The SEC announced today that it has hired Adam Storch as its first-ever "Managing Executive of the SEC’s Division of Enforcement." In this newly-created post, Storch will essentially function as the Enforcement Division's first "chief operating officer." Storch will report to Robert Khuzami, the Director of the Enforcement Division.

Storch's responsibilities will reportedly include:

project management and workflow for various infrastructure and operational aspects of the Division, including budget, information technology, and administrative services.

oversight of the workflow and process associated with the collection and distribution of Fair Funds to harmed investors.

supervision of the SEC's Office of Market Intelligence and improving the collection, analysis, risk-weighing, triage, referral, and monitoring of the hundreds of thousands of tips, complaints and referrals that the agency receives each year.

Nearly all of these enumerated responsibilities relate to areas flagged in a recent GAO report as being woefully deficient in the Enforcement Division. The GAO report, discussed here in detail, highlighted problems such as the SEC's weak information technology and administrative support, and the many problems facing its Office of Collections and Distributions.

Storch joins the SEC from Goldman Sachs & Co., where he was Vice President in the Business Intelligence Group. Prior to joining Goldman Sachs, Storch was a consultant at Deloitte & Touche.