“WHERE THE FEDERAL JOBS ARE”
FEDERAL AGENCY SERIES PART 5: WHAT YOU SHOULD KNOW ABOUT THE DEPARTMENT OF TREASURY
Secretary: Jacob J. Lew (2013 – present)
Headquarters: Washington, D.C. with many of the Bureaus having additional locations across the country. Certain offices tasked with international missions also have an overseas presence.
Mission: To maintain a strong economy and create economic and job opportunities by promoting the conditions that enable economic growth and stability at home and abroad, strengthen national security by combating threats and protecting the integrity of the financial system, and manage the U.S. Government’s finances and resources effectively.
Strategic Goals: For Fiscal Year 2014-2017, Treasury focused and aligned toward 5 primary strategic goals:
- Promote economic growth and stability while continuing reforms of the financial system
- Enhance U.S. competitiveness and job creation, and promote international financial stability and more balanced global growth
- Fairly and effectively reform and modernize federal financial management, accounting, and tax systems
- Safeguard the financial system and use financial measures to counter national security threats
- Create a 21st–century approach to government by improving efficiency, effectiveness, and customer interaction
Number of Civilian Employees: Over 100,000 employees. The IRS employs approximately 80% of Treasury’s staff. Other Departmental entities with a large number of employees are the Office of the Comptroller of the Currency and the Bureau of the Fiscal Service.
Department of Treasury Organization Structure: The Department’s Bureaus carry out specific operations and make up 98% of the Treasury workforce; offices have primary responsible for policy formulation and management. In the aftermath of 9/11 a number of former Treasury Department Bureaus were transferred in whole or in part to other agencies (e.g., to the Department of Homeland Security; to the Department of Justice).
TIP 1 – BEST PLACES TO WORK. Although the Department itself was ranked #16 among 19 large agencies, a number of its Bureaus and Offices received impressive rankings by the Partnership for Public Service as among the “Best Places To Work in the Government” in 2015. Of 320 Agency sub-components ranked: the Alcohol and Tobacco Tax and Trade Bureau was ranked #7; the Office of the Inspector General for Tax Administration was ranked #9; the Office of the Comptroller of the Currency was ranked #12.
- Alcohol and Tobacco Tax and Trade Bureau. Collects Federal excise taxes and assures compliance with Federal permitting, labeling, and marketing requirements. The Bureau employs 470 people across the country, including at Headquarters in Washington, D.C., at the National Revenue Center in Cincinnati, Ohio, and at its district offices. Analysts, chemists, investigators and auditors make up over half its staff. The Bureau also employs specialists in finance, law, information management, and computer science.
- Bureau of Engraving and Printing. Develops and produces U.S. currency (Federal Reserve) notes for delivery to the Federal Reserve System. Researches and develops automation to produce U.S. currency notes and defer counterfeit technologies. The Bureau has offices in Washington, D.C. and Fort Worth, Texas. Its approximately 1,700 employees include: chemists, engineers, attorneys, IT specialists, facilities support staff, acquisition specialists, police officers, security specialists, and administrative support personnel.
- Bureau of the Fiscal Service. Promotes the U.S. Government’s financial integrity and operational efficiency through accounting, financing, collections, payments, and shared services. Delivers inter-agency administrative services, financial management, and information technology services. The Bureau has three (3) locations in the Washington, D.C. area as well as financial centers in Philadelphia, PA and Kansas City, MO. It employs over 3,200 staff. Career opportunities exist for accountants, financial and business experts, government securities specialists, IT specialists, and administrative professionals.
- Community Development Financial Institution Fund. Increases economic opportunity and promotes community development investments for the Nation’s underserved populations and economically distressed communities. Careers include financial analysis, portfolio and loan management, financial management, compliance management, community development, program management, legal counsel, and information technology.
- Financial Crimes Enforcement Network. Safeguards the financial system from illicit use; combats money laundering; and promotes national security through collecting, analyzing, and disseminating financial intelligence. Builds global cooperation with counterpart organizations in other countries and with international bodies. Approximately 250 staff including law enforcement investigators, compliance specialists, financial transaction analysts, IT specialists, intelligence specialists and regulatory examiners.
- Inspector General. Provides leadership and coordination and recommends policies to prevent and detect fraud and abuse in Department programs and operations. Provides independent and objective reviews of the Department’s programs and operations; conducts audits, investigations, and evaluations. Oversees the operations of all Treasury Department Offices and Bureaus, with the exception of the IRS and the Troubled Asset Relief Program (TARP).
- Treasury Inspector General for Tax Administration. Has oversight and review responsibility for the IRS Office of Chief Counsel, the IRS Oversight Board, and the Taxpayer Advocate Service.
- Internal Revenue Service (IRS). The largest of Treasury’s Bureaus, the IRS is responsible for determining, assessing, and collecting internal revenue in the U.S. In 2014, the IRS collected almost $3.1 trillion in revenue and processed almost 240 million tax returns. In addition to its D.C. Headquarters, the IRS has one or more offices in all 50 states. Among its approximately 81,000 full time staff are: Internal Revenue officers and agents, tax examiners, tax specialists, tax compliance officers, accountants, budget analysts, economists, statisticians, auditors, industry specialists, special agents, enforcement and criminal investigators, tax law specialists, attorneys, appeals officers, engineers and architects, IT specialists, policy analysts, project managers, research analysts, HR specialists, public affairs specialists, and advocates. The Service also has a variety of seasonal and part-time opportunities.
Recent IRS Challenges: IRS has seen significant budget cuts in recent years, while also assuming increased responsibilities. Its workforce has been reduced, IT improvements delayed, and enforcement weakened. The IRS estimates that individual and business audit rates have fallen to their lowest levels in a decade. The Government Accountability Office recently reviewed the impact of cuts to the agency since fiscal 2010. See http://www.gao.gov/assets/680/670968.pdf.
TIP 2: Visit the IRS Careers website (https://jobs.irs.gov/), including its “Fit Check Tool” to assess employment options for Recent Graduates and Mid-Career/Experienced applicants.
- Office of the Comptroller of the Currency. Charters, regulates, and supervises all national banks and federal savings associations as well as federal branches and agencies of foreign banks. In 2011, the former Office of Thrift Supervision became part of this Office. The Comptroller ensures that entities within his jurisdiction operate in a safe, sound and fair manner, and in compliance with applicable laws and regulations. The Office has close to 4,000 employees and is divided into 4 geographic regions with over 70 field offices. Many of its careers focus on bank supervision (e.g., national bank examiners), and business & operations (e.g., critical infrastructure officers).
- U.S. Mint. Primary mission is to manufacture and distribute circulating, precious metal and collectible coins and national medals, and to provide security over assets. In addition to the D.C. headquarters, its Bullion Depository is located in Fort Knox, KY and its production facilities are located in PA, NY, CO, and CA. Employs approximately 1,600 employees including accountants, financial analysts, contact specialists, IT specialists, program analysts, marketing and visual information specialists, police and security specialists.
- Office of Domestic Finance. Develops and coordinates the Department’s legislative and regulatory policies as they relate to retail financial services by banks and nonbank financial services companies.
- Office of Economic Policy. Supports the Secretary as the principal economic official in the government. Utilizes economic analysis and evaluates current economic data to assist in the determination of appropriate economic policies.
- Office of General Counsel. Provides legal and policy advice to the Secretary and other senior officials. The General Counsel is also the Head of the Treasury Legal Division, that includes all legal counsels of the Department and their staff (approximately 2,000 attorneys and 1,500 support staff).
TIP 3: The Office has a broad range of opportunities for attorneys. There are a number of divisions each headed by an Assistant General Counsel including International Affairs; General Law, Ethics and Regulation; Enforcement and Intelligence; and Banking and Finance. The Office also includes the International Tax Counsel, Tax Legislative Counsel, and Benefits Tax Counsel.
- Office of International Affairs. Protects and supports U.S. economic prosperity by strengthening the external environment for U.S. growth, preventing and mitigating global financial instability, and managing key global challenges.?
- Office of Legislative Affairs. Advises the Secretary on congressional relations matters. Assists in formulating policy and determining the Department’s overall direction.
- Office of Management. Principal policy advisor on the development and execution of the budget and the internal management of the Department.
- Office of Financial Research. The Dodd-Frank Act 0f 2010 established this Office to support the Financial Stability Oversight Council, the Council’s member organizations, and the public. Promotes financial stability by measuring and analyzing risks; conducts research related to financial stability; promotes best practices in risk management; and collects and standardizes financial data.
- Office of Financial Stability. Implements the Troubled Asset Relief Program (TARP) to help stabilize the U.S. financial system and promote economic recovery.
- Office of Public Affairs. Develops and implements communications strategy and advises officials within the Department and its Bureaus regarding communicating issues and priorities of public interest.
- Office of Tax Policy. Develops and implements tax policies and programs; reviews regulations and rulings to administer the Internal Revenue Code; negotiates tax treaties; and provides economic and legal policy analysis for domestic and international tax policy decisions. Provides estimates for the President’s budget, fiscal policy decisions, and cash management decisions.
- Office of Terrorism and Financial Intelligence. Develops and implements U.S. Government strategies to combat terrorist financing domestically and internationally. Works to sever the lines of financial support to international terrorists, Weapons of Mass Destruction proliferators, narcotics traffickers, money launderers, and other threats to the Nation’s national security. Among its components, are: The Office of Intelligence and Analysis, responsible for intelligence functions and a member of the U.S. Intelligence Community; the Office of Terrorist Financing and Financial Crimes, the policy and outreach office; and the Office of Foreign Assets Control, administering and enforcing economic and trade sanctions.
TIP 4: Intelligence Analysts should be aware of opportunities advertised from time-to-time with the Office of Intelligence and Analysis. The Office delivers timely, relevant, and accurate intelligence and analysis; and produces all-source assessments identifying threats and vulnerabilities.
- Treasurer of the United States. Oversees the Bureau of Engraving and Printing, the U.S. Mint and Fort Knox. Serves as a key liaison with the Federal Reserve and as a senior advisor to the Secretary on matters of community development and public engagement.
Civilian Career Fields. Treasury employees work in more than 250 types of jobs including:
- Accountants (Job Series 0510)
- Attorneys (Job Series 0905)
- Budget Analysts (Job Series 0560)
- Chemists and Engineers (Job Series 1320 and 0801)
- Contract Specialists (Job Series 1102)
- Economists (Job Series 0110)
- Financial Analysts and Data Analysts (Job Series 0500)
- Operations Research (Job Series 1515)
- Human Resources/EEO Specialists (Job Series 0201 and 0360)
- Information Technology Specialists (Job Series 2210)
- Investigators (Job Series 1800)
- Intelligence Analysts/Specialists (Job Series 0570 and 0132)
- Management & Administrative (Job Series 0301)
- Marketing Specialists (Job Series 1101)
TIP 5: Treasury’s “Careers” website provides a comprehensive overview of careers at Headquarters and the Bureaus, as well as FAQs for applying for positions. You can link to each of the Department’s Bureaus and learn more about the types of employment opportunities and current openings.
TIP 6: YouTube™ Video: The Department has posted an innovative video in which “real employees talk about working for Treasury and making a difference.” Link: https://www.youtube.com/watch?v=H2CH2l6SNms.
Current Vacancies: There are currently over 40 Department of Treasury General Schedule (GS) vacancies for positions posted in USAJOBS for “U.S. Citizens.” Many are between the GS-11 and GS-15 levels. Occupations with the most current vacancies are:
- IT Specialist (Job Series 2210)
- Program Manger (Job Series 0340)
- Accounting, Budget & Finance (Job Series 500)
- Administrative (Job Series 0301)
The NEXT BLOG IN THE FEDERAL AGENCY SERIES WILL FOCUS ON The Department of AGRICULTURE.
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