Video"The best [CEO-CFO] relationships work like a doubles team in tennis," says Wilson, referring to the familiarity that allows long-standing doubles partners to anticipate each other's movements. "The CEO confides [in the CFO], doesn't micromanage, and is comfortable giving responsibility."
DBM's Fink says the relationship he has with his CEO works, in part, because his boss, Tom Silveri, once had Fink's job. "He understands what I'm going through; and I can't pull the wool over his eyes, which is good," Fink quips. "He just understands the ups and downs of the job."
Of course, not everyone wants a boss who's been there, done that. Still, many CFOs and career experts agree that a great CEO-CFO relationship starts with a clear understanding of the responsibilities and challenges of each role.
For instance, is the CEO grooming a successor, or does the chief executive want a business partner and top counsel? Crist recalls a search in which the CEO specified that he wanted a CFO who had no hopes of becoming a CEO. "No problem," says Crist. "As long as everyone's clear about it."
Crist says there's one more thing good employers are usually clear about: "A smart CEO knows he needs a CFO who's smarter."
And oh yes: take the open door policy literally. If your boss constantly keeps the corner office door shut, that's a clear message he or she has little interest in input from you or other subordinates. In fact, lots of closed doors at a company is generally a sign of a guarded, secretive corporate culture — one that's probably rife with political maneuvering. Beware.
8. Managers Play Well with Others
Comedy Central's Pergola points to a former employer's office party to illustrate a cultural mismatch among colleagues.
An hour after arriving at the party, Pergola removed his suit jacket. But he was quickly asked to put it back on. The lesson: Don't underestimate the positive power of a good cultural fit, or the negative pressure of a bad one.
Pergola says for him, Comedy Central is a much better fit. As a member of the network's softball team, Pergola can blow off steam and bond with a wide range of colleagues, including teammate and "Daily Show" host Jon Stewart. He touts an atmosphere that allows him to attend "extremely important meetings" in softball garb, where fellow executives value his financial acumen more than his wardrobe.
Other companies approach executive team building in different ways. Bigelow's CFO Janezic talks about the off-site management retreat run by organizational-behavior professionals, a program the tea company started in 2001. The coaches develop behavioral profiles of each executive, and then teach the managers how to properly blend their traits and talents in the corporate setting.
Touchy feely? Maybe so. But one of the exercises led Bigelow's head of sales and marketing to choose Janezic as a partner for an international sourcing project involving a new product line. As it turns out, the CFO's input was invaluable to a marketing project that was weighed down by complex financial issues.
9. The Golden Rule: Board Independence
Lately, job satisfaction for public company CFOs seems to rise and fall with board relationships, particularly the complex, often contentious, dealings with audit committees.
At well-run companies, the CEO, CFO, audit committee chair, and chair of the board, all agree on the independence and interdependence of the players. "It's important that everyone's role is clear," asserts DBM CFO Fink.
It's no longer acceptable, for example, for passive board members with little financial expertise to wait for the "CFO [to tell] them what they needed to know," declares Fink. He is quick to point out, however, that the relationship between CFOs and board members should not degrade into an executive blame game.
A good employer doesn't foster "an adversarial relationship," notes Fink, "where the board and audit committee are cross-examining the CFO."
Before accepting a position at a new company, a financial executive also should examine the board's track record. Why? To see if it mirrors your management style and ethics, says DMB's Little. Pay special attention to things such as board activity, proxy battles, how the group handles transparency and disclosure rules, views on innovation, and reinvestment of profits.
A board that chooses to pay dividends instead of reinvesting profits, for instance, is likely looking to keeping shareholders happy rather than maximizing revenue growth. Is that the conservative type of management strategy that you advocate, Fink asks, or will you be at odds with that decision? Another litmus test: does a board tend to follow technology fads, or does it do the requisite homework to make informed investments? Does it invest in its employees?
There are no right or wrong answers to the questions, Little says. Rather, it's an exercise to help executives figure out whether corporate practices align with personal career goals. The same tests can be applied to current employers as well.
10. No Regrets when Departing
Leaving a company doesn't turn a good employer into a bad one, notes Kaiser's Briggs. The fact is, you know you've got a good employer when you're offered a great job at another company — and it's still difficult to push the button.
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