In our finance consulting team, Lucy Etherington helps CFOs and other finance leaders to clarify and set their vision for their own role and for their finance team within the wider organisation.
To open the event, Lucy shared how we're seeing the skills, attributes, remit and responsibilities of finance leaders evolve, the changes we expect to see over the next five years, and how you can prepare.
“You don’t need to be the expert in all things digital, but you do need to have an awareness of what could potentially be automated, the quality of data and the systems that that you're going to be relying upon, and what the appropriate solution for your business might be now, in two years’ time, and in the long term."
“Change is the new normal. Understanding the breadth of change and the cost of change - or the cost of not making a change - needs to be high up on finance leaders' agenda, but you also need to think about the impact of change on your people. As a finance leader, how are you bringing people with you on that journey?”
“ESG is coming into the remit of a lot of finance leaders who we work with. As a CFO, you need understand what your business strategy is, and the ways in which ESG is likely to impact it. Will it create risks? For example, if a customer asked what your net zero policy is, would you be able to answer? There are a lot of areas within the ESG remit that need to be high up on a CFO's agenda."
“There are lots of different skills within finance teams now - you might have more data scientists, more coders and so on – which means that the team management skills CFOs need are shifting. You’re going to be a partner and a leader for many, and you will need to be able to adapt. Know your strengths and weaknesses, and have the right team around you to support you on the areas you’re not as confident influencing.”
“Finance is often seen as the function that manage and report on the KPIs - but it's a responsibility of the finance leader to be go beyond that to really amplify what those KPIs are around the business, make sure that they're understood, and that people understand their contribution to them.”
We were fortunate to be joined by three seasoned finance and business leaders for a discussion, hosted by Head of Finance Consulting Simon Davidson, around the future of the CFO role.
Topics of discussion include:
Chris L'Amie has over twenty years of experience in supporting businesses with executive appointments, and currently leads Page Executive's CFO appointments across Northern England and Scotland.
Catch up on his presentation for insight on:
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“Most businesses now take financial acumen for granted - it can be measured and assessed with empirical data about business performance. But how does that leverage against somebody's entrepreneurialism and enabling businesses to evolve and grow? We're seeing much more of a narrative around how businesses interview for those skills across the spectrum, from FTSE 100 clients right through to very small businesses who are looking for the right-hand person to the MD.” Chris L'Amie, Partner and CFO Practice Lead at Page Executive |
Register to join our upcoming CFO Forums to network with peers, and exchange ideas and insight on the issues most pressing to your organisations. You can also catch up on the key takeaways from previous events.
