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The FY 2012 Budget for Agency Direction is $11,819,000 and 38 FTE. No additional resources are requested to implement Dodd-Frank.

The Agency Direction program is requesting no additional resources to implement Dodd-Frank authorities.

The Office of the Chairman and the Commissioners provide executive direction and leadership to the Commission—specifically, as it develops and adopts agency policy that implements and enforces the CEA and amendments to that Act, and the Dodd-Frank Act. Commission policy is designed to foster the financial integrity and economic utility of commodity futures and option markets for hedging and price discovery, to conduct market and financial surveillance, and to protect the public and market participants against manipulation, fraud, and other abuses. Executive leadership, in this regard, is the responsibility of the Chairman and Commissioners and includes the Offices of the Chairman: the Office of Public Affairs; the Office of Legislative Affairs; the Enterprise Risk Group; the Office of Inspector General; and the Office of Equal Employment Opportunity.

In addition to its new authorities, the Commission has undertaken a number of high priority programmatic initiative with resource implications for FY 2012, these include: 1) improving regulatory coordination with other agencies such as the SEC and FERC; 2) publishing quarterly and eventually monthly reports on commodity index trading; 3) rapid expansion of mission critical information systems that can integrate large trader data with intraday trades and account ownership data to improve CFTC oversight of trading and better deter fraud and manipulation; 4) implementing improvements to the Commission’s Web site—http://www.cftc.gov; 5) increasing the frequency of reviews and audits of Commission registrants, and; 6) improving resource utilization through technology modernization, improved resource justification and improve program performance.

In FY 2012, the Agency Direction program requests a total of 38 FTE, an increase seven over the FY 2011 level. The four of the seven positions are required to ensure that each Commissioner’s office has a minimum staff of four including the position of the Commissioner. The increase of four FTE for FY 2012 represents the difference in actual FTE usage in FY 2011, under a yearlong Continuing Resolution, and the number of FTE required in FY 2012. This increase does not represent new growth for the Offices of the Commissioners but a restoration to historical FTE levels.

Three new FTE are allocated for the establishment of the Enterprise Risk Group. The Enterprise Risk Group staff will focus on developing and employing methods and processes to manage risks related to the achievement the Commission goals. Specifically, identifying particular events or circumstances they may affect the integrity of Nation’s futures markets, and assessing them in terms of likelihood and magnitude of impact, determining a response strategy, and monitoring progress. In short, the object is to proactively address risks and opportunities and thereby protect the integrity of the futures markets, market participants, consumers, the public, and the Nations’ financial stability.

Agency Direction Request by Subprogram
($ in thousands)

Subprogram	FY 2011		FY 2012		Change
	Budget	FTE	Budget Request	FTE	Budget	FTE
Agency Direction1	$7,819	31.00	$11,819	38.00	$4,000	7.00
TOTAL	$7,819	31.00	$11,819	38.00	$4,000	7.00

Dodd-Frank Included Above in Agency Direction Request
($ in thousands)

Program Activity	FY 2011		FY 2012		Change
	Budget	FTE	Budget Request	FTE	Budget	FTE
Dodd-Frank2	$0	0.00	$0	0.00	$0	0.00
TOTAL	$0	0.00	$0	0.00	$0	0.00

Agency Direction Request by Goal
($ in thousands)

Outcomes	FY 2011		FY 2012		Change
	Budget	FTE	Budget Request	FTE	Budget	FTE
GOAL ONE: Protect the economic functions of the commodity futures, options and swaps markets.
None
GOAL TWO: Protect market users and the public.
None
GOAL THREE: Foster open, competitive, and financially sound markets.
None
GOAL FOUR: Organizational and Management Excellence.
4.1 A productive, technically competent, competitively compensated, and diverse workforce that takes into account current and future technical and professional needs of the Commission.	$0	0.00	$0	0.00	$0	0.00
4.2 A modern and secure information system that reflect the strategic priorities of the Commission.	0	0.00	0	0.00	0	0.00
4.3 An organizational infrastructure that efficiently and effectively responds to and anticipates both the routine and emergency business needs of the Commission.	0	0.00	0	0.00	0	0.00
4.4 Financial resources are allocated, managed and accounted for in accordance with the strategic priorities of the Commission.	0	0.00	0	0.00	0	0.00
4.5 Commission’s mission is fulfilled and goals are achieved through sound management and organizational excellence provided by executive leadership.	7,819	31.00	11,819	38.00	4,000	7.00
Subtotal Goal Four	$7,819	31.00	$11,819	38.00	$4,000	7.00
TOTAL	$7,819	31.00	$11,819	38.00	$4,000	7.00

 

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