On May 12, 2010, Treasury Secretary Tim Geithner appointed Richard L. (Dick) Gregg to the position of Fiscal Assistant Secretary. Gregg had been Acting Fiscal Assistant Secretary since May 2009.
Prior to his previous retirement from the Treasury Department on May 30, 2006, Gregg was the Commissioner of the Financial Management Service for nine years and before that served as Commissioner of the Bureau of the Public Debt for 10 years. Gregg also held numerous other management positions at Treasury during his career.
The Fiscal Assistant Secretary, who reports to the Under Secretary for Domestic Finance, is responsible for developing policy on payments, collections, debt financing operations, electronic commerce, government wide accounting, and government investment fund management. 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.
The Fiscal Assistant Secretary also oversees the Financial Management Service and the Bureau of the Public Debt. These Treasury bureaus provide the financial infrastructure of the Federal government, including payments, collections, cash management, financing, central accounting, issuance of Treasury securities, and delinquent debt collection.