Public funding advisor

Public funding advisors advise individuals and businesses about funding opportunities given by local governments. They analyse the needs of clients, consult them on funds, grants and subsidies that apply to them and help with the application process. Public funding advisors also set up public grant administration in organisations.

The duties of a public funding advisor include, but are not limited to:

• Encourage funding proposals in accordance with local governments strategies by advising potential applicants on the appropriate form and content of projects
• Contribute to developing assessment processes that are efficient, robust and fair
• Draft high quality funding papers and ensure recommendations are based on impartial assessment and sound judgement, including assessing service quality, financial viability, creativity, technical feasibility and the project’s contribution to the local government’s strategy
• Collaborate with and assist other funding team members in developing and maintaining quality systems and processes to organise and administer each funding round efficiently and effectively
• Monitor contract, budget and production progress of funded projects, reporting any potential issues and possible solutions

Public funding advisors spend most of their time in an office, analyzing data from a desk. They also need to meet with clients and prospective clients, and those meetings can take place in the office or at the homes of clients. Seminars or workshops may require some travel.

For the most part, public funding advisors work standard business hours. But some nights and weekends will be required in order to accommodate clients’ schedules. Seminars and workshops also are commonly held during evenings or weekends.

In some markets, public funding advisors must obtain a license to provide advice or sell products to clients. The process to obtain those licenses requires time and study. They may also need to keep those licenses in good standing by completing regular continuing education courses.

The following job titles also refer to public funding advisor:

• public funding co-ordinator advisor
• business mentor
• business finance advisor
• business advisor
• enterprise mentor
• grants advisor
• enterprise advisor
• public funding specialist
• enterprise coach
• business coach

A bachelor’s degree in business, finance, or accounting is generally the minimum required to work as public funding advisor. Earning a master of business administration (MBA) or a master’s degree in finance helps with career advancement or with marketing and recruiting clients.

ISCO skill level is defined as a function of the complexity and range of tasks and duties to be performed in an occupation. It is measured on a scale from 1 to 4, with 1 the lowest level and 4 the highest, by considering:

• the nature of the work performed in an occupation in relation to the characteristic tasks and duties
• the level of formal education required for competent performance of the tasks and duties involved and
• the amount of informal on-the-job training and/or previous experience in a related occupation required for competent performance of these tasks and duties.

Public funding advisor is a Skill level 4 occupation.

These occupations, although different, require a lot of knowledge and skills similar to public funding advisor.

fundraising manager
business consultant
legal consultant
grants management officer
budget manager

This knowledge should be acquired through learning to fulfill the role of public funding advisor.

• Funding methods: The financial possibilities for funding projects such as the traditional ones, namely loans, venture capital, public or private grants up to alternative methods such as crowdfunding.
• Business analysis: The research field which addresses the identification of business needs and problems and the determination of the solutions that would mitigate or prevent the smooth functioning of a business. Business analysis comprises IT solutions, market challenges, policy development and strategic matters.
• Business processes: Processes which an organisation applies to improve efficiency, set new objectives and reach goals in a profitable and timely manner.

These skills are necessary for the role of public funding advisor.

• Manage government funding: Monitor the budget received through government funding, and ensure there are enough resources to cover the costs and expenses of the organisation or project.
• Perform business analysis: Evaluate the condition of a business on its own and in relation to the competitive business domain, performing research, placing data in context of the business’ needs and determining areas of opportunity.
• Analyse business objectives: Study data according to business strategies and objectives and make both short-term and long-term strategic plans.
• Use consulting techniques: Advise clients in different personal or professional matters.
• Advise on financial matters: Consult, advise, and propose solutions with regards to financial management such as acquiring new assets, incurring in investments, and tax efficiency methods.
• Analyse business requirements: Study clients’ needs and expectations for a product or service in order to identify and resolve inconsistencies and possible disagreements of involved stakeholders.
• Inform on government funding: Give information to customers related to the grants and financing programmes attributed by the government for small and large scale projects in various fields such as the promotion of renewable energies.
• Identify clients’ needs: Identify the areas in which the client may require aid and investigate the possibilities for meeting those needs.

This knowledge is sometimes, but not always, required for the role of public funding advisor. However, mastering this knowledge allows you to have more opportunities for career development.

• Business management principles: Principles governing business management methods such as strategy planning, methods of efficient production, people and resources coordination.
• Budgetary principles: Principles of estimating and planning of forecasts for business activity, compile regular budget and reports.
• Financial analysis: The process of assessing the financial possibilities, means, and status of an organisation or individual by analysing financial statements and reports in order to make well informed business or financial decisions.

These skills and competences are sometimes, but not always, required for the role of public funding advisor. However, mastering these skills and competences allows you to have more opportunities for career development.

• Manage government-funded programmes: Implement and monitor the development of projects subsidized by regional, national or European authorities.
• Keep task records: Organise and classify records of prepared reports and correspondence related to the performed work and progress records of tasks.
• Create a financial plan: Develop a financial plan according to financial and client regulations, including an investor profile, financial advice, and negotiation and transaction plans.
• Issue official documents: Issue and certify official documents to national citizens and foreigners such as passports and certificates.
• Respond to enquiries: Respond to enquiries and requests for information from other organisations and members of the public.
• Observe confidentiality: Observe the set of rules establishing the nondisclosure of information except to another authorised person.
• Analyse internal factors of companies: Research and understand various internal factors that influence the operation of companies such as its culture, strategic foundation, products, prices, and available resources.
• Check official documents: Check an individuals’ official documentation, such as driver’s licenses and identification, to ensure compliance with legal regulations, and to identify and assess individuals.
• Apply for government funding: Gather information on and apply for subsidies, grants, and other financing programmes provided by the government to small- and large-scale projects or organisations in various fields.
• Prepare government funding dossiers: Prepare dossiers to request government funding.
• Analyse external factors of companies: Perform research and analysis of the external factor pertaining to companies such as consumers, position in the market, competitors, and political situation.
• Execute feasibility study: Perform the evaluation and assessment of the potential of a project, plan, proposition or new idea. Realise a standardised study which is based on extensive investigation and research to support the process of decision making.

2412 – Financial and investment advisers

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References

1. ESCO
2. Financial Advisor Careers: Pros and Cons – Investopedia
3. U.S. Bureau of Labor Statistics
4. Featured image: Photo by Kindel Media