Chief Financial Officer, What CFOs do, the influence they have, and why it matters, Jason Karaian

Love
March 19, 2015
Friendship & Family Theory
April 9, 2015
CFO

CFO

I picked this book at  a bookstore in Qatar and didn’t think it was worth buying it. So I didn’t.  Just a couple of days ago, when my fellow Directors at Questworks appointed me to be their CFO, I took interest after my CEO gave it to me. So of course, when  you get a title in a firm that is growing and taking shape ( 70 + staff)  and you have to update your linkedn as CFO, you have to  know what those CFO’s do 🙂  So I picked it up and read it within one day over Easter weekend

I must say, Chief Financial Officer, was useful  to know more and more that Chief Financial Officers has moved far away from accounting/finance role to more of a evidence based champion and sober supporter of company strategies. CFO’s with their quantitative backgrounds are becoming more and more the validaters of strategies. And of course the investor story tellers… Basically your CFO should challenge your  plans with evidence. And he will not just shoot down ideas that don’t meet the ROI criteria. He should look for ways  to make it work.

With big data, IT & Information systems, CFO’s now have a huge asset in  telling the stories- not just of the past but hopefully of the future of their organizations through analytics…

Some Data & Trends

  • Rise of CFO’s and fall of COO
  • More CFO’s becoming CEO’s..Around 50% of UK’s 2012/13 CEO’s  had finance background
  • CFO’s roles being more and more front line than back office…On one
  • CFO’s make most of their earnings from stock based compensation
  • Most CFO’s took up their current roles because of  relevant industry experience and general management experience

This book as I was warned by my Patner, has excessive praise for the role that CFO’s play. But good read anyway for anyone helping a company tell their numbers story or just use evidence (facts, data, numbers) to validate and support strategies

 

 

 

Comments are closed.