CASE STUDY: US FEDERAL RESERVE

In 2012, the US Federal Reserve System was at an inflection point. With stakeholder needs that varied widely—from school teachers to micro- and macroeconomists, and world governments—mission-critical experiences were becoming increasingly complex. Emerging technology was rapidly being adopted by Federal Reserve districts seeking to innovate their digital experience solutions. The resulting fragmentation was rapidly increasing System costs and cybersecurity risks, culminating in a widely publicized hacking event.

A transformation was required to operate effectively in the public trust, but challenges were significant:

Stakeholder experience goals varied across districts with independent business and technology architecture
All national efforts required a consensus proposal with endorsement from: business and technology executives across 12 autonomous Federal Reserve districts; National IT executive leadership; national user stakeholder groups; System governance committees; and the Federal Reserve Board of Governors

National Information Technology was tasked with a visioning and strategic planning framework that could produce a new solution architecture, governance model, and transformation roadmap. Cherie was tapped as the System's first National Technology Strategist, achieving the following outcomes over a five-year period:

Jan 2013: Applied transformation practice, including: landscape scans; risk and capabilities forecasting; field research with Gartner & Forrester on emerging trends and critical capabilities; and mapping of borrowed, preferred, and alternate futures.
Feb-May 2013: Facilitated cross-functional stakeholder and executive coaching to deliver discovery, vision, a strategic plan, governance model, and transformation roadmap, receiving approval with unprecedented first-round consensus from System governance groups and district leadership.
Sept 2013-Dec 2014: Secured approval for procurement model using prioritization criteria and impact-weighted measures matrix. Led RFP delivering a transformational solution stack, investment strategy and 3-year transformation timeline approved by the Federal Reserve Board of Governors. Secured assurances of strategic alignment with key software partners via Advisory Board Membership to guide the emerging technology roadmaps.
2015-2018: Upon launch, the transformation program surpassed target adoption goals, achieving 96% adoption of the national architecture (up from 26% adoption of national stack as of 2012). Concluded strategic transformation program within five years, following coordinated effort by hundreds of FRS professionals over hundreds of thousands of hours
2019-Present: The program has continued to be championed in stakeholder surveys for setting a new standard for effectiveness in System strategic planning and technology thought leadership

the experience

Bev Schatte, Executive Officer, National Information Technology

"Cherie was highly regarded in her role as Principal National Strategist for the quality of thinking and foresight she brought to the table. I'm extremely proud of the strategy she helped our organization to create. Her process of inquiry and method of oversight helped us to imagine, innovate and advance a national mission that was critical at that point in time to the System's broader mission and public trust. She unquestionably helped National IT set a new standard of professionalism in strategic planning for System technology programs.

A decade later, I am happy to count Cherie as a professional colleague and trusted friend. I strongly recommend her as a coach, strategist and advocate. Her outcomes-focused approach will help you find the most effective pathway forward."

Peter Drucker

“The best way to predict the future is to create it."

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