The Finance Professionals Capability Set consists of seven capabilities that define knowledge, skills and abilities required for finance roles.
The seven finance capabilities are:
- Financial Strategy, Governance and Risk Management
- Financial Accounting and Statutory Reporting
- Management Accounting
- Audit and Assurance
- Finance Operations and Systems
- Finance Business Partnering
The capability set works in conjunction with the NSW Public Sector Capability Framework that applies to all public sector roles. Most finance roles require all the capabilities in the Capability Framework (at an appropriate level) including the People Management capabilities for roles responsible for managing others.
The number of capabilities from the Finance Professionals Capability Set that apply to a finance role will depend on the breadth and nature of its accountabilities. Generally, not all seven capabilities are expected to apply.
Together, the capabilities from the Capability Framework and the Finance Professionals Capability Set are used to support:
- role design and description
- performance development
- learning and development, and
- workforce planning.
Roles that belong to the finance profession usually do not require specialised capabilities from any other occupation specific capability set.