Gordon Wales Chief Financial Officer Scottish Government
Today’s agenda • How I arrived where I am • Government, and my role • How I spend my time • Main challenges in the role • What I’ve learned (and why I will never stop learning) • Some thoughts about change, leadership and managing your own careers • Q&A
About me………
Fiscal Boundary ‘Group’ Level Executive Core Scottish Government Agencies c115 32 22 Health Boards/Bodies Public Bodies Local Authorities Annual Budget Fixed Assets Taxpayers Equity £41 bn £29.7 bn £32.6 bn
Scope of the CFO role Financial Management & Operations Commercial & Procurement Public Pensions Agency Head of the Finance Profession
Covering the bases • Scenario and direction planning Strategy • Financial/investment/intervention decisions • Matching funding with delivery • Organisational culture and attitude to value Provoking Change • Business partnering • Continuous improvement • Efficiency/effectiveness of process and systems Operational • Commercial and procurement Delivery • Financial performance management and scrutiny • Accounting, reporting , control and compliance Stewardship • Financial risk management and mitigation • Asset and liabilities management
2015-16 Budget Composition vast majority of funding through block grant historically… 2016-17 …significantly reduced by end of decade. 2017-18 Scottish Rate of Income Tax VAT assignation through 2012 through 2016 Act Act 2018-19 full income tax through 2016 Act Block Grant RDEL 2019-20 Block Grant CDEL Income tax (SA12) Income tax (SA16) VAT (SA16) LBTT (SA12) SLFT (SA12) Non-cash DEL FTs Borrowing
The shifting landscape Powers Risks
Institutional Landscape European new bodies created or Court of Auditors appear in landscape for Scottish Fiscal Scottish first time as fiscal Commission Parliament devolution increases Audit Rating Scotland Agencies core relationships for financial control at point of devolution Revenue Bank of SCOTTISH GOVERNMENT Scotland England Ombudsman, HMRC Standards, Regulation European HM Treasury Investment Bank earlier weak ties ONS / strengthen and Eurostat deepen
Managing Change and Uncertainty Business of today Known change of tomorrow Culture and capability for the unknown
Growing that culture and capability • Accessible, with • Effective, • Passion for appropriate efficient & delivering feedback accountable outcomes • Clarity of roles • Professional, • Flexible and in organisation inclusive & adaptable knowledgeable • Valuing • Systems and diversity in the • Values-based process that workforce leadership simplify Open Capable Responsive
Around the Board table • Have a view. On everything • Judgement, not opinions • Visibility • Focus on being respected, not liked • Extend your brief • Use your NXDs • When your integrity goes………
Managing Yourself Feedback Networks Skills Resilience
Q & A
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