Treasury Board of Canada Secretariat

A Guide to the Financial Officer Competency Profile

A Guide to the Financial Officer Competency

Profile
(Publié aussi en français sous le titre Guide d'utilisation du Profil des
compétences des agents financiers)

Table of Contents
1.0 Introduction.....................................................................................................1

2.0 Career Planning: A Self-Directed Process...................................................1

3.0 Importance of Developing a Competency Profile.......................................2

4.0 Structure of the Financial Officer Competency Profile...............................2

5.0 Using the Assessment Tool...........................................................................3

6.0 Instructions for Using the Computer Program............................................9

7.0 APPENDIX A: Financial Officer Competency Profile................................15

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A 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.

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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).

Interpersonal

Communication • Integrity/ethics and values • Negotiating/persuading • Service orientation •

Teamwork • Insight/judgment • Creative/innovative thinking

Business Perspective

Strategic thinking/visioning • Organization and public-sector knowledge • Business

analysis/cognitive capacity • Risk management

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Functional

Strategic resource management • Expenditure and cost accounting • Revenue management •

System processes and technology • Internal control • Financial/statutory reporting and
accounting principles

Leadership/Management

Effectiveness/stamina/stress resistance • Self-confidence • Developing people/coaching • Change

management • Project management/action management • Problem solving/decision making

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:

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1 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.

2 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.

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

4 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

1 Answer questions on self-assessment tool

1A Option: (manager coach, mentor, human resource specialist) to do assessment of your

competencies using the self-assessment tool

2 Identify next steps based on competency results

3 Discuss profile with manager

4 Pursue goals

5 Do annual review of competencies and achievements

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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.

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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:

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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:

1 Keep a running list of possible actions to take after you:

 talk to a manager, friend, mentor, or coach

 read articles, reports, books…

2 Identify on your list of possible actions:

 people to meet

 associations to join

 meetings to attend

 applications to fill out

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 material to read

 plans to prepare

 to do’ lists to start and follow

3 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

Installation de l'instrument d'évaluation

Insérez le CD-ROM contenant l’instrument d’évaluation dans votre lecteur de CD-ROM. Le

programme se mettra automatiquement en marche et l’écran d’installation.. Suivez les messages
d’installation.

Vous pouvez installer l’application et les données sur un lecteur partagé simplement en
changeant le lecteur par défaut (et le dossier) du programme d’installation. L’icône du
programme paraîtra sur votre bureau.

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Vous pouvez aussi exécuter l’application à partir du dossier partagé en l’installant sur le lecteur
partagé et pouvez ensuite créer des raccourcis vers votre bureau (en choisissant l’icône dans
Windows Explorer, puis en la glissant sur votre bureau à l’aide du bouton droit de la souris;
lorsque vous relâcherez le bouton, choisissez Créer un raccourci dans le menu éclair).
Le système a été conçu pour être installé sur des appareils individuels (et non sur un lecteur
partagé) afin d’assurer à l’utilisateur une meilleure protection des données. Le lecteur partagé est
normalement employé seulement pour les fichiers de transfert créés en exportant une évaluation
(envoi d’évaluations entre vous et votre superviseur). Il n’est pas vraiment nécessaire pour tous
d’avoir accès aux mêmes données (un lecteur partagé ne serait donc nécessaire que si une
personne n’avait pas son propre ordinateur).

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

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 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

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 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

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 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

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 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

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 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

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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

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 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

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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

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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

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 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

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 develops proactive strategies to prevent or solve problems

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