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Reconciliation and Analysis

Reconciling and analyzing financial information to inform decision-making in the organization.
Level 1 Demonstrates introductory understanding, directing people to the appropriate source for further information.

BEHAVIORS

  • Explains the importance of accurate financial information and the role that basic account information plays in decision-making.
  • Performs basic G/L account reconciliations.
  • Identifies reconciling items.
  • Recommends basic improvements to prevent errors and unreconciled accounts.

QUESTIONS

  • Tell me about a time when you performed a reconciliation of a G/L account.

Probing Questions

* What was the account?

* Why was reconciliation necessary?

* Did you encounter any difficult issues?

* How did you resolve those issues?

* What was the result?

  • Describe a time when you made a process improvement recommendation based on reconciliations you normally perform.

Probing Questions

* What was the reconciliation that prompted the recommendation?

* What was your recommendation?

* Was it implemented?

* Did it improve the situation?

Level 2 Applies the competency in common situations that present limited difficulties, working with a moderate level of guidance.

BEHAVIORS

  • Performs complex account reconciliations.
  • Analyzes complex, routine information to identify trends and anomalies useful to decision-making.
  • Prepares reports for financial management, including recommendations and predictions.

QUESTIONS

  • Describe an analysis or prediction that you prepared for management.

Probing Questions

* What was the analysis or prediction?

* What background work did you do to come up with the analysis or prediction?

* What resources did you use?

* What were your recommendations?

  • Describe a complex reconciliation that you performed.

Probing Questions

* What was the analysis?

* What made it complex?

* How did you go about it?

* What was the result?

Level 3 Applies the competency in the full range of typical situations, requiring guidance in only the most complex or new situations.

BEHAVIORS

  • Prepares complex analyses of financial information to identify trends, opportunities and risks.
  • Makes recommendations on alternatives, based on analyses and understanding of the organization’s policies and objectives.
  • Communicates performance analysis results to stakeholders within the organization in a manner that assists them to understand underlying causes and potential actions.
  • Searches for new or improved performance measures by considering emerging industry trends and changing organizational objectives.

QUESTIONS

  • Tell me about a new or improved performance measure that you identified.

Probing Questions

* What was the new or improved measure?

* How did it would improve decision-making in the organization?

* How did you communicate your recommendation?

* Was your recommended measure adopted?

  • Tell me about a time when you presented analysis results to stakeholders outside the finance department.

Probing Questions

* What was the circumstance?

* Who was your audience?

* What was their interest in the analysis?

* How did you go about the presentation?

* What was the result?

Level 4 Applies the competency in new or complex situations and advises others.

BEHAVIORS

  • Identifies areas to monitor and report in order to assess corporate decision-making.
  • Coaches internal stakeholders in interpreting the results of performance analyses.
  • Develops and improves internal reporting to facilitate decision-making.
  • Devises systems and processes to monitor the validity of performance analyses.

QUESTIONS

  • Describe a feedback process that you designed to validate an analysis.

Probing Questions

* What was the analysis that needed to be validated?

* Why was it important to validate the analysis?

* How did you decide on the particular feedback process?

* How did the feedback process adequately validate the analysis?

  • Tell me about an internal report you developed to improve decision-making in the organization.

Probing Questions

* What was the report?

* How did you decide what information to include?

* How did you decide how to present the information?

* How did the report contribute to effective decision-making?

Level 5 Develops new approaches and methods in the area. Is recognized as an expert within the organization.

BEHAVIORS

  • Identifies key decision-making areas that will benefit from financial analyses and other financial tools.
  • Monitors the effects of financial analyses on decision-making, making adjustments to improve the effectiveness and efficiency of decision-making.
  • Develops policies and procedures around decision-making based on financial analyses.

QUESTIONS

  • Describe a time when you identified a new area to monitor or measure to improve decision-making.

Probing Questions

* What were the circumstances surrounding this issue?

* What was the new area?

* How did you identify it?

* Was the new measurement useful in promoting better decision-making?

  • Tell me about a time when you created or changed policies around decision-making based on analysis.

Probing Questions

* Why was a change or a new policy necessary?

* How did you identify the necessity?

* How did you devise the new or changed policy?

* Did the new or changed policy was effective in improving decision-making?