Prepared by: Office of the Comptroller General Treasury Board of Canada Secretariat Presented by: Sylvie Séguin, C

1. Prepared by: Office of the Comptroller General Treasury Board of Canada Secretariat Presented by: Sylvie Séguin, CGA Acting Senior Director Financial Management Community Development Office of the Comptroller General Key Competencies for the Strategic Business Advisor FMI Vancouver Chapter May 6, 2014

2. Presentation Overview Part I: Knowing the Expectations Competencies The ideal strategic business advisor Part II: Investing in your Career Learning and development tools to support you in managing your career Talent management for the FM community

3. What Are “Competencies”? Defined as… The characteristics of an individual that underlie performance or behaviour at work.* They are: Measurable Observable “Can do” + “Will do” = Competencies (Skills, knowledge) (Behaviour) *Source: Public Service Commission of Canada

4. Competency Overview The Competency Iceberg

5. Who uses competencies? Competencies are used by: Professional accounting bodies (CA, CGA, CMA, CPA) Office of the Chief Human Resources Officer (Key Leadership Competencies) Educational institutions

6. Competencies are used as part of sound Human Resources practices Statements of Merit Candidate Assessment Tools Job Competency Profiles Professional Dev Program Performance Objectives Learning Curriculum Performance Assessment Learning Plans

7. Financial Officer Competency Dictionary Thekey competencies (behavioral and technical) to successfully fulfill requirements of a job/profession There is a progression in proficiency (logical and cumulative) Indicatorsdescribe behaviors that an employee demonstrates at that proficiency level List includes key behaviors for each competency, it is not exhaustive List has to be manageable and accessible Each indicator is measurable and uses action verbs Vocabulary must be relevant to users but also be in plain language

8. Key aspects of each competency Proficiency levels equate to corresponding FI level Competency title and short definition Key indicators associated with each proficiency level

9. FI Competency Dictionary

10. FI Competency Dictionary

11. FI Competency Dictionary

12. Successful Performers Successful performers: Display professional behaviour in a consistent manner; Fulfill job requirements by being productive and effective at their work level Perform at or above the job level (quality, timeliness and responsiveness) as a matter of course Use particular approaches and demonstrate specific behaviours that facilitate meeting of objectives Poor Performer Successful Performer Far Exceeds Expectations

13. Hiring the Right People Competency-based staffing and selection methods: the better the “fit” between the requirements of a job and the competencies of an incumbent, the higher job performance and job satisfaction will be Competency-based staffing tools and methods are designed to elicit details regarding candidates’ critical experiences, based on the premise that past performance is a good predictor of future performance on the job

14. Learning and Development Competencies should be used as a basis for the development of learning plans, and can help managers focus on the learning activities that best correspond to the development needs of their employees Key questions for managers: Is the individual performing to his/her best ability? What may be keeping him/her back? Is the individual ready for a promotion? Are there other elements that should be considered? Key questions for employees: Am I performing to my best ability? What is keeping me back? What other work would I like to perform? Am I ready for a promotion? What else do I need to consider?

15. Performance Assessment Use of competencies in the performance management cycle ensures that individuals are evaluated on criteria that are relevant to the job and they are aware of these criteria It facilitates communication with management and provides benchmarks against which performance can be evaluated Provides transparency and a greater sense of empowerment

16. The Ideal Strategic Business Advisor: Key Competencies

17. The Ideal Strategic Business Advisor Behaviours Behavioural Competencies • Oral and Written Communications • Strategic Thinking – Analysis • Strategic Thinking –Ideas • Engagement • Risk Management “Leadership” • Tells the story behind the numbers • Asks the right questions • Asks the right questions • Is business-oriented • Is strategic advice–oriented • Understandsthe big picture • Is an agent of change • Is client-focused • Understandsrisk tolerance and takes into consideration risk appetite • Is trustworthy • Is flexible

18. The Ideal Strategic Business Advisor Behaviours Functional Competencies • Planning and Resource Management • Accounting and Reporting • Planning and Resource Management, Financial Policy and Financial Systems • Balances strategic advice • Monitors projects • Alignment of roles • Ensures policies are respected • Supports and facilitates decision making • Delivers • Implements

19. Barriers Perceptions of finance function: • Seen as: • focused on itself • rule-bound • the centre for control • process-oriented vs. results-oriented • adding cost to running programs (i.e., overhead)

20. Part II:Investing in your Career • Learning and development tools to support you in managing your career • Talent management for the FM community

21. Take Charge of Your Career Familiarize yourself with the FI competencies and the tools and resources in the Employee’s Guide Look at competencies at FI-02, FI-03 and FI-04 levels to determine where you need to grow Assess your skills and experience using the “FI to CFO Career Path” Develop an action plan

22. Learning and Development Tools • FI to CFO Career Path • Welcome to Pages • Learning Maps • FI Core Curriculum • Manager’s Guide to Financial Officer Competency-Based Management • Self-Assessment in Talent Management for the Finance Community – Employee Guide to Competency-Based Management Available at: www.gcpedia.gc.ca/wiki/Financial_management_community

23. FI to CFO Career Path

24. FI to CFO Career Path (cont.)

25. FI to CFO Career Path (cont.)

26. Welcome to Pages

27. Welcome to Pages • Available for each FI level in the career path • Provides guidance to FIs on how to best position themselves to meet the requirements of their position and for growth within the FM community • Competencies to develop and master by level • Recommended learning opportunities by level • Development and learning required to reach the next level

28. Learning Maps • Learning map for each FI level • Linked to core curriculum • Five segments: • Required training • Learning activities needed to do the job • Learning activities to prepare for a future position • Learning activities to develop leadership skills • Other suggested training • Provides learning to further develop competencies and aid in career progression

29. FI Core Curriculum Developed by the OCG in collaboration with the CSPS. The curriculum has four streams: • Basic stream: foundational level courses (F-111, F-112, F-113) • Functional stream: core knowledge at the operational and analytical level – the “how to” of the curriculum • Strategic stream: designed to develop participants critical thinking skills, includes strategic series • Development stream: complementary training recommended for all FIs

31. Learning Pyramid

32. Finding opportunities Volunteer your time and learn new skills: • FMI • Regional councils • Committees • Universities • Non-profit organizations • Boards of directors

33. Talent Management for the FM Community

34. Current Initiatives in Talent Management • Rejuvenated FORD Program • FM Community: Learning and Professional Development Needs • CFO Talent Management • Institute on Governance • Next Generation • On-line pilot with academia

35. Rejuvenated FORD Program

36. FORD CampaignsPast, Present and Future

37. FORD Hybrid CampaignFall 2013 • Major changes from previous campaigns: • 24 months and 2 rotations (vs. one year) • OCG to provide 3 to 4 one-day training sessions • MOU to reflect 24 months • Anticipated opening of inventory in Spring 2014: • Many bilingual candidates • Inventory numbers based on expected departmental requirements • Focus on candidates who pursued a specialization in accounting

38. FM Community: Learning and Professional Development Needs Based on responses to 2012 FM community fact-based questionnaire, the following are the learning and professional development needs identified: • Oral and Written Communications • Engagement • Strategic Thinking – Analysis and Ideas • Management Excellence – People

39. CFO Talent Management Objectives: • Ensure an adequate future supply of qualified individuals in the community who can fulfill the requirements of the CFO position • Develop a robust system of succession planning for critical positions within the community • Identify competency gaps within the CFO community and its feeder groups and ensure plans are in place to address them

40. CFO Talent ManagementDevelopmental Initiatives In collaboration with the FM community, the OCG developed the following training products: • On-line Public Sector Financial Management Leadership Development Program, September 2013 • Comptrollership Leadership Bootcamp – Director (EX-01) level, September 2013 • Next Gen CFO Course – aimed at future ADM level CFOs - EX-03 level participants, November 2013

41. CFO Talent Management: Next Steps • All pilots successfully completed • Results of recent on-line program to develop leadership and managerial competencies showed that FI-03, FI-04, and EX-01 have different learning needs • Currently considering a tiered approach to leadership and management development for transitional groups at FI-03, FI-04, and EX-01 levels

42. Other Resources www.myschool-monecole.gc.ca Financial Management Institute of Canada (FMI) (www.fmi.ca) CICA (www.cica.ca) CPA (www.cpacanada.ca) CMA (www.cma-canada.org) CGA (www.cga-canada.org) http://www.gcpedia.gc.ca/wiki/Financial_management_community

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