Become a Critical Voice
The Implementation Skills competency contains the following five skills:
Today's Newsletter will focus on Skill 3: Become a Critical Voice?
CFOs often face challenges in establishing themselves as influential voices at the board level due to preconceived notions about their role. To overcome this, they must provide strategic oversight, foster cross-functional understanding, and align with broader business goals beyond just finance. To be a successful CFO and a critical voice at the board level, it’s essential to go beyond traditional financial oversight and position yourself as a strategic leader who influences the entire organization.
Key Steps to Becoming a Critical Voice:
To shift the perception of finance as merely an administrative function, CFOs must demonstrate their ability to add value, support others in achieving their goals, and build respect across the organization. This requires balancing strategic impact with reducing negative perceptions tied to the traditional guardian role.
领英推荐
A key part of the CFO role is the ability to challenge the CEO and Board, especially when enthusiasm for new opportunities may overlook necessary risks. While this often means pushing back on ideas or budgets, it’s crucial for sound decision-making. Despite the potential for being seen as the “blocker,” this is essential for maintaining a grounded perspective on the company’s future.
In a discussion with Hannah Munro, we explored these competencies further. Hannah shared insights on how finance leaders can shift their role from an administrative function to a strategic partner who influences the organization’s direction. She emphasized the importance of providing strategic oversight, fostering collaboration, and challenging decisions when necessary to ensure balanced outcomes. This conversation ties directly into the broader roadmap for becoming a critical voice, offering actionable strategies for CFOs to drive meaningful change and align business goals beyond finance.
Watch the full discussion here: https://www.youtube.com/watch?v=lEAkiBe6BxM
To truly elevate your impact as a finance leader, don’t miss the chance to dive deeper into these insights. Join us for an exclusive CFO preview event where we'll explore these concepts further and help you unlock your full potential.
Book Your Place here.
Head of Finance | Lead Finance Coach, Journey to Wealth | Board Member| Transforming Finance Leadership | Founder, The Precious Seeds Foundation | Creative Lead, The Eemage Group
4 个月These are really invaluable insights. Thank you.? Particularly love the bit about being able to challenge the CEO and Board especially as certain risks may have been overlooked in the excitement to deliver new and dynamic projects.
Experienced Finance Director | ACA | FP&A Expert | Transforming Businesses with Financial Data-Driven Insights | AI for Finance enthusiast
4 个月Thank you for sharing these valuable insights! It's crucial for CFOs to not only engage in strategic oversight but also to leverage data analytics to drive predictive insights and proactive decision-making. Embracing digital transformation and advanced financial technologies can further position CFOs as forward-thinking leaders who not only support but also anticipate the needs of the business. Additionally, fostering a culture of continuous learning within the finance team can ensure that the organization remains agile and adaptable in an ever-evolving business landscape. Looking forward to the upcoming CFO preview event for more in-depth discussions!
CFO & NED, Helping Clean Energy Scale Up, Guiding Boards, | Non-Executive Director | Committee Chairman | Risk Management | Strategic Finance & Exit | Intellectual Property | Circular Economy
4 个月I have enjoyed reading this post from Dan Wells "Become a Critical Voice". I believe that a strong CFO should be deeply passionate about the process of creating wealth. Consequently, a business that lacks a CFO who is actively engaged in this process is likely to perform significantly worse than one that has a CFO fully involved in wealth creation. Specifically, a CFO who is solely focused on administrative functions will be unable to assist the business with strategies for high valuations, which demand active IP monetization, investor networking, marketing support, among other activities. Frequently, job descriptions and recruiters focus on a checklist of tasks unrelated to the actual quality sought, which, in my opinion, is a significant oversight in the pursuit of the right talent. No task list or CV can truly demonstrate how a CFO would react in the face of a sudden crisis, such as an unexpected hostile takeover, a case of fraud, a new market threat, or a shift in investor sentiment. These are examples of the numerous unique situations that a CV cannot predict. #cfo #valuation #wealthcreation #admin #influence #innovation I would welcome views from other fellow CFOs, entrepreneurs, business directors, investors