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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?
Presentation by Emer Mullan to FMI Manitoba Chapter
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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
Presentation by Emer Mullan to FMI Manitoba Chapter
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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
Presentation by Emer Mullan to FMI Manitoba Chapter
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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
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
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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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
Presentation by Emer Mullan to FMI Manitoba Chapter
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Detailed Description of the FI to CFO Career Path
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
Presentation by Emer Mullan to FMI Manitoba Chapter
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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. 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. 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
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. 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. 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. 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: 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
Presentation by Emer Mullan to FMI Manitoba Chapter
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Detailed Description of the FI to CFO Career Path
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
Presentation by Emer Mullan to FMI Manitoba Chapter
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Detailed Description of the FI to CFO Career Path
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
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 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
Presentation by Emer Mullan to FMI Manitoba Chapter
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Detailed Description of the FI to CFO Career Path
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
Essential for promotion to FI-04 level
Presentation by Emer Mullan to FMI Manitoba Chapter
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Detailed Description of the FI to CFO Career Path
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
Essential for promotion to FI-03 level
Presentation by Emer Mullan to FMI Manitoba Chapter
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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
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Detailed Description of the FI to CFO Career Path
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
Presentation by Emer Mullan to FMI Manitoba Chapter
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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
Presentation by Emer Mullan to FMI Manitoba Chapter
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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
Presentation by Emer Mullan to FMI Manitoba Chapter
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Detailed Description of the FI to CFO Career Path
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
Presentation by Emer Mullan to FMI Manitoba Chapter
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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
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