Department of Financial Institutions

Agency Performance Dashboard Q3 FY2018

AGENCY DESCRIPTION

DFI regulates state-chartered banks, savings and loan associations, savings banks and credit unions, as well as various operations of the securities industry. DFI also is the filing office for new and existing business entities; regulates the mortgage banking industry and other providers of financial services; oversees Uniform Commercial Code filings; administers the Wisconsin Consumer Act; registers merchants who extend credit; is the filing office for notary publics and trademarks and trade names; and registers and regulates charitable organizations.

DASHBOARD ARCHIVES

RELATED LINKS

Website:   http://www.wdfi.org

Goal Met Key
goal met, goal not met, goal in progress. As determined by comparison of current data and target.

Trend Key
  trending in favorable direction,     trend is holding,     trending in unfavorable direction.

Reform and Innovation

Electronic auto-filings of business forms

Metric Definition

Percentage of business forms that are electronically auto-filed.

Goal Met Current Previous Target Trend
87.1% 83.6% 80%

Reporting Cycle: Quarterly (January 1, 2018 - March 31, 2018)

Additional Details: Electronic auto-filing of documents by businesses such as corporations, LLCs, LLPs and non-stock entities gives business owners the quickest-possible turnaround time on their corporate documents being filed with DFI.

Efficient and Effective Services

Processing of new business filings

Metric Definition

Average processing time of all new business filings.

Goal Met Current Previous Target Trend
0.52 days 0.44 days 1 day

Reporting Cycle: Quarterly (January 1, 2018 - March 31, 2018)

Additional Details: Statutory requirement for processing new business filings is no more than 5 business days. However, a more aggressive target of 1 business day is achievable because of the availability of online filing options.

Examination of state-chartered banks

Metric Definition

Percentage of safety/soundness exams conducted to meet the statutory requirement that banks are examined at least every 18 months.

Goal Met Current Previous Target Trend
121% 106% 100%

Reporting Cycle: Quarterly (January 1, 2018 - March 31, 2018)

Additional Details: As of March 31, DFI had examined 20 banks in calendar year 2018 (annual goal is 66). DFI's Division of Banking works in conjunction with the FDIC, the Federal Reserve and the Office of the Comptroller of the Currency to ensure that banks are examined for safety and soundness at least every 18 months, as required by statute. These exams are important in that they help banks identify issues that could jeopardize the safety and soundness of the institution.

Turn-around time of bank examinations

Metric Definition

Business days between when field examination of a bank is completed and when the bank receives its written examination report.

Goal Met Current Previous Target Trend
32.6 days 35.1 days 45 days

Reporting Cycle: Quarterly (January 1, 2018 - March 31, 2018)

Additional Details: FDIC industry standard on turn-around time is 60 business days and the Federal Reserve standard is 45 business days. Meeting or exceeding the standard is good customer service and allows the bank management and its board of directors to react more quickly to any recommendations presented in the exam.

Examination of state-chartered credit unions

Metric Definition

Percentage of safety/soundness exams conducted to meet the statutory requirement that credit unions are examined at least every 18 months.

Goal Met Current Previous Target Trend
113% 103% 100%

Reporting Cycle: Quarterly (January 1, 2018 - March 31, 2018)

Additional Details:As of March 31, DFI had examined 26 credit unions in calendar year 2018 (annual goal is 92). DFI's Office of Credit Unions works in conjunction with the National Credit Union Administration to ensure that credit unions are examined for safety and soundness at least every 18 months, as required by statute. These exams are important in that they help credit unions identify issues that could jeopardize the safety and soundness of the institution.

Turn-around time of credit union examinations

Metric Definition

Business days between when field examination of a credit union is completed and when the credit union receives its written examination report.

Goal Met Current Previous Target Trend
14.6 days 14.9 days 30 days

Reporting Cycle: Quarterly (January 1, 2018 - March 31, 2018)

Additional Details: National Credit Union Administration industry standard on turn-around time is 45 business days. Meeting or exceeding the standard is good customer service and allows the credit union management and its board of directors to react more quickly to any recommendations presented in the exam.

Resolution of consumer complaints

Metric Definition

Business days for resolution of consumer complaints received by the Bureau of Consumer Affairs from receipt of complaint to case closed.

Goal Met Current Previous Target Trend
10.4 days 24.9 days 28 days

Reporting Cycle: Quarterly (January 1, 2018 - March 31, 2018)

Additional Details: The target of 28 business days was set by the Bureau of Consumer Affairs as a reasonable goal for resolution of consumer complaints, such as complaints against collection agencies, loan companies and auto dealers. Resolving a complaint generally involves fact-finding efforts and multiple interactions with the complainant and the respondent before a case is closed.

Customer/Taxpayer Satisfaction

Helpfulness of call center

Metric Definition

Customer satisfaction with the helpfulness of the Division of Corporate and Consumer Services call center staff on a 1-4 scale (1 being best).

Goal Met Current Previous Target Trend
1.2 1.2 1.5

Reporting Cycle: Quarterly (January 1, 2018 - March 31, 2018)

Additional Details: The target of 1.5 out of 4 rating was set by the Division of Corporate and Consumer Services as a reasonable goal for customer satisfaction. Data is collected in a post-conversation automated telephone survey.

Call center wait time

Metric Definition

Average wait time for callers to the Division of Corporate and Consumer Services call center.

Goal Met Current Previous Target Trend
56 Seconds 50 Seconds 90 Seconds

Reporting Cycle: Quarterly (January 1, 2018 - March 31, 2018)

Additional Details: Originally a target of 2 minutes was set by the Division of Corporate and Consumer Services as a reasonable goal for initial interaction with phone customers. DCCS has made the prompt answering of phones a top priority and a more aggressive target of 90 seconds was established effective 3Q 2017. At the same time, measurement of this metric was converted from minutes to seconds.

Edvest College Savings Plan accounts

Metric Definition

Number of new Edvest accounts per year.

Goal Met Current Previous Target Trend
169,481 (3/31/18) 158,735 (3/31/17) 159,564

Reporting Cycle: Annual (calendar year)

Additional Details: DFI set a goal of 4,000 new accounts compared to the previous year. The Edvest College Savings Plan is offered by the State of Wisconsin. TIAA-CREF Tuition Financing, Inc. (TFI) is the Plan Manager. TIAA-CREF Individual & Institutional Services, LLC, member FINRA, is the distributor and underwriter for the Edvest plan. An investor should consider the investment objectives, risks, charges and expenses associated with municipal fund securities before investing. Please visit www.edvest.com for a Plan Disclosure Booklet containing this and other information. Read it carefully before investing.

Tomorrow's Scholar accounts

Metric Definition

Number of new Tomorrow's Scholar accounts per year.

Goal Met Current Previous Target Trend
144,527 (3/31/18) 139,023 (3/31/17) 141,529

Reporting Cycle: Annual (calendar year)

Additional Details: DFI set a goal of 4,000 new accounts compared to the previous year.  Tomorrow’s Scholar 529 Plan is offered by the State of Wisconsin. Voya Investment Management provides investment management and administrative services, along with distribution of shares for the plan. An investor should consider the investment objectives, risks, charges and expenses associated with municipal fund securities before investing. More information is available in the Program Description by visiting www.tomorrowsscholar.com. The program description should be read carefully before investing.

Open and Transparent Government

Total number of public records requests received

Metric Definition

Total number of public records requests received from 12am CST, April 1, 2017 through 11:59pm June 30, 2017.

Current Previous Trend
79 79

Reporting Cycle: Quarterly (January 1, 2018 - March 31, 2018)

Additional Details: Executive Order #235 requires agencies to post public records metrics. Requests may be received verbally or in writing and are logged by the agency when received.

Total number of public records requests completed

Metric Definition

Total number of public records requests completed from 12am CST, July 1, 2017 through 11:59pm September 30, 2017.

Current Previous Trend
76 78

Reporting Cycle: Quarterly (January 1, 2018 - March 31, 2018)

Additional Details: Executive Order #235 requires agencies to post public records metrics. Completed or closed means no further action is required by the agency. Requests completed during this reporting cycle may have been initiated during a previous quarter.

Average time taken to fulfill public records requests

Metric Definition

Total time taken (in business days) to fulfill public records requests divided by the total number of public records requests completed in this reporting cycle (12am CST, July 1, 2017 through 11:59pm September 30, 2017).

Goal Met Current Previous Target Trend
0.75 days 0.22 days 5 business days

Reporting Cycle: Quarterly (January 1, 2018 - March 31, 2018)

Additional Details: Executive Order #235 requires agencies to post public records metrics. This metric includes requests fulfilled this quarter although the requests may have been initiated in a previous quarter. Weekends, legal holidays, time spent waiting for payment of invoices, and time spent waiting for clarification from requestor are not counted in total business days. Requests received and fulfilled within one business day are calculated as zero days. Fulfilled means no further action is required by the agency.

Percentage of public records requests acknowledged within one business day

Metric Definition

Percentage of public records requests sent to the agency's primary public requests inbox and acknowledged by the next business day (12am CST, July 1, 2017 through 11:59pm September 30, 2017).

Goal Met Current Previous Target Trend
100% 100% 100%

Reporting Cycle: Quarterly (January 1, 2018 - March 31, 2018)

Additional Details: This does not include requests sent via channels other than the primary public requests inbox. Acknowledged is defined as a response sent back to requestor by the next business day. Business days do not include weekends or legal holidays.

Percentage of current employees completing public records training

Metric Definition

Percentage of current employees that completed public records training by March 1 of each calendar year.

Goal Met Current Previous Target Trend
97.9% 100% 100%

Reporting Cycle: Annual (March 1, 2017 - February 28, 2018)

Additional Details: Public records training is available to state employees via our enterprise learning management system. All state employees (permanent, project, and limited term) are required to complete this training. This metric is measured annually on March 1 for employees that started before February 1. Data does not include employees who completed the training, but left employment before the end of the reporting cycle. (NOTE: DCCS had 3 employees on medical leave as of 2-28-18).

Percentage of new employees completing public records training

Metric Definition

Percentage of new employees that completed public records training within 30 calendar days of their start date.

Goal Met Current Previous Target Trend
100% 100% 100%

Reporting Cycle: Quarterly (January 1, 2018 - March 31, 2018)

Additional Details: Public records training is available to state employees via our enterprise learning management system. All new state employees (permanent, project, and limited term) are required to complete the training within 30 calendar days of their start date.

Percentage of exiting employees that received notice of public records retention obligations

Metric Definition

Percentage of exiting employees that received notice of public records retention obligations on or before last day of employment.

Goal Met Current Previous Target Trend
100% 100% 100%

Reporting Cycle: Quarterly (January 1, 2018 - March 31, 2018)

Additional Details: It is required that all exiting employees receive notice of public records retention obligations on or before last day of employment.


ABOUT

Agency performance dashboards include cabinet agencies and are updated quarterly during the state fiscal year (July 1-June 30).

CONTACT INFORMATION

Department of Administration
101 E. Wilson St. Madison, WI 53703
Phone: 608-266-1741
Email: WIAgencyPerformance@wisconsin.gov

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