Statement of Strategy Update – Mr. John A. Moran Joint Committee on Finance, Public Expenditure & Reform November 2

1. Statement of Strategy Update – Mr. John A. Moran Joint Committee on Finance, Public Expenditure & Reform November 2012

2. Overview Mission Statement Our Goals New Organisational Structure Key Areas of Focus

3. Mission Statement “The Department’s mission is to manage Government finances and play a central role in the achievement of the Government’s 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.”

4. Our 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.

5. Reaching Our Goals • Providing independent, impartial and well informed advice to the minister and Government • Advising on and implementing, policies that will ensure a robust financial system • Providing advice in the interests of society as a whole • Our Guiding Principles • Equity • Partnership • Leadership • Challenge • Integrity

6. Secretary General Financial Office International Financial Services Fiscal Economic Corporate Office GG Accounting Exchequer Accounting HR Risk /Compliance EU Policy Presidency IMF/OECD/IFI’s Programme International Relations Banking Financial Services Insurance Funds SMU Tax Policy Budget Policy Budget Coordination Strategy Forecasting Analysis Micro-Unit Executive Communication Programme Change Management Overview of Department Structure

7. Key Areas of Focus

8. Departmental Governance • Key Developments • Improvements to MAC agenda • New reporting mechanism to streamline discussions • Reporting published on intranet to support information sharing • Weekly policy challenge sessions • Local challenge sessions at divisional level • Improved business planning • Stronger Audit Committee with more senior appointments from the Department Sample MAC Agenda

9. More Outward Focused Department • Key Developments • Significantly increased our interaction with other Treasuries • Enhanced EU and International team to build links with industry and governments. • Developed a network of contacts in Department of Foreign Affairs • The Secretary General has held more than 400 external meetings since March 2012 • Including meetings with Industry, Education sector and other Governments • Played an active role in foreign trade missions. Sample trade mission Sample external event

10. Robust Economic Analysis • Key Developments • Increased resources in Economic areas • Embedded resources with Economics experience in other divisions • Greater involvement in Economic analysis • Increased Economic analysis and the production of relevant material. • Focus on Economic policy to grow the economy – supported by external expertise Sample Economic Output

11. Supporting all of Government • Key Developments • Playing a central role in Cross-Departmental challenges; • e.g. Mortgage Arrears • Strengthening links with the EIB • Involved in the Global Irish Network initiative • Participated in the SME lending tour with Department of Jobs, Enterprise & Innovation • Working closely with the SME Funding Consultation Group Output from Mortgage Arrears Group

12. Developing our People • Key Developments • Renewed focus on training and skills • Have developed a Diploma in Tax along side the ITI, similar courses are being investigated for other divisions • Supplement skills with external resources to allow on the job learning from subject matter experts • Improved Communications and Interaction – management away day, quarterly “town-hall meetings” • Establishment of working groups to develop People & Culture needs Breakdown of Qualifications in the Department

13. Enhancing IT • Key Developments • Improved remote access • Developing IT solutions to support day to day processes • E.g. Relationship management system to track external interactions • New Intranet to share information and provide a central repository for data • Identified future IT needs and business requirements • Working with CMOD and other Departments to develop solutions that increase efficiency. IT Steering Group Report on IT Needs

14. Improved Risk Management • Key Developments • Risk Sub-Committee formed to manage risk • Chief Risk Officer appointed to roll out an improved risk management process • Weekly reporting used to capture key risks for each division • Business Planning project is used to identify obstacles and risks which might impact on achieving key objectives • Divisional Challenge sessions are used to validate and explore key risks at a sectorial level, e.g. Shareholder Management, Economic etc Propose Risk Framework

15. Process Improvements • Key Developments • Actively involved in shared services • Significant additional work done in Tullamore with no increase in staff • Continuous improvements in order to reduce costs and overheads • Fiscal & Budget sections combined for greater interaction and operating efficiency • Project Management office established to provide oversight and monitoring of key activities Monthly Management Reporting Project Management Guidelines

16. Disclaimer This 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. Strictly private and confidential