Unit of competency Outline

Date retreived
23/07/2026 3:25 AM AWST

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Perform strategic financial management in the public sector environment

Perform strategic financial management in the public sector environment

Unit of competency
National Code
DEFFIN002
State Code
BBC55
TGA Status
Current
DTWD Status
Approved
Current Release Number
1.00
Current Release Date
17/08/2017
State Implementation and Classification
Approved Date
21/02/2018
Field of Education
081199 - Banking, Finance And Related Fields, N.e.c.
Original Release Date
21/02/2018
Nominal Hours
0
Description
This unit describes the skills required to practice subject matter expertise, and provide strategic financial management advice and stewardship.This unit applies to those working in the public sector Finance Domain who would be required to undertake financial management activities.The skills and knowledge described in this unit must be applied within the legislative, regulatory and policy environment in which they are carried out. Organisational policies and procedures must be consulted and adhered to, particularly those related to financial management.Those undertaking this unit would work independently or as part of a team, under indirect supervision. They must be able to use discretion and judgement and take responsibility for the quality of their outputs. They would perform complex tasks in familiar context.No licensing, legislative or certification requirements apply to this unit at the time of publication.
Notes
Elements and Performance Criteria
1 Practice subject matter expertise
  • 1.1 Research current issues and trends affecting the organisation
  • 1.2 Provide input into the development of financial management policies
  • 1.3 Provide advice on complex financial management issues
  • 1.4 Oversee and guide financial management activities
2 Establish financial management strategies
  • 2.1 Identify and analyse organisational priorities and stakeholder needs
  • 2.2 Develop a plan outlining expected strategies and outcomes
  • 2.3 Develop key performance indicators or targets, timelines and reporting requirements
  • 2.4 Implement processes to ensure that organisational strategies are adhered to
  • 2.5 Identify and document factors that may affect achievement of objectives and targets
3 Manage risks
  • 3.1 Identify potential risks to organisational financial management
  • 3.2 Analyse risks and determine likelihood and potential consequence
  • 3.3 Implement risk management strategies
  • 3.4 Monitor risk outcomes
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State Code National Code Title Type
BDK1 DEF50817 Diploma of Defence Financial Management Qualification