2013/14 Fast Stream Finance Option Recruitment Scheme
The Government spends £500 billion annually, owns £700 billion in assets and public sector as a whole accounts for around 40% of GDP spend. Evidence however shows there to be significant challenges ahead in raising the profile of financial and performance management across the civil service and specifically embedding financial management within Policy, Operations and Corporate Services functions as well as the traditional Finance Function. With the introduction of the Professional Skills for Government agenda, and specifically the increased focus on the requirement for financial management skills for all senior civil servants staff across government, the Government Finance Profession, along with Finance Directors and Cabinet Office have introduced a “Finance Option” for the Fast Stream recruitment programme
The Finance Option was introduced to provide an opportunity for Fast Streamers to study for a professional accountancy qualification. It is a competitive opportunity open to existing Fast Streamers, those applying for the In-Service Competition, and existing trainee Finance Professionals who pass the Fast Stream assessment centre.
Why are Fast Streamers being encouraged to study for a professional accountancy qualification?
"With the current unprecedented fiscal pressure, the public sector needs to take action to ensure cost effective public services continue to be delivered. Embedding strong financial management is a vital part of this and critical to departments being able to work effectively within their spending settlements. Where it works well it provides information needed for effective and informed decision making, helps drive performance, maximises the efficient use of resources and ensures transparency and accountability of public funds. The need for qualified, highly skilled, financially literate policy makers and leaders, across the Civil Service is, therefore, increasingly important."
Richard Douglas - Head of the Government Finance Profession
How will the Fast Stream benefit from an accountancy qualification?
"The Finance Option offers Fast Streamers an excellent opportunity to develop the skills and experience that we increasingly need at the highest levels of government"
Mark Lowcock, Permanent Secretary, Department for International Development
”Being professionally qualified has enhanced my credibility in dealing with other Finance Professionals. In a world where professional qualifications are increasingly expected and demanded, the fast-stream finance option has to be a winner.”
Clare Moriarty - Director General, Corporate Group, Department for Transport
Details of the scheme and application process
The attached PDF file provides a brief introduction to the current scheme and confirms who is eligible to apply.
For details of the 2013/14 Finance Option timetable
For a copy of the Expression of Interest
Further information on the “in service” Finance Option can be gained from the Head of Finance Professionalism (HOFP) in your department or from Jennifer Pearce, HM Treasury by email at jennifer.pearce@hmtreasury.gsi.gov.uk or by phone on 020 7270 5577.
More general information on the “in service” Fast Stream Programme can be gained on the Cabinet Office website (http://www.cabinetoffice.gov.uk/resource-library/civil-service-fast-stream-report or via your departments Fast Stream Grade Manager in Human Resources Directorate.
Related Links:
Civil Service Fast Stream
Professional Skills for Government
Accountancy Institutes Student Guidance:
Examples of numeracy tests and questions:
Example questions can be found at:
http://www.shldirect.com/numerical.html
A full practice (numeracy) test can be found at:
http://www.shl.com/tryatest/takeatest/pages/takeatest-english.aspx