As federal financial agencies modernize their operations, the promise of greater efficiency and effectiveness, higher levels of security, and improved mission outcomes is a powerful catalyst for change. Achieving this progress, however, requires navigating stringent governance requirements, evolving cybersecurity mandates, and responsible deployment of emerging technologies. To move forward effectively, agencies can benefit from a comprehensive approach that integrates data management, security maturity, performance-based acquisitions, and responsible artificial intelligence (AI) adoption.
In a recent MeriTalk interview, Gabrielle Rivera, Vice President of Federal Financial Agencies and Regulatory Commissions at Maximus, shared actions that federal financial agencies can take to transform modernization challenges into operational gains that deliver measurable mission impact.
Break down data silos with governance-first strategies
As agencies work to integrate fragmented data systems, Rivera emphasizes that successful data integration starts with strong governance frameworks.
“Silos exist because different business and IT owners want control over their data, and that separation impacts efforts to comply with regulatory mandates,” she explained.
The path forward? Identifying authoritative data sources, understanding data types and security parameters, and establishing enterprise-wide governance structures—activities made easier when security teams are embedded throughout the process rather than brought in as an afterthought. It is also critical to determine retention requirements and incorporate them into governance frameworks early, especially when handling personally identifiable information (PII) and sensitive financial records.
Achieve efficiency through consolidation
Maximus recently supported the Internal Revenue Service (IRS) in consolidating eight separate contracts into one program office while maintaining 130+ applications during peak tax-filing season. Rivera noted that the consolidation demonstrated reduction in operational risk by enabling consistent assessment of mandates and protocols while eliminating redundant efforts.
“Efficiency is not just about cutting costs; it is also about removing duplicative tools, platforms, and reporting structures,” she said.
Agencies should expect to identify redundancies both upfront and during implementation, as true operational gains often materialize after integration when streamlining opportunities become apparent.
Prioritize Zero Trust implementation to advance cybersecurity maturity
While many federal financial agencies have established zero trust foundations, the next phase requires deeper integration and proactive security postures. Rivera identifies Continuous Authority to Operate (cATO) as a critical step toward consistent security while reducing manual documentation requirements.
Rivera advises agencies to shift toward offensive strategies, including threat hunting and active threat intelligence, to anticipate and detect risks before they reach the perimeter. This proactive approach represents the evolution toward mature security programs.
Drive meaningful results with performance-based acquisitions
Traditional contracting models must evolve to keep pace with rapid mission and technology changes. Rivera sees performance-based acquisitions as a path to greater flexibility and faster, mission-aligned outcomes.
“Long-term contracts used to take years to show progress, but now, iterative gains are essential,” she explained.
Effective contracts must differentiate between technological outcomes and business outcomes, such as improved customer satisfaction. Transitioning from time-and-materials to firm-fixed-price models or adding optional contract line-item numbers can help meet evolving needs. Rivera also highlights the value of government-wide shared services models to control tool sprawl, reduce acquisition costs, and streamline adoption of technology advancements.
Balance automation with human oversight
In highly regulated financial environments, agencies must identify the optimal balance between automation, analytics, and human oversight. Success begins with a clear business case, Rivera stresses.
By agreeing on specific use cases up front, teams are better equipped to communicate effectively and operate under consistent standards for performance, security, and service, resulting in faster response times and more informed decision-making.
Deploy AI responsibly
As agencies explore AI opportunities to improve accuracy, reduce fraud or error, and elevate customer experience, Maximus emphasizes responsible implementation grounded in thorough assessment.
“There are endless use cases for AI, but everything must be grounded in responsible AI principles,” Rivera noted.
Given the highly sensitive nature of financial and personal data, cybersecurity and ethics must be foundational considerations. Maximus begins with comprehensive assessment phases that include IT, business, and cybersecurity leaders to determine where AI fits, how it supports mission outcomes, and how risks will be appropriately managed.
Embrace digitization as a foundation for further modernization
Looking ahead, Rivera identifies widespread digitization adoption as the capability that will define successful federal financial agencies. Many agencies still maintain paper documents, microfilm, and physical records that hold sensitive data and prove costly to maintain.
“Digitization drastically improves security, reduces costs, and streamlines secure access to information,” Rivera explained. “It seems simple, but it is fundamental to modernization.”
This foundational shift aligns federal financial agencies with the digital expectations of a modern populace while addressing security vulnerabilities and cost inefficiencies that hinder legacy approaches.
Learn more
To explore these modernization strategies further, read the full MeriTalk interview with Gabrielle Rivera.