Diploma in Strategic Finance and Analytics

Transcription

1 Diploma in Strategic Finance and Analytics BEING A FINANCE BUSINESS PARTNER Chartered Accountants Ireland Specialist and Executive Education

2 A TECHNOLOGICAL REVOLUTION IS TRANSFORMING OUR WORLD; THE QUANTITY OF DATA CREATED EVERY DAY IS EXPLODING AND THE AUTOMATION OF ROUTINE TASKS IS DISRUPTING TRADITIONAL BUSINESS MODELS. ATTENTION SPANS ARE SHRINKING AND YET EXPECTATIONS ARE GROWING ABOUT THE QUALITY, SPEED AND PRESENTATION OF FINANCIAL INFORMATION. THE DAY OF THE ONE HUNDRED PAGE FINANCIAL REPORT IS WELL AND TRULY GONE.

3 Background Our new Diploma in Strategic Finance and Analytics is designed to equip you to meet the challenges presented by the technological and data revolution head on and to exploit the new and emerging opportunities this is creating. It will build the set of skills required to succeed in one of the fastest growing, most dynamic areas of finance today, as a finance business partner. OBJECTIVES This programme has been designed, following extensive consultation with industry leaders, to develop the critical skills required to kick-start the careers of aspiring finance business partners. It will build on the existing range of skills and competencies gained when training as a Chartered Accountant, layering on additional skills and fine tuning existing ones. Analytical skills the need to accurately diagnose the firm s strategic position and to recommend appropriate responses using business strategy analysis, value chain analysis etc. Commercial skills the ability to influence and win over key stakeholder and colleagues, by using presentation, communication, persuasion and negotiating skills. Whilst maintaining the highest ethical standards. The course will equip participants with a toolkit of techniques and, following completion of the programme, you will be more commercially aware, have gained advanced analytical tools and understand the potential of both Big and Small data to drive business growth. These skills allied with an increased capacity to communicate, influence and persuade will transform participants approach and capability. Why we developed this programme Although a relatively new concept, the demand for finance business partners has grown rapidly as more and more organisations recognise the potential benefits. The evidence is that while demand from industry is growing, the restricted availability of professionals with the skillset required is lagging behind. To help bridge this gap, and fast-track the development of a cohort of people with these skills, we developed this programme. The result is an intensely practical programme which will facilitate accountants moving from audit, financial reporting or other traditional finance roles to working as finance business partners. Equipping them with the in-demand, analytical, commercial and people skills required to operate at the highest levels. ENTRY CRITERIA This course has been designed to meet the needs of professional accountants and is open to members of CAI and other recognised professional bodies including members of ICAS, ACCA, CIMA, CPA, ICAEW and US CPAs (AICPA). Applications may also be accepted on an exceptional basis from others with relevant qualifications and/or experience. See our website for more information about eligibility requirements and how to apply.

4 What is a finance business partner? Communicating & Influencing A finance business partner is an accountant who works closely with a particular business unit and/or with operations and management. Their role is to provide real time commercial and financial insights and analysis, communicating this and adding value to assist decision making. A mix of analytical, commercial and communication skills are required to be a successful finance business partner. 10 QUALITIES OF EFFECTIVE FINANCE BUSINESS PARTNERS: 1. Finance business partners actively influence day to day decisions, shaping strategy and the direction of the business 2. They are the interface or translator between finance and operations 3. They are commercially aware, understand and anticipate the needs of operations and management 4. They have strong core business skills including influencing, stakeholder management and presentation skills 5. Successful finance business partnering is a way of thinking; they identify and solve problems 6. They interpret data, order and assess its value and then present the findings to the relevant stakeholders in a meaningful way 7. They can draw on Big and Small data, selecting the appropriate tools to manipulate, analyse and interpret it in sophisticated ways 8. They must be able to form and stand over their opinions, have a well-developed sense of ethics and are prepared to stand up for these principles 9. They should be comfortable with risk and working with ambiguity 10. They learn from the past but are future orientated Influencing and communication skills are critical; the effective finance business partner is adaptable and can deliver information in a style most appropriate to their audience s needs. The role sees them interpreting the raw data and communicating this clearly especially to their colleagues outside the finance function in marketing, sales and production, a role which puts them at the heart of the business. They take the fragments of data, order them, assess their value and then present the findings to the relevant stakeholders in a meaningful way. In addition, successfully finance business partners must also be able to identify and win over key stakeholders, to build relationships and persuade others in order to achieve their objectives. It is for this reason that we have put the development of these core business skills at the centre of this programme, integrating them into the DNA of the course, as the most effective finance business partners do on a day to day basis. As part of the course you will also complete a MBTI (Myers-Briggs Type Indicator) assessment which will help you better understand your communication style and preferences. There is also an optional EQ (Emotional Intelligence) assessment. DELOITTE SURVEY 91% of Irish CFOs are planning to increase business partnering in their organisations. 28% of Irish CFOs identified talent deficiencies as a roadblock Deloitte Survey Finance business partnering. Making the right move.

5 Tutors Cormac Lucey Cormac is a well known and respected economic commentator and contributor to TV and Radio and is a columnist with the Sunday Times. Cormac holds an MBS from UCD and is a qualified Chartered Accountant. He was formerly Vice-President, Rabobank International Acquisition Finance and finance director of an AIM quoted company, Stentor plc. Cormac has been a consultant on acquisition and disposals for a number of quoted Irish companies and is currently director of the IMI Business Finance programme. Jill Walker Dr. Jill Walker is an organisational psychologist with over 20 years experience delivering leadership, management development and personal development courses. Jill began her career as a management consultant with Accenture before starting her own business People Potential, where clients have included Glanbia, LinkedIn, Google, RCSI and HSBC. Jill is a frequent contributor to TV, Radio and Newspapers and lectures on the Trinity College MBA programme. Bill Emerson Bill is a consultant, lecturer and one of Ireland s leading researchers in analytics, big data and database design. Bill has almost 20 years experience working in the multinational hi-tech, financial services and education sectors and is a lecturer with UCC and the IMI. The programme will also involve a number of guest speakers who will share their professional experience and insights.

6 Structure There are six modules in this programme that typically run over six months (see the website for full timetable). It is available by classroom, in Dublin, and by distance study, meaning it can be accessed from anywhere in the world. Assessment There is no exam; instead participants will complete a number of home assignments and deliver a final presentation. These assignments will simulate typical pieces of work conducted by finance business partners, requiring participants to demonstrate their technical competence and capability to use the core business skills, such as influencing and stakeholder management. You will also be required to complete brief reflections following the modules dealing with communicating, influencing and presenting. Here you will be asked to show how your thought process has developed and how your approach will change as a result. FINAL ASSESSMENT The final assessment will comprise a practical analytical assignment, ideally with relevance and applicability to the participants own professional environment, delivering real world insights and benefits to them and their organisation. The assignment will involve them showcasing the full range of finance business partner skills including analytical, commerciality, influencing and presentation skills. DISTANCE STUDY: Distance study participants are supported by our Moodle Learning Management System (LMS) a flexible online tool that supports flexible learning Enjoy 24 hour a day access to our recorded video lectures which guide you through the course step by step Lectures are accompanied on Moodle by downloadable slides and back up materials, meaning you get to study at your own pace You will have access to dedicated online forums where you can engage with other participants You have a facility to questions to our course tutors Pass mark is set at 50% with distinction achieved at 70%. Members of Chartered Accountants Ireland will be awarded their Diploma by Chartered Accountants Ireland under the 1966 ICAI Charter Amendment Act. Other Professionals will be awarded their Diploma by our training subsidiary Chartered Accountants Ireland Executive Education Ltd. CPD HOURS This programme offers significant structured and unstructured CPD. The exact number of hours will vary for each individual depending on attendance/engagement, home reading of the materials and completion of the assignments. This will involve the submission of a written assignment and the delivery of a presentation, delivered in person or virtually, based on the contents of the report to a panel of examiners, followed by a short Q&A session. ALLOCATION OF MARKS Type Number of When % activities Home assignment 1 Module 3 30% Learning log 3 Module 1/3/4 10% Final written assignment 1 Post Module 6 40% Final presentation on assignment 1 Post Module 6 20%

7 Course Content Module 1.1 INTRODUCTION AND STRATEGIC CORPORATE FINANCE Enterprise value and its significance in corporate finance Business risk, financial risk and the cost of capital Cost of capital, return on capital employed and shareholder value added The impact of business strategy on shareholder value added The application of business strategy and ABC analysis in business restructuring The impact of the business cycle and the asset price cycle on asset returns Module 1.2 COMMUNICATING EFFECTIVELY Understanding & communicating effectively with different types of people Adapting your approach in order to get results Asserting yourself without upsetting others MBTI - Individual personality assessment Module 2.1 STRATEGY ANALYSIS The financial manager as coach Managing ambiguity and change Corporate finance basics adding value versus subtracting value Business strategy analysis Value chain analysis Determining corporate strategy Module STRATEGIC COSTING Activity based costing Enterprise resource planning Life-cycle costing Target costing Enterprise resource planning Value chain analysis Pricing for advantage Module STRATEGIC COST ACCOUNTING Key performance indicators (KPIs) and the Balanced Scorecard and Strategic benchmarking Enterprise resource planning and Activity-Based-Costing (ABC) analysis Analysis as a tool to solve problems/make better decisions Financial planning, modelling, forecasting and variance analysis Analysis of costs, margins, product mix, etc. Module 3.1 BUDGETING & STRATEGIC PLANNING Being clear on your business case and confident in it Financial planning & trend analysis Forecasting & budgeting and phasing Capacity planning Capital expenditure Analysis of order backlog, book to bill ratio etc Module 3.2 INFLUENCING KEY PEOPLE Building your influencing tool-kit - getting buy in 4 step influencing model The psychology of persuasion Influencing practice & feedback Using social & emotional intelligence (EI) to get results Emotional Intelligence assessment

8 Module 4.1 STRUCTURE, STRATEGY & ORGANISATION Structure & strategy Capacity planning - management of staff, getting the right balance between staff and contractors Design effective partner strategy balancing sales imperatives with financial constraints Incentives - designing remuneration systems to accord with strategic objectives Business restructuring Financial restructuring Module 4.2 PRESENTING PERSUASIVELY Building credibility as a business leader Presenting financials in a meaningful way Delivery that connects, engages & gets results Selling yourself & your message Presentation practice & feedback Module 5.1 THE DATA REVOLUTION Understanding analytics from descriptive to predictive Key drivers of adoption Analytics maturity level 6 levels, from business user to statistical expert Predictive modelling techniques Data scientists who they are, what they do and why we need them Module 5.2 ANALYTICS IN ACTION Balancing art and science in decision making Building advanced analytics capabilities Managing your company with real-time analytics Comparing big-data v s small-data approach to data analysis When analytics fail Exploring supply chain and marketing analytics Module 6.1 CAPSTONE AND KEY TRENDS Introduction to corporate risk management Designing remuneration systems to accord with strategic objectives Supply chain analysis, outsourcing and the make/buy decision How to reorganise to really cut costs Joint ventures and strategic partnerships Acquisition and divestiture decisions Module 6.2 TRANSFORMING THE FINANCE FUNCTION, HOW TO REDESIGN FINANCE Where to begin Winning over the key stakeholders Building the team and capability Fees Fees are inclusive of exam registration and course materials. Members of Chartered Accountants Ireland receive a discount on course fees. Classroom course Member: 2925 Non-member: 3250 Distance course Member: 2295 Non-member: 2495 Full payments must be received or payment methods agreed by the start of Module 2. Cancellations must be received in writing before the course start date. No refunds are due once the course has commenced. Multiple bookings by a single employer will qualify for a discount of 10% for the second and subsequent booking.

9 This form should be completed and returned to: Linda McGee, Learning & Development, Chartered Accountants Ireland, Chartered Accountants House, Pearse Street, Dublin 2. Telephone: (1) Fax: (1) bookings@charteredaccountants.ie APPLICATION FORM Diploma in Strategic Finance and Analytics Section 1 Personal Details (Please note the details you provide in this section will be then used as your correspondence address throughout the course) Name Address for Correspondence Contact Telephone Number Contact address Chartered Accountants Ireland membership number Other Professionals (please state your accounting qualification e.g. ICAS ACCA, CIMA or equivalent qualification*) *In the case of non CAI members, proof of membership will be required from the participants own membership body Section 2 Employment Details Company Name Job Title Company Address Company Phone number Company If you do not wish for your name and company to be included on the participant list circulated to the class tick here Please send me further details regarding courses provided by Chartered Accountants Ireland Section 3 Payment Details Is your company paying your qualification fees? No Yes (if yes we will raise the invoice against the company details provided in section 2) Classroom Course: CAI fee: 2,925 Non-Members fee: 3,250 Self Study: CAI fee: 2,295 Non-Members fee: 2,495 Credit Card Debit Card Cheque **Instalments PO Number If paying by card please fill out the below: Card Number Expiry date CCV Signature of Cardholder ** The Instalment payment option will allow participants to spread the cost of a Diploma over three payments, with the first payment being charged at registration stage, and then remaining payments being charged to a debit/credit card on set dates. Cancellation Policy Unless you have entered into an instalment agreement full payment will be required on or before course commencement. Cancellations must be received in writing at least two weeks before the course start date, no refunds are due once the course has commenced. Multiple bookings by a single employer will qualify for a discount of 10% for the second and subsequent bookings. Data Protection Please be advised that your personal information will be processed in accordance with the Data Protection Acts 1988 and The financial information will only be used for the purposes of processing this booking. Programme Disclaimer All information in this brochure is correct at the time of printing. If unforeseen circumstances occur, Chartered Accountants Ireland reserves the right to change the programme. The course materials and content are prepared for the continuing development of participants and while trusting that it will be useful for this purpose, Chartered Accountants Ireland cannot warrant that the use of this material would be adequate to discharge the legal or professional liability of participants in the conduct of their practice or business operations.