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Focus Area Information - Business & Financial Planning

Business and Financial Planning in the Ontario Public Service

The business of managing the government’s finances is no small task. The business and fiscal planning professionals of the Ontario Public Service (OPS) make sure the government manages public funds in a way that is accountable, transparent, sustainable, results-oriented and provides value for money.

As a business and financial planning intern you will be part of this team. The Ontario Internship Program (OIP) is seeking talented individuals who understand and thrive in the world of business and finance. In this role, you will provide financial advice and expertise to clients and stakeholders, forecast and monitor business expenditures, and perform expenditure management and analysis. You will also be exposed to government accounting policy development, planning and decision-making processes. You will also have the opportunity to gain valuable training and experience that will assist towards acquiring an accounting or financial designation.

Interns specializing in business and financial planning work on a wide range of innovative and exciting projects, such as assessing financial proposals, evaluating ministry-wide management processes and business practices, and preparing forecasting reports and the annual ministry business plans.

If you have a passion for business and finance, and are ready to accept real challenges and responsibilities, then start and accelerate your career with us.

Knowledge

  • Accounting/Finance: demonstrates knowledge and an understanding of various accounting principles and systems and the ability to analyze and prepare financial statements and reports
  • Business Planning: identify key business objectives and goals for the organization, considering the variety of factors that impact the organization and establishing goals that account for those factors
  • Financial Management/Economics/Business/Commerce: demonstrate knowledge and an understanding of effective planning and management of moneys to meet business goals. This would include:
    • knowledge of long and short range financial planning;
    • financial and economic forecasting;
    • allocating budgets and targets;
    • risk management and performance measurement;
    • monitoring, tracking, processing transactions;
    • financial controllership and reporting;
    • gathering data and performing quantitative, qualitative and statistical analysis
    • ability to interpret and apply standards, policies, procedures and legislation

Skills

  • Analytical: identify trends and relevant themes to support the development of user-focused and evidence-based findings and recommendations
  • Communication: present information using traditional and/or digital media in a clear, concise and accurate manner through effective written, oral and visual communication
  • Collaboration: work with others across the organization to identify and solve a problem or achieve a common goal that is mutually beneficial
  • Client Focused: anticipate and identify client needs to respond and provide better services with a goal of maximizing client satisfaction. Customers and clients may include the public, colleagues, partners, and peers
  • Problem-Solving: recognize, understand and resolve a problem by breaking it apart into smaller pieces, and evaluating options and identifying alternative solutions. This also includes the ability to blend robust analysis with creativity to solve new and changing problems, as well as challenging the status quo where appropriate.
  • Research: ascertain relevant questions/concerns about the identified topic and determine the most appropriate method(s) to acquire the knowledge and or information needed to address, as fully and accurately as possible, those questions/concerns
  • Relationship Management: build and maintain strong working relationships with clients, stakeholders, partners and colleagues while demonstrating respect, ethics and extending trust in order to achieve organizational goals
  • Planning and Coordinating: prioritize tasks, manage competing priorities to effectively manage time in order to meet deadlines.

What to Expect

As a business and financial planning intern your work could include:

  • Learning about public sector accounting, financial management including the annual financial planning process, in-year submissions, internal control and assurance, and the financial reporting and expenditure management processes within ministries
  • Acquiring hands-on experience with the principles of business planning, strategic resource management, risk assessment, financial reporting, accounting and controllership
  • Preparing information that feeds into ministry financial statements and supporting documentation
  • Developing business proposals in support of ministry programs
  • Designing financial and business processes that support the implementation of program initiatives and changing business requirements
  • Identifying and analyzing the financial impacts of new and changing programs
  • Providing assurance and consulting services to add value and improve an organization’s operations
  • Gain valuable training and experience that will assist towards acquiring an accounting or financial designation.

Looking Ahead

The OIP is an excellent opportunity to start and accelerate your career and expand your financial management and accounting skills with the Ontario Public Service. The knowledge and experience you gain as a business and financial planning intern will lay the foundation of a future career as a specialist in your field. An internship in this area can prepare you for a career as a/an:

  • Financial Analyst/Officer/Project Lead
  • Program Analyst/Consultant
  • Economist
  • Internal Auditor/Controller.

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