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The Key to Effective RiskManagement in Business with Chris Weeks, CFO Center UK In the latest CFO Club podcast, we had the pleasure of hosting Chris Weeks from CFO Center UK. Chris shared invaluable insights into effective riskmanagement strategies and how businesses can better prepare for uncertainty. The key takeaway?
Recognizing the need to enhance my managerial capabilities, I pursued a Postgraduate Diploma in Management, which equipped me with essential leadership skills. Each country has its own business norms, regulations, and communication styles, so I had to be flexible and open-minded in my approach.
Ethical Leadership Because Orange Jumpsuits Are Not a Good Look In todays business world, ethics play a crucial role in corporate leadership. Ethical leadership is more than just following rules; it is about making decisions that are fair, transparent, and responsible. What is Ethical Leadership?
Finance leadership is undoubtedly not a cakewalk, as it involves various roles for the organisation to grow and drive value. Look for organisations with cultures that resonate with your values and roles that challenge you or expand your leadership skills,” Wong advises.
Members’ Profile: Rofhiwa Irene Singo In this edition of our CFO Spotlight series, we are featuring Rofhiwa Irene Singo, an accomplished finance leader whose journey is a testament to resilience, adaptability, and impactful leadership. Share your favorite leadership lesson. How do you balance your personal and professional life?
In delivering results, 15% say cost control must be looked into, while 10% voted for riskmanagement and 7% on smart investment decisions. Inarguably, the finance leadership position now is a totally different role, ever-evolving as it has become a merged function for accounting and the internal control systems.
Harding emphasises the importance of "the abilities to influence, the abilities to lead, the abilities to communicate and the ability to inspire." The ability to analyse data, identify insights, and communicate those insights effectively is highly valued.
What Every CFO Should Know to Protect the Business (and Their Career) You dont need to be an actuary or compliance expert to understand risk. Riskmanagement isnt a luxury, its a core leadership function. This article is your guide to getting ahead of risk, before it gets ahead of you. The board expects more.
The CFO’s role inarguably has evolved over the years, beyond traditional financial management encompassing strategic decision-making and risk mitigation. Further, riskmanagement is another area where the CFO shines. They know where sources are being spent and how to optimize those expenditures,” Johary explains.
In these regards, CFOs will seek people with traditional financial skills, in addition to interpersonal skills like leadership, empathy, and adaptability, and cognitive skills like critical thinking, project management and decision-making. The post Digital acceleration to drive finance leadership in 2022 appeared first on FutureCFO.
Providing support to an organisation's finance team is a must in intensifying the focus on riskmanagement. In the Association of Chartered Certified Accountants' Rethinking Public Financial Management report, 73.4% of respondents believed risks to their organisations would increase in the future.
Paula Leynes Felipe, Regional Manager, Upstream and Advisory, Eastern and Southern Africa, Financial Institutions Group, International Finance Corporation. She led the RiskManagement Practice Group in IFC Asia prior to her mangerial role in Africa. Because, again, its going to affect the overall asset portfolio at the back.
Welcome to the world of risk-adjusted forecastingthe CFOs answer to uncertainty, complexity, and volatility. One that separates reactive finance from strategic leadership. Why Risk-Adjusted Forecasting Is Non-Negotiable Lets be blunt. Its about rewiring how finance interacts with risk. Its a mindset shift. Markets shift.
Members’ Profile: Yvonne Dias In this edition of CFO Club Africa’s Members Spotlight, we are introducing Yvonne Dias, the Group CFO at MINT Management Technologies. This involves honest, transparent communication with all parties involved. Tough conversations are often necessary to address obstacles directly.
She is driven to deepen her expertise in digitalization, AI, and machine learning , applying them to improve financial wellness and business efficiency and aims for international leadership roles that contribute to the economic development of Africa and values cross-disciplinary collaborations for impactful projects.
With increased risk comes the need for increased duty of care. A realistic duty of care policy goes hand-in-hand with effective travel riskmanagement. That risk varies based on an organization’s size, industry, and scope of business travel. And setting a high bar for duty of care means actively tracking employees.
Effective communication and collaboration are no longer just nice-to-have — they are essential for driving success. The Office of Finance is at the heart of every organization, overseeing financial strategy, riskmanagement, and operational efficiency.
For instance, collaborating with international clients has taught me the importance of adapting my communication style and accounting methods to align with their expectations and values. Leadership and communication skills are also essential, as you’ll need to clearly convey financial insights to both financial and non-financial stakeholders.
Don’t let scenarios muddy communications: Leaders can use scenarios without abdicating their leadership responsibilities but should not communicate with the organization via scenarios. Anyone in an executive position in an organization must provide clear and inspiring leadership.
At this time, consultants can work with leadership to create a roadmap for value creation, addressing areas such as operational improvements, revenue growth, and riskmanagement. Bringing in a consultant during these phases can prevent future pitfalls and streamline the process toward a successful exit.
However, in today’s business environment, stakeholders are increasingly looking to boards and senior management to better manage strategic, regulatory, and other risks – while they make decisions that impact performance. Gallagher, and Renee Yozzi, Director, Strategic and Enterprise RiskManagement at Benjamin Moore & Co.
Key Financial Readiness Considerations To prepare for the scrutiny of public markets, leadership teams must assess their ability to: Generate SEC-compliant financial statements within required timelines. Strategic Finance and FP&A Support Strengthening financial planning, forecasting, and investor communication capabilities.
The Coffee Bean & Tea Leaf ), says the appeal of the financial controller position lies in blending analytical depth with visionary leadership, overseeing financial strategies across sectors. It’s also the riskmanagement part of the role that keeps the role exciting, crucial, and a continuous growth area,” Ramon adds.
Finance leaders now are faced with the task of identifying and mitigating ESG-related risks, allocating resources towards sustainability initiatives and communicating the organisation's ESG performance to stakeholders. Another trend is the growing focus on supply chain transparency and Scope 3 emissions reporting," Soh points out. "As
Among the many great topics on the agenda at the Argyle CFO Leadership Forum in Dallas was a session titled “Managing and Minimizing Enterprise Risk.” Another panelist highlighted their investment in inventory, as well as managing growth in the business. How does incentive compensation play into riskmanagement?
The journey from a Chartered Accountant (CA) to a Chief Financial Officer (CFO) is a transformative one, requiring a shift from technical expertise to strategic leadership. It identifies 34 competencies structured within the four general roles of a CFO: Steward This role focuses on accounting, control, riskmanagement, and asset preservation.
Identifying investment objectives and achieving stakeholder buy-in is the critical first step in connecting these objectives to portfolio construction.
AI in the “Real World” While these powerful tools seem to have a near mastery of natural language communication, they are not necessarily designed to possess many of the skills required by finance and accounting professionals. His expertise spans financial leadership and strategy, finance automation, data science, and operational efficiency.
Finance or RiskManagement Committee. Meanwhile, audits, financial management, and risk mitigation fall under the purview of the Finance or RiskManagement Committee. It reviews financial statements in detail and makes recommendations to the full board on how to maximize resources while minimizing risk. .
Mornings are typically all about concentrated focus, starting with ensuring alignment with our clients across key objectives like riskmanagement, credit solutions, and employee benefits strategies. At a high level, a normal day involves strategic planning, teamwork, and tackling challenges, but most days are diverse and varied.
Finance leaders are wedged into a position of not only overseeing the implementation of financial controls and riskmanagement strategies to safeguard their organisations throughout the transformation journey, but also in spearheading the company to find and implement initiatives to drive value. One of which, of course, is ESG.
The management takes great pains to ensure that the plans are communicated regularly throughout the whole Group through various mediums such as town halls, email blasts and newsletters. There is also a lot of work involved in managing morale and inculcating the right values and cultures within the organisation.
The CFO role is multi-faceted and includes everything from financial planning and analysis to business budgeting, financial decision-making, and riskmanagement. CFOs are some of the highest-paid finance professionals because they have experience and networks and excel at financial leadership. Financial Manager.
Create and communicate a well-defined plan for how you intend to bring advanced AI tools into your organization and use them for transformation. The post Preparing Your Finance Organization for the New Era of AI first appeared on CFO Leadership. 1] Robert Half and Protiviti are members of the Microsoft AI Cloud Partner Program.
Boardroom leadership, including chief financial officers, needs to manage artificial intelligence risks to drive trust, according to the Association of Chartered Certified Accountants. Financial leaders and controllers will have to be confident about the adequacy of oversight and controls of AI systems.
In developing the CFO(SA) designation, we identified 34 competencies and four pillars that the Modern CFO needs to fulfill to excel in their leadership position. Steward Role & Competencies: Accounting, control, riskmanagement and asset preservation are the proficiencies of the Steward. Strategic riskmanagement.
Jackson Ng Ng thinks the CFO oversees the implementation of robust financial controls and riskmanagement strategies to safeguard the organisation throughout the transformation journey. Overlooking cybersecurity risks or neglecting to implement adequate safeguards can expose the company to potential threats,” Ng says.
Communicate with clients, investors, company leaders, and stakeholders. Manage cash flow and plan for financial needs. Assist with riskmanagement, audits, and research. Collaborate with other executives and department heads on budget creation and management. Resolve accounting and finance problems.
You need constant monitoring of your economic outlook because then you can adjust your riskmanagement strategy that will help you mitigate third-party risks." Everyone else in the company is trying to meet their KPIs, grab whatever they can find on the table, and pretty much have zero already got a risk, right?
To create more business impact, finance functions may need to reimagine their strategy, leadership, operating model, talent and/or technology ,” said the analyst. Post-pandemic recovery has brought forward a slew of transformations that call for new solutions, especially in areas like spend management.
CPM involves a greater emphasis on improving communication and business strategies within a company. Given its significance to C-suite positions, many organizations now have a department dedicated solely to strategy or performance management (occasionally merged with project management).
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