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Kandungan disediakan oleh The Future of Finance is Listening and Jack Sweeney. Semua kandungan podcast termasuk episod, grafik dan perihalan podcast dimuat naik dan disediakan terus oleh The Future of Finance is Listening and Jack Sweeney atau rakan kongsi platform podcast mereka. Jika anda percaya seseorang menggunakan karya berhak cipta anda tanpa kebenaran anda, anda boleh mengikuti proses yang digariskan di sini https://ms.player.fm/legal.
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995: Embracing Change to Energize Your Career | Dan Murphy, CFO, Commercetools

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Manage episode 415092986 series 1039141
Kandungan disediakan oleh The Future of Finance is Listening and Jack Sweeney. Semua kandungan podcast termasuk episod, grafik dan perihalan podcast dimuat naik dan disediakan terus oleh The Future of Finance is Listening and Jack Sweeney atau rakan kongsi platform podcast mereka. Jika anda percaya seseorang menggunakan karya berhak cipta anda tanpa kebenaran anda, anda boleh mengikuti proses yang digariskan di sini https://ms.player.fm/legal.

The way Dan Murphy sees it the CFO position demands that leaders always be kept on high alert. It’s a mindset that had led him to habitually monitor updates and alerts related to key vendors, including banking institutions. And so it was, in first quarter 2023 when Murphy recalls spotting a vague tweet hinting at possible financial instability at Silicon Valley Bank.

Despite the tweet’s uncertain implications, Murphy recognized the risks inherent in relying solely on one bank. He proposed a strategic move to company management: diversify the company’s financial reserves by transferring a substantial amount of their assets to JPMorgan as a precautionary step. His decision was not based on confirmed financial trouble at Silicon Valley Bank, but rather on a principle of risk management that prefers caution in the face of potential financial upheaval.

The board approved his recommendation, and the funds were shifted in time, safeguarding the company from any financial disruption that followed when Silicon Valley Bank’s issues became widely known. This proactive maneuver not only protected the company from immediate financial jeopardy but also served as a poignant lesson in corporate finance—be prepared for the unexpected by diversifying risk.

Dan Murphy’s quick response to a simple social media indicator is a testament to the vigilance required in the role of a CFO, particularly within the volatile environment of tech startups. His action taken while he was CFO of tech company Unqork reinforced the essential finance strategy of having multiple banking relationships, a practice Murphy tells us he has always championed, proving its worth in a moment of unforeseen crisis.

  continue reading

959 episod

Artwork
iconKongsi
 
Manage episode 415092986 series 1039141
Kandungan disediakan oleh The Future of Finance is Listening and Jack Sweeney. Semua kandungan podcast termasuk episod, grafik dan perihalan podcast dimuat naik dan disediakan terus oleh The Future of Finance is Listening and Jack Sweeney atau rakan kongsi platform podcast mereka. Jika anda percaya seseorang menggunakan karya berhak cipta anda tanpa kebenaran anda, anda boleh mengikuti proses yang digariskan di sini https://ms.player.fm/legal.

The way Dan Murphy sees it the CFO position demands that leaders always be kept on high alert. It’s a mindset that had led him to habitually monitor updates and alerts related to key vendors, including banking institutions. And so it was, in first quarter 2023 when Murphy recalls spotting a vague tweet hinting at possible financial instability at Silicon Valley Bank.

Despite the tweet’s uncertain implications, Murphy recognized the risks inherent in relying solely on one bank. He proposed a strategic move to company management: diversify the company’s financial reserves by transferring a substantial amount of their assets to JPMorgan as a precautionary step. His decision was not based on confirmed financial trouble at Silicon Valley Bank, but rather on a principle of risk management that prefers caution in the face of potential financial upheaval.

The board approved his recommendation, and the funds were shifted in time, safeguarding the company from any financial disruption that followed when Silicon Valley Bank’s issues became widely known. This proactive maneuver not only protected the company from immediate financial jeopardy but also served as a poignant lesson in corporate finance—be prepared for the unexpected by diversifying risk.

Dan Murphy’s quick response to a simple social media indicator is a testament to the vigilance required in the role of a CFO, particularly within the volatile environment of tech startups. His action taken while he was CFO of tech company Unqork reinforced the essential finance strategy of having multiple banking relationships, a practice Murphy tells us he has always championed, proving its worth in a moment of unforeseen crisis.

  continue reading

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