#CPACONGRESS E5: The changing face of the public sector CFO: From provider to strategist Paul Wood, Chief Finance Officer, Department of Foreign Affairs

#CPACONGRESS

E5: The changing face of the public sector CFO: From provider to strategist

Paul Wood, Chief Finance Officer, Department of Foreign Affairs

Amanda McIntyre, Chief Financial Officer, Department of the Prime Minister and Cabinet

Scott Hartley, (Facilitator) National Managing Partner, Operational Advisory and National Head of Public Sector Industry, Grant Thornton (Melbourne)

Friday 21 November 2014

2:15PM - 3:05PM

Transforming the Public Sector: The role of the CFO in driving changeScott Hartley, Partner & National Head of Public Sector

© 2014 Grant Thornton Australia Ltd. All rights reserved.

Agenda• Introduction• The changing face of the Public Sector CFO

– Survey context– Results overview

• Executive Representation• Capability and Capacity

– Meeting Current and Future Challenges – Key findings

• Workforce Capability• Re-engineering

– Recommendations for the CFO• Panel discussion• Q&A ?


Survey respondents

22%

42%

33%

2%Federal

State

Local

Other (please specify)

Agency type


Representation on the Executive

58% of CFO's are

on the Executive

team

82% of CFO's are

on the Finance Committee

58% of CFOs are voting members of the Finance Committee


Capability and capacity - shift

Other includes:AdministrationAsset & Fleet ManagementHuman ResourcesProject ManagementProperty facilities

Functional areas that sit under the CFO in addition to finance

49%

27%

14%

53%


Survey question: What percentage of your time would apportion against each role

Innovator Strategic Business Partner

Custodian Provider Other

11%

35%

21%

28%

5%

Key CFO focus areas


Finance team: professional designation

4%2%

6%

45%

43%

1. Very Unimportant

2. Somewhat Unimportant

3. Neither Important nor Unimportant

4. Somewhat Important

5. Very Important

Survey question: How important do you believe it will be for your finance staff to have a professional designation over the next 3 to 5 years?


Meeting challenges: "Re-engineering"

Shared

servic

es

Re-eng

ineeri

ng of

busin

ess pr

ocesse

s

Organis

ationa

l restr

ucture

Invest

ment in

techn

ology

Reduct

ion in

Full Time E

quiva

lent (F

TE)

Alterna

te work

force

models

Other (p

lease

specify

)0%

5%

10%

15%

20%

25%

30%

35%

40%

45%

50%

2%

45%

16% 16%

12%

6%4%

12%

45%

10%

24%

2% 2%

6%

Current Year Next 3 -5 years


CFO EFFECTIVENESS CHECKLIST

• Does the CFO provide input into key strategic and operational decisions? Is there sufficient opportunity for them to do so?

• Does the CFO demonstrate the capability to provide strategic advice?

• Does the CFO have the capacity to provide strategic advice and analysis?

• Do the functional areas under their responsibility of the CFO align with their skill set?

• How well does the CFO understand and engage with the operational areas of the agency?

Recommendations for the Agency Heads1. Assess the effectiveness of the CFO

2. Transform from the top; support the reengineering of business process through demonstrated acceptance of change

3. Adopt a client or citizen perspective when designing services to foster greater collaboration across agencies.


CPA Australia – Grant Thornton Report

TRANSFORMING THE PUBLIC SECTOR

The role of the CFO in driving changeOCTOBER 2014


Contact Details

Grant Thornton

Scott HartleyPartner & National Head of Public SectorE [email protected] T +61 3 8663 6143

Documents

#CPACONGRESS E5: The changing face of the public sector CFO: From provider to strategist Paul Wood, Chief Finance Officer, Department of Foreign Affairs