FI to CFO Career Path Presentation to FMI Manitoba Chapter February 12, 2007

1. FI to CFO Career Path Presentation to FMI Manitoba Chapter February 12, 2007

2. 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

3. 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

4. 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

5. 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

6. 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

7. 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 Presentation by Emer Mullan to FMI Manitoba Chapter

8. 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

9. Detailed Description of the FI to CFO Career Path FI to CFO Career Path has 8 attributes: • Years in Level • Education * • Professional Accreditation • Bilingual Capacity • Experience – functional * • Experience – breadth * • Management Skills * • Competencies * * Denotes attributes with sub-components Presentation by Emer Mullan to FMI Manitoba Chapter

10. 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

11. Detailed Description of the FI to CFO Career Path • 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

12. Detailed Description of the FI to CFO Career Path • 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

13. 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

14. Detailed Description of the FI to CFO Career Path • 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

15. Detailed Description of the FI to CFO Career Path • 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

16. Detailed Description of the FI to CFO Career Path • 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

17. Detailed Description of the FI to CFO Career Path Experience – Breadth (continued) • 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

18. Detailed Description of the FI to CFO Career Path Experience – Breadth (continued) • 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

19. Detailed Description of the FI to CFO Career Path Experience – Breadth (continued) • 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

20. Detailed Description of the FI to CFO Career Path Experience – Breadth (continued) • 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

21. Detailed Description of the FI to CFO Career Path Experience – Breadth (continued) • 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

22. Detailed Description of the FI to CFO Career Path Experience – Breadth (continued) • 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

23. Detailed Description of the FI to CFO Career Path • Skills (a) Oral and written communications (b) Risk Management (c) Negotiation skills/integration function Presentation by Emer Mullan to FMI Manitoba Chapter

24. Detailed Description of the FI to CFO Career Path • Skills (continued) • 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

25. Detailed Description of the FI to CFO Career Path • 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

26. Detailed Description of the FI to CFO Career Path • 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

27. Detailed Description of the FI to CFO Career Path • Competencies Seven 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

28. FI Community recruitment and development • FI Population Statistics • Financial Officer Recruitment and Development Program (FORD/IARD) • FI-03 FI-04 Development Pilot Project • FI-03 FI-04 External competition • AEXDP • EX-03 Recruitment • CMA/CIPFA Designation • CSPS – 20 courses in financial management and comptrollership Presentation by Emer Mullan to FMI Manitoba Chapter