Finance professional specialist skills framework



|Finance

Professional/ Specialist Skills Framework | |

Effective from April 2007

Levels of Competence – Awareness/Practitioner/Expert

A – Awareness - You should have a broad understanding of the skill area and the underpinning knowledge and be able to ask relevant and constructive questions.

Describes someone who is dependent on others for direction or advice, is learning the skill and, when facing something new or unusual, has to refer to procedures, manuals, other team members etc, for guidance. You may only ever need awareness of particular skills, or you may be gaining experience in the skill.

It is important to note that attending training does not automatically mean that your proficiency level will increase. Once you have received training, you will need to reinforce what you have learnt by using the skills.

You may stay at this level for some time; training and other development activities will help, but it is experience of applying new skills that will develop your proficiency level. As people learn at different rates, there is no set time limit for your level to increase.

P – Practitioner - You should have detailed knowledge of the subject and have practical experience, capable of providing help and advice to others in the area.

Describes someone who can cope with standard problems/common situations, is competent at day to day application of the skill, and is able to present concepts, information and solutions.

At this level, you can deal with most standard problems and will need to refer to an expert only for non-standard issues and problems. You will still be using a variety of development activities such as mentoring, coaching, shadowing, reading manuals, articles, white papers etc and on the job training to increase your experience and proficiency level. You will probably stay at this level for some time , becoming an

experienced practitioner.

E – Expert - You would be expected to have detailed practical experience; to be able to apply the knowledge in complex and difficult situations, to lead others in the area, to define best practice and to share your knowledge and experience.

Describes someone who can cope with unusual/non-standard problems and issues, is aware of different options and approaches to situations, can guide or advise others in the skill and is able to look ahead and anticipate. You are not only capable but also confident in applying the skill in ordinary and unusual situations. Others will seek you out for advice and you may be involved in coaching/mentoring activities.

Training alone will not take you to an expert level; it is experience in the job, as well as using the skill and other development activities, that will develop your proficiency level.

SKILL AREA 1 - PERFORMANCE MEASUREMENT, MANAGEMENT AND IMPROVEMENT

Using business knowledge and experience to analyse past, current and forecast performance of the organisation, taking action

where necessary to deliver business objectives

|AWARENESS |PRACTITIONER |EXPERT |

|1.1 Demonstrates knowledge of the |1.3 Sets and monitors relevant performance |1.7 Defines the business objectives/business |

|principles of Customer Supplier Agreements |data through local performance agreements |requirements at departmental level and |

|(CSAs), Service Level Agreements (SLAs) |or CSA/SLAs/SDAs. |directs any improvement action necessary to |

|and Service Delivery Agreements (SDAs) | |meet the objectives. |

|together with their links to the planning and | | |

|performance management process. | | |

|1.2 Demonstrates an understanding of the |1.4 Manages customer/supplier relationships |1.8 Analyses data received to inform internal |

|relevant performance data for the |collaboratively across the Ministry of Justice to plan and deliver |and external performance reports. |

|organisation and understands how it is used |business outputs both | |

|to inform business decisions. |in-year and through life. | |

| |1.5 Reviews, analyses and interprets |1.9 Develops and directs effective |

| |resource management performance data to |performance and risk management regimes |

| |inform both local and higher level decision |across the Ministry of Justice. |

| |making. | |

| |1.6 Assists in the evaluation of options for | |

| |action to meet business objectives, | |

| |implementing and managing required | |

| |improvement or reinforcement action. | |

SKILL AREA 2 - FINANCIAL ACCOUNTING

Application of sound business knowledge, standard accounting practice, financial policy and procedures to ensure integrity of

accounts and contribute to true and fair statements.

|AWARENESS |PRACTITIONER |EXPERT |

|2.1 Demonstrates an understanding of |2.3 Applies accounting principles and |2.8 Interprets financial policy as defined by |

|Parliamentary and Treasury funding and the |concepts correctly. |HM Treasury and the Accounting Standards |

|different control frameworks. | |Board and issues Ministry of Justice specific accounting |

| | |policy. |

|2.2 Demonstrates an understanding of the |2.4 Undertakes accurate transaction |2.9 Applies standard accounting practice, the |

|purpose and format of financial statements |processing in accordance with standard |control framework, departmental financial |

|and the concepts underpinning them. |financial and accounting policy and |policy and sound business knowledge to produce the key financial |

| |procedures. |statements which are used to compile the departmental and Agency |

| | |Accounts. |

| |2.5 Conducts appropriate management | |

| |validations and review of audit trails. | |

| |2.6 Maintains and undertakes timely | |

| |reconciliation of financial data, including | |

| |control accounts. | |

| |2.7 Carries out timely and accurate period | |

| |end reporting and consolidation of financial | |

| |data in accordance with standard financial | |

| |policy and procedures. | |

SKILL AREA 3 - INVESTMENT AND OPTIONS APPRAISAL

Identification, collation and evaluation of relevant financial and non-financial data to support investment decision making and

post project evaluations.

|AWARENESS |PRACTITIONER |EXPERT |

|3.1 Demonstrates an understanding of the |3.4 Applies the departmental investment |3.8 Formulates and disseminates policy on |

|Ministry’s investment appraisal process. |appraisal process in constructing and |the conduct of investment appraisals and post |

| |scrutinising investment appraisals. |project evaluations with the aim of improving |

| | |departmental investment decisions. |

|3.2 Understands the need for and purpose of |3.5 Develops and articulates a clear, sound |3.9 Advises project teams on investment |

|business cases and post project evaluations. |business case to support the recommended |appraisal and post project evaluation and |

| |course of action. |scrutinises submissions to ensure that |

| | |lessons learned inform the decision making |

| | |process. |

|3.3 Demonstrates a broad understanding of |3.6 Implements a strategy to track and |3.10 Advises on all appraisals that will |

|the rules and techniques associated with |realise the benefits associated with |eventually go to Ministers or other approvals Boards or which |

|private sector contracting (Public Private |investment. |support submissions that do; scrutinises all such submissions. |

|Partnership, Private Finance Initiative.) | | |

| |3.7 Conducts lessons learned and post | |

| |project evaluations, drawing sound, objective | |

| |conclusions, and shares findings effectively | |

| |across the organisation. | |

SKILL AREA 4 - MANAGEMENT ACCOUNTING

The organisation, presentation and analysis of financial and non-financial information to inform decision making about the planning and

delivery of business outputs.

|AWARENESS |PRACTITIONER |EXPERT |

|4.1 Demonstrates an understanding of |4.5 Applies planning, budgeting and |4.10 Manages capital expenditure budgets, |

|planning, budgeting and forecasting |forecasting techniques to produce accurate |taking account of use and deterioration of the |

|techniques. |and timely submissions for departmental |existing asset base and implications for other |

| |processes, identifying or exploiting |parts of the organisation. |

| |opportunities for more effective delivery of | |

| |outputs. | |

|4.2 Demonstrates an understanding of the |4.6 Provides management information in relation to resources, |4.11 Provides accounting advice, analysis |

|financial and non-financial information |outputs and business performance and supports business managers in |and scrutiny to support business managers in |

|needed by business managers. |its interpretation. |complex situations and contributes to future |

| |Advises on the implications and potential |business strategies. |

| |impact of decisions. | |

|4.3 Demonstrates an understanding of |4.7 Supports/influences decision making by |4.12 Optimises the level and utilisation of |

|departmental policy on charging for the use |understanding the business, its activities and |assets and working capital to deliver business |

|of resources. |costs (through life where appropriate) by |outputs, considering the impact of decisions |

| |evaluating the resource impact of alternative |objectively over the short, medium and long |

| |courses of action. |term and across organisational boundaries. |

|4.4 Demonstrates an understanding of cost |4.8 Supports decision making with | |

|drivers and cost behaviour. |appropriate rate and charging guidance. | |

| |4.9 Applies appropriate costing methods, | |

| |techniques and systems to support activity, | |

| |output and capability. | |

SKILL AREA 5 - FINANCIAL SYSTEMS

Delivering, developing and exploiting the relevant resource management systems and processes to support the Ministry’s financial policy, regulations, information requirement and user population.

|AWARENESS |PRACTITIONER |EXPERT |

|5.1 Demonstrates awareness of the relevant |5.3 Optimises the use of on- and off-line |5.5 Manages and reviews systems and |

|financial systems and processes. |financial management systems, processes |processes to ensure compliance with |

| |and applications to ensure the timely capture |departmental IT and financial policies, other |

| |of complete and accurate data. |systems and user requirements. |

|5.2 Understands the link between the various |5.4 Uses financial management systems, |5.6 Supports the users and organisation |

|financial systems and processes. |processes and applications to extract and |proactively in exploiting the full potential of |

| |deliver identified management information in |central and local planning, finance and |

| |relation to resources, outputs and business |performance management systems. |

| |performance to support routine and ad-hoc | |

| |requirements. | |

SKILL AREA 6 - GOVERNANCE

Manages activities and risk in line with good business practice and ensures compliance with Parliamentary, HM Treasury and departmental

governance policies.

|AWARENESS |PRACTITIONER |EXPERT |

|6.1 Demonstrates an understanding of the |6.5 Applies relevant departmental policies |6.11 Interprets, advises, reviews and |

|public sector requirements for regularity, |regarding regularity, propriety and value for |contributes to departmental corporate |

|propriety and value for money. |money. |governance policy. |

|6.2 Demonstrates an understanding of the |6.6 Works within the departmental policy of |6.12 Provides clear advice and guidance on |

|departmental policy of delegated authority. |delegated authority. |management of risk in complex cases. |

|6.3 Understands the role of the National |6.7 Undertakes regular and effective financial |6.13 Interprets HM Treasury guidance to |

|Audit Office, Internal Audit and the |and requirements scrutiny and management |formulate, and disseminate, Ministry of Justice specific policy on |

|Audit Committee and the auditing |review. |regularity and propriety. |

|process. | | |

|6.4 Understands risk management |6.8 Identifies, assesses and manages risk | |

|techniques. |appropriately. | |

| |6.9 Provides appropriate internal and | |

| |external assurance, including responses to | |

| |Parliamentary questions and Ministerial | |

| |enquiries. | |

| |6.10 Conducts auditing and assurance | |

| |processes in accordance with Ministry of Justice policies and | |

| |regulations. | |

SKILL AREA 7 - CASH AND TREASURY MANAGEMENT

Planning, managing and forecasting bank and control account balances and cash flow in line with Government Accounting.

|AWARENESS |PRACTITIONER |EXPERT |

|7.1 Demonstrates an understanding of how |7.2 Accounts for transactions through bank |7.7 Provides clear advice and guidance to |

|the Ministry of Justice is funded including its |accounts in accordance with Government and |staff on complex banking and cash |

|banking structure, activities and internal cash |departmental accounting guidelines. |management matters, including departmental |

|flows. | |VAT accounting. |

| |7.3 Manages and reconciles Cash and Bank |7.8 Manages the overall forecasting of |

| |control accounts. |departmental cash flow requirements within |

| | |the departmental Net Cash Requirement |

| | |Control Total and the requirements of the HM |

| | |Treasury Departmental Cash Management |

| | |Scheme. |

| |7.4 Manages and maintains optimum |7.9 Manages the day to day relationships |

| |balances in cash and bank accounts to meet |with suppliers of banking services. |

| |business needs. | |

| |7.5 Plans, forecasts and manages sterling | |

| |and foreign exchange cash flows in line with | |

| |local requirements. | |

| |7.6 Applies appropriate departmental VAT | |

| |accounting processes. | |

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