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In 2002, the Securities and Exchange Commission -- the Federal agency that regulates financial reporting by publicly held companies and mutual fund companies -- got a wakeup call from Congress for failing to review the financials of Enron and WorldCom. New on the job, SEC Chairman William Donaldson immediately launched a plan to improve all aspects of the commission's operations, especially information technology. Donaldson hired Corey Booth, a former securities and IT consultant with McKinsey & Company, as CIO, a post that had been vacant for about 18 months.

Since taking the job, Booth has tackled a number of initiatives to improve efficiency and effectiveness, including reporting requirements for companies: he evangelizes using a markup language called eXtensible Business Reporting Language (XBRL) a variant of XML that enables tagging of each item of financial data in the filing, eliminating the need to re-key figures into a spreadsheet or analysis tools. He's also worked to secure an increased and stable budget for IT, expanded the SEC's networked storage infrastructure, provided examiners with project better tools for tracking all investigations through the chain of command, put analytical tools in place to better assess potential risks in the marketplace, and overhauled the information security program.

Join us for an informative interview with Corey Booth, CIO of the Securities and Exchange Commission, an increasingly integral government agency that, by its very nature, relies heavily on IT to successfully accomplish its mission.

Resources

CIO Interview: Corey Booth of the SEC on Catching the Bad Guys

Better Budgeting, Reporting and Benchmarking: The Keys to Fast ROI

Bio

In January 2004, Corey Booth became chief information officer for the Securities and Exchange Commission (SEC), the Federal agency that regulates financial reporting by 12,000 publicly held companies and mutual fund companies. His mission has been to help the SEC put better processes and technologies in place to prevent corporate fraud debacles, such as Enron and Worldcom, from happening again.

Prior to joining the SEC, Booth was a consultant with McKinsey & Company, a global strategic consulting firm, where he was a leader in the banking and securities, and information technology practices. He has an MBA from Stanford University and a bachelor's degree in economics and English literature from Washington University in St. Louis.

Production Credits

Elizabeth Ferrarini, producer
Dana Farver, Executive Producer, Communities Editor-in-Chief
Tom Parish, Audio Engineer, Show Host
Scott Ebner, Music, Web Developer