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Financial Management Community Development Strategic Plan 2013–18

Background

The Office of the Comptroller General (OCG) is mandated to provide functional leadership and support the development of sustainable capacity within the financial management (FM) community.

The OCG conducted a vision and strategic plan exercise in consultation with the FM community and stakeholders to determine the financial management community’s learning and professional development needs. The resulting strategic roadmap focuses on the current and future developmental needs and priorities of financial officers (FIs) and financial executive (EXs) of the FM community.

Proposed Mission and Vision

The mission of the financial management community of government is to provide a sound and professional financial management function across the Government of Canada. The community’s vision is to be respected as a professional, strategic, modern and capable workforce within the Government of Canada.

Key Findings

The community identified the following areas of priority competency development:

  • Cost estimation
  • Policy interpretation and Public Sector Accounting Standards, particularly for small agencies and departments
  • Communications (written and oral)
  • Strategic thinking (ideas and financial analysis)
  • Management excellence (people management)
  • Engagement

Proposed Strategic Roadmap and Initiatives

  1. Build a Professional Community for Financial Officers and Financial Management Executives

    The table below outlines the current programs and the proposed programs in the area of training and development.

    Level Existing Programs Proposed Programs
    FI-01 to FI-02
    • FORD Program
    • Leadership training provided by the private and public sectors

    Existing programs and the following:

    • Rejuvenated FORD Program
    • OCG delivered FI-01 and FI-02 on-boarding sessions
    FI-03 to FI-04
    • MBA and other graduate programs
    • Leadership programs provided by the private and public sectors
    • Targeted training related to government and community priorities (e.g., cost estimation)

    Existing programs and the following:

    • Identification of additional cost-effective leadership programs that could be tailored to meet FM competency development needs
    • Targeted training on key areas of competency development (behavioural and functional)
    • Facilitation of rotational opportunities to obtain broader functional experience
    • OCG delivered FI-03 and FI-04 on-boarding sessions
    • Sharing of best practices through outreach
    EX-01 to EX-05
    • MBA and other graduate programs
    • Leadership programs provided by the private and public sectors

    Existing programs and the following:

    • Identification of additional cost-effective leadership programs that could be tailored to meet FM competency development needs
    • Talent management, transitioning to the EX-01 role, and developing future CFOs
    • Establishment of an EX-03 CFO development program
    • Series to facilitate transfer of knowledge and sharing of initiatives

  2. Development of Partnerships and Alliances

    The focus will be on the following initiatives:

    • Reinforcing key stakeholder relationships, including the Canadian professional accounting bodies, academia and the Financial Management Institute (FMI)
    • Seeking engagement and support for community development activities with financial management community leaders (deputy heads and FM executives)
    • Strengthening alliances/relationships with other functional communities
    • Piloting professional development and learning initiatives such as:
      • Leadership Boot Camp offered by the Institute on Governance
      • Next Generation CFO Academy offered by Deloitte
      • Online Financial Management Executive program through academia
  3. Ensure Capacity in the Financial Management Community Development Office

    The focus will be on the following initiatives:

    • Developing and executing value-added, efficiently delivered and effective financial management community development initiatives
    • Evaluating biannually the alignment, effectiveness and efficiency of financial management community development key initiatives with government, TBS-OCG and financial management community priorities
    • Scanning the financial management community environment annually to identify “hot” issues that require focused attention and support for the year
    • Identifying and closing any competency gaps of financial management community development staff required to deliver on strategic priorities

Contact Us

Please direct any enquiries to Financial Management Community Development.

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