Canadian CFOs must ensure the right opportunities are available to the next generation of finance leaders
In the first chapter of our DNA of the CFO series, “Do you define your CFO role? Or does it define you?”, we highlighted the disrupting forces causing the traditional definition of the CFO role to fade. In the second chapter, “Is the future of finance new technology or new people?”, we articulated the impact of advances in new technologies — such as in-memory computing, the cloud, analytics, mobility, artificial intelligence (AI), blockchain and robotic process automation (RPA) — on what is now asked of a finance function.
As businesses and their finance functions continue to evolve, future CFOs must be sufficiently equipped to cope with the growing complexities of the role and the new demands of business partnering, strategic advisory and organizational leadership. In addition to carefully calculating their own career paths and personal branding, finance executives must also ensure the right experiences and opportunities are available to the next generation. The development of leadership qualities and business capabilities beyond finance is critical in the journey to building the right team and equipping successors.
I’m pleased to share with you part three of our research, which outlines the CFO leadership development plan and looks at how CFOs can re-evaluate their own competencies, help drive strategy and innovation, and understand the external forces shaping the business environment.
This report draws on the results of our survey of 769 finance leaders worldwide and in-depth interviews with 22 CFOs from leading organizations. In the first pages of this report, we provide a snapshot of how the 32 Canadian respondents compare to their global peers and discuss the implications for redefining the path to a future finance leader. In the latter part of the document, we outline the global findings in further detail.
We hope you will find this report a useful tool as you define your role as a finance leader, and that of your finance function, both now and in the future.
John Candeias, PMP
604 891 8216