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Before it put in place the State Treasury Operational Risk Management System (STORMS), the Ohio State Treasurer’s department had little ability to control and assess the ways employees handled mistakes and general exceptions. The office collects, manages and invests $11 billion in public funds annually. It’s the job of some 80 employees to collect cash and check deposits from other state agencies or review financial transactions for compliance. “By the sheer number of transactions, we knew employees were fixing these things every day, but the managers didn’t know the level of exposure and didn’t know who was causing the exposures for us,” says Kevin Talty, director of operations at the Ohio Treasury.

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