Reimagine Finance

Paper: Re-inventing finance for a digital world

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This white paper tells the story of our research:

• To understand the future needs of businesses and employers globally in a digital world.
• To gain insight into the finance function in a digital world.
• How new competencies for finance professionals are emerging in a digital world.

CGMA Competency Framework

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The CGMA Competency Framework is designed to help management accountants and their employers understand the knowledge requirements and assess the skills needed for both current and desired roles. The framework is underpinned by the need for objectivity, integrity and ethical behaviour, and includes a continuous commitment to acquire new skills and knowledge. The CGMA Competency Framework is the foundation that will demonstrate the relevance and capabilities of a CGMA designation holder as a trusted finance and business strategist.

The CGMA Competency Framework was developed through three phases of research: face-to-face interviews, round tables and an online survey. The participants ranged from finance and non-finance staff in mid to senior levels, covering diverse industries from both the private and public sectors.

CIMA Professional Qualification

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CIMA’s objective in designing the syllabus is to enhance the employability of students and members. It intends to create a learning system that enables students to acquire skills, competencies and mindsets that are in high demand by employers. This has never been more important with the pace of change increasing and traditional roles being redefined by technology and digital advances.

The Professional Qualification comprises three pillars of domain knowledge divided into three levels of achievement. The pillars are Enterprise, Performance and Financial. The levels are Operational, Management and Strategic. When combined with the required practical experience, CGMA designation holders will be capable of supporting and leading their organisations through the challenging environment of constant change.

Digital Mindset Pack

CGMA Store

Get resilient and ready with the insights and skills needed to flourish in a dynamic and rapidly evolving business landscape with the Digital Mindset Pack, available exclusive to CIMA members.

Harnessing the Associations future-focussed product range from blockchain to robotics to artificial intelligence, the future-ready bundle will ensure you lead the transformation.

Valued at £225, the CGMA future-ready bundle is available to you free of charge as part of 2021 membership subscription. Use promo code MINDSET21.

Changing competencies and mindsets

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This emerging theme from our research:

• explores how technological automation is shifting the competency skills set required by finance professionals
• introduces the concept of a growth mindset
• demonstrates the increasing need for us all to learn and relearn continually, as new technologies replace our timeworn skills and knowledge

The changing shape of the finance function

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This emerging theme from our research:

• explores how and why the shape is changing
• explores how service areas within the finance function are evolving
• explores the changing skills sets of finance professionals

Changing technology and finance

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This emerging theme from our research:

• sets out the current technological tools you need to be aware of that are disrupting the finance function
• focuses on the impact that these tools, individually and in combination, are having on the finance function
• explores how technological automation is shifting the skills requirement of the finance professional
• profiles the types of organisations that, typically, are early adopters of technology
• reintroduces the CGMA horizon scanner, a tool you can use to predict when new disrupting technologies will impact your organisation and its finance function

The changing role and mandate of finance

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This emerging theme from our research:

• explores the basic activities that are the essential DNA of every finance function
• explains the broad roles within the finance function
• explores how the finance function must transform in order to meet the changing mandate