and postage for more than 6,000 mailings each year, resulting in cost savings of approximately 65 cents per mailing as well as convenience to regulated entities;
- Implementing an industry cybersecurity “best practice” by installing secure, centralized network printing in the department’s offices, which could lead to the elimination of smaller, decentralized printing operations; and
- Reviving and sponsoring Compliance 2017, a statewide securities conference last held in Pennsylvania in 2011. This conference, hosted on October 26, 2017, provided a cost-neutral outreach to business professionals, involving about 200 regulators, investment advisers, legal, and compliance professionals.
Since the inception of GO-TIME, the department has launched seven other initiatives with identified cost savings of $105,115 in FY 16/17. More information on the department’s GO-TIME initiatives can be found online: www.governor.pa.gov/wp-content/uploads/2017/10/20171011-GO-TIME-projects-16-17.pdf
GO-TIME is working to modernize government operations to reduce costs and improve services. GO-TIME works with agencies to identify opportunities to share resources, collaborate and engage employees in transformation.
To learn more about GO-TIME, visit www.governor.pa.gov/go-time