STB - OMB-123 Support Services - MRAS

The Surface Transportation Board (STB), through the General Services Administration (GSA), is seeking to enhance its internal controls over reporting as mandated by the Office of Management and Budget Circular (OMB) A-123. This initiative is directed by the Office of the Managing Director and aims to ensure that STB maintains robust management controls, effective financial operations, and reliable financial reporting. The overarching goal is to comply with regulatory requirements while optimizing operational efficiency within the agency.

The project involves comprehensive support activities related to assessing and enhancing internal controls. The contractor will be responsible for documenting, testing, and evaluating these controls within STB to safeguard the integrity of financial and operational data. This includes a detailed assessment of existing controls, planning for testing procedures, conducting tests and analyses, as well as addressing any identified deficiencies. The work will revolve around five core components of internal control: Control Environment, Risk Assessment, Control Activities, Information & Communication, and Monitoring.

In addition to these tasks, the contractor will play a crucial role in ensuring compliance with OMB Circular A-123 by supporting agency staff in updating and refining their responses to the circular's mandates. This involves developing or revising risk assessment methodologies along with necessary templates and guidance on a rotating schedule typically focused on two areas per year. Furthermore, this initiative requires gathering information on business process designs and key internal controls at the entity level to evaluate their effectiveness accurately.