Guide to the Financial Officer Competency Profile

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1.0 Introduction

The purpose of this guide is to provide you with a Financial Officer profile, to introduce you to the computerized Assessment Tool, and to suggest an approach to using them in career planning.

The Financial Officer Competency Profile (Appendix A) was designed to define the competencies required for Financial Officers to deliver current and future financial services in the federal government. The Profile contains four groups of competencies: Interpersonal, Business Perspective, Functional, and Leadership/Management. "Competencies" refer to the skills, knowledge and attitudes that a person brings to a particular job. A clear articulation of competencies provides a basis for assessing one's development needs and establishing assignment and training strategies within a career plan. Competencies are not static. They evolve as organizations and the management culture change and new directions emerge that require different skills and knowledge.

The computerized Assessment Tool will assist you in assessing your competencies in your current position and for future career planning and development. The option is available that your manager/coach may assess you as well.

The creation of the Financial Officer Competency Profile involved:

• the collection and analysis of data through a literature and database review, as well as interviews with financial leaders in both government and the private sector;
• integration of the competency profile for middle managers, developed under the leadership of the Public Service Commission; and
• the validation of the competency profile through a focus group with 15 Financial Officers from nine departments and a workshop with Senior Full-Time Financial Officers from across the federal government.

2.0 Career Planning: A Self-Directed Process

You have primary responsibility for your career. Career planning is a self-directed process that enables you to establish goals in line with your interests, strengths and values. When you plan your career you take control of your own development instead of letting your path be shaped by accident, fate or other people's decisions. Effective career planning can bring you increased work satisfaction and success by linking your interests, skills and values to your work assignments. You can use the Assessment Tool to kick-start this process.

As you take a more active role in your career planning, you will uncover a variety of opportunities that will allow you to develop your skills and knowledge.

Career planning will enable you to:

• understand what you do best and what you want to do;
• express what has personal meaning and value for you in your career;
• master the anxieties and challenges that come with change and the making of choice and;
• increase your job satisfaction and sense of self-worth through opportunities that will enable you to make the contribution you want to make.

3.0 Importance of Developing a Competency Profile

The Financial Officer Competency Profile will benefit the community of Financial Officers as it:

• provides the background information that Financial Officers need to complete a self-assessment that will point out to them competencies that they might want to develop further;
• guides training and development and identifies areas of increasing need within the Financial Officer community; and
• increases organizational awareness and stimulates mentoring through counselling sessions. Once Financial Officers have completed their self-assessment using the Competency Profile, they can meet with their manager/coach to discuss competency development needs and goals. Financial Officers also have the option of having their competencies assessed by their manager.

4.0 Structure of the Financial Officer Competency Profile

The following diagram outlines the individual competencies that are contained within each group of the Financial Officer Competency Profile (Appendix A).

No one is expected to possess all of these competencies. In fact, some specialists will identify that their competencies lie primarily in one category; legitimately so because they have focused on developing exceptional skills in that particular area. Each Financial Officer's profile will be unique and will change over time as he or she learns and demonstrates new capabilities. Profiles will also differ depending on factors such as: whether you work in the National Capital Region or in another of the regions, if you are in a large rather than a small department, or if you work in a department rather than an agency. Accordingly, a profile is only a guide to planning your career. Also, please note that this version of the Assessment Tool is a pilot project and will be adjusted as our clients send us feedback.

5.0 Using the Assessment Tool

The Assessment Tool contains questions related to the skills, knowledge, and attributes that make up each competency.

Ratings are made in two categories, based on the following scales:

Once you have answered the questions, the software will generate a report that will:

1. Summarize your demonstrated competencies as assessed by you and/or your coach/manager. This report tells you your average ratings for each competency within the four groupings (Interpersonal, Business Perspective, Functional, and Leadership/Management). This will help determine whether you have sufficiently demonstrated the competencies required for success in your current job.
2. Identify areas for improvement, and specify skills, knowledge and attributes that:
   • you have not demonstrated adequately in your current position (a rating of 1 or 2), and
   • are considered to be required for your current position (a rating of 3 or 4)

   This will allow you to discuss any variation between your assessment and that of your coach/manager, and to address the skills, knowledge and attributes that deserve consideration.

3. List all comments written by you and/or your coach/manager.
4. Provide you with a framework for further development of your career plan.

   Remember that the ratings reflect your perceptions of your competencies, as well as the perceptions of your coach/manager if you requested them to rate your performance. Perceptions are subjective; therefore, ratings are not objective fact. This exercise gives you a chance to think about your goals, career objectives and development needs, and to prepare for your discussion with your coach/manager.

Step 1:

Answer Questions Using the Assessment Tool

Answer the questions provided on the Assessment Tool. The program will provide you with a report on your Financial Officer Competency Profile.

Step 1A:

You may want to consider having your manager/coach also use the tool to assess your competencies. Comparing the two assessments may give you a more comprehensive picture of your competency status and development needs. This is not mandatory; it is up to you.

Step 2:

Identify Next Steps

Based on your answers, the report will help you formulate a detailed plan of action and help you organize your thoughts prior to meeting your manager/coach. You may want to ask yourself some of the following questions.

Where do I want to go?

Identify career objectives and consider:

• the type of work
• the position level
• the type of position (indeterminate, term, secondment, etc.)
• the amount of travel
• the salary range
• the intensity of the job (e.g., identify peak periods)
• the hours of work
• the type of organization (e.g., department, central agency)
• the physical location

What are my strengths?

Describe yourself to show what you have to offer.

List your job experiences:

• positions you have held
• major projects in which you have been involved

Identify your training and education:

• university degrees
• college diplomas
• training/development

Note other relevant experience:

• where else you have developed or demonstrated your abilities
  (e.g., positions with associations and volunteer work)

Determine your learning style:

• list the types of environments in which you have learned best, and the learning processes you have enjoyed.

How can you reach your destination?

Which of the following will help you attain your objectives?

Mentor/Coach:

Are there individuals who can help you in your quest? How? If not, what type of assistance would you like to have?

Training:

What courses would advance your skill levels?

Education:

Is there a program (medium to long-term) from which you could benefit (e.g., the Management Trainee Program, the Career Assignment Program, the Financial Officer Recruitment and Development Program / Internal Audit Recruitment and Development Program)?

Other:

Can you think of any work assignments or other experiences, such as volunteer work or membership in associations, that could accelerate your development?

Step 3:

Discuss Your Profile With Your Manager

Contact your manager/coach to set up a counselling session, and send him or her a copy of your assessment results. If your manager has also done an assessment of your competencies, read that report before your meeting. To take full advantage of your counselling session, be prepared to play an active role in the discussion. (Remember, your manager, coach, mentor, or human resources specialist or anyone else may be able to give you good career advice. It is up to you to decide who can best provide you with guidance about your career.)

During the meeting with your manager, review the factors identified on your assessment printout. Ask questions to make sure you understand the rationale behind your manager's interpretation of your assessment results. If your self-assessment led you to a conclusion significantly different from that of your manager, try to find out why your opinions diverge.

Use the discussion as a brainstorming opportunity to think further about your opportunities to develop your competencies. What new skills or knowledge should you acquire or develop? What sort of job would you like to be in? What kinds of assignments should you be seeking? You answered these questions, and more, in Step 2. Take them into consideration before and during your counselling session.

You and your manager should set progress milestones for you and discuss your competency development opportunities. This can be the basis for your plans and achievements during the coming year. You may want to develop an implementation plan that includes the following actions:

1. Keep a running list of possible actions to take after you:
   
   
   • talk to a manager, friend, mentor, or coach
   • read articles, reports, books...
     
     
2. Identify on your list of possible actions:
   
   
   • people to meet
   • associations to join
   • meetings to attend
   • applications to fill out
   • material to read
   • plans to prepare
   • to do' lists to start and follow
     
     
3. Based on your assessment results:
   
   
   • identify specific competency development actions that you can plan for your career development
   • note areas where you have not had sufficient experience
   • identify the top three priority areas for development over the next year along with their costs and other relevant details

Step 4:

Pursue Goals

After your counselling session, and after you have accurately assessed your current skills and knowledge, begin to actively pursue your competency development goals.

Annual Review

Do an annual review of your competencies and career plan to see if you have achieved your goals and to identify further developmental requirements for the coming year.

6.0 Instructions for Using the Computer Program

Installing the Assessment Tool

Insert the Assessment Tool CD ROM into your CD ROM disk drive. The program will automatically start to run, providing the Install screen. Follow the prompts given for installation.

You can install the application and the data to a shared drive by just changing the default drive (and directory) in the installation program. The icon for the program will appear on your desktop.

You can also run the application from the shared directory by installing to the shared drive, and then creating shortcuts to your desktop (by selecting the icon in Windows Explorer, then dragging it to your desktop with the right mouse button. When you release the button, choose Create Shortcut from the popup menu).

The system was designed to be installed on individual machines (and not to a shared drive), to enhance the user's privacy. The shared drive is normally used for the transfer files only, created by exporting an assessment (sending assessments between you and your supervisor). It is not really necessary for everyone to access the same data (so a shared drive would only be necessary if someone did not have their own computer).

For more information, call: (613) 952-3337.

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