the role of the chief financial officer

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the role of the chief financial officer
Alison Scott AD Local Government CIPFA
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Chief Financial Officer

• Highest finance professional within a public
  service organisation
• Key responsibilities for financial management in
  UK public services

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CIPFA Statement on FD Role Approach

• High level - across all public services
• Fit with existing sectoral requirements and
  guidance, but
• need to update existing 2003 Local Government
  statement
• Aim to influence guidance in other sectors and
  internationally
• Substance over form approach
• 5 principles
• Supporting requirements against 3 dimensions

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(No Transcript)
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Principle 1
The CFO in a public service organisation is a key
member of the Leadership Team, helping it to
develop and implement strategy and to resource
and deliver the organisations strategic
objectives sustainably and in the public interest.
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Principle 2
The CFO in a public service organisation must be
actively involved in, and able to bring influence
to bear on, all material business decisions to
ensure immediate and longer term implications,
opportunities and risks are fully considered, and
alignment with the organisations overall
financial strategy
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Principle 3
The CFO in a public service organisation must
lead the promotion and delivery by the whole
organisation of good financial management so that
public money is safeguarded at all times and used
appropriately, economically, efficiently and
effectively
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Principle 4
The CFO in a public service organisation must
lead and direct a finance function that is
resourced to be fit for purpose
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Principle 5
The CFO in a public service organisation must be
professionally qualified and suitably experienced
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Next Steps

• Statement on Role of CFO in Local Government
• 2003 Statement superseded
• Statement on role for police authorities and
  other sectors
• Development of skills to follow

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the role of the chief financial officergroup
discussion
Alison Scott AD Local Government CIPFA
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Public services finance challenges

• Complexity partnerships
• Inspection and assessment
• Integrity and accountability
• Business and transformation leadership
• Economies of scale from centralisation against
  greater devolvement (personalisation,
  participatory budgeting....)
• Variety and scale of public sector
• Increasing efficiency pressures
• Post-election public expenditure cuts..

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CFOs Increasing personal challenges

• CFO / S151 role downgraded?
• Competition with other professional groups
• Technical excellence taken as read
• Broader skill requirements
• leadership
• strategy
• How do you acquire these?
• Where do you get support from / how do you
  develop when you get there?

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Questions/Comments/Thoughts?

• alison.scott_at_cipfa.org