Management Scope
In fiscal 2020, the Department of the Treasury had $1,152 billion in outlays and 84,050 total employment. The Undersecretary supervises two assistant secretaries — international finance and international markets and development; has oversight over the U.S. representation to international financial institutions and the respective U.S. executive directors (akin to an ambassador) at the IMF, World Bank and the regional development banks; and has oversight of U.S. financial attaches in 10 countries.
Primary Responsibilities
- Advises on U.S. response to global macroeconomic and financial developments, including debt, currency and energy markets.
- Serves as the lead for the administration on G7 and G20 financial and macroeconomic issues, as well as the lead negotiator for international coordination of financial regulation through the Financial Stability Board (FSB) and the U.S.-EU dialogues.
- Takes the lead on trade and investment negotiations that deal with financial services or capital flows.
- Monitors regional macroeconomic and financial developments for Europe, Middle East, Western Hemisphere, Asia and Africa.
- Leads bilateral financial/macroeconomic dialogues, particularly with China, India, the EU, Brazil, Mexico, Japan, Afghanistan and the Middle East.
- Works closely with international financial institutions where the United States is a shareholder such as the IMF, World Bank and Regional Development Banks (Asia, Africa, Latin America, Eastern Europe).
- Sits on the board of Overseas Private Investment Corporation.
- Chairs the interagency group responsible for examining national security aspects of cross-border investments into the U.S.
Strategic Goals and Priorities
[Depends on the policy priorities of the administration.]