Keeping Treasury’s budget in check

At the height of the nation’s economic crisis, 28-year old Kimberly Panicek answered the call to serve.

“Government was an inspiring prospect, and I wanted to come to D.C. to roll up my sleeves, get involved and fix the root of the financial problems,” said Panicek.

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(Andrew Trueblood) - Kimberly Panicek, Budget and Performance Analyst, Department of Treasury

Who is Kimberly Panicek?

POSITION: Budget and Performance Analyst, Department of Treasury

RESIDENCE: Washington, D.C.

AGE: 28

EDUCATION: : University of Washington-Seattle, B.A. in Political Science; M.P.A. from the Institute d'�tudes politiques de Paris (Sciences Po)

HOBBIES: Running marathons and practicing yoga

Panicek, who has a background in economic development, joined the 2009 inaugural class of the Department of Treasury’s Hamilton Fellows Program, a two-year professional development program that builds a pipeline of future leaders.

“Kimberly is a good example of the power and benefit of the Hamilton Fellows Program. She could have her pick of jobs in the private-sector, but her commitment to the public sector attracted her to do amazing work in the midst of the global economic crisis,” said Dan Tangherlini, the treasury’s assistant secretary for management.

In her first year as a Hamilton Fellow, Panicek worked for Treasury’s Community Development Financial Institution Fund (CDFI), which provides credit, capital and financial services to underserved populations and communities across the country. With $98 million appropriated through the economic stimulus law, Panicek and four colleagues quickly designed and implemented a nationwide outreach and technical assistance program for awardees.

Panicek then moved to Treasury’s budget office in the second year of her fellowship, where she worked on the fiscal 2012 budget as an analyst for the CDFI Fund and the Government Sponsored Entities (GSEs) which include Fannie Mae and Freddie Mac. She also was given the unique opportunity as a young analyst to work on drafting the House and Senate budget testimony for Treasury Secretary Tim Geithner.

“I got to draft what we call the little budget testimony for the secretary and was able to work with him and senior staff for several weeks to revise the testimony, and then to accompany him to the House and Senate hearings,” said Panicek.

At the conclusion of the fellowship, Panicek channeled her budget experience into a permanent position as a budget and performance analyst at Treasury. In this role, Panicek helps manage a $400 billion portfolio that includes all of Treasury’s departmental offices as well as the government’s investment in the GSEs.

At any one time, Panicek is simultaneously tracking the fiscal 2012 budget for the departmental offices that she oversees, while also building the fiscal 2013 budget and closing out the fiscal 2011 accounts. With her dual role as a performance analyst, Panicek is also constantly thinking about her offices’ resources and how to connect the dots to the investments, deliverables and reductions that they are making.

Panicek said when she first showed up in the budget office, she thought she would be building her technical analysis skills.

“But it is definitely the communication and negotiating skills that I have learned. We are asking folks to make cuts,” she said. “It is a different environment and shift to say we have to trim where we can and then ask for more cuts.”

Treasury Budget Director Bob Mahaffie called Panicek a leader with great understanding of how to deal with people.

“I have switched her to one of our positions that depends the most on diplomacy. Kimberly understands people’s feelings and motivations and can adapt her approach to work within that,” Mahaffie said.

Panicek plans to devote her career to public service “as long as there is room for innovating public policy and improving government performance and efficiency.”

“I constantly remind myself that I am a steward of taxpayer dollars and have to be extremely thoughtful of how we do that and find better ways to do it, which keeps my energized,” she said.

“In an organization where we have really smart emerging leaders, Kimberly even stands out among the notable,” said Tangherlini. “She has well-developed, strong views that are rooted in analysis and then can make a persuasive argument while having a passion and belief that she can have a positive impact on the lives of fellow citizens.”

This article was jointly prepared by the Partnership for Public Service, a group seeking to enhance the performance of the federal government, and washingtonpost.com. Go to http://www.washingtonpost.com/politics/fed-player to read about other federal workers who are making a difference.