Richard L. Gregg

Richard L. Gregg

Fiscal Assistant Secretary (retired)

Department of the Treasury

 
Dick GreggRichard L. Gregg was appointed Fiscal Assistant Secretary by Secretary of the Treasury Timothy Geithner in May, 2010. Mr. Gregg returned to Treasury in 2009, after retiring from Treasury in 2006.

As the Fiscal Assistant Secretary, Mr. Gregg is responsible for developing policy and overseeing the operations of the financial infrastructure of the federal government, including payments, collections, electronic commerce, government-wide accounting, government investment fund management, delinquent debt collection, and shared services.  The responsibility also includes managing the government’s daily cash position and producing the cash and debt forecasts used to determine the size and timing of the government’s financing operations as well as overseeing the Bureau of the Fiscal Service (formerly the Financial Management Service (FMS) and the Bureau of the Public Debt(BPD)).

Prior to his retirement in June 2006, Mr. Gregg was the Commissioner of FMS for nine years and before that served as Commissioner of BPD for 10 years.  Mr. Gregg also held numerous other management positions at Treasury during his long career.

As Commissioner of FMS, Mr. Gregg provided leadership on a variety of financial matters and was responsible for managing over $3 trillion a year in collections and disbursements of federal revenues. He also oversaw government-wide programs for cash management and debt collection.

 

As Commissioner of BPD, Mr. Gregg directed the debt financing operations of the federal government and the staff that accounted for the resulting public debt. Mr. Gregg also directed BPD’s franchise operations, which include providing financial management, administrative, and information technology services to other federal agencies.
Among his accomplishments, Mr. Gregg has instituted fundamental and transformational change at BPD and FMS by developing a book entry environment for marketable Treasury securities, modernizing the savings bond and government-wide accounting programs, moving towards an all-electronic Treasury for collections and payments, and revitalizing the debt collection program.

 

Mr. Gregg began his federal civilian service in 1970 at FMS.  In 1976, Mr. Gregg joined BPD and served as the Assistant Commissioner in the Office of Financing.  From 1981 through January 1987, he was the Deputy Commissioner of Public Debt.  Mr. Gregg has also served in the U.S. Air Force.

A native of South Dakota, Mr. Gregg holds a Bachelor of Arts degree from the University of South Dakota; a Master’s degree in Public Administration from the George Washington University, Washington, DC; and a law degree, also from the George Washington University.  He is a member of the Virginia Bar Association.

 

Mr. Gregg’s leadership and accomplishments are widely recognized throughout Treasury, the Federal Reserve System, and the government. Mr. Gregg is the recipient of numerous Presidential Rank Awards; the Treasury Medal; and has received the George Mitchell Payments System Excellence Award twice, most recently in 2013. Upon his retirement in June 2014, Secretary of the Treasury Jacob Lew presented Mr. Gregg with the Alexander Hamilton Award, Treasury’s highest honor.

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