Financial Acumen
Financial Acumen: maintains and applies a broad understanding of financial management principals to ensure decisions are fiscally sound and responsible. The chart below outlines the training for this competency at each proficiency level.
Key Behaviors:
- Demonstrates broad understanding of financial management principles to direct organizational actions
- Sets organizational priorities by aligning organizational finances with NIH strategic goals
- Uses cost-benefit thinking to set priorities
- Identifies cost effective approaches
- Prepares, justifies and/or administers the budget for the program area
- Monitors the overall performance of the organization and adjusts allocation of finances based on progress against goals
- Fosters an environment that encourages fiscal responsibility
Recommended Training for Financial Acumen
| Proficiency Levels | Program/Course Title & Info | Contact Info/Vendor |
|---|---|---|
| Baseline (1) | Federal Financial Management Overview | Management Concepts |
| Baseline (1) or Progressing (2) | Federal Appropriations Law (FM8178) | HHS University |
| Federal Appropriations Law Update (FM 8177) | HHS University | |
| Progressing (2) | Balanced Score Card (4206) | Management Concepts |
