Federal News Network: 7 ways to modernize the federal financial workforce

“’I can remember when I was starting out my career, 30 years ago there’s a big push to get accountants in the government and get CFOs set up to get financial statement audits,’ said Mike Wetklow, deputy CFO at the National Science Foundation, in an interview with Federal News Network. ‘I’m a proud accountant. But accounting alone is not going to help you with your career. You really need a mix of skills. You need to be ready to diversify yourself [to] learn different things. We’re just so much more than accounting and reporting. There’s a lot of systems work, there’s a lot of technology performance, risk management and supporting our leaders with decision making.’

For these reasons and so many more, the CFO Council released a new workforce strategy to help reimagine the federal financial management workforce.

The new plan lays out seven objectives to ensure financial managers are successful today and in the future…”

“[Steve Kunze, the deputy CFO at the Commerce Department, who led the CFO Council working group along with Wetklow and others] said the working group came up with these seven strategic goals with help from the Office of Personnel Management, which provided facilitated advice to create a strategic foresight methodology.

‘This is a very structured approach. What we did is we looked at what were the major drivers of change in our financial management workforce,’ he said. ‘We looked at different scenarios that could potentially play out like what would the future of financial management look like with data and technology driving that to varying degrees. The seven objectives or strategic goals are all focused on leveraging data, leveraging the skill sets of our current workforce and making sure that we are attracting that workforce of the future.’

Kunze added compliance will remain important, but it will not drive the financial manager’s day like it may do currently.

The strategy also is clear that the focus isn’t just on new employees, but ensuring the current financial management workers are reskilled or upskilled to provide that ‘higher value’ work…” Read the full article here.

Source: 7 ways to modernize the federal financial workforce – By Jason Miller, May 21, 2021. Federal News Network.

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