; and (4) supervise grant programs administered by the Agency. (g) All-hazards approach In carrying out the responsibilities under this section, the Director shall coordinate the implementation of an all-hazards strategy that builds those common capabilities necessary to prepare for, respond to, recover from, and mitigate hazards. 5. Office of the Inspector General The Agency shall have an Office of the Inspector General, headed by an Inspector General, in accordance with chapter 4 of title 5, United States Code (commonly known as the Inspector General Act of 1978 ). 6. Transfer of functions (a) In general There shall be transferred to the Director all functions of the Federal Emergency Management Agency, as such Agency was constituted on the day before the date of enactment of this Act. (b) Inspector General There shall be transferred to the Inspector General all functions relating to the Inspector General that were transferred from the Federal Emergency Management Agency to the Department of Homeland Security on or after January 1, 2003. (c) Transition period The transfers under this section shall be carried out not later than 120 days following the date of enactment of this Act. During the transition period, the Secretary of Homeland Security shall provide to the Director such assistance, including the use of personnel and assets, as the Director may request in preparing for the transfer. 7. Personnel and other transfers (a) Personnel appointments The Director may appoint and fix the compensation of such officers and employees as may be necessary to carry out the respective functions transferred by section 6. (b) Transfer and allocations of appropriations and personnel Except as otherwise provided in this Act, the personnel employed in connection with, and the assets, liabilities, contracts, property, records, and unexpended balances of appropriations, authorizations, allocations, and other funds employed, used, held, arising from, available to, or to be made available in connection with the functions