When Irv Dennis was pulled out of retirement after a successful 37-year career at Ernst & Young to lead the financial affairs of the U.S. Department of Housing and Urban Development (HUD), that organization hadn’t received a clean audit in several years. It was beset by material weaknesses in its accounting processes and uncompliant with most governmental financial reporting regulations.

In Transforming a Federal Agency: Management Lessons from HUD’s Financial Reconstruction, the author tells the story of his transformative tenure as Chief Financial Officer of HUD, where he led a process of financial renewal with surgical and tactical precision.

Written to allow each chapter to stand on its own so that critical management teachings can be drawn from each section, the book addresses a variety of subjects, like HUD’s state of affairs upon Irv’s arrival, how the author approached his first 100 days at the Department, and the evaluation of governance, people, processes, and technology.

Transforming a Federal Agency also explores the transformation process at HUD―with lessons to be drawn for other private and public organizations―and the barriers to success the author encountered and overcame during his financial restoration of the Department. It also examines the steps necessary to ensure the improvements made would endure a change in administration. Finally, the book examines the importance of bringing private-sector experience to governmental departments, and the differences between the two worlds relevant to those in positions of financial leadership.

Transforming a Federal Agency: Management Lessons from HUD’s Financial Reconstruction is an indispensable resource for government employees, finance professionals in the public and private sectors, and business students. It also belongs in the libraries of anyone interested in the inner workings of governmental departments or in exemplary financial leadership.

Praise for Transforming a Federal Agency

“Irv shares an inspiring, detailed story of how a very successful businessman can make a tremendous impact in a large and very challenged government agency. His leadership and disciplined plan delivered remarkable improvements and progress at HUD well beyond what would have been thought possible.”

―Stephen D. Steinour, CEO, Huntington Bancshares Incorporated

“As an EY audit partner, Irv had an extraordinary ability to unwind complex problems to quickly address the heart of the issue with practical solutions and achieve the best results in service of our clients and the capital markets. His leadership of the financial transformation at HUD was no different. This book presents a compelling framework for leading through challenging changes in a complex environment and provides insights into the inner-workings of government that will benefit college students and business leaders.”

―Kelly Grier, US Chair and Americas Managing Partner, Ernst & Young LLP

“I know from Irv’s lectures that sharing his experiences is of tremendous value to MBA and other graduate students as well as serious business leaders interested in leading complex change and innovation. In this book, Irv describes his perspectives on evaluating and improving an entity’s governance, people, process, and technologies, which is easy to understand and serves as a great lesson.”

―Ron Strauss, Senior Associate Dean and Previous Chair of the Accounting and Finance Department, Feliciano School of Business

“Irv Dennis was an amazing CFO who brought years of private sector experience, mindset, and velocity to HUD and successfully instituted financial transformation through improved governance, policies, and data analytics. His actions and that of his team saved taxpayers millions of dollars by bringing new efficiencies and eliminating costly errors and redundant processes. Irv’s insightful book provides an in-depth approach to an underreported story of his leadership to turnaround an Agency that had not received a clean audit nor had the benefit of an individual like Irv with close to 40 years private sector accounting and financial management experience. The turnaround to a condition of operational excellence in only three years was astonishing.”

―Brian Montgomery, former HUD Deputy Secretary, 2018-2021; Federal Housing Commissioner, 2005-2009