AGA TOPICS Newsletter

CGFM Profile

What's the Definition of the Well-Qualified Federal Financial Manager? 

One thing is certain—the definition is changing. It’s no longer good enough to simply do your job well. Federal employers expect financial managers to have a wide range of knowledge, to be prepared to move from strictly financial functions to decision-making roles.

With the pressing demands of the President’s Management Agenda—financial reports must be produced in a fraction of the usual time and agencies’ budgets must be linked to performance—the role of the financial manager is changing quickly.

In this environment, more and more often, employers are looking at whether financial managers have earned a professional certification. For some, it’s a requirement.

Knowing this, Rosemarie and Dennis Sullivan decided to take the leap and earn their CGFM credential.

“I’ve been thinking about it for a while,” said Rosemarie Sullivan, director of the Office of Financial Reporting and Analysis for the U.S. Department of State. “I was looking across the federal government as a whole, and financial management certifications seems to be something they’re stressing.”

Rosemarie, formerly with the U.S. Department of Interior’s National Business Center in Denver, studied for the three examinations during a break between semesters—she’s earning her MBA—and earned her CGFM last fall just before moving to the D.C. area.

Dennis Sullivan also changed jobs fairly recently, moving from a 15-year career with the U.S. Defense Finance and Accounting Service, to the private sector, as a consultant for Capital City Technologies, which works with the Defense Department in overhauling its financial management systems.

"We’re part of the government community,” Dennis said of his new employer, “so it’s important to me to show the government that we do have commitment to improving financial management.” Having the CGFM helps him build relationships in the field, he said.

Rosemarie took the online course for Examination 1, Governmental Environment. She used AGA’s study guides to prepare for Examinations 2 and 3. She studied every night, but still found the exams to be somewhat more challenging than she envisioned. Since the exams cover financial management at all three levels of government, Rosemarie had to learn the state and local terminology, not having worked in those arenas.

Dennis, also found the exams to be difficult, although there are correlations between the federal and state and local government. The process of preparing for and taking the exams was worthwhile, he said, and he supports others who are thinking about earning their CGFM. “As an individual, it shows that you’re committed to the financial management community and have a desire to improve. It’s really helping build credibility in the entire government work force.”

Rosemarie said she would encourage other financial managers to take the CGFM Exams. “I really think the federal government is leaning toward a more qualified financial management work force and one of the things they’re pushing is certification.” The training and testing gives you a “broad brush view,” she said. “Maybe you won’t have exposure to it now, but in the future you will as we move forward in this financial management transformation.”

Dennis echoed his wife’s thoughts. "Government finance professionals are moving from transaction processing type jobs to more analytical roles, so getting your CGFM helps you move forward that so you as an individual—and the work force at large—are more relevant.”

By: Christina M. Camara