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Roles and Opportunities as an FI in the Financial Management Advisor

Roles and Opportunities as an FI in the Financial Management Advisor Presentation to the FMI Professional Development Session By: Lionel Lobo, CGA. February 27 th , 2014. Purpose / Key Considerations. Overview of my Roles Financial responsibilities Stakeholders involved

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Roles and Opportunities as an FI in the Financial Management Advisor

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  1. Roles and Opportunities as an FI in the Financial Management Advisor Presentation to the FMI Professional Development Session By: Lionel Lobo, CGA February 27th, 2014

  2. Purpose / Key Considerations • Overview of my Roles • Financial responsibilities • Stakeholders involved • Communication Skills • People Skills • Challenges • Opportunities • Questions

  3. Overview of my Roles • Financial Advisor to the Information Science and Technology Branch (ISTB) at the CBSA. • ISTB has a budget of over $350M, many projects, and 1,400 FTEs • Support three out of eight directorates • Manage FIs • Analyze the financial status of the directorates on a monthly basis • Lead on the Financial Status Report for the Vice President • Review Dashboards on projects / initiatives • Report to Corporate Finance

  4. Financial Responsibilities • Analyze budgets, forecasts, and plans • Use various financial systems, i.e. SAP • Provide financial input into the Memoranda to Cabinet, Treasury Board Submissions, and costing templates • Integrated Business Plans • Business cases, and pressure reports • ARLU, Capital Year Plans, etc…

  5. Stakeholders involved with a FMA • VP • Director Generals • Directors • Managers • Administrative Staff • Finance Colleagues • Other FMAs • Internal Reporting • TB Submissions • Financial Systems • Policies

  6. Communication Skills • Who is your audience? • Finance is a language • Listen carefully to your clients • Problems – followed by solutions, and recommendations • Speak confidently • Be careful of what you say and write • Get right to the important matters when dealing with the senior executives

  7. People Skills • Let the clients know that you are there to help them • Be approachable • Encourage staff to engage face to face with the clients • Give hands on training, and be patient • Build a trust in the relationship with the clients

  8. Challenges • Financial Management roles are expanding • Understand the clients business • Two bosses - clients and manager • Be accountable for your actions, and follow through on commitments • Short deadlines • Delegate work • Managing the staff and their work you are responsible for • Be a mentor to your employees, continuous learning i.e. CGA/CMA, language, etc… • Values and ethics – serving with integrity and respect

  9. Opportunities • Clients must be satisfied with the service they are provided by with a FMA • Build trust in your relationship with the clients • Engagement - opportunities to work on changes in the finance community, brainstorm with colleagues • Thinking things through - think outside the box, and share your ideas to make improvements • Excellence – delivering results through your own work, relationships, and responsibilities

  10. Questions?

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