cbiz finance conference: today's finance professional

TODAY’S FINANCE PROFESSIONAL

CFO Practice

Body of Work – The CFO Function CFOs Corporate Controllers (Parent & Divisional) Treasurers Heads of Internal Audit Directors of Investor Relations Tax Directors Chief Investment Officers Heads of M&A

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Yesterday’s Finance Professional

Historical Makeup of a Finance/Accounting Organization

Chief Financial Officer

Controller

Treasurer FP&A

TaxInvestor Relations

Risk ManagementInternal Audit

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M&A

Yesterday’s Finance Professional

Boxes and Structure – Myopic Everyone knew their job, their role, the pecking order, the

career path

“Everyone has to take care of their own assignment. If not, everything falls apart.”

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Today’s Finance Professional

What has changed? Scorekeeper mentality to strategic weapon Myopic to dynamic Not reactive, but proactive Bring answers and solutions, not just problems (value

add)Keys to success: Know the business Understand the strategy Perceive how you can “Make a Difference” Partner with leadership

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Know the Business What does this mean? Be more than an accountant, etc.

− Learn how your company makes money and what is important

Listen to the analyst calls, what do they look at?− Understand the financial drivers of your company

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Know the Business, continued For Field Controllers . . .

− Financial drivers, too− Industry norms − BUP education and hand holding− Seasonality− Nuances (producer-centric BU’s)− Risks

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Understand the strategy What is your companies #1 mantra? But, do you know the SWOT of your company?

− Accentuate strengths− Mitigate weaknesses− Capitalize on opportunities− Ward off threats

Comparison to competitors (IR Reports)− Are we better?− Are we behind?− WHY?

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Perceive how you can “Make a Difference” 1st, become a SME in your function Express and act upon an intellectual curiosity of other

functions More valuable professionals intentionally broaden their

skills and knowledge

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Perceive how you can “Make a Difference,” continued How?

− Seek out a mentor and/or a sponsor− Create/install effective dash boards for decision

support purposes− Understand cash flow management− Learn capital structure and treasury− Volunteer for M&A due diligence projects− Become more operationally focused

Gut check – “Am what I am working on today really moving the needle?”

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Partner with leadership Leverage leadership’s time

− What are their strengths, time constraints

Act as the fiduciary and conscience of the business

− Continuous improvement / expense control− Get others involved as a part of the solution

Be an idea person

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Partner with leadership, continued Make the budgetary process painless, more about

strategy Eliminate “office pollution,” busy work Be cognizant of “highest and best use” of time, talents,

resources

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What are the personal attributes needed to effectively operate at a high level?

− Work ethic− Attitude and engagement− Proactiveness− Agility− Curiosity− Low maintenance− Low drama− Smart and nice (do not be a jerk or arrogant)

Success - less about what you know (skills, credentials, etc.) More about the soft skills, behaviors and people/organizational

skills 13


How do successful professionals readily demonstrate such attributes? Focus on how the enterprise makes money, saves

money, or both Foster and develop excellent relationships, internally and

externally (e.g., vendors, etc.) Seek out new skills – hard and soft

What mistakes people may commonly make as they aspire to gain career success. Just go through the motions Lack of a continuous learning track record

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Interchangeable Part Theory

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Questions?

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cbiz finance conference: today's finance professional

Recruiting & HR