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Review: There is no more important time than now for the CFO to get back in charge. We didn’t fully understand risk management and the controls needed to go around them. Companies now need to restore the CFO’s rightful position of understanding the drivers of value and risk management, so that they are able to provide independent challenge. This book shows you how
- Allister Wilson, Partner, Ernst & Young
It’s as though the authors were reading my mind when they wrote this book. I truly believe that the time has come for CFOs to realize their full leadership potential
- Zarin Patel, CFO, BBC
As a former CEO, financial regulator, and current board member, I would want my senior management team - and especially my CFO - to embrace the ideas and mindsets presented in this book
- Ernst Csiszar, MasTec Corporation
Description: In the aftermath of the financial crisis, the spotlight on the role and activities of the CFO is even brighter. Good Business in an effective engine for society, and good business needs effective oversight - and that is the job of the CFO.
Specifically, CFOs need to accelerate three aspects of their role:
• Develop dynamic and distinctive value creation capabilities
• motivate and align increasingly diverse employees inside and outside of the finance function
• design and operate effective financial processes for internal and external customers
The winning CFOs in the next decade will be the ones who get the basics right, who prioritize their efforts, and who invest in the leadership development that creates the institutional capacity to achieve and sustain leading industry performance. CFO must embrace the new challenges and opportunities created by the financial crisis.
Contents: Introduction • Becoming a custodian of value • The challenge • The traditional CFO role • The new CFO role • Develop your people too • The new CFO mindset • Summary... and looking ahead • Strategic leadership • Seven things you must do well • Being a credible leader • Good communication skills • Influencing - not telling • ‘Yes, and’ decision-making • Learn from failure • Derailers • Networking to get the broader picture • Summary... and looking ahead • The finance factory • A process perspective • Finance and the process network • Achieving a great finance factory • Step 1: Get strategic objectives straight • Step 2: Decide how much value-adding you want to do • To outsource or not to outsource? • Step 3: Resource processes appropriately • Step 4: Get your hands dirty in process design • Step 5: Build in continuous improvement • Summary... and looking ahead • Establishing and maintaining robust controls • What do we mean by control? • What stops us? • A model for managing control • Starting at the bottom - internal control • Level 2 - systems and processes • Level 3 - operational analysis and reporting – KPIs • Level 4 - business level reporting and monitoring • Level 5 - strategic planning • You need to develop your own control expertise • Summary... and looking ahead • Deepening and spreading risk management • Risk management - the complement to robust controls • How we define risk • How control and risk management fit together • Why common risk approaches fail • The risk management process cycle • Step 1: Risk identification • Step 2: Risk prevention • Step 3: Risk mitigation • Step 4: Risk recovery • Summary... and looking ahead • Growing value through investment • Defining investment • Issues finance needs to confront • The finance investment strategy • Strategic cost management in finance • The role of finance in sound investment • Finance and business negotiations • Summary... and looking ahead • A custodian of value • Self-assessment • Twenty questions • Conclusion • Appendix: The finance spectrum • Index. ISBN - 9780749465179
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Pages : 192
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