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The Role and
Responsibilities of the
Modern CFO
eople used to think that the the modern CFO are based on the company and should be able to
CFO was there to inform following four basic pillars: use this knowledge to provide
Pyou that when you required an independent perspective and
anything there is not enough Key Skills for the New CFO to challenge the business and
money or simply report after Leadership: operating teams constructively,
the reality. Today’s CFOs will ensuring that business decisions are
break away from the myth of the Today’s CFO has to have based on sound financial criteria.
number cruncher and think about the necessary leadership and We have to handle complex data
themselves as more of a strategic communication skills to be an to deliver insights and statistical
player in the business. effective business partner. We models that guide behavior and
have to give advice and advise, decision-making. The CFO should
Today’s CFOs need to be and give a voice of reason. We also identify opportunities for
innovative, follow best practices are often asked to lead group-
and know how to create greater wide development projects,
value for the company. Somebody and need to be able to translate
will always need to balance the detailed information into
books, crunch the numbers, and straightforward, succinct and
execute important routine tasks but usable communications. This is
the position of the CFO is much understood that it is also important
more complex today. to build a top talent pool within the
Given the CFO’s changing finance role and ensure the right
role, what are the key skills and talents and leadership skills are in
competencies a CFO needs to place.
have in order to fulfill its duty? Operations:
The day-to-day financial focus is
still necessary but is decreasing in They should have a strong
proportion to business leadership’s understanding of the business
demands. The skills required by model and industry of the
30 February 2020
