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Practical CEO
Leaders are visionaries with a poorly developed sense of fear and no concept of the odds against them
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Practical CEO
► Role of a CEO► What constituents?► Who wants what from whom?► Skills and characteristics► First day checklist► A day in the life of a ceo► What can go wrong► Summary
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Role of the Ceo
► Leader not manager► Provide strategic direction, it is about horizons► The primary, broadly defined risk manager► Spokesperson for the company► Arbiter of the senior management team► Responsible for approving policies to create a controlled
environment
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Who are the constituents?
► Shareholders through the supervisory board► Executive directors► Staff ► Clients► Suppliers► The ‘public’► Regulators► Tax and other government► Organisational departments, direct and matrix
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What do they want from me….
► Understanding of the environment (now and in future)► Economics► Politics► Industry and key developments► Competition ► Culture
► Deep knowledge of the dynamics of the business► By business line► Dynamics of the cost structure► Scenario analysis
► Ownership of broadly defined risk management► Brand adherence► Controlled environment
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What do I want from them….
► Clear key performance indicators, for me, the business► Capital, funding, counterparty limits► Clear and understandable policies and practises► Effective reporting systems that minimise the pain► Appropriate products and technology► Brand and public relations support► Pool of talented, motivated staff with specific expertise
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Characteristics and skills
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Characteristics
► Integrity ► Commitment► Judgement/wisdom► Patience/ impatience► Perseverance► Equality► Courage
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Some useful skills
► Communication external and internal, written and verbal► Ability to judge existing and proposed management► Coaching, interaction with staff► How to run a meeting► Time management► Marketing capabilities► Strong credit skills
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Communication skills
► Start with the end in mind► Structure the communication so that it is logical and
simple to follow► Say what you are going to say, say it and then summarise
it► Know your audience► Time management
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How to judge management
► Often what is unsaid as important as what is► Triangulate questions, asking from different angles► Understand the cv, what skills were required► Personal references from known sources are the best► Is there a back up in place► What people skills, use 360 degree plus new manager
assimilation
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Coaching, interaction with staff
► Leaders lead, managers manage, don’t get confused!► Core communication skills
► In staff meetings► In written memos including internet► In one on one► In committees
► Clear KPI’s reviewed regularly► Transparent, fairly managed remuneration plans► Coaching skills ► The elevator chat
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How to run a meeting
► Create a clear agenda outlining purpose and decisions to be made
► Circulate in sufficient detail with accompanying documents sufficiently ahead of time for participants to be able to absorb the material
► Create the’bolshoi rule’, everyone on time, no one gets in after the meeting starts
► Listen first and only comment after others► Ensure time keeping, don’t let the meeting overrun► Rapidly produce and circulate an agrred list of action plans,
due dates and responsible people► Maintain momentum…..
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Time management
► Open door means you don’t control your time but► Build in ‘free time’, walk the corridors► Don’t let the urgent crowd out the important► Build gaps between meetings to enable run over► Bring them to you, if possible, appropriate► Create ‘thought’ zones► Understand if you are a morning or evening person► The goal is effectiveness not busy ness
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Marketing
► Clear set of goals for brand, product sales► Determine what channels to be used► Determine what the target audience is ► Ensure that there is a clear agency brief► Use appropriate focus groups and surveys where
necessary► Explore non standard channels ► Create a baseline to enable tracking impact of differing
programs
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Credit skills
► No substitute for experience► Conduct a portfolio review of 80/20 exposures► Meet management and/or shareholders of all key credits► Understand the purpose and structure of facilities► Good credit initiation means getting behind the numbers,
understanding strategy and competitive environment► The second way out is only as good as the documentation► Credit is not a one off event, it requires appropriate
monitoring, and in person
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First day’s checklist
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► Understand the criteria that drive the shareholders’ definition of success► What return on capital► What market share and in what product► What public image, message
► Review the strategy in light of market► Tactics and timing, priorities
► Own the numbers, understand the dynamics of the business
► Build the right team► Analyse existing resources► Determine who to keep, replace, hire
The first day’s checklist
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The first day’s checklist continued
► Inventory full spectrum risks and determine hold, avoid, increase► Differentiate between idiosyncratic and systemic► Understand timing
► Review policies, practises, procedures► Are they robust, appropriate, scaleable?► Not just corporate but across the board, eg marketing, new
product introduction
► Technology► Create a 90 day plan
► Find early successes► Don’t let the urgent crowd the important
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First day checklist continued……
► Conduct line reviews of core businesses► Portfolio review, what risks and opportunities, any close in dangers?► Recent trading performance, what might change?► Ensure mark to market in treasury and portfolio► How to position to maximise upside?
► Check in with key constituents► Regulators and administration► Customers► Line and matrix managers► Staff► Competitors► Suppliers
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A day in the life ….
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A day in the life of a CEO
► 0800 check news, market update► 0830 run through schedule of day with assistant, reorder
where necessary priorities► 0900 weekly business review with executive management
team (or individually with line managers)► 1000 briefing client management team for key messages► 1015 client meeting► 1130 initiative review with project team► 1230 lunch with competitor, key industry player, client► 1430 attend bankers’ association meeting, lobby
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A day in the life …continued
► 1530 walk the corridors► 1600 credit committee (or alco, audit etc)► 1730 conference call with head office to report issues► 1830 interview with mass media ► 1930 attend reception► 2030 client dinner
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Things that can go wrong….
► People► Initiatives from center► IT problems, fires► External, internal fraud► PR disaster► The outside world
Competitors can strengthen
Customers go bankrupt
Banks cancel lines
Laws change
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Summary
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Summary
► Integrity► Clear, thought through strategic direction► Understanding of the marketplace► Good interpersonal skills ► Ability to motivate► Technical knowledge► Tactical common sense