Assessment

Finance Assessment Model for Effectiveness (FAME)

Your accounting and transactional processes are

Accurate and Timely for period-close

Systems and data flows are automatable

Cross functional systems provide integrated enterprise wide data source

Best practices and continuous improvement in transactional processes

Integrated technology and digital solutions in existence

Please mark all statements that apply.

Your Controllership and Financial Reporting meets the following criteria

Accurate, complete & timely execution of transactions

Implements new or updated acounting control and reporting requirements

Manages and Controls both financial and non-financial risks

Drives implementation of changes in regulations related to reporting and financial controls

Fosters culture of openness and financial transparency

Please mark all statements that apply.

Your Planning & Analysis function is described by the following

Financial planning, budgeting and forecasting meets group policies

Provides input for strategic business using financial and non-financial data

Aligns investment evaluation, post-investment appraisal processes to strategic goals

Performance tracking against goals is provided in real time

Deploys predictive analytics tools and models

Please mark all statements that apply.

Characteristics of your Reporting & Insight generation

There are robust discussions and reporting on the operating and financial performance

Lead business performance reviews leading to course correction

Drive continual improvement in reporting and analytical tools

Have implemented data visualization and tools for self-service

Have developed tools collaboratively with the business across the enterprise reporting platforms

Please mark all statements that apply.

What is the strategy process best described by

Strategy is clearly communicated and understood across the board

Everyone understands their own role in achieving strategic goals and Roadmap is in place and is reviewed regularly

Strategy is co-created with other functions to ensure alignment and drive synergies

There is robust governance around strategy to ensure proper alignment with new market insight and data

Finance drives the development, review and refresh of organizational strategy

Please mark all statements that apply.

ESG

Limited ESG Strategy in place with a compliance based approach

Fit for purpose ESG Strategy in place that focuses on risk management

Strategy is co-created with other functions to ensure alignment

Science-based targets and ESG integrated into main finance strategy

ESG objectives are integrated into performance management and reward structure

Please mark all statements that apply.

What is the state of stakeholder management

There is ongoing cross-functional stakeholder management through informal networks

Formal stakeholder management routines are in place

Stakeholders are actively managed from strategy through to implementation

Stakeholders are actively coached on importance of financeial control, planning, risks and decision criteria

Stakeholders are increasingly self-sufficient due to strong faith in Finance numbers and analysis

Please mark all statements that apply.

What are the project and change management capabilities in place

Limited, formal change or project management processes and standards in place

Generic change & project management processes used; no Finance-wide standards in place

Successful cross-functional projects/change initiatives undertaken and networks in place to share best practice

Standard approach to projects which are formally documented and widely available

Decisions on projects/change made using performance data enabled by integrated systems and/or reporting

Please mark all statements that apply.

What is the state of the systems and tools at the disposal of Finance

Primarily focused on integration of systems and maintenance

Reliance primarily on leveraging 3rd party expertise for digital solutions

Core processes are increasingly digitally enabled with basic tools

Digitally enabled Core with best-in-class systems and tools

Digital transformation is now firmly established with metrics in place

Please mark all statements that apply.

How is data organized, used and leveraged

Data is used for reporting with manual feeds and is inconsistent

Data is widely used in decision making with good data quality

Shared cross-functional data with a single source of truth

Data driven organization with Robust data underpinning all decisions

Finance owns and manages finance data and is leveraging data from a variety of sources

Please mark all statements that apply.

What is the state of Automation

Ad-hoc automation on an as-needed basis with no automation roadmap or budget

Automation is used to address problem areas and improvements with some investment/budget

Finance is an advocate of automation and Best practice automation is accessible

There is enterprise-wide use of Finance automation tools

Automation is adaptive to business needs

Please mark all statements that apply.

State of readiness of the organization for digital transformation

There is limited understanding and focus on digital enablement

Basic understanding of digital assets with limited centralization of digital teams

Strong understanding of digital assets across the enterprise and digital transformation team in place

Advanced efficiencies delivered from digital adoption

Ready to adapt to ongoing digital change

Please mark all statements that apply.

What is the mindset & Capability of Finance

Basic leadership capability framework is in place with leadership learning available

Leadership strategy in place to develop good leaders (with good being well defined)

Other functions value leadership out of finance, cross-functional and peer-peer mentoring in place

Leadership is strategic, innovative and decisive and developing capabilities for next step up

Leaders have mobility across the organization and are sought after internally and externally

Please mark all statements that apply.

What is the culture of performance and results

Leaders take accountability for decisions and the culture of the organization

Leaders are confident in giving clearfeedback and open decision-making is in place

Leaders identify and develop cross-functional synergies and opportunities with high cross-functional alignment

Leaders have built resilient teams and team-leaders actively nurturing a positive culture

Leadership is purpose led, connecting to what matters most and have influence across the organization

Please mark all statements that apply.

How effective is Development and Coaching

Established performance management in place and development of others is in leader's own performance objectives

Formal coaching and mentoring is in place and development is seen as a critical part of performance conversation

Development is prioritized in performance conversations and leader acts as coach

External coaches and mentors are available to support development with career development plans in place

Leaders build their own succession pipelines and are aligned cross-functionally

Please mark all statements that apply.

What is the status of relationships & Alignment

Leadership networks in place within functions

Leadership networks in place across the whole organization

Cross-functional knowledge sharing across leadership groups is the norm

Leaders are acting as stewards for the entire business as a whole

Leaders recognize that the development of others is central to their success

Please mark all statements that apply.

How effective is Talent Acquisition & planning

Basic workforce planning in place, consistent recruitment and onboarding process in place

There is a consolidated talent plan across Finance

There is recognition internally for recruitment and onboarding process and internal talent is identified

Finance talent is actively sought by rest of organization to support strategic activity

Ability to identify and acquire an outstanding, diverse talent pool to deliver strategic objectives

Please mark all statements that apply.

What are the career development opportunities & approach

Basic/Vertical career path structure in place with clearly defined roles and responsibilities

Active talent retention strategy and capability framework is in place

Formal career paths in place to allow/promote cross-functional moves

Career lattice approach adopted with individual career paths co-created with leaders

Career development is flexible, dynamic approach and recognized as key reason to join

Please mark all statements that apply.

What skills & capabilities

Clearly defined roles & responsibilities in place across finance and standard learning related to individuals' role is in place

Robust capability framework is in place with standard career paths clear from day 1

Mobility is seen as key factor in talent retention and Career discussions are given equal weight to performance

Full capability framework is in place, career paths accommodate external mobility

Career development is recognized as reason to join the organization

Please mark all statements that apply.

What are the criteria for performance & recognition

Basic annual review performance process is in place with financial rewards

Performance data is used to identify and recognize key talent

Performance insight is shared across other functions to glean actionable trends

Performance management is seen as a continuous, ongoing process

Best talent is being attracted via a market-leading reward and recognition program

Please mark all statements that apply.

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