Guide to the Financial Officer Competency Profile

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).

The following diagram outlines the individual competencies that are contained within each group of the Financial Officer Competency Profile

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:

**Ratings Categories**
Level	Demonstrated	level	Required
5	To a very great extent	4	Most of the time
4	To a great extent	3	Fairly often
3	To a considerable extent	2	At times
2	To some extend	1	Rarely
1	To a small extent	N/A	Not applicable
N/A	Not applicable

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

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.
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.
List all comments written by you and/or your coach/manager.
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.

the process

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:

Keep a running list of possible actions to take after you:
- talk to a manager, friend, mentor, or coach
- read articles, reports, books...
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
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.

Step 5:

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.

7.0 APPENDIX A: Financial Officer Competency Profile

Interpersonal Competencies
Communications	listens and questions effectively shares information willingly presents ideas clearly and persuasively responds constructively to diverse views writes clearly and concisely maintains timely communications communicates in a manner that generates enthusiasm and commitment listens to other points of view and strives to give a balanced picture	describes complex financial / technical issues clearly for both non-financial and financial audiences builds a consensus and successfully addresses diverse views outlines policy requirements and provides guidance within policy	explains sensitive business matters and highly complex issues clearly
Integrity / Ethics and Values	exercises integrity and ethics in all transactions acts in the public interest	avoids conflict of interest and maintains political neutrality challenges unethical behaviour in others	sets an example for others to follow
Negotiating / Persuading	presents own point of view and takes issues forward supports position with convincing information based on fact and the input of others	faces conflict but knows when compromise is appropriate assists in making effective trade-offs builds on points of agreement to achieve alternatives that optimize stakeholders' satisfaction	works toward a shared understanding and agreement on a common goal and result
Service Orientation	identifies and anticipates clients' needs for financial information, advice and other financial services takes personal responsibility for timely and quality service	seeks feedback on value of services implements immediate corrective action maintains organization's capacity to meet client needs ensures that staff understand their clients and their role in serving them	actively markets finance services and competencies and develops and communicates services builds positive and productive client relationships
Teamwork	participates as a team member, and adds value to discussions and deliberations respects ideas of all team members openly receives input from all team members	recognizes when team work is / is not an efficient approach energizes team members and builds their confidence in order to achieve goals identifies team members' strengths and weaknesses and adjusts their roles to maximize team output recruits capable team members with complementary skills	creates team strategies that are aligned with business needs and goals empowers team leaders and members to achieve results
Insight / Judgment	selects the right tasks or issues to work on knows when to share information and consult	displays diplomacy and discretion	exercises authority wisely selects options and takes action with due consideration of organizational culture and politics
Creative / Innovative Thinking	is open-minded, flexible, and receptive to alternative views that show promise	sees opportunity for improvement creates and promotes new ideas	fosters a climate that encourages innovation, creativity and risk taking asks fresh questions to trigger different thinking about issues and problems
Business Perspective Competencies
Strategic Thinking / Visioning	demonstrates knowledge of strategic business issues participates in the planning process	develops systems to monitor and measure the implementation of business and strategic plans participates actively in the development of performance indicators	assesses objectives and strategies to ensure consistency with the mission advocates strategic thinking and strategic planning promotes a vision of the Public Service participates actively in the development of strategic business plans
Organization and Public-Sector Knowledge	understands the relationship between departmental programs and functional areas understands and applies the Financial Administration Act and other relevant policies to ensure effective management understands and identifies core business line operations understands and explains the interrelationships among program activities	maintains extensive knowledge of core operational processes in the department, and appreciates their strengths and weaknesses recognizes external factors affecting operational success understands the policy-making function in government contributes to policy making and implementation understands and explains the basic machinery of government, the role of public interest, and governance	integrates financial and non-financial information with business strategies
Business Analysis / Cognitive Capacity	looks for trends / patterns, variances and management issues defines problems, their causes and effects applies analytical techniques	develops explanations for trends / patterns, variances and exceptional results in data compiles appropriate information and results expectations analyses and synthesizes relevant information to draw conclusions and to plan for the management of results and resources notes and responds to varying quality of data	able to make decisions in the absence of sufficient data integrates financial and non-financial performance information
Risk Management	balances the level of risks and controls in operations when adopting alternative approaches learns from experience, assesses risks, and makes recommendations for effective management and program delivery recognizes and advises the probability of alternative outcomes for options, and realizes that not all new ventures will succeed participates in discussions to mitigate risk	encourages, implements, monitors and revises risk-management strategies	communicates to senior management the assessment of risk and ways to reduce risks to acceptable levels
Functional Competencies
Strategic Resource Management	prepares reports, business plans, and forecasts analyzes operational performance and evaluates alternative outcomes of business strategies liaises with managers to understand and develop explanations	develops specialized reports explains program variances and implications links financial and non-financial performance measurements analyses current trends and determines the financial implications of likely outcomes builds and presents new analytical approaches analyses financial implications of policy, program and project proposals and alternative strategies researches and prepares the groundwork for partnering agreements	assesses budgets to check alignment with the department's goals plays a challenge role in assessing the financial implications of program and project proposals and the quality of related financial information participates in the development of partnering arrangements takes responsibility for overall resource strategy including sources and mechanisms
Expenditure and Cost Accounting	identifies and applies relevant cost accounting techniques (e.g., activity-based costing)	develops cost-accounting techniques to specifically address departmental / organizational needs	participates with senior management in strategic decision-making as a result of cost-accounting information accounts for expenditures (e.g., line objects, standard objects for sound expenditure management) provides information and advice in the development of expenditure reports (within department, Parliament and Public Accounts)
Revenue Management	interprets and applies fee-setting policy carries out credit checks, billing and collection	provides advice on revenue-generating opportunities advises on pricing strategies and fee setting	establishes revenue management policies works with TB / Central Agencies in identifying sources of funds / elimination of barriers / irritants provides advice on how to balance revenue-generation activities and the mandate of the organization has adequate understanding of the users, concerns and the related impacts on the sector participates in consultation with the users during the fee-setting exercise
Systems, Processes and Technology	identifies and explains the basic business functions, financial processes and administrative procedures of the organization recognizes the flow of transactions through the department maintains computer literacy on systems / applications critical to finance develops reports to respond to management information needs recognizes the interrelated links between systems, processes, and technologies trains others to use systems between applications (e.g., HR — Finance)	designs and maintains accounting systems and key financial business processes integrates new applications / software into work activities to improve processes identifies user requirements and related options to results in the organization and / or programs	aligns the structure of accounting processes to fit the overall organizational structure integrates information technology as a strategic resource communicates with internal and external stakeholders partners in developing the corporate technology strategy addresses the links between applications and ensures integration is able to re-engineer processes
Internal Control	applies appropriateness, adequacy, accuracy and reliability of internal control to protect assets (e.g., financial reporting and privacy of information) and identifies deficiencies	develops and implements appropriate internal control systems while providing flexibility so that managers may achieve results implements corrective action to address control deficiencies	designs delegation framework and authorities to allow for management flexibility while ensuring accountability advises on, and implements, government-wide standards for control to promote a sound management framework
Financial and Statutory Reporting and Accounting Principles	demonstrates basic knowledge of professional standards and practices that are relevant to the public sector applies generally accepted accounting principles, including accrual accounting and the Financial Information Strategy	demonstrates thorough knowledge of professional standards and practices that are relevant to the public sector presents and discusses applicability of, and arguments for and against, alternative accounting principles	demonstrates expert ability in the creation of new accounting principles anticipates the effect of new accounting principles on the organization and assists in the transition represents the department to the Auditor General, Public Accounts, Treasury Board, etc.
Leadership / Management Competencies
Effectiveness / Stamina / Stress Resistance	invests extra effort when required while balancing family and health pursues goals with determination and perseverance learns continuously	sets ambitious but attainable goals for self and the unit allows staff to balance workload and personal life	deals with conflictual, complex and / or stressful situations with composure and professionalism creates a performance-oriented environment has a high tolerance for ambiguity and stress creates a learning environment for others
Self-Confidence	retains composure and professionalism takes ownership and responsibility for decisions that may not be popular and / or may carry a risk of failure	promotes ideas or positions, even those that are unpopular deals with ambiguity and stays on track behaves in a consistent, predictable manner	makes decisions and has confidence to take on new challenges seeks opportunities to build his or her confidence
Developing People / Coaching	accepts, and acts on, constructive feedback helps staff develop their career plans	establishes and communicates performance expectations provides specific, constructive and positive feedback on performance	provides relevant information / coaching to improve performance and define career development needs (e.g., training, mobility, succession planning) encourages risk taking and makes allowances for mistakes
Change Management	responds positively to new ideas and the prospect of changing his or her perceptions	applies the principles of change management understands the extent of change possible given the current culture in the organization gains support and buy-in for non-traditional or innovative activities / decisions	has an implementation plan that allows staff and clients to make transitions deals practically with changes to processes and systems, and with the technology that enables the change
Project Management / Action Management	manages time effectively (e.g., schedules work, tracks time, handles more than one task at a time, provides status reports) highlights developing problems to colleagues and supervisors	balances time, resources and quality for optimal outcomes contributes to the development of a comprehensive project plan (e.g., goals, activities, tasks, time, responsibility, measurement) delegates work deals with problems and maintains control	identifies and sets scope and needs anticipates and manages external factors that are beyond control develops appropriate contingency plans to resolve problems allocates and reallocates resources across multiple projects to meet changing circumstances monitors performance and evaluates results
Problem Solving / Decision Making	knows when to seek help involves the right people in the decision-making process	defines the problem, weighs the options, and decisively selects a course of action	assesses risks and other environmental factors with political, bureaucratic and organizational consequences improves the performance of employees, and the organization as a whole, in the delivery of services considers the long-term implications of decisions develops proactive strategies to prevent or solve problems

Date modified:: 2008-07-10

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Guide to the Financial Officer Competency Profile

Table of Contents

Table of Contents

1.0 Introduction

2.0 Career Planning: A Self-Directed Process

3.0 Importance of Developing a Competency Profile

4.0 Structure of the Financial Officer Competency Profile

5.0 Using the Assessment Tool

6.0 Instructions for Using the Computer Program

7.0 APPENDIX A: Financial Officer Competency Profile

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Guide to the Financial Officer Competency Profile

Table of Contents

Table of Contents

1.0 Introduction

2.0 Career Planning: A Self-Directed Process

3.0 Importance of Developing a Competency Profile

4.0 Structure of the Financial Officer Competency Profile

5.0 Using the Assessment Tool

6.0 Instructions for Using the Computer Program

7.0 APPENDIX A: Financial Officer Competency Profile