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Leading the Finance Function of the Future
Manage episode 407170194 series 3558478
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Despite the effects of the great resignation, there is still appears to be a scarcity of financial talent. In our latest episode, host Anne-Marie Henson, Partner, Eastern Canada & SMB Leader for Markets & Industry Canada, and Barbara Palmegiani, National Leader for CFO Services at BDO Canada, explore the challenges of hiring and retaining financial talent and the evolving role of CFOs, emphasizing their transformation into Chief Value Officers (CVOs) with a focus on purpose and value. The episode underscores the importance of CFOs cultivating "value acumen" and a growth mindset through continuous learning. Additionally, it addresses leadership styles, diversity and inclusion, and the CFO's pivotal role in leveraging data analytics and technology to drive organizational value.
What you’ll hear in this episode:
[1:42] The great resignation impact; is it still happening?
[5:33] Exploration of the evolving responsibilities of CFOs and the concept of becoming Chief Value Officers (CVOs).
[10:38] Defining value and the CFO's role in driving value.
[11:33] Skills CFOs should develop to navigate the changing landscape.
[16:12] Evolving leadership styles for CFOs, with an emphasis on “extreme ownership” and the shift towards a more sustainable, inclusive approach.
[19:51] The importance of diversity, equity, and inclusion in building effective finance teams.
[22:59] Data ownership and technology.
[26:17] Advice for CFOs and controllers.
Mentioned:
Quotes:
“As we continue to manage so much uncertainty about the future, we have to be adaptive so we can't be afraid to be wrong.”
"There are definitely more and more finance teams that are much leaner these days."
"If you talk about what does value mean, it is very widely held that there is no one definition of value for all CFOs in all organizations."
"CFOs need to manage legitimate short-term performance pressures and, at the same time, drive long-term behaviors."
"As a key player on the executive team, it's that play to win attitude. You have to know that you're not afraid to fail, that whatever you undertake, you either win or you learn along the way."
"Be not afraid of going slowly. Be afraid of only standing still."
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