JFMIP-ET-98-3 Core Competencies In Financial Management .

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FOREWORDThe Human ResourcesCommittee of the U.S. Chief Financial Officers (CFO) Council andthe Joint Financial Management Improvement Program (JFMIP) have undertaken effortsto improve the recruitment, training, retention, and performance of Federal financialmanagement personnel. Since 1995, the Human ResourcesCommittee and JFMIP havebeen jointly developing and issuing core competencies for various disciplines that areinvolved in financial management.The documents are:Framework for Core Competencies for Federal Financial Management Personizel, whichestablished core competencies for. accountants,budget analysts, and financial managers;Core Competencies in Financial Management for Program Managers in the FederalGovernment;Core Competencies for Financial System Analysts in the Federal Government; andCore Competencies in Financial Management for InformationImplementing Financial Systems in the Federal Government.Technology PersbnnelThis,document, Core Competencies in Financial Management for Management Analystsand Financial Specialists, will complete the series of core competencies that weredeveloped jointly by the CFO Human ResourcesCommittee and JFMIP. The traditionalfunctions of management analysts and financial specialists have changed with the passageof the Government Performance and Results Act. The Results Act requires greaterintegration among the planning, budgeting, analysis, and accountability activities. Thisrequirement for integration is bringing management analysts and financial specialistscloser together. When we were establishing the core competencies (knowledge, skills, andabilities ) in financial management for both of thesedisciplines, we found that they werethe same. This document identifies the core competencies for entry level (level l), midlevel (level 2), and senior non-managerial staff (level 3), and the appropriate learningobjectives and developmental activities.It is expected that this document will be used in conjunction with the other corecompetencies documents issued, and that these documents will promote a betterunderstanding of human resourcesdevelopment governmentwide. If you have anycomments or changes to this document, please contact the CFO Human ResourcesCommittee or JFMIP.I

AppendixMajor Contributors to Core Competencies in Financial Managementfor Management Alialysts and Financial SpecialistsLeonard Bechtel, Environmental Protection AgencyTerry Conroy, Department of LaborDavid Therer, Department of AgricultureWalter Wright, Department of AgricultureThis document was done under the auspices of the CFO Council Human ResourcesCommittee andJFMIP:Kenneth M. BresnahanActing Chief Financial Officer, Department of Labor, andChair, CFO Human ResourcekCommitteeKaren Cleat-yAldermanExecutive Director, JFMIP

Core Competencies in Financial Managementfor Management Analysts and Financial Specialists.IINTRODUCTIONCore Competencies in Financial Management fsr Management Analysts and Financial Specialists isthe fifth in a series of core competencies publications developed by the Human Resources Committeeof the U.S. Chief Financial Officers (CFO) Council and the Joint Financial Management ImprovementProgram (JFMIP). This document, like its predecessors,concerns the recruitment, development andretention of staff for key financial management positions.Management Analysts and Financial Specialists’ Management analysts and financial specialists play critical roles in the financial management andbudgeting communities. Employees occupying thesepositions serve as the office “generalists,”participating in a broad range of activities related to the budget and accounting practices of theiragencies. pie lacking the specific expertise or educational background of many of their colleagues(e.g., accountants), management analysts and financial specialists often possessa broad array ofpersonal qualities, including strong organizational, analytical, and communications skills, that,‘makethem valuable to management and capable of leading office-wide exercises such.asplanning, trainingor program liaison,While management analysts traditionally performed functions requiring program reviews,coordination and analysis, financial specialists provided expertise and technical assistanceto corefinancial operations. The gap between the two positions closed considerably when Congress passedthe Government Performance and Results Act (Results Act). Under the Results Act, agencies need toensuregreater integration among their planning, budgeting, analysis and accountability activities.Agencies can no longer run their management processesas a series of independent activities. As aresult, financial specialists need to be aware of, and participate in planning and budgeting activities tomake accounting information more relevant to program managers.On the other hand, management analysts must be able to understand the value of financial information. in order to analyze accountability information and make appropriate recommendations tomanagement. While specific tasks assigned to management analysts and financial specialists maycontinue to reside in different parts of the organization, the knowledge, skills, and abilities needed toperform both positions have become remarkably similar.An interagency working group began the core competencies project by identifying knowledge, skillsand abilities for each position. After the first draft, it became apparent to the working group that asingle set of coremcompetencieswas required for both management analysts and financial specialists.Therefore, this document embodies these core competencies.

The competencies are divided into.three general categories: Basic Government Operations; Planning,Budgeting and Accountability; and General Management. These are the three general areasthatevery management analyst and financial specialist should seek to develop. Because employees inthese positions cover such a broad range,,offunctions, it is likely that managers and employees willneed to tailor the compete&es to fully reflect what management analysts and financial specialists intheir organizations should be learn or be able to do. In addition, the document indicates theappropriatenessof the core competencies for three distinct levels:Level 1Level 2Entry level;,typically consisting of introductory fundamental, basic, and routine activities;normally 1 to 3 years of experience.‘3 I/’Journey level; typically ,consisting,of activities which, addressspecifics, proficiency,applications, and local missions, normally‘.a rnmimum.of4 years of experience.,Level 3Senior level; normally a team leader or first level,.supervisor, typically consisting ofactivities which addresscomplex, expertise, program impact, or extended operationsinvolving multiple organizations.: ,.3The knowledge, skills, and abilities (KS,AsJ are listed in the first column of the following matrix. Inthe center of the.matrix, the columrr’entitled ‘1LearningObjectives” describes what‘developmentalactivities should provide to the individual in order to .achieve’the,competencies. Examples of the’ types of developmental activities one.should consider are listed in the final column These activitiesinclude on-the-job training and formal training courses. .’This document.reflects contributions from many agencies. Source documents prepared by theDepartment of Defense,,Department of Energy,: and Environmental Protection Agency served asmodels for these core competencies. In addition, several agencies participated on the Workgroupdeveloping the language for, the specific,comp,etencies.How to Use This DocumentThis document should be used as a guide for making a multitude of workforce decisions fromconsidering what type of staff to hire, to planning and executing staff development programs. Thisdocument can be the centerpiece for discussion between management and staff regarding trainingchoices or rotational assignments. This document assists management to communicate itsexpectations to staff. It also provides a mechanism for staff members to request assistancefrommanagement to help them grow personally and professionally. The document is just one tool to assistyou with difficult personnel issues. For additional assistance,you are encouraged to turn to humanresource professionals in your agency. ‘,,,Employees should be aware that they have a responsibility for building these core competencies inorder to prepare themselves for effectively executing their duties. However, this document is merelya guide. While following the advice found in this document will help you become a more effectiveemployee, it does not guaranteepromotions or necessarily qualify you for a specific position.2

CFO Council’s’CoreCompetencies SeriesThe Framework for Core Competencies for Financial Management Personnel in the FederalGovernment is intended as a reference tool. It is intended for persons in financial management,human resources management, and other related fields who have a need to understand whatconstitutes core competencies, learning objectives, and related developmental activities. Thisdocument is considered to be applicable to personnel at all levels and in any organizational componentperforming financial management functions.The Core Competencies are intended for the respective disciplines. The CFO Hum& ResourcesCommittee and JFMIP established review boards to ensure the currency of these documents.

MANAGEMENTCORE COMPETENCIES(Knowledge of, Ability to Use,. orSkill in Using)/ PMENTALACTMFIESi -/123Knowledge of basic missions, functions,Xand organizational structure of the agencyand its offices.XXL. Basic GovernmentANALYSTSOperationsUnderstand the organization’s mission in context of Courses:its legislative mandates and Administration priorities Internal orientation briefingsfor the agency.iComprehend how the agency is organized to achieveits mission.Work Experiences:Read and discuss with supervisor agencyauthorizing legislation and agency missionstatements.Rotational assignments to agency planningoffice, program office planning staff, orCongressional liaison office.!IThe roles central agencies such as OMB,Treasury, GSA and OPM play ingovernment operations.Public laws, executive orders, OMBcirculars, bulletins, agency directives,Comptroller General decisions and courtopinions governing the agency’smanagement processes.XXXXXXComprehend the relationships of central agencies to Courses:agency operations.Federal government operationsPublic administrationMaximize support for agency mission by workingwith central agencies.Work Experiences:Rotational assignment to finance office.Details to central agencies.Projects working on functions requiringinteraction with central agency staff.Comprehend and incorporate legislative andadministrative requirements into all work products.Courses:Appropriations lawBudget formulationManagement integrityWork ExPerience:Details to planning, budget, andfinance offices.

CORE COMPETENCIES(Knowledge of, Ability to Use, orSkill in Using)LevelsLEARNING11. MTIESand -AccountabilityStrategic planning processComprehend the requirements of Federal planning.Participate in and/or lead the development oforganizational strategic plans.Ensure cohesive integration of strategic planning,budgeting and financial management.Courses:Strategic planningCustomer serviceCreative decision makingLeadershipGovernment Performance and. Results ActBusiness process re-engineeringWork experience:Participating in agency strategic planningprocess.Reviewing strategic plans for cross-cuttingagencies.iBasic budgeting, accounting and program Xconcepts and principles including agencybudget procedures and its financialmanagement system(s).XXUnderstand budget and accounting terminologyapplication.andCourses:Budget formulationBudget presentation.Budget executionAppropriately apply budget and accountingGovernment accountingprinciples and procedures to work products.Cost accountingUnderstand the functions of agency financial systems Standard General LedgerAccounting standardsEfficiently retrieve, use and analyze informationManagerial accountingpertinent to daily work.Workexperience:Rotational assignments to planning,budgeting and finance offices.’

CORE COMPETENCIES.(Knowledge of, Ability to Use, orSkill in Using)Structure of appropriations and otherfunds which support the agency’smission.LevelsLEABNING123XXXAgency’s budget operations and processesand: how obligations and expenditures areincurred for assigned program areas.X:Current program, budget, and accounting ’issues and state-of-the-art developmentsin resources management field. Areasoutside of the budget which have financialimportance to the programs of the agency.XXOBJECTIVESComprehend the statutory and regulatoryrequirements associated with budget execution.Develop and apply funds control and internal policiesthat ensure administrative control of funds.Demonstrate the necessary budget functions toaccomplish organizational mission within legalparameters. Develop and present options formaximizing resources in complex operating.environment./::.Identify priorities and mandates for designatedprogram area in order to competently estimatespending and manage funds.:, .*DEVELOPMENTALACTIVITIESCourses:Federal budget processBudget planning and formulationAppropriations lawCash managementGovernment accountingWork experience:Participating in preparation of. organizational budget submissions.Supporting manager in budget execution.:Courses: .’Program regulations and operations,B,udget- execution %rk.Expe&nce:- .-Details, to program ,offices. ; ‘. :. : . jJoint cprojects ,with program office staff.-.:);.,. ‘ I:-Explain importance and impact of specific budgetCourses:.z.and accounting issues to high-level program officials. Relevant graduate-level management.(. .: : . :courses.‘. .-,.Continumg education in the budget andaccounting fields.,Work experience:Interacting with peers and customers.Participating in and attendance atprofessional seminars and symposia.\

CORE COMPETENCIES(Knowledge of, Ability to Use, orSkill in Using)LevelsLEARNINGI23The Congressional appropriations andFederal budget preparation processes asthey apply to the agency.OBJECTIVESDEVELOPMENTALACTMTIBS,.XXPrepare budget narratives and exhibits for inclusionin OMB and Congressional budget proposals.Outline possible agency responses to potentialCongressional reactions to proposed agency budgets.Courses:Federal budget processesBudget formulation.B.udget estimating techniques.Budget presentation and justificationCongressional appropriation process

CORECOMPETENClESLevels(Knowledge of, Ability to Use, orSkill in S.:. General Mmagement0Basic techniques of financialmanagement, economic anilysis, internalcontrols, auditing, and programevaluation.Comprehend the fundamentals ‘of financialmanagement. Apply range of bench marking,analysis and program evaluation techniques. Conveyfundamentals of internal management controls andcontrol techniques. Explain principles of Federalauditing and their application to piogram.management.Courses:Accounting controlsBusiness administrationAnalytical techniquesProcess re-engineeringProgram evaluationFundamentals of Federal procurementContract managementGrants managementManagement integrityEconomicsFederal auditing principlesWork experience:Serving on process reinvention teamProjects involving in-depth programevaluationEvaluating internal controls1Performance measures, cost accountingand analysis.XXUnderstand the principles and possible application ofcost accounting in the Federal government. Reviewthe uses and possible application of performancemeasurements, particularly in relation to the ResultsAct. Demonstrate how performance measurement,can be integrated into the budget process.Courses:Cost AccountingInformation SystemsPerformance measuresProgram analysisGovernment Performance and Results ActW&k experience:Detail to office coordinating agency costaccountingProjects involving analysis of cost and/orperformance data

CORE COMPETENCIES(Knowledge of, Ability to Use, orSkill in Using)2Generally accepted managementprinciples and practices.LevelsLEARNING123XXXOBJECTIYESUnderstand accepted management principles andpractices, organizational development concepts ge management coursesConferences and workshopsWork Experience:Process Reengineering TeamHuman Resource ProjectsOrganizational Reviews3Organizational development concepts andorganizational analysis techniques,performance effectiveness concepts,productivity measurement andmeasurements system.XXUnderstand and apply principles and applications oforganizational assessment, management interventionand change management, management indicators,effectiveness and efficiency measures, andmeasurement system design techniques. .Courses:-Organizational developmentChange ManagementBenchmarkingProgram AnalysisPerformance ManagementWork experience:Rotating to Human Resource Office.Participating on performance measuredevelopment teams4Federal procurement, contractmanagement and grants managementxxIdentify and interpret Federal policies regardingprocurement, contract management, cooperativeagreements and grants.Courses:Federal procurementGrantsContract managementProject officers trainingWork experience:Serve as DOPO for work assignmentDeveloping statement of work for contractRctational assignments9

CORE COMPETENCIES(Knowledge of, Ability to Use, orSkill in Usihg)LevelsLEARNINGOBJECTIVES15Productivity improvement systems andbusiness reengineering processes.2’3XXDEVELOPMENTALCourses:Understand processes for reviewing andreengineering business practices. Interpret and apply Productivity improvementBenchmarkingknowledge and design, acquisition process,procedures, terminology and documents, andProcess reengineeringWorkflow analysisimplementation of productivity improvementsystems.Work experience:Reengineering teamRotation to planning officeACTMTIES

.CORE COMPETENCIES(Knowledge of, Ability to Use, orSkill in IVITIESI. General16Oral and written communicationXPrepare and present analyses, reports and budgetjustifications to officials. Conduct and/or participatein effective meetings.Courses:Basic communications skillsBriefing and presentation techniquesFacilitation skillsWriting skillsWork experience:Incorporate learned skills into day-to-daywork assignments.17Basic computer applicationsXXXApply computer application skills to presentfinancial data using the appropriate format (i.e.,spreadsheet, narrative, graphic).Courses:Basic computer useSoftware packages,used by agency (i.e.,spreadsheets, graphics, presentationsoftware)Work experience:Incorporate learned skills into day-to-daywork assignments, as applicable.18Stress and time management techniquesXXXUnderstand stress and time management techniquesused to meet tight deadlines and promote effectiveuse of time.Courses:Stress managementTime managementWork experience:Incorporate learned skills into day-to-day.work assignments, as applicable.

U.S. General AccountingOfficeJoint Financial Management Improvement ProgramRoom 3111441 G Street NWWashington, DC 20548-0001Postage& Fees PaidPermit No. G-100OFFICIALBUSINESSPenalty for PrivateUse 300It/ I

Core Competencies in Financial Management fsr Management Analysts and Financial Specialists is the fifth in a series of core competencies publications developed by the Human Resources Committee of the U.S. Chief Financial Officers (CFO) Council and the Joint Financial Management Improvement

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