fi to cfo career path presentation to fmi manitoba chapter february 12, 2007

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FI to CFO Career PathPresentation to

FMI Manitoba ChapterFebruary 12, 2007

Presentation by Emer Mullan to FMI Manitoba Chapter

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Presentation Overview Context and Objective Background Detailed discussion of the FI to

CFO Career Path template FI Community recruitment and

development Questions?


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Context and Objective 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


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SFFO Council Strategic Objective

To facilitate building a sustainable FI functional expertise and capacity to support the next generation of public service management


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Background 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


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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


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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

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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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FI to CFO Career Path has 8 attributes:1. Years in Level2. Education *3. Professional Accreditation4. Bilingual Capacity5. Experience – functional *6. Experience – breadth *7. Management Skills *8. Competencies ** Denotes attributes with sub-components


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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


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1. 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


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2. 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 FI-02 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


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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


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4. 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


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5. 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)


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6. 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


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Experience – Breadth (continued)(1) Program Delivery: CFOs expected, at some point in career,

to manage a program delivering services Essential for promotion to DCFO & CFO

level Experience in an administrative function

in support of program delivery not considered adequate


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Experience – Breadth (continued)2. Departmental Diversity CFO requires experience in small,

medium and large departments to understand finance issues and gain different perspectives

Essential for promotion to FI-04


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Experience – Breadth (continued)3. Central Agency Experience required for FIs to

understand inner workings of government and extend personal network

Essential for CFO to have 12 to 18 months experience


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Experience – Breadth (continued)4. Regional CFO require experience in a region Experience should include

communications with senior staff in other levels of government

Essential for promotion to FI-04 level


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Experience – Breadth (continued)5. Complexity CFOs require extensive experience

in the full range of financial management activities including operating funds, capital, and grants and contributions



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Experience – Breadth (continued)6. Managerial Government’s new definition of

manager is a person who has both delegated staffing authority and delegated financial signing authority



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7. Skills(a) Oral and written communications(b) Risk Management(c) Negotiation skills/integration function


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7. Skills (continued)(a) 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


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Detailed Description of the FI to CFO Career Path7. Skills (continued)(b) Risk Management Prominent in modern comptrollership As a functional specialist, CFO must advise

and speak competently on the integrated risk management policy of the government

Ability (especially when faced with uncertainty) to make sound decisions and work effectively

Intermediate level for promotion to FI-02 Strong level for promotion to FI-03 Advanced level for promotion to EX


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Detailed Description of the FI to CFO Career Path7. Skills (continued)(c) Negotiation Skills/Integration Function “Honest broker” role of CFO, the

capacity to mediate divergent points of view within an organization

Integrating non financial results with financial results

Intermediate level for promotion to FI-03

Strong level for promotion to FI-04 Advanced level for promotion to EX


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8. CompetenciesSeven 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


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FI Community recruitment and development

1. FI Population Statistics2. Financial Officer Recruitment and

Development Program (FORD/IARD)3. FI-03 FI-04 Development Pilot Project4. FI-03 FI-04 External competition5. AEXDP6. EX-03 Recruitment7. CMA/CIPFA Designation8. CSPS – 20 courses in financial

management and comptrollership

fi to cfo career path presentation to fmi manitoba chapter february 12, 2007

Documents

cfo career paththe fi

fi communitypresentation

fi levellively

cfo career pathsffo

cfo career pathassumptions

cfo career pathpresentation

cfo career pathfi

emer mullan