Transcript Discount Rates for Public Sector Employee Benefit and

2012 Financial Management in the
Government of Canada
Winnipeg & Regina FMI Chapter
October 24th and 25th 2012
Presented by: the Office of the Comptroller General,
Financial Management Sector,
Capacity Building and Community Development Team
Welcome
• Introduction of the Office of the Comptroller General,
Financial Management Sector
– Juliet Woodfield, Senior Director, Capacity Building
and Community Development (CBCD) Team
2
Agenda – Financial Challenges
• Current Environmental Overview
• Financial Officer Training
• Successful interviewing, resume preparation, and
networking
3
Current Environmental Overview
4
Overview
• Financial Management Environment & Context
• Developments in Financial Management
• Developments in Financial Reporting
• Financial Management Transformation Initiatives
5
The Financial Management Environment
237.1 B revenues
369,000 FTEs
>1 M payments per working day
5 DFMS* in use
88.2% expenditures managed
through SAP*
132 Departments & Agencies
90% FTEs in departments
using SAP*
239.6 B expenses
Sources of Data:
* With HRSDC as an SAP user
2010-2011 Public Accounts
2012-2013 Departmental RPPs
Association of Canadian Financial Officers
Administrative Systems Inventory 2011-2012
6
Return to Balanced Budgets
Canada expects a full recovery from the 2006 Financial Crisis
by 2014/2015
Source: http://www.budget.gc.ca/2012/plan/chap1-eng.html#a10
7
Canada’s Fiscal Outlook
• Projected Total Government Net Debt, 2016
Source: http://www.budget.gc.ca/2012/plan/chap6-eng.html
8
Current Environmental Context
• Economic Recovery & Jobs
• Cost Containment & Productivity
• Standardized Business Processes & Service
Consolidation
• Supporting Enterprise-Level Decision Making
9
Developments in Financial Management
• Internal Controls
• Cost Containment
• Attestation
• Community Succession Planning, Talent management
• E-Invoicing and Payment and Direct Deposit - Accomplishments
and forward planning
10
Internal Controls
• Financial Management Policy Suite in place
• Foundation of sound financial management - Effective Internal
Controls
• Internal controls are integral to cost containment measures and
reliability of financial information and reporting
• Policy requires annual risk-based assessment of effectiveness of
internal controls over financial reporting which is not yet requiring
public attestations on effectiveness per Sarbanes–Oxley
• Good progress is being made as demonstrated in the annual
published departmental reports on results and action plans
11
Cost Containment
• Continued incentives to contain/reduce costs
• Focus on productivity enhancements to systems,
processes, data and performance management
through, for example:
– FM transformation will lead to efficiency gains in business
processes and streamlining of service delivery hubs
– Rigorous financial information to underpin decisions on
proposals – CFO attestation
– Measuring performance of grants and contributions and
user fees
12
Attestation
• Establishing a framework for consistent CFO due
diligence on the financial aspects of Cabinet
proposals
• Six core financial management assertions and a CFO
Representation Letter on conclusions and
observations for each plus an overarching conclusion
• Critical to meet heightened expectations of ministerial
decision makers and to ensure rigour of financial
information
13
Community-Succession Planning, Talent
management
The Chief Financial Officer (CFO) position in the federal government
of Canada:
•exists in over 100 departments and agencies;
•is a key role to the financial functioning of the federal
government;
•has been identified as being at risk due to changing
demographic factors; and
•requires incumbents to have an advanced level of both
leadership and business skills.
The Office of the Comptroller General has launched a CFO Talent
Management initiative in the summer of 2012 with the objective of
ensuring an adequate supply of qualified individuals in the
community who are ready to assume the CFO role.
14
E-Invoicing and Payment and Direct Deposit Accomplishments and Challenges
• Task Force for the Payments System Review Set-up by Minister of
Finance in June 2010:
– Compelling need for a payments system overhaul
– Implementation of electronic invoicing and payments for all
government suppliers and benefits recipients
• Accomplishments:
– Coding structures defined, procurement items being defined
– E-invoicing data sets being reviewed with RG
• Challenges:
– Integration, training and complying with legislation such as FAA sect
32,33 and 34
15
Community-Succession Planning, Talent
management
The CFO Talent Management Process has three key elements:
1.
CFO community data collection:
•
Data collected through the Chief Human Resources Officer’s
Executive talent management system will be used to build a
CFO community profile.
2.
CFO community analysis:
•
The CFO Community profile will help to identify potential CFO
candidates and succession gaps.
3.
CFO community development:
•
Results of the CFO community analysis will identify professional
development needs as well as required key competencies for
the CFO community.
16
Developments in Financial Reporting
• Quarterly
financial reports (QFR’s)
• Accounting Standards
17
Quarterly financial reports (QFR’s)
• First QFR’s prepared by departments and Crown corporations
in June 2011
• QFR’s provide more timely, in year financial information at the
organization level than had been previously available
• QFR’s contain:
– Departmental expenditures compared against the
authorities
– Comparative financial information for the preceding fiscal
year
– A narrative section
• Increasingly will be used to report on the impact of Budget
decisions
18
Accounting Standards
• Employee termination benefits (Budget 2012
measures)
• IFRS/PSAS conversion for certain government
entities
• Newly introduced concept of Net debt in
departmental financial statements
• New accounting standards:
– Financial Instruments
– Liabilities for contaminated sites
– Government Transfers
– Tax Revenue
– Financial Statement Presentation
19
Financial Management Transformation Initiatives
• Convergence of Financial Systems and Processes
•Canada is converging their remaining 5 departmental financial
management systems into one standard configuration;
•Governance structures and times lines are now being developed for the
government moving forwards;
• Consolidation of Financial Services
•Strategic information for decision making is of better quality and faster
to produce (e.g. CEDI, OpenGov, etc.)
•Improved stewardship of scarce resources
•Better and more efficient containment costs and financial management
resources (People, processes and information)
20
Management Accountability Framework (MAF)
MAF is an assessment of departmental performance in a number
of key management areas including financial management.
Three main objectives
1. Clarify management expectations for deputy heads;
2. Develop a comprehensive and integrated Treasury Board
perspective on management issues and challenges; and
3. Determine enterprise-wide trends and systemic issues.
21
...using a four point “Maturity Model”
scale
Acceptable*
• Robust corporate
engagement
Opportunity for
Improvement
• Aware of its deficiencies
and taking steps to
redress
Attention
Required
• Plans/activities may be
underway and
accountabilities may be
assigned
• Little corporate attention
• Corporate engagement
not yet sustained
• Little effort to
understand vulnerability
• Little done about key
issues
• Continuous learning and
improvement to achieve
highest standards
• Sets best practices
In most areas of
management, focus is on
growing capability and
improved practice
• Gathers little information
regarding its conditions
Strong
• Derives greatest value
from its management
• Is a leader and an
example to others
• Sound management
infrastructure in place
• Compliant with TB
policies
• Demonstrated
accountability
*represents TBP expectation/requirement
of all organizations
In areas where new TB
policies are being phased in
(e.g. audit, evaluation),
focus is on progress
towards full implementation
22
Convergence of Financial Systems and
Processes
• Canada is converging their remaining 5 departmental financial
management systems into one standard configuration
• SAP is the system of choice (ERP Standard)
• Many concepts of operations are being reviewed – departmental
clustering, outsourcing functions, hybrid solutions, shared services
solutions, etc
• Legislative frameworks already exist to allow this to happen
• Governance structures and timelines are now being developed for
the government moving forward
• Convergence will not be organic – we will accelerate
23
Consolidation of Financial Services?
Enterprise
• Differing concepts of operations can be contemplated
• Administrative service delivery is improved and made more
efficient
• Strategic information for decision making is of better quality
and faster to produce (e.g. CEDI, OpenGov, etc.)
Departments and Agencies
• Better information and analysis tools for organisations
• Improved stewardship of scarce resources
• Better and more efficient containment costs and financial
management resources (People, processes and information)
24
So what does this all
mean to the financial
officer community?
25
Accounting Profession –
Landscape across Canada
• The unification initiative is progressing quickly at
the national and provincial levels
• Some parties have left discussions
• A three-way unification completed in Quebec
• Proposals between CAs and Certified
Management Accountants (CMAs) reached in
many provinces except:
(a) Alberta, where CMAs are poised to unify with
the Certified General Accountants (CGAs), and
(b) Ontario, where only the ICAO is supporting
joining CPA Canada
26
CA-CMA-CGA unification information
• A Framework For Uniting The Canadian Accounting
Profession
• Professional Environment: Canadian and International
• Four Unification objectives translated in benefits for
members
• Next Steps Unification Framework:
– Canadian accounting profession is provincially
regulated
– Any decisions regarding merger proposals would be
made provincially
– Unification status interactive map: http://cpacanada.ca
27
Canadian CPA Certification Program
• Program Design
• CPA Competencies
• Program Details
• Education
• Examinations
• Practical experience
• Transition
28
CPA Professional Education Program
Anticipated Key Target Dates
Fall 2013:
• CPA Professional Education Program will be
available
Fall 2014:
• Final full offering of the CA UFE
Fall 2015:
• The first CPA Common Final Examination will be
written
29
CPA Impact on Recruiting and Development
in the Government of Canada
• OCG is actively following the merger discussions.
• OCG will be reviewing the implications of the CPA
merger and professional program on the financial
officer community and the current recruitment
and development programs.
30
Financial Officer Training
31
Managing your career
during challenging
times
32
Financial Officer Career Management
Tool Kit
33
Financial Officer Career Management
Tool Kit
• FI to CFO Career Path
• Competencies
• FI core curriculum
• Financial Management Community Strategic Plan
• Current Environment of Fiscal Restraint
34
Financial Officer Training–
FI to CFO Career Path
– Developed by the DCFO Council to help Financial officers and
financial executives map out their career objectives and goals
against pre-determined criteria
– Focus is on reaching a CFO position but can also be used for other
specialized career paths within finance
– Works on two dimensions: the number of levels before obtaining a
CFO position and the specific requirements of each of these levels.
• OCG working with FM community on revitalizing the FI to CFO Career
Path (two distinct paths that interconnect). Will take into consideration
requirements of CFO Talent Management Initiative.
• New career path will include a “Welcome to the FM Community” page
for each level in the career path (FI and EX) and will be housed on FM
community GCPedia page:
http://www.gcpedia.gc.ca/wiki/Financial_management_community
35
Financial Officer Training –
FI Competencies
• Competencies are defined by the Public Service
Commission as being “the characteristics of an
individual which underlie performance or behaviour
at work”.
• In order to remain relevant, competencies must
evolve with the role or job.
36
Financial Officer Training –
FI Competencies
Benefits to using competencies:
Employer’s Perspective
Employee’s Perspective
•Greater insight into breadth and
depth of individual’s experience
•Career management and
progression.
•Can substantiate information
provided by individual through
validation
•Better understanding and
verbalization of accomplishments
and experience
•More pointed and pertinent
discussions regarding employee’s
professional development
requirements
•Can substantiate work experience
with concrete work examples
•More pertinent feedback from
manager/mentor on areas of
professional development
37
Financial Officer Training –
FI Competencies
FI Competency profiles
Behavioural (includes the 7 key leadership competencies)
•
•
•
•
•
•
•
Oral and written communications
Risk Management
Negotiation
Values and Ethics
Strategic Thinking: Analysis and Ideas
Engagement
Management Excellence: Action, People, Finance
Functional (based on four FM functional areas)
•
•
•
•
accounting and reporting
planning and resource management
Financial policy,
Financial Systems
38
Financial Officer Training –
FI Competencies
• The FI Competency Profiles and the Employee guide on
Competency-based Management have been approved by the
Comptroller General
• Guidelines and a Managers guide on Competency-based
Management are being developed (anticipated completion
date September 2012)
• All competency documents will be posted on the FM
community GCpedia site at:
http://www.gcpedia.gc.ca/wiki/Financial_management_community
• Training will be provided for managers in October 2012 and
for employees in January 2013
39
Financial Officer Training –
FI Core Curriculum
• Developed in conjunction with the Canada School
of Public Service
• Consists of courses and training events that
address the knowledge and skills required of all
financial professionals to meet their legal
responsibilities
40
PROFESSIONAL DEVELOPMENT FOR FINANCIAL MANAGEMENT SPECIALISTS
FM Certificate Program
Education/Professional
Accreditation
BASIC
FUNCTIONAL
STRATEGIC
DEVELOPMENTAL
F111 – Financial Mgmt.
Control Frameworks
C210 – Introduction to Risk
Management
Intro to Revenue and
Funding Arrangements
ESSENTIAL
Risk Management for Finance
The Application of Revenues and
Funding Arrangements
Costing in Government
TRAINING
Business Analysis
New for
2012/13 – csps
now accepting
registrations
F708 – TB Submissions – MCs
F225 – Reporting & Budgeting: A
Case Study
Integrated Risk Assessment &
Management
Strategic Series: name of
speaker and/or subject presented
(Strategic Business Analysis,
Resource and Financial
Management, Reporting and
Budgeting)
STRATEGIC ASSESSMENT
CORE
F113 – Financial Mgmt.
Systems
FUNCTIONAL ASSESSMENT
TRAINING
F112 – The Govmt Planning,
Budgeting, Report. & Eval.
Cycle
BASIC ASSESSMENT
REQUIRED
•
•
•
•
•
•
•
•
•
•
•
Change Management
Project Management
Negotiating Skills
Facilitation Skills
Effective Writing
Communications
HR Management
Effective Presentations
Client Service
Problem Solving
Working in Teams
41
Financial Officer Training –
FI Core Curriculum
2012-2013 New Activities:
• Strategic Series – Schedule of events:
– Expectation seminar (Oct 19)
– Strategic Relationships for Finance Managers
(Dec 3)
– Two minute briefings (Dec 14)
– Managing sensitive conversations (Jan 15)
– Seizing opportunities in a change environment
(Jan 25)
– Management and Leadership: Master both! – full
day event (Feb 15)
42
Financial Officer Training –
FI Core Curriculum
2012-2013 New Activities:
• New courses update:
– Risk Management for the Finance Professional –
Course content under development
– Introduction to Revenue and Funding
Arrangements – Course Training Plan (CTP) to be
approved
43
Financial Officer Training –
FM Community Strategic Plan
• The 5 year strategic plan will be developed to incorporate the
needs and priorities of the financial officer community
• FM Community Survey Questionnaire is under development and
will seek input on demographics, mobility and learning and
professional development priorities. Anticipated release date –
late October, 2012. All FIs and EXs will be invited to participate
• Focus groups or workshops will be conducted late fall 2012 to
identify the community’s maturity against its proposed “ideal’
state and to develop key HR strategies and activities for the next
5 years
44
Financial Officer Training –
Current Environment of Fiscal Restraint
Training and Career Development
• New and creative strategies required; increased
emphasis on collaboration and in-house opportunities
• Emphasizes the importance of learning plans
• The responsibility for professional development is
shared by both the employee and management
45
Successful Interviewing, Resume
Preparation and Networking
46
Managing your career
•
•
•
•
•
Preparation – useful questions
Competition process
Resume preparation
Interviewing
Networking
47
Career Planning - Useful Questions
Questions that can help you chart the right course:
•
•
•
•
•
•
Who are you?
What are you looking for in an organization or job?
What is important to you?
What are you looking for?
How do you learn best?
What tools do you have at your disposal?
(competency profiles, manager/peer feedback,
evaluations, self-assessments, learning
curriculum, career path, personal learning plan)?
48
Staffing Process
Poster & SoMC (Publiservice)
Application
(application form, covering letter, resumé, other documents)
Part 1
Part 2
Screening
Preparation (should start at time of application)
Written Exam
Interview
Part 3
Closing the Process (Post-Mortem & Recourse)
Black = employer
Blue = prospective candidate
49
Poster
- Actual job opportunity advertisement
- Includes some of the information detailed on the Statement of Merit Criteria
- Provides other information such as:
• Area of selection – who and where*
• Closing date*
• General inquiries information (contact person)
• Where and how to submit your application
• Other information/requirements about the process:
– Documents required and format*
– Tools that may be used to assess candidates
– Results expected (job offers, pool of candidates, etc.)
– Any other important information for the candidates
It is important to submit all documents in the format requested and within the
timeline indicated as failure to do so would affect your eligibility into the process
* Part of selection criteria
50
Statement of Merit Criteria (SoMC)
Provides specific information about the requirements of the position (for screening and
assessing purposes). What is on SoMC will be evaluated.
•
•
General Information
– Selection process number, position title, classification(s), federal
organization(s), location(s)
Must be
clearly
demonstrated
•
Essential qualifications (must be met independently):
– Elements used for screening purposes:
• Screening Qualifications (education, experience, competencies)
– Assessed by means of exams, simulations, interviews, etc.
• For knowledge & competencies
Official Language Proficiency (must be met prior to hiring)
•
Conditions of Employment (Example: Security clearance)
•
Asset Qualifications (Qualifications that are not essential to perform the work, but
which would, now or in the future, benefit the organization or be an enhancement in
terms of the work to be performed). Can be used for screening & selection purposes
•
Operational Requirements (overtime, travel, etc.)
•
Organizational Needs (Used to target groups such as visible minorities, women,
persons with disabilities, etc.). Can be used in selecting a candidate.
51
Values
The guiding values of the Public Service Employment
Act (PSEA) are: Fairness, Access,
Representativeness and Transparency.
52
Screening
• Documents/Information used for screening purposes:
- Application
- Covering letter
- Resumé
- Supporting documents
- Deadlines
• Education
– Level of post-secondary education (diploma, degree, master’s, etc.)
and institution
• Experience
– Use proper wording that reflects the requirements stated in the
Statement of Merit Criteria (For example: coordinate ≠ manage)
Only candidates who meet the essential criteria can be screened-in for consideration
53
Screening (continued)
• Supporting documents
-
-
Attach all other requested documents (Proof of education, citizenship
documents, performance assessments from previous employer (s),
etc.)
If you do not provide them, you may be screened-out
• Deadlines
– Screening factor – must be met
54
Application form & cover letter
•
Most applications must be submitted on-line through Publiservice
•
If paper applications are accepted, use the format required in the poster
•
Include ALL requested information & documentation
•
If some information/documentation is missing, you may be screened-out
– The application form can be used as a screening tool
•
Cover Letter (often used as a screening tool):
– This is the first impression you make on the employer and shows how
well you communicate in writing
– Shows the employer why they should consider your résumé
– Opportunity to highlight how your skills and qualifications will benefit
the employer
– If indicated in the poster, make sure you follow the desired format
• For example, if required, use headings or bullet format
Tip
Trap: Some candidates fail to use the required format in the cover letter
and are screened-out on this basis
55
Resumé - Showcase yourself!
-
A "snapshot" of you
- You must highlight:
- Your education - level of post-secondary education
(diploma, degree, master’s, etc.) and institution
- Your work history
- Your work experience – remember to use proper wording
(For example: coordinate ≠ manage)
- Your acquired competencies & skills
- Must be clear, concise and demonstrate that you meet all
essential qualifications identified on the SoMC
56
Resumé (continued)
Resumé should be:
Written with the employer’s interests in mind
Professional in appearance
Targeted for a particular job or organization
“Letter-perfect” - spelling and grammar mistakes = bad impression
on potential employer
 Honest and clear demonstration of your skills, abilities and
achievements
 Clear indication of what you offer to the employer




Note: When documents are submitted through online application forms, proper
formatting is not always possible
57
Tips and Tricks for a good Resumé
• Useful link to help you prepare your resumé:
–
http://www.youth.gc.ca/eng/topics/jobs/resume.shtml
• You can find a resumé builder on the following Service Canada
website:
–
http://seekers.jobbank.gc.ca/commun-common/connection-login.aspx
• Google can provide you with many “examples of resumés”. For
example:
–
http://jobsearch.about.com/od/sampleresumes/a/sampleresume2.htm
58
-
Preparing for Exams and/or Interviews
-
Participating in Exams and/or Interviews
-
Closing the Process (Post-Mortem & Recourse)
59
Preparing for exams/interviews
Why is it important?
– Increases your chances of obtaining what you are
aiming for:
• Prepares you to make a great first impression!
– Demonstrates keen interest in the position
– Demonstrates your professionalism and knowledge of
the organization
– Even if you are not successful, you will be better
prepared for future competitions
– Avoids wasting everyone’s time (reputation is
everything)
60
Preparing for exams and/or interview

Remember, an interview is a two-way exchange of information
– The interviewer is interested in three things:
 Can you do the job?
 Will you do the job?
 Will you fit the job?
You will need to be able to demonstrate this during the interview and/or exam
You want to know if the organization is right for you and your career goals

Review SoMC and make sure you understand all elements which will be assessed in
the exam or during an interview (knowledge, competencies & skills)

Things to consider as you prepare yourself:
Find out everything you can about the specific position
Practice introductions
- Practice responses to interview questions, but don't try to memorize them.
Being yourself is essential to interview success. Responses need to feel and
sound natural.
To give a top-notch interview, you need to know the answers to three critical
questions:
 Why do I want this job?
 What do I have to offer?
 What else do I need to know?
61
Preparing for exams and/or interview
(continued)
-
Review appropriate documentation to prepare for questions
-
-
Departmental website
Central agencies’ websites
General specialized documents
Contact appropriate resources
-
Friends
Colleagues
Departmental contact(s), etc.
62
COMMON TYPES OF ORAL
ASSESSMENT QUESTIONS
•
•
•
•
•
“ABOUT YOU” QUESTIONS
SITUATIONAL QUESTIONS
KNOWLEDGE QUESTIONS
BEHAVIOUR BASED QUESTIONS
ROLE PLAY
63
Participating in the interview/exam
Be well-prepared
Arrival:
- Arrive 15-20 minutes before the specified time
- Bring requested documents (if any)
- Dress for success *
men: jacket, pants, shirt and ties
women: jacket and pants or skirt
and
appropriate footwear (no flip flops)
64
Participating in the interview/exam
Be well-prepared
Exam:
- Come well prepared
 You've arrived a few minutes early, checked your
appearance, are unfailingly polite and pleasant with
reception
 Come well-prepared (well-rested, pen & paper, watch,
snack, water, documentation if allowed, etc.)
- Read all questions first and allot your time accordingly
- Answer questions you know first
- If time permits, check your work
- Neat and legible responses will assist the evaluator
* Unless there is a cultural, religious or other personal reason for
not doing so – in this case, you may wish to explain your custom
at the interview
65
Participating in the interview/exam
Be well-prepared (continued)
At the interview:
- Make your entrance (smile, firm handshake, confident
demeanour, good eye
contact and friendly, enthusiastic manner) *
- Take notes
- Present a detailed, specific and positive picture of what you can
do, using concrete
examples
 Listening, confidence, and quality of presentation are the
keys to successful interviewing.
 Employers are looking for enthusiasm, some knowledge of
the organization, confidence, and an ability to work well in
their environment.
 The interview is also your opportunity to assess the
organization. Do you want to work there? Can you contribute,
get new skills, have a chance to advance, or will this position
open doors for you?
66
Participating in the interview/exam
Be well-prepared (continued)
Ending the interview:
- ask
questions that show your knowledge of the
organization
- ask when they anticipate a decision will be
made and how candidates will be informed
- Shake hands * and thank the interviewers for
their time and for the opportunity to participate
* Unless there is a cultural, religious or other
personal reason for not doing so – in this case,
you may wish to explain your custom at the
interview
67
Interviews
PREPARATION
• “If you’re not practicing, somebody else is,
somewhere, and he’ll be ready to take your
job.”
~Brooks Robinson
• “Success depends upon previous
preparation, and without such preparation
there is sure to be failure”
~ Confucius
68
Interviews
• Preparation is the key factor in ensuring success
in a selection process.
• Candidates should not leave their future to
chance.
• Candidates should take control of their future and
ensure that they are both physically and mentally
ready for assessment.
69
Thank you for the opportunity to speak with you
today.
70
Contact us:
Juliet Woodfield, CA
Senior Director
[email protected]
(613) 957-0578
Alain Lesieur, CGA
FORD/IARD and CAST Manager
[email protected]
(613) 946-7635
Marcel Gendreau, CPA, CMA
Senior Policy Analyst
[email protected]
(613) 952-3350
Sylvie Séguin, CGA
Senior Policy Analyst
[email protected]
(613) 946-6242
71