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Statement of Strategy Update Mr. John A. MoranJoint Committee on Finance, Public Expenditure & Reform November 201212Overview

Mission Statement

Our Goals

New Organisational Structure

Key Areas of Focus

3Mission Statement

The Departments mission is to manage Government finances and play a central role in the achievement of the Governments economic and social goals having regard to the Programme for Government. In this way we will play a leadership role in the improvement of the standards of living of our citizens.

Intro including background on the Department, Statement of Strategy and the Split from DPER34Our Goals

A resilient Irish economy founded on sustainable and balanced growth and leading to significant increases in employment numbers.A sustainable macroeconomic environment and sound public finances.An improvement in the living standards of our citizens.Return by Ireland to international debt markets so as to achieve an exit from the EU/IMF funding programme at the earliest possible date.Completion of the restructuring of the banking system and a vibrant, secure and well regulated financial sector.45Reaching Our GoalsProviding independent, impartial and well informed advice to the minister and GovernmentAdvising on and implementing, policies that will ensure a robust financial systemProviding advice in the interests of society as a wholeOur Guiding Principles EquityPartnershipLeadershipChallengeIntegrity6Secretary General

Financial OfficeInternationalFinancial ServicesFiscalEconomicCorporate OfficeGG AccountingExchequer AccountingHRRisk /ComplianceEU PolicyPresidencyIMF/OECD/IFIsProgrammeInternational RelationsBankingFinancial ServicesInsuranceFundsSMUTax PolicyBudget PolicyBudget CoordinationStrategyForecastingAnalysisMicro-UnitExecutiveCommunicationProgrammeChange Management

Overview of Department Structure

Explain the 4 policy areas and the two support areas67Key Areas of FocusHighlight that these are the key focus areas for the Department78Departmental GovernanceKey DevelopmentsImprovements to MAC agendaNew reporting mechanism to streamline discussionsReporting published on intranet to support information sharingWeekly policy challenge sessionsLocal challenge sessions at divisional levelImproved business planningStronger Audit Committee with more senior appointments from the DepartmentSample MAC Agenda

89More Outward Focused DepartmentKey Developments

Significantly increased our interaction with other TreasuriesEnhanced EU and International team to build links with industry and governments.Developed a network of contacts in Department of Foreign AffairsThe Secretary General has held more than 400 external meetings since March 2012Including meetings with Industry, Education sector and other GovernmentsPlayed an active role in foreign trade missions.

Sample external eventSample trade mission

10Robust Economic AnalysisKey DevelopmentsIncreased resources in Economic areasEmbedded resources with Economics experience in other divisionsGreater involvement in Economic analysisIncreased Economic analysis and the production of relevant material.Focus on Economic policy to grow the economy supported by external expertise

Sample Economic Output11Supporting all of GovernmentKey DevelopmentsPlaying a central role in Cross-Departmental challenges;e.g. Mortgage ArrearsStrengthening links with the EIBInvolved in the Global Irish Network initiativeParticipated in the SME lending tour with Department of Jobs, Enterprise & InnovationWorking closely with the SME Funding Consultation Group

Output from Mortgage Arrears Group12Developing our PeopleKey DevelopmentsRenewed focus on training and skillsHave developed a Diploma in Tax along side the ITI, similar courses are being investigated for other divisionsSupplement skills with external resources to allow on the job learning from subject matter expertsImproved Communications and Interaction management away day, quarterly town-hall meetingsEstablishment of working groups to develop People & Culture needs

Breakdown of Qualifications in the Department13Enhancing ITKey DevelopmentsImproved remote accessDeveloping IT solutions to support day to day processesE.g. Relationship management system to track external interactionsNew Intranet to share information and provide a central repository for dataIdentified future IT needs and business requirementsWorking with CMOD and other Departments to develop solutions that increase efficiency.

IT Steering Group Report on IT Needs14Improved Risk ManagementKey DevelopmentsRisk Sub-Committee formed to manage riskChief Risk Officer appointed to roll out an improved risk management processWeekly reporting used to capture key risks for each divisionBusiness Planning project is used to identify obstacles and risks which might impact on achieving key objectivesDivisional Challenge sessions are used to validate and explore key risks at a sectorial level, e.g. Shareholder Management, Economic etc

Propose Risk Framework 15Process ImprovementsKey DevelopmentsActively involved in shared services Significant additional work done in Tullamore with no increase in staffContinuous improvements in order to reduce costs and overheadsFiscal & Budget sections combined for greater interaction and operating efficiencyProject Management office established to provide oversight and monitoring of key activities

Project Management Guidelines

Monthly Management ReportingStrictly private and confidential16DisclaimerThis presentation is for informational purposes only.No person should place reliance on the accuracy of the data and should not act solely on the basis of the presentation itself.The Department of Finance does not guarantee the accuracy or completeness of information which is contained in this document and which is stated to have been obtained from or is based upon trade and statistical services or other third party sources. Any data on past performance contained herein is no indication as to future performance. No representation is made as to the reasonableness of the assumptions made within or the accuracy or completeness of any modelling, scenario analysis or back-testing. All opinions and estimates are given as of the date hereof and are subject to change. The information in this document is not intended to predict actual results and no assurances are given with respect thereto.16