Evolving role of CFOs in new eraBy Rakesh Sud

Director- ACMC (AIMS) Acharya Institute Of Management &

Sciences@rsud.in sud.rakesh@gmail.com

91 953515875728k+ Connections on Linked In

Today we live in a changed world

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

CFO role evolves

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

CFO is like a doctor

Free advise required at parties

CFO are expected to be

No more number-crunching

Most CEOs of leading companies seek a CFO who can help them

Today’s CFO’s Challenge

Key competences for successful CFOs.

Experience in business units outside headquarters

To enjoy real influence with the CEO,

Despite this network of close relations- Core values of CFO are

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.

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.

The ability to deliver business results

CFOs become:

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

We are in Demand

• unique perspective and • financial discipline

• ensures that we are in greater demand in the company-wide strategic decision-making process

Final parting Words