WSSC’s FY 2017 OSDI Programs’ Performance Results Report (revised 11/2017) 45 A BIG YEAR FOR WSSC CONT. headquartered in Bethesda. The bank works with other local governments in similar investment programs. After meeting with the representative, we worked on the standard procedures and got the okay from the Commission and, as a result, funded the deposits in the beginning of February of 2017.” Other key staff who collaborated effectively to smoothly transform the BIG Program vision into a reality include Thomas Street (Deputy General Manager for Administration), Towanda R. Livingston (OSDI Director), David Malone (Chief Procurement Officer), and Rick Baker (Manager of the Retirement Division/Manager of Investment Program) as well as teams from each of the respective programs and offices. Beach’s expertise was key for developing changes to the Commission’s investment policy and in developing the Standard Procedures (SP) that govern the BIG Program. His experience with getting similar programs off the ground in Montgomery County was instrumental in drafting the SP, advancing through the process of Commission approval, and conducting outreach to local banks with Carla A. Reid, WSSC’s General Manager and Chief Executive Officer. Beach acknowledges, “Not only are these banks participating, but they all have a designated point of contact to allow for a better flow of communication and collaboration at a very high level of the organization, which shows their strong commitment to the BIG Program and how it is positioned as a priority within the banks.” By aligning with the OSDI’s robust activities, the BIG Program becomes another way of expanding community outreach and support for local businesses, dealing especially with small businesses for whom having access to capital is a major challenge. The concept to establish a best-practice program in the area and then facilitate a link between local banks represented a natural way to address the community needs and operate and expand WSSC’s commitment of supporting local businesses. The OSDI was a strategic force in the crafting of the BIG Program. Towanda R. Livingston’s direct participation facilitated the banks’ willingness to work with WSSC vendors, suppliers, and subcontractors. “Towanda was engaged in all of the meetings with the banks, and helped the executives understand “This is basically a virtuous circle where we are supporting the local business community, which is good for WSSC and our customer base. WSSC is also benefiting from the BIG Program by getting a favorable rate for their deposits, earning a return that is the current rate of the FDIC weekly national rate plus 50 basis points.” JOE BEACH, WSSC’S CHIEF FINANCIAL OFFICER