Finance in Defence
The Defence Finance Group is responsible for managing the Defence Finances at the portfolio level.
- Driving the financial and management improvement programs for Defence;
- Leading the implementation of a more streamlined accountability structure, as well as updating and applying financial policies and standards; and
- Advise on key resourcing issues, within guidance from the Secretary and Chief Defence Force (CDF) Advisory Committee.
Defence Finance Group is led by the Chief Finance Officer, Mr Steven Groves, and comprises of two divisions.
Budgets and Financial Services Division
The Budgets and Financial Services Division delivers a range of Financial Services encompassing:
- Regular production of financial data and preparation of annual financial statements;
- Planning, management, monitoring and reporting of Defence's budget;
- Developing financial management and accounting policies;
- Maintenance and distribution of Accountable Authority Instructions and delegations;
- Undertaking treasury and tax management functions;
- Management of Defence's financial and accounting systems;
- Supporting Ministers in their role as shareholders of Defence Housing Authority (DHA) and other Defence Portfolio bodies;
- Responsible for cost assuring the resource aspects of Ministerial and Cabinet Submissions;
- Undertaking strategic business analysis for Office of Secretary and Chief Defence Force (OSCDF); and
- Manages its suite of activities to promote a professional finance workforce.
Financial Performance and Management
- Finance advice in support of procurement and cooperative programs;
- Support financial evaluation of procurement, including tender evaluation;
- Provide guidance in relation to total cost of ownership for Defence capabilities;
- Provide financial advice on overall capital program management including project slippage, risks and opportunities;
- Co-ordinate budget performance reviews and calculate the impact of schedule changes or delays;
- Provide advice on appropriate account treatment;
- Contribute to cost estimation for the workforce, joint training and development, exercise participation, operations planning, contracts and one-off activities; and
- Provide cost assurance and advice to support customers in achieving corporate objectives and financial accountabilities.