branding the cfo, presentation, may 14, 2014
DESCRIPTION
to enhance their career and how CFOs themselves can bridge their current position with one that reflects their evolving value and clearly features their potential to organizations to finally become trusted strategic advisors. Branding the CFO confirms the findings of the 2011 CFERF study Beyond the Numbers that the value of CFOs in interpreting and anticipating risk, being an objective advocate and understanding the greater business context were seen as critical to ensuring the success of businesses.TRANSCRIPT
Branding the CFO – Leadership beyond finance
Branding the CFO – May 14, 2014
Michael Conway – President and CEO of FEI Canada
Branding the CFO – May 14, 2014 Financial Executives International Canada: • All industry professional association
of financial executives across the country
• Networking • Continuing professional
development • Insights and research arm (CFERF) • Thought leadership committees
Why did we do the study?
Branding the CFO – May 14, 2014
• The role of the CFO has evolved • Not the traditional score keeper role • More broader, strategic role within
organization • How CFOs should brand themselves
Structure of the study
Branding the CFO – May 14, 2014
• Survey questions to large segment of executives
• Research forum – 18 financial executives and CFOs
• Interviews of 10 CEOs
Insights
Branding the CFO – May 14, 2014
Reaffirmed CFO’s role has continued to broaden More strategic advisor and partner role Not all individuals go from controller/VP finance into the CFO role
Role of the CFO: Understanding
Branding the CFO – May 14, 2014 CFO trust pyramid – trust layers CFO has to ascend to become strategic advisor Understand their entire organization very well Heavy reliance on strong financial capabilities and financial reporting Knowledge of the business
ThinkBlink ToolBook | The Trust Ladder | � 8
The trust ladder outlined the major steps CFOs must take and have included specifics in greater detail within the following sections:""
"Understanding Level: Starting with the foundation of developing a strong understanding of the organization, the ability to have a strong finance team, and being vigilant about the business allows the CFO to move to the second level of trust.""Facilitator Level: The CFO at this level acts as a facilitator for change and growth across the entire organization. The ability to coach the various business units and helping them succeed leads to the final level.""Leadership Level: The last and most critical level builds toward becoming a “Strategic Advisor”, communicating the strategic direction that will drive future business performance.""The trust ladder approach has been applied to a wide range of transformation initiatives. The most notable was the OfficeMax Vector project, which focused around offering small entrepreneurial companies curated, added-value services in order to help their business grow, and reinventing the office supply retailer model in the process.!
Role of the CFO: Facilitation
Branding the CFO – May 14, 2014 Conscience of the organization Promote ethical business practices Ensure controls in place; reputation is not in danger Offer solutions to business Coach business units and grow the business
ThinkBlink ToolBook | The Trust Ladder | � 8
The trust ladder outlined the major steps CFOs must take and have included specifics in greater detail within the following sections:""
"Understanding Level: Starting with the foundation of developing a strong understanding of the organization, the ability to have a strong finance team, and being vigilant about the business allows the CFO to move to the second level of trust.""Facilitator Level: The CFO at this level acts as a facilitator for change and growth across the entire organization. The ability to coach the various business units and helping them succeed leads to the final level.""Leadership Level: The last and most critical level builds toward becoming a “Strategic Advisor”, communicating the strategic direction that will drive future business performance.""The trust ladder approach has been applied to a wide range of transformation initiatives. The most notable was the OfficeMax Vector project, which focused around offering small entrepreneurial companies curated, added-value services in order to help their business grow, and reinventing the office supply retailer model in the process.!
Role of the CFO: Leadership
Branding the CFO – May 14, 2014 Drive and plan future business performance Communicate strategic direction Spokesperson for organization Align organization’s vision Strategic advisor; trusted partner of CEO and board
ThinkBlink ToolBook | The Trust Ladder | � 8
The trust ladder outlined the major steps CFOs must take and have included specifics in greater detail within the following sections:""
"Understanding Level: Starting with the foundation of developing a strong understanding of the organization, the ability to have a strong finance team, and being vigilant about the business allows the CFO to move to the second level of trust.""Facilitator Level: The CFO at this level acts as a facilitator for change and growth across the entire organization. The ability to coach the various business units and helping them succeed leads to the final level.""Leadership Level: The last and most critical level builds toward becoming a “Strategic Advisor”, communicating the strategic direction that will drive future business performance.""The trust ladder approach has been applied to a wide range of transformation initiatives. The most notable was the OfficeMax Vector project, which focused around offering small entrepreneurial companies curated, added-value services in order to help their business grow, and reinventing the office supply retailer model in the process.!
Branding the CFO – May 14, 2014
ThinkBlink ToolBook | The Trust Ladder | � 8
The trust ladder outlined the major steps CFOs must take and have included specifics in greater detail within the following sections:""
"Understanding Level: Starting with the foundation of developing a strong understanding of the organization, the ability to have a strong finance team, and being vigilant about the business allows the CFO to move to the second level of trust.""Facilitator Level: The CFO at this level acts as a facilitator for change and growth across the entire organization. The ability to coach the various business units and helping them succeed leads to the final level.""Leadership Level: The last and most critical level builds toward becoming a “Strategic Advisor”, communicating the strategic direction that will drive future business performance.""The trust ladder approach has been applied to a wide range of transformation initiatives. The most notable was the OfficeMax Vector project, which focused around offering small entrepreneurial companies curated, added-value services in order to help their business grow, and reinventing the office supply retailer model in the process.!
CFO Trust
Pyramid
Develop soft skills
Branding the CFO – May 14, 2014
• Preparation for the boardroom • Investor presentations • Lead town halls • Executive presence • Strategic planning • Governance • Risk management
Question Period 1.800.747.5150 Access: 5697142
Branding the CFO – May 14, 2014