Kristine Smeltzer Conrath Named as Assistant Commissioner, Federal Finance, Financial Management Service
On January 3, 2010, Kristine S. Conrath became the Assistant Commissioner of Federal Finance in the Department of the Treasury's Financial Management Service. Ms. Conrath has been a member of the Senior Executive Service since November 2007 and has held a number of positions at FMS throughout her 14-year Treasury career.
The Financial Management Service (FMS) provides leadership and direction to federal agencies on a variety of financial management matters. FMS has primary responsibility for the federal government's payments and collections, annually processing more than one billion disbursements to more than 100 million people, processing nearly $3 trillion in federal revenues while overseeing a daily cash flow of more than $90 billion, and collecting more than $3.5 billion in delinquent debt. As manager of the government's central accounting and financial reporting systems, FMS issues the annual Financial Report of the U.S. Government.
As Assistant Commissioner of Federal Finance, Ms. Conrath has the responsibility for evaluating, developing and operating collection and cash management programs that minimize cost and maximize the effectiveness and efficiency of federal government financial management. She manages nearly $3 trillion per year in federal revenue collections and oversees the implementation of e-commerce solutions for government collections. Also among her responsibilities is the implementation of the Collections and Cash Management Modernization Initiative (CCMM), an FMS effort to streamline, modernize, and improve the services, systems, and processes supporting the federal government's collections and cash management programs.
Ms. Conrath began her career in 1996 as a program leader ensuring Year 2000 compliance for Federal Finance's collection systems. Upon successful completion of this initiative, she served as the Smart Card Program Manager, launching several stored value card pilots with the U.S. military. Ms. Conrath then served as the Director of the Emerging Technology Division focusing on the research and development of technology solutions to lead the effort on e-commerce initiatives in the federal government.
From August 2005 to November 2007, Ms. Conrath served as Federal Finance's Director of Operations, overseeing the activities of the Cash Management Improvement Act Team, the investment of excess operating cash in the federal government, as well as several other critical cash management operations. Prior to her assignment as Assistant Commissioner, Ms. Conrath served as Director of Federal Finance's Revenue Collections Group. As Director of the Revenue Collections Group, Ms. Conrath was responsible for supervising the movement and settlement of funds collected into the federal government, and for converting paper collections into electronic receipts.
A native of Greensburg, PA, Ms. Conrath attended Duquesne University in Pittsburgh, where she graduated with a major in finance and minor in accounting.