The call came directly from the President, a moment that would redefine the career of Frank Bisignano and potentially reshape two of America’s most vital, yet often maligned, federal agencies. From his 40th-floor Manhattan office, with a sweeping view of the city that shaped his blue-collar upbringing, Bisignano, already the newly confirmed Social Security Commissioner, accepted an extraordinary dual mandate: to also serve as the first-ever CEO of the Internal Revenue Service (IRS). His charge, as the President put it, was to “make the IRS great again,” echoing the mission already set for Social Security.
A Wall Street Titan Steps into Public Service
Frank Bisignano is no ordinary bureaucrat. He is a phenomenon in government circles, a former super-big-time private-sector CEO, a protégé of banking legend Jamie Dimon, who built a formidable career on Wall Street. His expertise lies in constructing and streamlining complex, tech-heavy, yet highly lucrative functions like payments networks and treasury services. Before this unprecedented public service role, he served as CEO of the credit card payments colossus Fiserv, a testament to his operational prowess.
This background makes Bisignano uniquely suited for the task at hand. Unlike many of his predecessors, he approaches these agencies not as entrenched bureaucracies, but as turnaround cases ripe for restructuring. With combined operating budgets exceeding $30 billion and a workforce of around 150,000, both the IRS and Social Security Administration (SSA) are in dire need of the efficiency and customer service overhaul Bisignano is known for delivering.
The Unprecedented Dual Mandate: $6.5 Trillion Under One Roof
Bisignano now wields perhaps the broadest authority of any back-office administrator in recent U.S. history. He oversees the world’s largest retirement system, Social Security, which disburses $1.5 trillion annually to over 70 million beneficiaries. Simultaneously, he is at the helm of a planet-topping revenue machine, the IRS, responsible for collecting over $5 trillion in annual taxes that fund more than 90% of the federal government’s operations.
The challenges are well-documented: tardy tax refunds, agonizingly slow disability resolutions at the SSA, and notoriously long phone hold times at both agencies. These systemic failings have eroded public trust and fueled the perception that government simply doesn’t work. Bisignano’s mission is to dismantle these inefficiencies, bringing a digital-first approach, rigorous Key Performance Indicators (KPIs), and relentless team building to the forefront.
A History of Tackling Herculean Tasks
For Bisignano, managing dual, high-stakes roles is familiar territory. “People ask me, ‘How do you do two jobs?’ And I really don’t look at it like that,” he shared in an exclusive interview. He recalls his time at Citigroup as deputy head of operations and tech, and chief administrative officer of the world’s largest global and investment bank. Later, under Jamie Dimon at JPMorgan, he served as co-COO and spearheaded the mortgage workout program that led to the $26 billion federal settlement in 2012, a critical step in restarting the housing market.
His early tenure at the SSA offers a glimpse into his potential impact. Prior to his arrival, the agency saw a rapid succession of commissioners amidst congressional criticism over poor service. Under Bisignano, the SSA website now runs around the clock, a significant improvement from its previous 29 hours of weekly downtime. Phone wait times have plummeted dramatically, shrinking from an average of 20 minutes to an all-time low of just a few minutes, a transformation that even garnered surprise from critics like Elizabeth Warren.
The $5 Trillion Tax Season Test
The immediate and most formidable challenge for Bisignano is the upcoming tax season. With the administration’s “One Big Beautiful Bill” promising substantial cash refunds and significant changes to the tax code, returns are expected to be far more complicated than usual. The spotlight is intensely focused on the IRS, as any delays in refunds or errors in processing could severely undermine the goodwill the administration hopes to generate.
Bisignano’s proven ability to streamline operations and enhance customer service will be put to the ultimate test. His success or failure this tax season will not only determine the public’s perception of the IRS but also reflect on the broader administration’s ability to deliver on its promises of efficiency and responsiveness. The stakes are immense, and the nation watches as this Wall Street veteran attempts to bring corporate-level performance to the heart of federal bureaucracy.
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