The skills companies value in finance leaders continue to shift with the times, with strategic acumen now edging past capital-markets experience, headhunters tell the crowd at CFO Rising.
Lori Calabro, CFO.com | US
September 28, 2009
You picked up a common occurrence, a CPA CFO. Sarbanes-Oxley Act of 2002 (SOX) has driven businesses and their CEOs more to the compliance and technical side of finance enforcing the common belief that if you have a controller and an accountant your financial needs are covered. That may apply to life style companies who do not intend to grow. A company that forecasts growth, the paradigm has to shift drastically from technical to strategic. In fact, not recognizing the importance of strategic finance may hold your company back from that growth. The CFO is a business partner who brings a strategic organizational mind set to the discussion and understands the importance of mapping out the corporate strategy into multiple roadmaps. Given uncertain economic times, this is more important than ever. Finance for emerging businesses brings a complexity that is more than accounting and number crunching. The CFO plays an important role acting as conduit to growth and walking the fine line between the risk-averse controller and the visionary CEO. This article makes a very important and somewhat forgotten point, a Strategic CFO is essential. Back in July 2009, I addressed this very issue in one of my blogs The Missing Piece: Strategic Finance at www.nextstagesolutions.com/the-missing-piece-strategic-finance/
Posted by Rudi Kurtz | October 17, 2009 05:09 pm
Excellent and informative article. It true that CFO have to spend more time on Strategic aspects of the business. I am currently CFO for European region of a global Agrochemical business in India. My question to fellow CFO is for the next growth step say being head of a major business region, is it necessary to change geography say USA and continue in CFO role Or go into operations say being a Business Manager for a smaller country.
Posted by Jimmy Dadrewalla | October 02, 2009 05:45 am
Hi, I htink this article is hitting the spot and I am one of these CFO's that can take a coomapny to the next level. I can be reached at firstname.lastname@example.org if a company is looking forward to the future and growth. This I beleive will happen for the next 10-15 years due to the economy being so down and expectations are high for the future.
Posted by Dino Micheli | September 30, 2009 10:37 am
There is no loyalty. We are commodities to be bought and sold. If you think for a second that all the years of hard work and sleepless nights count for something.............wake up...no one cares about us....I have been there and done that and it has been an eye-opener....betrayal, lies whatever; in the end it is every person for themselves.....if you happen to be one of the few lucky to have prospered thruough you loyalty and hard work, bless you.
Posted by Rick Macchiarulo | September 29, 2009 02:04 pm
This was a very good article with explanations of today's market and what the companies are looking for. What I just had happen didn't go into detail in your article. I just lost my CFO position because a friend of the President had a friend that needed a job so I was let go after 3 years of excellent job reviews. Now what?
Posted by Bonnie Kremer | September 29, 2009 08:44 am© CFO Publishing Corporation 2009. All rights reserved.