Finance Professionalism

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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 in 2006 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?

"As the economic climate in which we operate becomes increasingly demanding we are under growing pressure to deliver the government’s priorities efficiently and effectively within a framework of good governance and value for money…Our objective is to radically increase the number of qualified Finance Professionals in all delivery areas"

Dame Mary Keegan - Former Head of the Government Finance Profession

How will the Fast Stream benefit from an accountancy qualification?

"I strongly recommend the Fast Stream finance option to the ambitious and numerate. A finance qualification will be of significant and increasing assistance in many jobs, enhancing both your choices and chances of fulfilling your potential"

Nicholas Holgate - Finance Director, Department for Culture, Media and Sport

”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 - Constitution Director, Department for Constitutional Affairs

The attached PDF file provides a brief introduction to the current pilot scheme and confirms who is eligible to apply.

For details of the 2008/9 Finance Option timetable

For a copy of the nomination form

Further information on the “in service” Finance Option can be gained from the Head of Finance Professionalism (HOFP) in your department or David Smith HM Treasury by email at david.smith2@hm-treasury.gsi.gov.uk or by phone on 020 7270 6181.

More general information on the “in service” Fast Stream Programme can be gained on the Cabinet Office website or via your departments Fast Stream Grade Manager in Human Resources Directorate.