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IMTEC-93-9R 1 (1992-10-28)

handle is hein.gao/gaobackdv0001 and id is 1 raw text is: Iqlbbo G~o United States General Accounting Office Washington, D.C. 20548 Information Management and Technology Division B- 250742 October 28, 1992 147880 The Honorable Albert V. Casey President and Chief Executive Officer, Resolution Trust Corporation Dear Mr. Casey: This letter presents the results of our evaluation of the Resolution Trust Corporation's (RTC) management and use of three critical automated asset systems since the recent restructuring of its field operations. As you know, since October 1990 we have expressed continuing concern about the agency's inability to develop systems to support its critical mission of managing and selling assets. For example, last March we reported that RTC's Real Estate Owned Management System (REOMS), Loans and Other Assets Inventory System (LOAIS), and Asset Manager System (AMS) were not meeting RTC's mission needs.' While RTC has shown management commitment to improve this situation, problems remain. BACKGROUND Until recently, RTC's asset systems development efforts have been disappointing. Problems with the systems have included unclear or changing requirements, inaccurate and incomplete data, poor response times, and difficulty of use. In our March report, we concluded that RTC had not adequately defined its business strategies for managing and selling assets; matched information needs to these strategies; or developed systems to provide timely, accurate, and complete information to manage asset disposition programs and oversee asset management contractors. Since then, some of our concerns have been addressed. We remain concerned, however, 1 Resolution Trust Corporation: Status of Asset Manager System (GAO/IMTEC-92-34BR, Mar. 5, 1992); Resolution Trust Corporation: Status of Loans and Other Assets Inventory System (GAO/IMTEC-92-35BR, Mar. 5, 1992); Resolution Trust Corporation: Status of Real Estate Owned Management System (GAO/IMTEC-92-36BR, Mar. 5, 1992); and Resolution Trust Corporation: Corporate Strategy Needed to Improve Information Management (GAO/IMTEC-92-38, Mar. 5, 1992). GAO/IMTEC-93-9R RTC: Asset Management Systems

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