Justin Marsico, CDO/Deputy Assistant Commissioner, the U.S. Bureau of the Fiscal Service, speaks with Bill Sullivan, VP and General Manager, US Federal at Denodo, in a video interview about the common challenges faced by government and non-government organizations, the difference in approach to data between digital native and legacy companies, and the need to understand the financial operations of the federal government.
Marsico begins by mentioning that being a part of CDO Magazine's community, he gets to meet CEOs from various non-government companies. These executives who are from the finance, technology, marketing, and retail industries, are on the same data journey as the people in the federal government, and they face similar challenges.
Contrary to the belief that those outside the government are far ahead, Marsico reveals that many struggle with the same issues.
Justin Marsico | CDO/Deputy Assistant Commissioner, the U.S. Bureau of Fiscal Service
Moving forward, he states that the difference between organizations with a long history and digital native companies lies in the way they approach data. Digital native companies view data as more than a byproduct of a transaction and have likely designed their systems for strategic use, says Marsico.
Whereas private sector organizations with a longer history may need to "shoehorn" data into producing value, as they deal with legacy systems, he asserts. He encourages his colleagues to form connections with data officials in the public sector to understand how they are managing the same challenges.
Further, Marsico emphasizes the importance of setting up a control process that makes sense to the organization. He also recommends speaking with financial partners to learn about the tools that could help.
In addition, he states that the Office of the Treasury has a great team for Payment Integrity that works with agencies to identify areas where improper payments may be occurring and helps stop them in partnership with the agency.
Thereafter, Marsico encourages everyone to look outside their offices for other central or shared services that may exist to help with their data. He also suggests that individuals use their own data to try to answer a question. This process can provide insight into what other analysts are experiencing and potentially open the door to improvements, he adds.
In continuation, Marsico encourages everyone to visit USASpending.gov to view details on federal contracts and grants. He also directs individuals to Fiscal Data at fiscaldata.treasury.gov which offers up-to-date information on the national debt, interest rates, treasury securities, savings bonds, and I bonds.
In conclusion, Marsico believes that having an understanding of the financial operations of the federal government is essential for understanding a democratic society.
CDO Magazine appreciates Justin Marsico for sharing his insights with our global community.