Resolution Trust Corporation: Interim Report on the Management Reforms in
the RTC Completion Act (Letter Report, 06/30/94, GAO/GGD-94-114).

Although the Resolution Trust Corporation (RTC) has begun implementing
each of the 21 management reforms mandated by the RTC Completion Act,
more work remains on most of the reforms. RTC has completed action on
two reforms, which involved hiring individuals to serve as the Chief
Financial Officer and the Vice President for Minority and Women's
Programs. Also, the Department of Minority and Women's Programs was
designated a division and the Vice President heading it was appointed to
the RTC Executive Committee. The nature of three reforms requires RTC to
monitor their implementation to ensure full compliance. These reforms
include maintaining the comprehensive business plan, assessing the
effectiveness of RTC's internal controls, and ensuring that vacancies in
senior positions are filled promptly. Work is in progress to implement
the remaining 16 reforms, including the establishment of an audit
committee by the Thrift Depositor Protection Oversight Board. Progress
on these reforms, however, varies considerably. Actions in progress
include drafting an interim final rule of asset disposition methods and
a final rule of minority- and women-owned business contracting
procedures; revising and issuing procedures, policies, manuals, and
directives for contracting and asset disposition activities; and
increasing efforts to implement audit recommendations and correct
internal control weaknesses.

--------------------------- Indexing Terms -----------------------------

 REPORTNUM:  GGD-94-114
     TITLE:  Resolution Trust Corporation: Interim Report on the 
             Management Reforms in the RTC Completion Act
      DATE:  06/30/94
   SUBJECT:  Federal agency reorganization
             Management information systems
             Internal controls
             Personnel management
             Total quality management
             Accounting procedures
             Property disposal
             Risk management
             Minority business assistance
IDENTIFIER:  TQM
             
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