Matt Zames to advise Social Security Administration on modernization

Matt Zames, the former Chief Operating Officer of JPMorgan Chase, will serve as an unpaid advisor to the Social Security Administration (SSA) to assist with agency modernization. Zames is set to begin his role on Monday, joining former JPMorgan colleague Frank Bisignano, who serves as the Social Security Commissioner.

Zames brings experience in technology and cost-cutting initiatives from his tenure at JPMorgan, as well as leadership roles at the private equity firm Cerberus. As a special government employee, his role is limited to 130 days, though these days may be spread over a longer period due to his part-time status.

The advisory role comes as the SSA faces challenges with aging technology systems and the projected exhaustion of its retirement trust fund within the next decade. Commissioner Bisignano has previously expressed a commitment to improving agency efficiency, reducing error rates, and utilizing artificial intelligence to identify fraud and waste.