Other Ernst & Young material of interest to CFOs
3 Getting your house | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Related insights | |
 | Finance forte: the future of finance leadership A study of the future of the Group CFO role and what candidates, incumbents and the board need to do to keep up. |
Other Ernst & Young material of interest to CFOs
- From 'fiscal cliff' to 'fiscal minefield'
- Regionisation and the CFO's chaning role in Asia
- How sustainability has expanded the CFO's role
- Video: The CFO's role in sustainability initiatives
- Growing Beyond: a place for integrity
- Global compliance and reporting survey
- Measuring and managing liquidity risk
- Driving improved supply chain results
- Growing beyond: How high performers are competing for growth in difficult times
4 Funding, enabling
and executing strategy
CFO competencies
Core skills
- Funding the organization's operations
- Prioritizing investments
- Developing strategic plans to achieve corporate goals
- Understanding the key value drivers
- Turning strategic plans into operational plans and targets (including defining KPIs)
- Designing the implementation program
- Monitoring progress against strategy
Core knowledge
- Capital management
- Project financing
- Financial risk management
- Operational risk management
- Strategic and operational planning
- Performance management systems
- Program management
- Change management
Key experiences
- Involvement in determining funding requirements
- Securing funding for operations and major projects
- Management of working capital
- Implementing financial risk management strategy, e.g., interest rate, foreign exchange and market risk
- Developing strategic plans
- Managing large and complex improvement/change programs
- Managing a merger or acquisition
Key relationships
- Chief executive officer/chief operating officer
- Business unit heads
- Risk director
- Operations director
- External funding providers
- Key investors
- Treasurer
| Related insights | |
 | Drought or drowning? Cash challenges for CFOs Many companies are struggling to maintain liquidity. Others are stockpiling cash like never before. CFOs are facing new strategic and operational challenges. |
 | M&A and capital raising in mining & metals: the CFO perspective Four priorities for CFOs in mining & metals. Our survey looks at M&A and capital raising in the industry in 2013. |
Other Ernst & Young material of interest to CFOs
5 Developing and defining
organizational strategy
CFO competencies
Core skills
- Translating corporate goals into a clear strategy
- Identifying financial and risk issues in relation to corporate strategy
- Delivering a workable strategic plan within known constraints
- Thinking creatively/ conceptually strong
- Analyzing portfolio of opportunities
- Visionary/story-teller ability to build trust and motivate people
- Effectively communicating financial and risk issues to C-suite colleagues
- Providing robust financial challenge at C-suite level
Core knowledge
- Strategic and operational planning
- Knowledge of the organization's business
- Detailed knowledge of products/service lines
- Business model design
- Scenario planning
- Good overview of the industry structure and challenges
- Strategic frameworks and theory
- Awareness of the market and commercial environment
- Aware of industry and organization risk profile
- Awareness of IT as an important business enabler
Key experiences
- Strategy development
- Development and implementation of business plans
- Monitoring achievement of plans and targets and taking corrective actions where required
- Operational and financial risk management
- Product and market development
Key relationships
- Chief executive officer
- Chief operating officer
- Business unit heads
- Chief information officer
- Risk director
- Marketing director
- HR director
- Strategy director
- Corporate development officer
| Related insights | |
 | The DNA of the CFO: a study of what makes a chief financial officer This study provides insight into what it is to be a CFO today, exploring their aspirations, relationships and what makes them unique. |
 | Shifting up a gear: from corporate finance to corporate strategy How are finance executives creating value in their organisations, how are they measuring personal performance, and what stops them being effective? Find out here in The DNA of the CFO. |
 | Views. Vision. Insights. The evolving role of today's CFO CFOs’ involvement in their businesses is broad, their contributions to their organizations are manifold and the scope of their responsibilities is growing. |
Other Ernst & Young material of interest to CFOs
- Growing beyond: How high performers are competing for growth in difficult times
- The power of simplicity
- Video: 3 tips for CFOs developing a sustainability strategy
- Growing Beyond: a place for integrity
- Turn risks and opportunities into results
- Tax risk and controversy survey: a new era of global risk and uncertainty
- Managing indirect taxes in the supply chain
6 Representing the
organization to
external stakeholders
CFO competencies
Core skills
- Clearly communicating performance
- Providing perspectives on performance relative to main competitors
- Understanding main value drivers/key KPIs and initiatives to improve them
- Communicating positively about management of key risks
- Taking a forward looking view
- Anticipating and responding to questions from media, analysts and investor community
- Responding positively to issues raised by industry regulators
Core knowledge
- The organization's business and its industry
- The organization's products/service lines
- The market and commercial environment
- The impact of local, regional and global economies on financial performance
- Technical accounting to supervise financial statements
Key experiences
- Preparing financial information for external publication and communication to the capital markets
- Dealing with parties external to the organization
- Engaging with media
- Managing relationships with external auditors
- Managing resolution of key accounting and control issues
Key relationships
- Chief executive officer
- Chairman
- Executive and non-executive boards
- Other key governance committees (e.g., audit, remuneration)
- External auditors
- Media and investor relations
- Regulators
| Related insights | |
 | Back seat or center stage? CFOs and the media Media engagement beyond financial reporting and print media – the reported comfort zone of CFOs – is likely to be an increasing reality for a growing number of finance leaders. This report addresses the CFO's role in relation to the media. |
 | A tale of two markets: telling the story of investment across developed and rapid-growth markets How do you tell a tale of two markets? This report explores the role of the CFO in balancing investments across developed and rapid-growth markets and the way in which the CFO communicates this balance to investors. |
Other Ernst & Young material of interest to CFOs
The CFO of today
The DNA of the CFO: a study of what makes a chief financial officer
This study, based on finance leaders in Europe, the Middle East, India and Africa, provides insight into what it is to be a CFO today, exploring their aspirations, relationships and what makes them unique.
The average CFO
- Male, aged 42 years and eight months
- Considers five years and 10 months to be the appropriate tenure
- Highly educated with a finance degree, MBA or chartered accountancy qualification
 | CFO: staging post or career destination? |
Explore the full report or get the highlights by downloading our
At a glance guide.
Also available:
- Views. Vision. Insights. The evolving role of today's CFO.
- Shifting up a gear: from corporate finance to corporate strategy.
- The DNA of the Greek CFO.
The CFO perspective
Performing as a CFO
The Master CFO Series
A collection of studies on particular events and experiences that CFOs encounter as part of their role.
Drought or drowning?Many companies are struggling to maintain liquidity. Others are stockpiling cash like never before. CFOs are facing new strategic and operational challenges. We explore strategies to tackle them.
View online or download the
At a glanceguide.
A tale of two marketsHow do you tell a tale of two markets? This report explores the role of the CFO in balancing investments across developed and rapid-growth markets and the way in which the CFO communicates this balance to investors.
View online or download the
At a glanceguide.
What lies beneath?The opportunities in rapid-growth markets are undeniable. So too are the risks. Where others see primarily opportunity, the CFO must spot complexity — the costs both manifest and hidden.
View online or download the
At a glanceguide.
Back seat or center stage?Media engagement beyond financial reporting and print media – the reported comfort zone of CFOs – is likely to be an increasing reality for a growing number of finance leaders. This report addresses the CFO's role in relation to the media.
View online or download the
At a glanceguide.
The CFO of tomorrow
CFO and beyond
Appetite for CFO experience on boards is big and getting bigger. This study addresses the reasons why, and what it takes to make a successful non-executive director.
| | Proportion of serving CFOs at the largest companies with non-executive roles in 2002 and 2012 |
| | Last executive role for the CFO class of 2002 |
Explore the full report or get the highlights by downloading our
At a glanceguide.
Finance forte: the future of finance leadership
A study of the future of the Group CFO role and what candidates, incumbents and the board need to do to keep up.
| | Stepping stones of the EMEIA top 100 |
| | Routes to the top - career paths of the EMEIA top 100 |
Explore the full report or get the highlights by downloading our
At a glance guide.
Webcast
CFOs reveal hidden trends from earnings season
CFOs must stay ahead of vital business trends. Join our panel at 12pm ET on 12 June 2013 discussing the lessons learned from 1Q13.
Contacts
For further information on any of this material, or on our broader program of investment in CFOs, please contact:
Emma Dowding
CFO program lead for EMEIA
+44 (0) 20 7980 0152
Robert Brand
CFO program lead for the Americas
+1 201 872 5692
Sarah Buerckner
CFO program lead for Asia-Pacific
+852 2846 9888