City-Wide Ethics Training
In 2015, the Ethics Review Board of a major municipality retained The Hackett Group to design and provide ethics training on its behalf. Our task is to insure that public officials and employees not only meet but exceed the ethics training requirements contained in City and State statutes. This far-reaching project is ongoing - the Code applies to all officials of the government of the City, whether elected or appointed; all employees, whether classified or unclassified; and all members and/or employees of all boards, agencies, commissions, advisory committees, public trusts, and public benefit corporations of the City.
State Retirement System Operational Audit: Credit/Debt Strategy Investments
In 2015, The Hackett Group was retained by a $45 billion state retirement system to assist its Internal Audit staff in performing an operational audit of its credit/debt strategy investments. Our role was the subject matter expert in the area of Credit/Debt Strategy investments. The audit scope included an assessment of the adequacy of operational processes performed for the System’s $4 billion credit/debt strategy investments, focusing on:
• initial due diligence for manager selection;
• monitoring and oversight of positions;
• valuation, recordation, and reporting; and
• compliance with manager and fund investment guidelines and contracts
Specific tasks included identification of risks and controls; testing controls; and reporting to the Audit Staff, Investment Staff, as well as the state's Audit Committee.
City Retirement and Firefighters' Pension Review
The Hackett Group was retained by a $380 million municipal retirement system and a $280 million pension fund to complete an operational and investment analysis. Our team reviewed the complete portfolio, of over 40 separate Equity, Fixed and Alternative accounts. We also reviewed the funds' investment policy statements and governance processes, to ensure compliance. This included a review of actuarial assumptions of the pension plans, recommendations of possible modifications to benefits, and a full assessment of the proposed modifications on funding ratios and contributions. The City made key policy and legislative decisions based on our analysis and recommendations.
In 2012, the Hackett Group was engaged as a strategic partner and team member in a project designed to create a One-Stop Permitting/Licensing Process Improvement Project for a major city in the South. The project's scope included researching and confirming the City’s catalogue of permits, drafting “as is” process maps with department users and developing “to be" optimized processes within department users. During the development of the process maps, both internal and external stakeholders were engaged in facilitated sessions. In this phase of the project, The Hackett Group developed key performance indicators against which the one-stop units’ performance was to be measured.