Douglas Anderson and the Retail Securities Team at the U.S. Department of the Treasury are being recognized for revitalizing the U.S. Savings Bonds program amidst unprecedented demand sparked by high inflation rates in April 2022. Facing a sudden surge that strained outdated systems and customer service capabilities, the team demonstrated remarkable resilience and innovation to meet public needs effectively.

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The surge saw a 3,700% increase in new savings bond accounts, overwhelming call centers and online systems designed over two decades ago. Despite these challenges, Retail Securities swiftly implemented strategic solutions:

• Enhanced online interfaces for self-service, including password resets and redesigned informational pages.

• Improved identity authentication and bank verification processes, eliminating paper forms and in-person requirements.

• Collaborated with stakeholders like the Secret Service and Office of Inspector General to combat fraud, resulting in a 96% reduction

• Proactively engaged with congressional inquiries and streamlined customer service backlogs.
   

These efforts yielded significant benefits for the public:

• Sold $45.6 billion in Series I Savings Bonds across FY22 and FY23, a massive increase from previous years.

• Reduced contact center wait times from several hours to under five minutes by 2023.

• Decreased mail volume by 30% through improved identity verification processes.

• Managed operations within a level budget and with a reduced staffing level, showcasing efficient resource utilization.
   

The success of Retail Securities in managing this crisis has become a model within the Treasury Department, highlighting effective government service delivery during challenging times.