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The Future of Defense Financial Management and You. Presented to the ASMC Yankee Chapter By Alvin Tucker, CDFM-A August 16, 2012. Professional Overview. Your profession is Defense Financial Management Specific Body of Knowledge Ethical Standards Public Trust Legal Liability.

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The future of defense financial management and you

The Future of Defense Financial Management and You

Presented to the ASMC Yankee Chapter

By Alvin Tucker, CDFM-A

August 16, 2012


Professional overview
Professional Overview

  • Your profession is Defense Financial Management

    • Specific Body of Knowledge

    • Ethical Standards

    • Public Trust

    • Legal Liability


Core competencies for dod financial management
Core Competencies for DoD Financial Management

  • Government Resource Management Environment

  • Manpower Management

  • Personnel Management

  • Management’s Responsibility for and Internal Controls

  • Defense Budget Process

  • Cost and Economic Analysis

  • Business Management Process Improvement

  • Fiscal Law

  • Finance

  • Accounting

  • Auditing


Asmc is your professional society
ASMC is your Professional Society

  • Non-profit association founded in 1948

  • Serves financial managers in:

    • Five military services and defense agencies

  • Today has about 20,000 members

    • 150 chapters, 78 corporate members

  • Major offerings

    • National PDI and regional PDIs

    • Chapter training programs

    • Certification program (CDFM)

    • Professional journal

    • Selected training courses


What s happening now
What’s Happening Now?

  • OMB policy on “Conferences”

  • DoD course-based certification

  • Virtual PDI

  • Sequestration

  • Audit Readiness


Gsa scandal
GSA Scandal

  • 300 Feds go to Las Vegas in October 2010

  • Spent $822K: Planning $136K, Conference $686K

  • Failed to follow contracting regulations

  • Incurred excessive and impermissible costs for food

  • Incurred impermissible and questionable miscellaneous expenses

  • Planning goal: make it “over the top”


Fall out
Fall Out

  • President’s Executive Order, Nov 9, 2011

    • 20 % reduction in travel in FY 2012 vs. FY 2010

  • IG Report on GSA Conference, April 2, 2012

  • Sen. Coburn (R-OK) amendment to Postal Reform

  • OMB memo, May 11, 2012

    • Reduce FY 2013 travel by 30% vs. FY 2010

    • Over $100K needs higher level approval

    • $500K prohibition, but it can be waived


Impact on asmc
Impact on ASMC

  • PDI and Mini-PDI’s qualify as “conferences”, especially if held in commercial facilities

  • Costs for approval parameters include: fees, food, lodging, transportation paid by Government

  • Presently, approval levels at DCMO and DepSecDef

  • Approval levels may change after the 1st round

  • Greater reliance on Virtual PDI


Virtual pdi
Virtual pdi

  • Began with PDI 2012

  • Presently 1,184 paid participants

  • 73 workshops and interviews on line

  • CPE available

  • CPE management tool


Course based certification
COURSE-BASED CERTIFICATION

  • Approved in FY 2012 NDAA

    • Pilot begins October 1, 2012 (FY 2013)

    • Three skill levels:

      • Basic, Intermediate and Advanced

    • Specific course requirements

    • Continuing Professional Education (CPE)

    • Certification encouraged

    • Bachelor and advanced degrees encouraged


Sequestration
Sequestration

  • $1.2 Trillion over ten years

    • 50% to National Security, or $600 B

    • For DoD, about $50 Billion a year

    • Percentage reductions by appropriation title

    • President can exempt Military Pay

    • No programmatic discretion

    • Happens January 2, 2013


Sequestration cont d
Sequestration (cont’d)

  • Good News:

    • “It can’t be allowed to happen” - DoD leaders

    • “It won’t happen” – Congressional leaders

  • Bad News:

    • Decision deferred until after the election


Issues for a lame duck congress
Issues for a Lame Duck Congress

  • Debt limit increase

  • Extension of Bush tax cuts

  • Continuing resolution

  • AMT fix

  • Doc fix

  • Sequestration

  • Extension of payroll tax reduction


Audit readiness
Audit Readiness

  • Assert audit readiness for Statement of Budgetary Resources (SBR) by end CY 2014

  • Begin audit of SBR in FY 2015

  • Achieve clean audit opinions on all DoD FY 2017 financial statements


Audit readiness cont d
Audit Readiness (cont’d)

  • Provide more audit readiness training in the EDFM course

  • Develop an audit readiness training package for alternative delivery methods


What s happening with you
What’s happening with you?

  • Sharpen skills

  • Stay flexible

  • Be mobile

  • Get more training

  • Diversify

  • Certification


Help you stand out
Help You Stand Out

  • Test-based Certification

    • Certified Defense Financial Manager

  • Enhanced Defense Financial Management Training Course

    • 3 College Credits

      (undergraduate or Graduate with research paper)

  • ASMC awards


Help you be a leader
Help You Be a Leader

  • Leadership opportunities

    • In your ASMC chapter

    • In community service


Cdfm requirements
CDFM Requirements

  • Complete four years of federal government related financial management experience with an Associate degree or higher), or

  • Complete three years of Defense related financial management experience (without degree), or

  • Complete two years of Defense related financial management experience an Associate degree, or higher.


Other training in fy 2013
Other Training in FY 2013

  • Enhanced Defense Financial Management (EDFM) – 5-day training course

  • Acquisition module – 2-day course

  • Audio Conferences

    • Refresher courses for CDFM modules

    • Six other offerings during the year

  • Fiscal Law

    • 1-,2-,3-day courses on-site


Pdi 2013 denver convention center
PDI 2013Denver Convention Center

Monday, May 27 – CDFM Review Courses, Module 4 Acquisition (2day)

Tuesday, May 28 – CDFM Review, Testing, MicroSoft Training

Wednesday, May 29– Official Opening, Service Day, General Session

Thursday-Friday, May 30 – May 31Over 100 Workshops, 7 Mini-Courses, General Sessions


Assessment results
Assessment Results

  • Members value ASMC – 65% rated high, 6% low

  • ASMC professional development – 87% hi, 2.5% low

  • Member loyalty – 83% likely to renew, 5% not

  • Recommend to colleagues – 78% likely, 5% not

  • PDI – 74% highly satisfied


What our members want
what our members want

  • Attract new and younger members

  • Focused education or certification – contracting and audit

  • Virtual PDI capability

  • More support for chapters:

    • National instructors for chapter meetings

    • Speaker identification


Asmc five year plan
ASMC Five-Year Plan

  • NEC approved in June 2011

    • Improve communications

    • Develop a virtual PDI

    • Better Chapter outreach

    • Provide more educational offerings


Five year plan goals
Five-Year Plan Goals

  • Increase membership to 50% of FM workforce

  • Increase active CDFM’s to 15% of FM workforce

  • Achieve 75 Five-Star Chapters

  • Attain 2,000 participants in virtual PDI

  • Develop a stronger image outside the FM community



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