Prepared by: Office of the Comptroller General Treasury Board of Canada Secretariat

Presented by: Sylvie Séguin, CGA

Acting Senior Director Financial Management Community

Development Office of the Comptroller General

Key Competencies for the Strategic Business Advisor

FMI Vancouver ChapterMay 6, 2014

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Presentation OverviewPart I: Knowing the Expectations• Competencies• The ideal strategic business advisor

Part II: Investing in your Career • Learning and development tools to

support you in managing your career• Talent management for the FM community

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What Are “Competencies”? Defined as…

The characteristics of an individual that underlie performance or behaviour at work.*

They are:Measurable Observable

“Can do” + “Will do” = Competencies(Skills, knowledge) (Behaviour)

*Source: Public Service Commission of Canada

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Competency Overview• The Competency Iceberg

Performance Management — 16 All rights reserved © 2002, Alcatel

What are Competencies?

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Who uses competencies?

Competencies are used by:

• Professional accounting bodies (CA, CGA, CMA, CPA)

• Office of the Chief Human Resources Officer(Key Leadership Competencies)

• Educational institutions

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Competencies are used as part of sound Human Resources practices

Job Competency Profiles

Statements of Merit

Candidate Assessment Tools

Professional Dev Program Performance

ObjectivesPerformance Assessment

Learning CurriculumLearning Plans

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Financial Officer Competency Dictionary

• The key competencies (behavioral and technical) to successfully fulfill requirements of a job/profession

• There is a progression in proficiency (logical and cumulative)

• Indicators describe behaviors that an employee demonstrates at that proficiency level List includes key behaviors for each competency, it is not

exhaustive List has to be manageable and accessible Each indicator is measurable and uses action verbs Vocabulary must be relevant to users but also be in plain

language

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Key aspects of each competencyCompetency title and short definitionKey indicators associated with each proficiency level

Level 1Underlying Notion

Level 2 Underlying Notion

Level 3 Underlying Notion

Level 4 Underlying Notion

Indicators

Relate to basic behaviours

Indicators

Active behaviours reflecting an action, a concern or an attitude

Indicators

Proactive behaviours that are often initiated based on knowledge or past experience

Indicators

Comprehensive behaviours that relate to actions that have an impact beyond one’s immediate team and more on the larger organizationProficiency levels equate to corresponding FI level

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FI Competency DictionaryOral and Written Communications: Listening to others and communicating articulately through

speech or in writing FI-01 FI-02 FI-03 FI-04

Listens and questions effectively Shares information willingly Responds constructively to diverse viewsWrites clearly and concisely, using appropriate vocabulary and grammar and message is easily understood Maintains timely communications honestly and respectfullyCommunication flow is logical and presents a reasonable sequence of thoughts

Presents ideas clearly and persuasivelyCommunicates in a manner that generates enthusiasm and commitment Listens to other points of view and strives to give a balanced pictureMaintains open and continuous communication with others

Describes complex financial/technical issues clearly for both non-financial and financial audiencesBuilds a consensus and successfully addresses diverse viewsOutlines policy requirements and provides guidance within policy Defends and/or secures support for ideas or initiatives through such methods as briefing notes, position papers, and recommendations to senior management Delivers confident, consistent, and coherent messages in presentation

Is sensitive to the timing of communication relative to other factors in the environmentUses varied communication systems, methodologies and strategies to promote dialogue and deliver difficult messages

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Functional competencies

•Financial Accounting and Reporting

•Financial Planning and Resource Management

•Financial Policies

•Financial Systems

FI Competency Dictionary

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Behavioral competencies

•Oral and Written Communications

•Risk Management•Negotiation/Persuading•Values and Ethics•Strategic Thinking - Analysis•Strategic Thinking - Ideas

•Engagement•Management Excellence - Action

•Management Excellence - People

•Management Excellence - Finance

FI Competency Dictionary

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Successful Performers

Successful performers:– Display professional behaviour in a

consistent manner;– Fulfill job requirements by being productive

and effective at their work level– Perform at or above the job level (quality,

timeliness and responsiveness) as a matter of course

– Use particular approaches and demonstrate specific behaviours that facilitate meeting of objectives

Poor Performer Far Exceeds Expectations

Successful Performer

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Hiring the Right People

• Competency-based staffing and selection methods: the better the “fit” between the requirements of a job and the competencies of an incumbent, the higher job performance and job satisfaction will be

• Competency-based staffing tools and methods are designed to elicit details regarding candidates’ critical experiences, based on the premise that past performance is a good predictor of future performance on the job

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Learning and Development• Competencies should be used as a basis for the

development of learning plans, and can help managers focus on the learning activities that best correspond to the development needs of their employees

• Key questions for managers: Is the individual performing to his/her best ability? What may be keeping him/her back? Is the individual ready for a promotion? Are there other elements that should be considered?

• Key questions for employees: Am I performing to my best ability? What is keeping me back? What other work would I like to perform? Am I ready for a promotion? What else do I need to consider?

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Performance Assessment

• Use of competencies in the performance management cycle ensures that individuals are evaluated on criteria that are relevant to the job and they are aware of these criteria

• It facilitates communication with management and provides benchmarks against which performance can be evaluated

• Provides transparency and a greater sense of empowerment

The Ideal Strategic Business Advisor: Key Competencies

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• Tells the story behind the numbers

• Asks the right questions

• Asks the right questions• Is business-oriented• Is strategic advice–

oriented• Understands the big

picture• Is an agent of change

• Is client-focused

• Understands risk tolerance and takes into consideration risk appetite

• Is trustworthy• Is flexible

• Oral and Written Communications

• Strategic Thinking – Analysis• Strategic Thinking – Ideas

• Risk Management

Behaviours

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Behavioural Competencies

The Ideal Strategic Business Advisor

• Engagement

“Leadership”

• Balances strategic advice• Monitors projects • Alignment of roles• Ensures policies are respected• Supports and facilitates

decision making• Delivers• Implements

• Planning and Resource Management• Accounting and Reporting• Planning and Resource Management,

Financial Policy and Financial Systems

Behaviours

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Functional Competencies

The Ideal Strategic Business Advisor

BarriersPerceptions of finance function:• Seen as:

focused on itself rule-bound the centre for control process-oriented vs. results-

oriented adding cost to running programs

(i.e., overhead)

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Part II:Investing in your Career

• Learning and development tools to support you in managing your career

• Talent management for the FM community

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Take Charge of Your Career

• Familiarize yourself with the FI competencies and the tools and resources in the Employee’s Guide

• Look at competencies at FI-02, FI-03 and FI-04 levels to determine where you need to grow

• Assess your skills and experience using the “FI to CFO Career Path”

• Develop an action plan

Learning and Development Tools• FI to CFO Career Path • Welcome to Pages• Learning Maps• FI Core Curriculum• Manager’s Guide to Financial Officer

Competency-Based Management • Self-Assessment in Talent Management for

the Finance Community – Employee Guide to Competency-Based Management

Available at: www.gcpedia.gc.ca/wiki/Financial_management_community

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FI to CFO Career Path

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FI to CFO Career Path (cont.)

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FI to CFO Career Path (cont.)

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Welcome to Pages

Welcome to Pages

• Available for each FI level in the career path

• Provides guidance to FIs on how to best position themselves to meet the requirements of their position and for growth within the FM communityCompetencies to develop and master

by levelRecommended learning opportunities

by levelDevelopment and learning required to

reach the next level 27

Learning Maps

• Learning map for each FI level• Linked to core curriculum• Five segments:

Required trainingLearning activities needed to do the jobLearning activities to prepare for a

future positionLearning activities to develop

leadership skillsOther suggested training

• Provides learning to further develop competencies and aid in career progression

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FI Core Curriculum

Developed by the OCG in collaboration with the CSPS. The curriculum has four streams:• Basic stream: foundational level courses

(F-111, F-112, F-113)• Functional stream: core knowledge at the

operational and analytical level – the “how to” of the curriculum

• Strategic stream: designed to develop participants critical thinking skills, includes strategic series

• Development stream: complementary training recommended for all FIs 29

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Learning Pyramid

10% Formal Training 20% Feedback

and Coaching

70% Experience(stretch assignments, shadowing, etc.)

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Finding opportunities

Volunteer your time and learn new skills:

• FMI• Regional councils• Committees• Universities• Non-profit organizations• Boards of directors

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Talent Management for the FM Community

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Current Initiatives in Talent Management

• Rejuvenated FORD Program• FM Community: Learning and Professional

Development Needs• CFO Talent Management

– Institute on Governance– Next Generation– On-line pilot with academia

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Rejuvenated FORD Program

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FORD CampaignsPast, Present and Future

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Current FORD Program Hybrid FORD Program(Fall 2013 Campaign)

Rejuvenated FORD Program(Fall 2014 Campaign)

Eligibility• Bachelor degree with 6

accounting courses• Recent bachelor’s degree with 6

intermediate and/or advanced courses in accounting or auditing; OR

• Bachelor’s degree in any field with a recent accounting designation

• Recent bachelor’s degree and acceptance into a professional accounting designation program (CPA/CGA)

Length of program• Varies by department (1 to 2

years)• 2 years standard across all

departments• Experience verification model

• Minimum 30 months time in seat, as required by professional designation program

• Experience verification modelProgram completion criteria • 2 rotations in one year • 2 rotations in two years • Minimum 2 rotations during 30 months

• Completion of F111, F112, F113 • Successful completion of professional

education program (includes final exams)• Departmental recommendation for promotion

Promotional aspect• Varies by department • Varies by department • OCG to create an FI-02 pre-qualified pool of

FORD candidates for those who meet the program completion criteria

Graduation• 12 months • 24 months; and

• Successful performance (criteria not yet finalized)

• TBD, but likely to be:• 30 months time in seat; or• At some point in time, successful completion

of CPA academic requirements (pre– or post–final exam)

FORD Hybrid CampaignFall 2013

• Major changes from previous campaigns:• 24 months and 2 rotations (vs. one year)• OCG to provide 3 to 4 one-day training sessions• MOU to reflect 24 months

• Anticipated opening of inventory in Spring 2014: • Many bilingual candidates• Inventory numbers based on expected

departmental requirements• Focus on candidates who pursued a

specialization in accounting

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FM Community: Learning and Professional Development Needs

Based on responses to 2012 FM community fact-based questionnaire, the following are the learning and professional development needs identified: • Oral and Written Communications• Engagement• Strategic Thinking – Analysis and Ideas • Management Excellence – People

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CFO Talent Management

Objectives: • Ensure an adequate future supply of

qualified individuals in the community who can fulfill the requirements of the CFO position

• Develop a robust system of succession planning for critical positions within the community

• Identify competency gaps within the CFO community and its feeder groups and ensure plans are in place to address them 39

CFO Talent ManagementDevelopmental Initiatives

In collaboration with the FM community, the OCG developed the following training products:

• On-line Public Sector Financial Management Leadership Development Program, September 2013

• Comptrollership Leadership Bootcamp – Director (EX-01) level, September 2013

• Next Gen CFO Course – aimed at future ADM level CFOs - EX-03 level participants, November 2013 40

CFO Talent Management: Next Steps

• All pilots successfully completed

• Results of recent on-line program to develop leadership and managerial competencies showed that FI-03, FI-04, and EX-01 have different learning needs

• Currently considering a tiered approach to leadership and management development for transitional groups at FI-03, FI-04, and EX-01 levels

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Other Resources

• www.myschool-monecole.gc.ca• Financial Management Institute of Canada

(FMI) (www.fmi.ca)• CICA (www.cica.ca) • CPA (www.cpacanada.ca)• CMA (www.cma-canada.org)• CGA (www.cga-canada.org)

http://www.gcpedia.gc.ca/wiki/Financial_management_community

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Contact us:

Sylvie Séguin, CGAActing DirectorFinancial Management Community Developmentsylvie.seguin@tbs-sct.gc.ca613-946-6242

Julie Tremblay, CPA, CASpecial Advisor – Learning and Developmentjulie.tremblay@tbs-sct.gc.ca613-952-3350

Monique Main, CAManager, FORD/IARD and CAST Programsmonique.main@tbs-sct.gc.ca613-946-7635