Government Finance Profession

1. I have an intimate understanding of, and can guide the long-term development of, the organisation’s business model. I’m a compelling communicator of strategies, trends and risks.

I can understand and can explain:

• the financial strategy of the organisation within the broader government arena, including risks, constraints and policy implications.
• the recent financial performance of the organisation, why key trends have occurred, and what strategies are in place to improve future performance.
• the main economic and financial strategies of government.

I can provide evidence that I have:

• made confident appearances at Select Committees and similar fora, explaining complex financial issues with clarity aligned to audience needs.
• led compelling internal staff briefings to set business direction, ensuring an understanding of key financial plans, goals, issues and risks.
• influenced Board decisions on key financial matters.

• “Mini MBA” covering theory and practice of financial management, corporate finance and market economics.
• Briefings on economic policy.
• Updates on government economic and financial performance.

2. With Board colleagues, I can set and monitor challenging business plan goals, targeting continuous improvement in the overall efficiency and effectiveness of the organisation’s resources. My long-term, innovative thinking and networking stimulates new opportunities or solutions and the early identification of corporate risks

I can understand and can explain:

• why the particular targets/ goals have been set for the organisational/ business plan.
• the relative costs and benefits of pursuing different delivery options.
• the key features of the Operating and Financial Review and Statement of Internal Control.
• general/ specific comparisons between public and private operations.
• how political and business issues/ drivers impact on the business.
• effective corporate governance and risk management.

I can provide evidence that I have:

• been instrumental in agreeing/ influencing the targets included in the business/organisational plan
• identified systematic issues/problems which would impact on ability to deliver the plan and developed solutions to deal with these.
• identified and promoted opportunities to instil rigor into the organisation’s systems and procedures.
• researched commercial practice, challenging and taking up best examples.
• made effective representation in the commercial and public service arenas.

• Provision of briefings for Permanent Secretary and Ministers alike
• Strong financial and performance management skills
• Develop an awareness of political and business issues/ drivers.
• Gain experience and network within the wider commercial market.
• Enhance skills in corporate governance and risk management.

3. I am fluent at interpreting a wide range of financial information, including market analyses, and can use this to determine policy and strategy.

I can understand and can explain:

• what financial data I need to support my decision-making and forecasting.
• how management information needs to be developed to improve Board decisions and what organisational risks exist in the meantime.
• the key financial variables I look for when assessing or reviewing policy and investment decisions.

I can provide evidence that I have:

• challenged plans and budgets at Board level
• undertaken routine reviews of financial performance and held staff to account for their decisions.
• demonstrated as bias for action and decision-making.

• “Mini MBA”: core financial tools and principles: strategic financial management, corporate finance, interpreting financial reports.
• Performance management to enhance line-management review.
• One to one coaching in accounting and financial management on the more complex areas e.g. long-term financing.

4. I can foster an organisational culture that encourages best practice and public sector governance. I consistently monitor business performance against these standards.

I can understand and can explain:

• institutional structures and organisational behaviors;
• comparative practice in public and private sector bodies

I can provide evidence that I have:

• reviewed and set governance and internal control framework for my area;
• advocated high standards of ethical behaviour to colleagues and subordinates
• advised Ministers/Board on issues of regularity and propriety

• Service as a non-executive director for a public sector body.
• Service on an audit and/or risk committee.
• Practical experience of governance practice in other organisations

5. I can champion the role of Finance within the organisation, and maintain an effective relationship with my Finance Director.

I can understand and can explain:

• the strategic role of finance and financial management
• structure of professional development for finance professionals and finance management skills for other staff in my organisation
• sources and significance of strategic level financial information

I can provide evidence that I have:

• worked with senior finance professionals to integrate finance issues into corporate strategy
• collaborated to specify meaningful strategic level financial information requirements
• nsure effective collaboration between finance and other staff in my command.

• Have undertaken structured training in the area of strategic financial management.
• Understanding of the impact of changes in accounting policy to short, medium and long term financing.
• Seek one-to-one coaching from the appropriate financial professional.