Taking Charge of Your Career

Outline External Environment and Expectations Career Model Financial Management Executive Snapshot Thoughts on Leadership It’s about You

External Environment Financial Management is changing  President’s Management Agenda  FMLOB  BFELOB  Business Process Reengineering  FFMIA and A-123 Appendix A Demands for Financial Information are Changing  Performance Budgeting  Business Intelligence  Decision Support

Expectations Transaction based skill sets replace by new Competencies Workforce demographics adding pressure Rate of technology change affects everyone What does a “Knowledge Worker” look like?

OPM Competency Standards Accountants The account functions vary by level, but may include the following:  Reviews, analyzes and presents financial data, including revenue projections and expenditure reports, to determine funding requirements.  Prepares financial statements, reports of operations, expenditure reports, statistical data, and other information concerning financial requirements; assists in gathering and reviewing data for preparation of budget work programs.  Maintains various ledgers, journals, registers and other fiscal records; allocates revenues to appropriate functions; classifies expenditures and posts to various accounts as required.  Reviews and processes expense vouchers, invoices, and other fiscal documents for payment; reconciles various financial reports and other data concerning fiscal operations.  Determines payroll requirements; maintains payroll data; prepares and processes monthly payrolls.

JFMIP Core Competencies Accountant (510) 27 core competencies, aligned into 7 categories: -- General Accounting – GAAP -- Federal Accounting – Federal GAAP and Reporting; appropriations law -- Basic Government Accounting/Operations – Mission, functions, and organization of central and program agencies; agency accounting policies; financial laws and regulations; audits and formal reviews; and management controls -- Planning, Budgeting, and Accountability Business Practices – GPRA; budget process and A-11

JFMIP Core Competencies Accountant (510), continued -- General Management – basic techniques; performance measures and analysis; contracts and grants; business process improvement -- Information Technology – basic concepts and personal computer applications; federal financial management systems -- General/Leadership Skills – written and oral communication; leadership skills

GS-5SES Time / Roles Technical Managerial Complexity Where are you? Where are you going? Career Model

DOC Financial Management Executive Snapshot Six questions survey to 24 DOC executives (20 responded) How many years of Federal service? How many different career fields? Masters Degree? If so, what discipline? What job best prepared you for your current job? When you began your career, did you aspire to be an executive in budget or finance?

The Results Average service 23 years (shortest - 1, longest – 42) 8 did not have Masters (2 CPAs) 11 have at least 1 (three have 2) Most are in related fields but – Education, MIS, International Relations, Systems Mgmt included

Career Fields of Executive Financial Managers Management Analysis Local Government Strategic Planning Policy Analyst Acquisition Economist Engineer Convention Center Manager Development & Marketing Operations Research State Government Program Manager Housing Referral Legislative Staff Cost Analysis Clerk Typist Collections

Aspiration and Preparation Did you aspire to an executive position in budgeting or financial management? Yes, I did aspire to an executive position in the field No, I did not aspire to an executive position in the field What job best prepared you for your current job? A single job All my jobs

Executive Aspiration and Career Diversity Average Number of Career Fields (range of fields during career: 1 – 8) I did not aspire to an executive career in the field I did aspire to an executive career in the field 3.5 5

Thoughts on Leadership Leadership and Accountability are the Foundation of Good Financial Management If You Don’t Do It, Who Will?

When in Doubt, Lead

Lead from the Front

Lead from the Side (or the Rear)

Financial Manager

When in Doubt, Lead

It’s About You Think about your goals and objectives Understand your environment Have a flexible plan for your development Seek out leadership opportunities Take responsibility for your career

This presentation draws substantially from : 21st Century Federal Financial Managers: Are New Competencies Required? Research sponsored by Management Concepts, Inc. John D. Webster, CPA, CGFM, June 21, 2006

JFMIP Core Competencies Mgmt. Analysts/Fin. Spec. (343/501) 18 core competencies, aligned into 4 categories: -- Basic Government Operations – Mission, functions, and organization of central and program agencies; financial laws and regulations; appropriations law -- Planning, Budgeting, and Accountability – GPRA, budget and accounting process; agency financial and budget systems; congressional appropriations process -- General Management – Basic techniques of financial mgmt, economic analysis, internal controls, auditing, and program evaluation; contracts and grants; business process improvement -- General – Oral and written communication; basic computer applications; stress and time mgmt.

JFMIP Core Competencies Budget Analyst (560) 20 core competencies, aligned into 3 categories: -- Budget Concepts and Processes – Basic budget process and A-11; appropriations law; congressional process -- Budget Presentation and Justification – Agency mission and functions; laws and regulations; basic techniques of budget, financial and economic analysis -- General – GPRA; mathematics and statistics; oral and written communication; information technology; stress and time management

Army Core Competencies Multi-Disciplined Fin. Analyst (501) 17 core competencies, aligned into 3 categories: -- Financial Stewardship – Accounting; auditing; budgeting; fiscal law; managerial fiscal responsibility; resource and program management -- Financial Decision Support – Acquiring and contracting; business process and practices; cost and operations research analysis; information technology management and application; management services; organizational performance measurement; project management -- Leadership and Organizational Mgmt. – HR mgmt.; interpersonal skills; leadership and mgmt.development; strategic vision