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Want to Make a Difference? Consider a Career
in Government Financial Management
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What is a government financial manager (GFM)?
GFMs oversee the preparation of financial
reports, direct investment activities, and
implement cash management strategies for federal,
state and local government. Financial managers
perform tasks unique to their organization or
industry. For example, government financial
managers must be experts on the government
appropriations and budgeting processes. Moreover,
financial managers must be aware of special tax
laws and regulations that affect their industry.
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Typical GFM Duties Titles

• The duties of financial managers vary with their
  specific titles, which include controller,
  treasurer or finance officer, credit manager,
  cash manager, and risk and insurance manager.
• Controller
• Treasurer
• Finance Officer
• Cash Manager
• Credit Manager
• Budget Analyst
• Auditor

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GFM Position Title Definitions
Controllers direct the preparation of financial
reports that summarize and forecast the
organizations financial position, such as income
statements, balance sheets, and analyses of
future earnings or expenses. Controllers also are
in charge of preparing special reports required
by regulatory authorities. Often, controllers
oversee the accounting and budget departments.
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GFM Position Duties
Treasurers and finance officers direct the
organizations financial goals, objectives, and
budgets. They oversee the investment of funds and
manage associated risks, supervise cash
management activities, execute capital-raising
strategies to support a agencys expansion, and
deal with mergers and acquisitions.
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GFM Position Duties
Auditors are responsible for conducting financial
and performance audits of all public and
quasi-public entities as required under law. The
Auditors Office reviews the methods, accuracy,
and legality of the accounts, financial reports,
records, files, and reports of the government
agency and determines if the entity has complied
with the laws, rules, ordinances, and orders
pertaining to the agency. Performance audits also
contribute to governments accountability for the
use of public resources and the delivery of
services.
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What is it like to be a GFM?
Working as a government financial manager, I
have always felt that my job matters, and that I
have been given meaningful, high-level work. I
honestly do not feel I would have gotten this
much opportunity anywhere else, and I would not
trade my experience for anything. - Renay
Ringo Indiana University
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What is it like to be a GFM?
I started with the Defense, Finance and
Accounting Service (DFAS) right out of college
and have not regretted my choice! From process
productivity studies to internet-based target
marketing, I have always felt that the work I do
is important and appreciated.  Best of all, I
know I am serving a purpose that is higher than
that of your average finance job - I am working
for the men and women who protect our country.
- Kristin Winn
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Training, Qualifications Advancement

• A bachelors degree in finance, accounting,
  economics, or business administration is the
  minimum academic preparation for financial
  managers.
• A masters degree, preferably in accounting,
  business administration, economics, finance, or
  risk management.

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Continuing Education for GFMs
Continuing education is vital for financial
managers, who must cope with changes in Federal
and State laws and regulations, and the
proliferation of new and complex financial
instruments. Agencies often provide opportunities
for workers to broaden their knowledge and skills
by encouraging employees to take graduate courses
at colleges and universities or attend
conferences related to their specialty.
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Obtaining Professional Certifications
Financial managers also broaden their skills and
exhibit their competency by attaining
professional certification. There are many
different associations that offer professional
certification programs. For example, the
Association of Government Accountants (AGA)
confers the Certified Government Financial
Manager (CGFM) designation on GFM professionals
who have a bachelors degree, pass three
examinations, and meet work experience
requirements.
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What Skills Do You Need to Be a GFM?

• Persons planning a career in accounting should
  have an aptitude for business mathematics and
  statistics and be able to analyze, compare, and
  interpret facts and figures quickly. They must be
  able to clearly communicate both written and
  verbally the results of their work to clients and
  managers.
• Accountants and auditors must be good at working
  with people, as well as with business systems and
  computers. At a minimum, accountants should be
  familiar with basic accounting software packages.
  
• Because financial decisions are made based on
  their statements and services, accountants and
  auditors must have high standards of integrity.
• Source U.S. Department of Labor - Bureau of
  Labor Statistics

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Employment

• Accountants and auditors held about 1.1 million
  jobs in 2002. They worked throughout private
  industry and government, but 1 out of 5 wage and
  salary accountants worked for accounting, tax
  preparation, bookkeeping, and payroll services
  firms.
• Many accountants and auditors are unlicensed
  management accountants, internal auditors, or
  government accountants and auditors however, a
  large number are licensed Certified Public
  Accountants. Most accountants and auditors work
  in urban areas, where public accounting firms and
  central or regional offices of businesses are
  concentrated.
• Source U.S. Department of Labor - Bureau of
  Labor Statistics

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Job Outlook

• Employment of accountants and auditors is
  expected to grow about as fast as the average for
  all occupations through the year 2012. In
  addition to openings resulting from growth, the
  need to replace accountants and auditors who
  retire or transfer to other occupations will
  produce numerous job openings in this large
  occupation.
• Increased need for accountants and auditors will
  arise from changes in legislation related to
  taxes, financial reporting standards, business
  investments, mergers, and other financial
  matters.
• Source U.S. Department of Labor - Bureau of
  Labor Statistics

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Compensation

• Salary Ranges from 34,149 to 162,100
• - Within Grade Step Pay Increases
• - Annual Cost of Living Adjustments
• Benefits
• - Leave and Holidays
• - Awards Bonuses
• - Employee Development
• - Retirement Plans
• - Health, Life Long Term Care Insurances
• - Recruitment, Relocation, and Retention
  Incentives
• - Internal Promotion Priority
• - Student Loan Repayment Program
• - Flexible Work Schedules, Telework
• - Employee Assistance Programs
• 2005 Federal General Schedule to Senior
  Executive Service
• Source U.S. Department of Labor - Bureau of
  Labor Statistics

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How do you stay connected as a GFM industry
professional?

• AGA Connects You With
• Networking Opportunities
• Education and Training
• Professional Certification
• Professional Development
• Standards and Research

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The Value of AGA Membership

• Networking Opportunities
• Being a member of the only association
  representing all the disciplines in government
  financial management
• Knowing leaders in government financial
  management profession
• Interaction with peers and colleagues

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The Value of AGA Membership

• Education and Training
• National Conferences
• Professional Development
• National Leadership
• Performance Reporting and Accountability
• Audio Conferences
• Government Financial Management Training

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The Value of AGA Membership

• Education and Training
• Local Chapter Events
• Professional Development Conferences
• Seminars
• Workshops
• Monthly Meetings

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The Value of AGA Membership

• Education and Training
• Government Financial Management Courses
• Academy for Government Accountability
• Journal CPE Online
• Internet Courses
• Self-Study Courses
• Early Career Center

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The Value of AGA Membership
Professional Certification - Certified Government
Financial Manager (CGFM) CGFM provides the
only certification specifically designed for
financial management professionals working in and
for government
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The Value of AGA Membership

• Professional Certification - Certified Government
  Financial Manager
• To Become Certified
• Education
• Experience
• Examination

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The Value of AGA Membership

• Professional Certification - Certified Government
  Financial Manager
• To Stay Certified
• Adhere to AGAs Code of Ethics
• Obtain 80 CPEs every 2 years
• Stay current with your dues

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The Value of AGA Membership

• Professional Development
• Building leadership skills
• Developing communications skills
• Access to individuals working at governments
  highest levels
• Learning methods and techniques used by other
  financial managers to solve work-related problems
  and challenges
• Using your unique financial management skills
  for community service activities
• Receiving professional recognition by peers and
  colleagues
• Access to job opportunities through AGAs FREE
  online Career Center

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The Value of AGA Membership

• Standards and Research
• Making contributions to the profession by
  commenting on government financial management
  standards
• Conducting and publishing research on government
  financial management

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Ready to Begin? Let AGA help you become a
government financial manager www.agacgfm.org/tom
orrow