Post on 03-Jan-2016
Evolving role of CFOs in new eraBy Rakesh Sud
Director- ACMC (AIMS) Acharya Institute Of Management &
Sciences@rsud.in sud.rakesh@gmail.com
91 953515875728k+ Connections on Linked In
Today we live in a changed world
Evolving role of CFOs in new era- how I fit- almost 3 decade of experience
• CA/CWA/CISA/CISSP/DISA• Consultant in AFF• Reckitt & Colman• CFO/CEO in mid size Company• Africa – Audit and CFO Roles• 28k Linked in Connections• Now teaching at AIMS & consulting for Industry• Acting as a CFO or a CFO advisor to many units
CFO role evolves
We even hear of
• OUTSOURCED CFO
• I have done that role for a US Company for just under a year
• I am effectively an Outsourced CFO or advisor in Finance to CEO/Management for many small units
CFO is like a doctor
Free advise required at parties
CFO are expected to be
No more number-crunching
Most CEOs of leading companies seek a CFO who can help them
Today’s CFO’s Challenge
Key competences for successful CFOs.
Experience in business units outside headquarters
To enjoy real influence with the CEO,
Despite this network of close relations- Core values of CFO are
Despite this network of close relations,
CFOs are the guardians of good business practices and controls.
CFO job to troubleshoot and manage the risks inherent in corporate strategies
Guard against the tendency to use their veto power to kill off initiatives just because they are
risky.
Successful CFOs
Achieving the right degree of independence and collaboration is a tough balancing act, report the survey’s participants. This may explain why some of the most successful CFOs have experience in line and staff roles, enabling them to perfect both sets of skills.
The ability to deliver business results
CFOs become:
The reality – CFO to CEO
Outstanding CFOs with all of these skills and the right personal chemistry with their CEO have the
ability to become his/her right-hand person.
And finally succeed him
We are in Demand
• unique perspective and • financial discipline
• ensures that we are in greater demand in the company-wide strategic decision-making process
Final parting Words