#CPACONGRESS E5: The changing face of the public sector CFO: From provider to strategist Paul Wood, Chief Finance Officer, Department of Foreign Affairs.

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Presentation transcript:

#CPACONGRESS E5: The changing face of the public sector CFO: From provider to strategist Paul Wood, Chief Finance Officer, Department of Foreign Affairs Amanda McIntyre, Chief Financial Officer, Department of the Prime Minister and Cabinet Scott Hartley, (Facilitator) National Managing Partner, Operational Advisory and National Head of Public Sector Industry, Grant Thornton (Melbourne) Friday 21 November :15PM - 3:05PM

Transforming the Public Sector: The role of the CFO in driving change Scott Hartley, Partner & National Head of Public Sector

© 2014 Grant Thornton Australia Ltd. All rights reserved. Agenda Introduction The changing face of the Public Sector CFO –Survey context –Results overview Executive Representation Capability and Capacity –Meeting Current and Future Challenges – Key findings Workforce Capability Re-engineering –Recommendations for the CFO Panel discussion Q&A ?

© 2014 Grant Thornton Australia Ltd. All rights reserved. Survey respondents Agency type

© 2014 Grant Thornton Australia Ltd. All rights reserved. Representation on the Executive 58% of CFO's are on the E xecutive t eam 82% of CFO's are on the F inance Committee 58% of CFOs are voting members of the Finance Committee

© 2014 Grant Thornton Australia Ltd. All rights reserved. Capability and capacity - shift Functional areas that sit under the CFO in addition to finance 49% 27% 14% 53%

© 2014 Grant Thornton Australia Ltd. All rights reserved. Survey question: What percentage of your time would apportion against each role Key CFO focus areas

© 2014 Grant Thornton Australia Ltd. All rights reserved. Finance team: professional designation Survey question: How important do you believe it will be for your finance staff to have a professional designation over the next 3 to 5 years?

© 2014 Grant Thornton Australia Ltd. All rights reserved. Meeting challenges: "Re-engineering"

© 2014 Grant Thornton Australia Ltd. All rights reserved. CFO EFFECTIVENESS CHECKLIST Does the CFO provide input into key strategic and operational decisions? Is there sufficient opportunity for them to do so? Does the CFO demonstrate the capability to provide strategic advice? Does the CFO have the capacity to provide strategic advice and analysis? Do the functional areas under their responsibility of the CFO align with their skill set? How well does the CFO understand and engage with the operational areas of the agency? CFO EFFECTIVENESS CHECKLIST Does the CFO provide input into key strategic and operational decisions? Is there sufficient opportunity for them to do so? Does the CFO demonstrate the capability to provide strategic advice? Does the CFO have the capacity to provide strategic advice and analysis? Do the functional areas under their responsibility of the CFO align with their skill set? How well does the CFO understand and engage with the operational areas of the agency? Recommendations for the Agency Heads 1.Assess the effectiveness of the CFO 2.Transform from the top; support the reengineering of business process through demonstrated acceptance of change 3.Adopt a client or citizen perspective when designing services to foster greater collaboration across agencies.

© 2014 Grant Thornton Australia Ltd. All rights reserved. CPA Australia – Grant Thornton Report TRANSFORMING THE PUBLIC SECTOR The role of the CFO in driving change OCTOBER 2014

© 2014 Grant Thornton Australia Ltd. All rights reserved. Contact Details Grant Thornton Scott Hartley Partner & National Head of Public Sector E T