evolving role of cfos in new era by rakesh sud director- acmc (aims) acharya institute of management...
TRANSCRIPT
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Evolving role of CFOs in new eraBy Rakesh Sud
Director- ACMC (AIMS) Acharya Institute Of Management &
[email protected] [email protected]
91 953515875728k+ Connections on Linked In
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Today we live in a changed world
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Evolving role of CFOs in new era- how I fit- almost 3 decade of experience
• CA/CWA/CISA/CISSP/DISA• Consultant in AFF• Reckitt & Colman• CFO/CEO in mid size Company• Africa – Audit and CFO Roles• 28k Linked in Connections• Now teaching at AIMS & consulting for Industry• Acting as a CFO or a CFO advisor to many units
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CFO role evolves
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We even hear of
• OUTSOURCED CFO
• I have done that role for a US Company for just under a year
• I am effectively an Outsourced CFO or advisor in Finance to CEO/Management for many small units
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CFO is like a doctor
Free advise required at parties
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CFO are expected to be
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No more number-crunching
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Most CEOs of leading companies seek a CFO who can help them
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Today’s CFO’s Challenge
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Key competences for successful CFOs.
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Experience in business units outside headquarters
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To enjoy real influence with the CEO,
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Despite this network of close relations- Core values of CFO are
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Despite this network of close relations,
CFOs are the guardians of good business practices and controls.
CFO job to troubleshoot and manage the risks inherent in corporate strategies
Guard against the tendency to use their veto power to kill off initiatives just because they are
risky.
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Successful CFOs
Achieving the right degree of independence and collaboration is a tough balancing act, report the survey’s participants. This may explain why some of the most successful CFOs have experience in line and staff roles, enabling them to perfect both sets of skills.
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The ability to deliver business results
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CFOs become:
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The reality – CFO to CEO
Outstanding CFOs with all of these skills and the right personal chemistry with their CEO have the
ability to become his/her right-hand person.
And finally succeed him
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We are in Demand
• unique perspective and • financial discipline
• ensures that we are in greater demand in the company-wide strategic decision-making process
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Final parting Words