The Corporate Financial Officer (CFO) is responsible for providing advice to the CDF on the financial management and governance of the NZDF, and for advising the CDF on the corporate management of defence funding. This includes:
- advising on the financial management of the NZDF to optimise the production of its outputs and to meet Key Priorities as set out in annual Output Plans
- providing short-term, medium-term and long-term resource plans, financial forecasts and budgets
- developing financial policies for the management of the NZDF's financial resources
- providing policy direction for NZDF insurance
- advising on the development and use of financial costing methodologies for allocating, managing and reporting on the financial position of the NZDF
- coordinating NZDF internal audit and risk management functions.
The CFO has responsibility for the management of the Finance Branch, the Finance Plans Directorate and the Directorate of Risk and Assurance
Finance Branch
Finance Branch is responsible at a corporate level for:
- provision of the NZDF’s external financial statements and reports in compliance with the Public Finance Act 1989, the Financial Reporting Act 1993, generally-accepted accounting principles (GAAP) and audit requirements
- provision of accurate and timely corporate accounting information and the analysis of financial performance
- provision of financial and business advice
- developing and maintaining financial policy
- developing and maintaining foreign exchange policy
- developing and maintaining financial systems
- cashflow forecasting
- provision of advice on all aspects of indirect taxation
- promotion and management of, or participation in, projects that provide cost-effective business solutions and that align the operational and resource requirements of the NZDF.
Finance Plans Directorate
Finance Plans is responsible for managing the distribution of NZDF’s annual operating and capital budgets. The Directorate is also responsible for the operation of the management systems that monitor and report on budget allocation usage, and for advice on the NZDF’s short-, medium- and long-term operating and capital budget requirements, so that the NZDF can meet the objectives in its Strategic Plan.
Tasks include:
- developing and maintaining systems such as the Defence Budgeting System, the Defence Costing System, the Long-Term Development Plan, the Defence Resource Allocation Model, and the Five Year Operating Plan
- making recommendations for reallocation of operating and capital budgets through the Reprioritisation Account (Operating) and Reprioritisation Account (Capital)
- working with Treasury and other key agencies/officials to provide information and documentation for the annual Budget Initiative process and other submissions to Ministers and to Cabinet
- developing, implementing and monitoring NZDF-wide life cycle costing processes, and analysis within NZDF
- ensuring that capital expenditure related to the Long-Term Development Plan and the Capital Minor Programme is forecast, allocated and monitored
Directorate of Risk and Assurance
The Directorate of Risk and Assurance (DR&A) supports the CDF, the Executive Leadership Team, the Risk and Assurance Committee and senior management in their corporate governance responsibilities. The Directorate’s tasks include the building, maintenance and enhancement of the NZDF’s risk management capability and the provision of active and independent internal audit and assurance services.
DR & A is based at Headquarters NZDF in Wellington, but carries out its activities at the NZDF’s various locations around New Zealand and overseas.