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The CFO Journey
Opportunities and uncertainties facing the finance leader
Deloitte is pleased to share with finance leaders insights that may help tackle the major challenges now featuring in their agenda. In this transition towards an increasingly strategic role, one basic tenet is that CFOs should pay focused attention to making sound decisions that may lead them to a world of new opportunities and help navigate more confidently through the changing uncertainties of the finance environment.
Opportunities and uncertainties – CFO and the transformation of the finance culture in the organizations
For CFOs, playing a leading role in building a holistic view of the finance function is a huge opportunity to take on an increasingly strategic role in companies. Achieving this objective while dealing with the constant uncertainties and market pressures are fundamental to the CFO journey.
Career – Are you a strategic CFO?
Today´s business environment requires the CFO to be not just a strategist but a “pragmatic strategist”. To make this happen, it is necessary to reflect on seven essential questions regarding his/her company and define how to effectively contribute to the growth of the business through tangible and realistic actions.
Talent – Do you have the finance talent you need?
A CFO needs a qualified team and in a size that is sufficient to respond to their responsibilities, concentrating on the development and on the execution of the strategy. But how can CFOs identify and retain the best talents in today´s scenario?
Compliance – Anti-corruption program
In light of the new anti-corruption regulations, both abroad and in Brazil – such as the “Brazilian Clean Company Act”, CFOs need to focus on structuring robust compliance programs and ensure that they are really effective.
Capital – Making working capital work
The challenges to optimize the working capital are huge, but there are ways to address them. For CFOs charged with growth and determined to steer strategy, there may be no better place to look for that cash than in working capital improvements.
Relationships – The power of business chemistry
Having interpersonal skills is a key factor for a CFO to be successful in his/her career. The so-called “business chemistry” – a technique which uses a set of behavioral questions to identify dominant personality patterns, can help you in this task, by understanding how business people can be sorted into Drivers, Pioneers, Integrators and Guardians.
Assertiveness – Making decisions that matter
Considering the high likelihood that bad decisions are often made in the organizations, CFOs and CIOs should seek to become familiar with the nuances of the behavioral economy, which studies the human fragility mechanisms that cause people to make wrong choices.
Technology – IT by the CFO´s lens
Evaluating IT is no simple matter. It requires focus on three specific areas – communication, governance, and assessment – to create an overall framework for analyzing current and future IT capabilities.