Frank J. Bisignano, the current commissioner of the Social Security Administration (SSA), accepted the challenge. He was appointed to the newly created role of CEO of the Internal Revenue Service, making him the top day-to-day leader of the IRS as well. For one NEW luck ABOUTmy colleague Shawn Tully sat down with Bisignano to discuss what it takes to tackle two big jobs at once.

Bisignano previously spent most of his career at large financial institutions and fintech companies, including serving as CEO of both Fiserv and First Data. Earlier in his career, he was co-chief operating officer of JP Morgan Chase and CEO of its mortgage banking unit.

Today, Bisignano runs the SSA and IRS like the private sector companies he made a career of fixing, according to Tully. He oversees the world’s largest retirement system—paying out $1.5 trillion annually to more than 70 million beneficiaries—and what Tully calls “a planet-topping revenue machine” that collects more than $5 trillion in annual taxes, funding 90% of the federal government’s operations.

What Tully emphasizes about Bisignano is that he is an operator, not a bureaucrat. “He brings his restructuring skills to two areas with combined operating budgets of more than $30 billion and a workforce of about 150,000—and this should be a huge increase in efficiency and customer service,” Tully wrote.

Bisignano’s push to modernize the IRS, in particular, should be watched closely by finance and accounting professionals associated with the agency. Drawing on his experience leading digital transformation in the private sector, he takes a more technology-driven approach to tax administration.

For companies and advisors, that can mean faster custom processing—but also more data-driven execution and less tolerance for poor documentation—making it even more important to upgrade systems, controls, and outreach strategies. To go deeper, you can read the full article here.

cheryl Estrada
[email protected]

LeaderBoard-

Matt HorvathCFO and treasurer of Stoneridge, Inc. (NYSE: SRI), an electronic systems provider, has resigned, effective March 31, to pursue an opportunity in a different industry sector. Stoneridge has begun a search to identify a CFO. Until a permanent replacement is appointed, Robert Hartman, chief accounting officer, will work closely with Horvath for the next two months. Hartman has a total of 27 years with Stoneridge.

William H. White appointed CFO of Quantum Corporation (Nasdaq: QMCO), a technology company that provides solutions for unstructured data. White brings more than two decades of experience. Most recently, White served as CFO and head of revenue operations at Emotive, a venture-backed SaaS company. Earlier in his career, White was a managing partner at Goldblum Lentz & Co., where he advised on mergers, acquisitions, and capital transactions.

Great Deal

deepened

Heard

“What we see across the board is a desire for CEOs who bring more of a beginner’s mind and adaptability, and not a strict pushback to ‘what it was before.'”

—Jason Baumgarten, partner at Spencer Stuart, said luck in an interview. Read more in the article, “AI is changing the role of the CEO—and could lead to a changing of the guard.”