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As the CFO’s role expands and takes on added importance, our guide explains the essentials you should look for in your next Chief Financial Officer.
Over half of CEOs in a 2015 KPMG global survey predicted that of all the C-suite roles, the CFO function will become more important over the short term. And that’s exactly what happened, and is continuing to occur.
Perhaps the expanding role of the Chief Financial Officer is partly driven by the need to better manage the financial risk and internal controls that go to the bottom line. Or the need to have someone manage cross-company initiatives like digital transformation.
CFOs are expected to take on much more operational responsibility. This makes sense because they have a view of the entire business and what makes it work.
Given the importance of the role to any company’s financial health and long-term success, appointing the right CFO is critical.
Judging by the current lack of confidence in the current CFO's ability to lead through disruption, as revealed by our Leadership Confidence Index, the challenge is a steep one.
In a tight talent market, hiring the right person can be just as daunting a task as the CFO role itself.
A good place to start is with an in-depth understanding of the role of the CFO today and how that role is likely to evolve.
That’s exactly what our guide is designed to do. It maps out the skills and traits of a great CFO, and will certainly come in useful for CEOs, HR Directors and Boards looking to hire their next senior business partner.
“CFOs are held to a higher standard than anyone in the company – even more than the CEO. It is a privileged position given the ability to have a powerful impact on the direction of the business.” Ross Woledge (Toronto)
CFO appointment advice built on experience
This guide is based on our experience of leading successful CFO searches across the world in every industry. It also reflects our clients’ evolving expectations and needs when hiring CFOs to meet their needs. And it also a product of our analysis of the current market trends across the global Odgers Berndtson network.
Our guide covers the following:
- What does today’s CFO role look like?
- Which personal qualities are a must?
- How is the role likely to change?
- What’s in the CFO’s management portfolio today?
- What’s the impact of technology on the role?
- Where are today’s CFOs coming from?
