Transcript Slide 1

FI to CFO Career Path
Presentation to
FMI Manitoba Chapter
February 12, 2007
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Presentation Overview
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Context and Objective
Background
Detailed discussion of the FI to CFO
Career Path template
FI Community recruitment and
development
Questions?
Presentation by Emer Mullan to
FMI Manitoba Chapter
2
Context and Objective
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SFFOs have both individual and collective leadership
responsibility for FI community
Current process not working
SFFOs have decided to take control and manage the FI
community
CFO model will have ripple effect on entire
organization below CFO
In general, FIs being promoted too quickly without
adequate experience
Need to manage expectations of new recruits
Need to develop future CFOs
Need a roadmap that reflects the collective wisdom of
the senior leadership of the FI community
Presentation by Emer Mullan to
FMI Manitoba Chapter
3
SFFO Council Strategic Objective
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To facilitate building a sustainable FI
functional expertise and capacity to
support the next generation of public
service management
Presentation by Emer Mullan to
FMI Manitoba Chapter
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Background
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January 2006 – FI Working Group formed with
Bill Carrothers as Chair and Emer Mullan was 1
of 15 other members
FI Working Group was to develop a career path
that, in the opinion of senior leaders within the
SFFO community, is the ideal to prepare an FI
to become a CFO
Capture collective wisdom and wealth of
practical experience
Presentation by Emer Mullan to
FMI Manitoba Chapter
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Detailed Description of the FI
to CFO Career Path
The FI to CFO Career Path will:
 Focus on career leading to CFO, but we
recognize there are other specialized FI
career paths
 A roadmap and guide for managers and
FIs to understand expectations in
career planning
Presentation by Emer Mullan to
FMI Manitoba Chapter
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Detailed Description of the FI
to CFO Career Path
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SFFO Council FI to CFO career path is
generic, but we recognize significant
differences exist between departments
Career path populated by work group with
achievement requirements at each FI level
Lively and engaging discussion by work group
members
Range of opinions on some issues
Objective was to obtain the opinion of the
SFFO community
Presentation by Emer Mullan to
FMI Manitoba Chapter
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Detailed Description of the FI
to CFO Career Path
Assumptions and Constraints
 Other occupational groups perform finance function
(AS,ES,CR) but our focus on FIs
 Path relevant for non-FIs aspiring to become CFO
 Underlying assumption – Four levels for FI
occupational group
 Focus on vision rather than current challenges
constraining the development of this path
 Transition management will be formidable process
 First we must know where we are going then take
stock of where we are and then address the
management of the transition
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Detailed Description of the FI
to CFO Career Path
FI to CFO Career Path has 8 attributes:
1.
Years in Level
2.
Education *
3.
Professional Accreditation
4.
Bilingual Capacity
5.
Experience – functional *
6.
Experience – breadth *
7.
Management Skills *
8.
Competencies *
* Denotes attributes with sub-components
Presentation by Emer Mullan to
FMI Manitoba Chapter
9
Detailed Description of the FI
to CFO Career Path
Table Structure:
 Each cell indicates skill required for promotion
to the applicable FI level as indicated on the
horizontal axis
 Levels: FI-01 to FI-04, EX Other refers to an
EX in a specialist area other than a CFO or
Deputy CFO position
 EX-DCFO refers to an EX in a Deputy CFO
Position
 EX-CFO refers to an EX in a CFO Position
Presentation by Emer Mullan to
FMI Manitoba Chapter
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Detailed Description of the FI
to CFO Career Path
1.
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Years in Level
Years an FI typically requires at each level
to acquire skills required to advance to next
level
Assumes FIs will not stay in a single
function for length of time indicated but will
change functions during that period to get
range of experience required
Presentation by Emer Mullan to
FMI Manitoba Chapter
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Detailed Description of the FI
to CFO Career Path
2.
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Education
Formal education required to qualify for FI level
indicated
a) community college or part of undergraduate degree
(FI-01)
b) undergraduate degree, preferably in finance or a
related field is essential for an FI-01 to become an FI02 if they do not have professional accreditation
c) post graduate degree will improve capacity for
strategic thinking but work group did not consider this
essential
NA means not applicable as Professional accreditation
is essential at the FI-03 level
Presentation by Emer Mullan to
FMI Manitoba Chapter
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Detailed Description of the FI
to CFO Career Path
3. Professional Accreditation
 This is defined as a CA, CMA or CGA
with the FI being a member in good
standing
 Essential to become an FI-03
Presentation by Emer Mullan to
FMI Manitoba Chapter
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Detailed Description of the FI
to CFO Career Path
4.
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Bilingual capacity
“As required” indicates Official Language
policy drives language requirements
Some regions designated unilingual even up
to FI-04 but OL policy must be respected
Bilingualism at CBC level is essential beyond
FI-04
Presentation by Emer Mullan to
FMI Manitoba Chapter
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Detailed Description of the FI
to CFO Career Path
5.
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Functional experience
Six distinct sub functional areas in Finance
To become a CFO, FIs need diversity of experience
and knowledge, as CFO must speak with authority
in all functional areas
Experience in both 5a Financial Planning and
External Reporting and 5b Internal Resource
Management prior to the EX level
Essential for FIs to gain experience in two of four
remaining areas prior to EX level (Accounting
Operations, Financial Systems, Financial Policy,
and Costing)
Presentation by Emer Mullan to
FMI Manitoba Chapter
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Detailed Description of the FI
to CFO Career Path
6.
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Experience – Breadth
Experiential profile for ADMs well developed – WG
built hybrid of this with six sub components
(1) Program Delivery
(2) Departmental Diversity
(3) Central Agency
(4) Regional
(5) Complexity
(6) Managerial
Presentation by Emer Mullan to
FMI Manitoba Chapter
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Detailed Description of the FI
to CFO Career Path
Experience – Breadth (continued)
(1)
Program Delivery:
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CFOs expected, at some point in career, to
manage a program delivering services
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Essential for promotion to DCFO & CFO
level
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Experience in an administrative function in
support of program delivery not considered
adequate
Presentation by Emer Mullan to
FMI Manitoba Chapter
17
Detailed Description of the FI
to CFO Career Path
Experience – Breadth (continued)
2.
Departmental Diversity
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CFO requires experience in small,
medium and large departments to
understand finance issues and gain
different perspectives
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Essential for promotion to FI-04
Presentation by Emer Mullan to
FMI Manitoba Chapter
18
Detailed Description of the FI
to CFO Career Path
Experience – Breadth (continued)
3.
Central Agency
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Experience required for FIs to
understand inner workings of
government and extend personal
network
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Essential for CFO to have 12 to 18
months experience
Presentation by Emer Mullan to
FMI Manitoba Chapter
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Detailed Description of the FI
to CFO Career Path
Experience – Breadth (continued)
4.
Regional
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CFO require experience in a region
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Experience should include
communications with senior staff in
other levels of government
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Essential for promotion to FI-04 level
Presentation by Emer Mullan to
FMI Manitoba Chapter
20
Detailed Description of the FI
to CFO Career Path
Experience – Breadth (continued)
5.
Complexity
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CFOs require extensive experience in
the full range of financial management
activities including operating funds,
capital, and grants and contributions
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Essential for promotion to FI-04 level
Presentation by Emer Mullan to
FMI Manitoba Chapter
21
Detailed Description of the FI
to CFO Career Path
Experience – Breadth (continued)
6.
Managerial
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Government’s new definition of
manager is a person who has both
delegated staffing authority and
delegated financial signing authority
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Essential for promotion to FI-03 level
Presentation by Emer Mullan to
FMI Manitoba Chapter
22
Detailed Description of the FI
to CFO Career Path
7.
Skills
(a) Oral and written communications
(b) Risk Management
(c) Negotiation skills/integration
function
Presentation by Emer Mullan to
FMI Manitoba Chapter
23
Detailed Description of the FI
to CFO Career Path
7.
(a)
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Skills (continued)
Oral and written communications
As functional specialists CFOs must communicate
effectively at top end of communication scale
Required for CFOs to facilitate negotiations and
convey information to senior management
Intermediate level for FI-01 and FI-02
Strong level for FI-03 and FI-04
Advanced level for EX
Presentation by Emer Mullan to
FMI Manitoba Chapter
24
Detailed Description of the FI
to CFO Career Path
Skills (continued)
(b) Risk Management
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Prominent in modern comptrollership
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As a functional specialist, CFO must advise and
speak competently on the integrated risk
management policy of the government
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Ability (especially when faced with uncertainty) to
make sound decisions and work effectively
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Intermediate level for promotion to FI-02
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Strong level for promotion to FI-03
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Advanced level for promotion to EX
7.
Presentation by Emer Mullan to
FMI Manitoba Chapter
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Detailed Description of the FI
to CFO Career Path
Skills (continued)
(c) Negotiation Skills/Integration Function
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“Honest broker” role of CFO, the capacity to
mediate divergent points of view within an
organization
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Integrating non financial results with
financial results
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Intermediate level for promotion to FI-03
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Strong level for promotion to FI-04
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Advanced level for promotion to EX
7.
Presentation by Emer Mullan to
FMI Manitoba Chapter
26
Detailed Description of the FI
to CFO Career Path
8.
Competencies
Seven competencies as defined by PSHRMAC for
managers (see separate attachment for
explanations)
(a) Values and ethics
(b) Strategic thinking – Analysis
(c) Strategic thinking – Ideas
(d) Engagement
(e) Management excellence – Action
(f) Management excellence – People
(g) Management excellence - Finance
Presentation by Emer Mullan to
FMI Manitoba Chapter
27
FI Community recruitment and development
1.
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5.
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7.
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FI Population Statistics
Financial Officer Recruitment and
Development Program (FORD/IARD)
FI-03 FI-04 Development Pilot Project
FI-03 FI-04 External competition
AEXDP
EX-03 Recruitment
CMA/CIPFA Designation
CSPS – 20 courses in financial management
and comptrollership
Presentation by Emer Mullan to
FMI Manitoba Chapter
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