What CFO are asked for in the current situation

I recently read a piece of news that allows me to address this issue. The CEO of a leading American technology company suddenly announced to the Board that he was leaving, and they were almost forced to appoint the CFO as the new leader because they did not have a defined succession plan. The CFO (of course badly appointed by the Board on an “interim basis”) took the reins without being fully prepared, but with the confidence that he knew the numbers and the operations of the company well. Like him, other CFOs have been appointed CEO or General Manager of companies as part of a trend that seems to take hold in succession processes, which half of local and international companies live as part of ensuring the permanence of their business. The reason is simple. Although the profile of the CEO is normally aligned to a commercial area, the CFO is the other great strategist of a company by gathering skills focused on analysis, data generation, strategy creation and, therefore, a deep understanding of the operation Of a company. Numbers can tell the story of a company and allow you to know it in depth, they also allow you to know how an organization works and are an added value that only CFOs fully master. The technical skills that the position of CEO requires and that we headhunters look for in candidates are business knowledge and commercial capacity, focus on strategy, financial analysis and orientation towards profitability (the latter are qualities that already are part of the profile of a CFO). However, soft skills such as negotiation, the ability to react to adversity, political waistline, stress management, leadership, change agent and effective communication are also required in a CEO, which although any executive requires them of the C-Suite, they are not always part of the financial leader's DNA. And it is not enough to be an experienced CFO with good skills that we can call
tougher as are the experiences and the expertise acquired in the professional career, or the management of
crisis and obtaining results. Today it is more important to have a good level of development of the
"soft and social" competencies. These are more difficult to detect, measure and evaluate, but they are key
take on another job and adapt to the new culture, or to grow in one's own company and also to
subsist in the position of CFO.
Why do I say that it is important to know and evaluate these soft and social skills?
Because in
In general, traditional CFOs are perceived as follows:
? They are well prepared academically (accountant is one of the most complete professions)
? They are numerical and therefore are more inclined to be "task oriented than people oriented"
? They are more tactical than strategic (look more at accounting than planning and management)
? In general they are serious, not very empathetic, introverted, and little team developers. Sometimes
quiet, disciplined and not very sociable
? They are loyal, they take care of the company, they have ethical values, but they can be seen as "Mr. NO"!
But these features and overview probably
are not the most suitable to continue
being a CFO in the current business situation or even prevent their growth because it is
requires:
? Ambition and believing that "If I can do it! Ambition and believing that" If I can do it! / ”/ Encourage yourself to get out of your comfort zone encourage yourself to get out of your comfort zone
? Have good team management, Have good team management, leadership and vocation to develop people leadership and vocation to develop people
? Communicate well Communicate well, have, have good good public speaking, public speaking, empathy, listening and power of influence empathy, listening and power of influence
? Have a long-term strategic vision, knowledge of the business as a whole, have a longer-term knowledge of the business as a whole, have a certain commercial profile, a certain commercial profile
? Be sociable, be sociable, be techser tech - friendlyfriendly, flexible and, flexible and open to innovation, open to innovation ..
? Have contacts and a good Have contacts and a good networking (internal and external) networking (internal and external) and ideally and ideally work outside the country work outside the country (not only cabotage experience) (not only cabotage experience)
Then,
So, let's analyze what challenges they should face and what competencies they should develop. Let's analyze what challenges they should face and what competencies should be developed by those CFOs who want those CFOs who want to remain current, remain current, or who have or have the potential to continue growing and to continue growing and being candidates for a CEO position.
First
First, I would say that you have to be, I would say that you have to be brave, willing to take courage, willing to take risks and have ambition, risks and have ambition to grow in your career. Many CFOs have had a rather conservative career and career. Many CFOs have had a rather conservative career and do not "raise" their hands or "raise" their hands to ask for an opportunity for greater responsibility. They are not very proactive in taking control of their career and asking for an opportunity of greater responsibility. They are not very proactive in taking control of their career and expect to be recognized. By the counter they hope to be recognized. On the contrary, io, you have to take risks, worry about it, take risks, worry about continuous learning, be continuous technology friendly, be technology friendly, and be interested in having one, and be interested in having a comprehensive vision of the business and not just a comprehensive view of the business and not just seeing the "numbers" seeing the "numbers" (which is so typical of accountants) (which is so typical of accountants).
Second
Second, not only must or must have experience in managing and managing people (management) but also people (management) but also be able to be able to exercise leadership exercise leadership of your team. They are two different aspects. Managing people is more operational and, while on your team. They are two different aspects. Managing people is more operational and, although it is not something easy because nobody is born knowing how to be a boss, being a leader is still not something easy because nobody is born knowing how to be a boss, being a leader is still much more difficult and sometimes it is much more difficult and sometimes you have that competence and sometimes you don't. You have to be appointed "boss" as young as possible and realize that competence and sometimes you don't have it. You have to be appointed "boss" as young as possible and realize that a professional with the following characteristics that a professional with the following characteristics is not a good boss: they are not a good boss:
? be tactical and not strategic / give be tactical and not strategic / give orders only, orders only
? no human contact / no rapport with people no human contact / no rapport with people
? do not seek to be recognized or be an example of your team do not seek to be recognized or be an example of your team
Currently it is not enough to be a good manager having a participative management style, human
Currently it is not enough to be a good manager having a participatory management style, human touch, concerned with developing its people and building good teams (with people even better than touch, concerned with developing its people and building good teams (with people even better than one). one). This is necessary, but not enough to get This is necessary, but not enough to become a respected and admired leader to be a respected and admired leader. . Leadership is something that is within the DNA Leadership is something that is within the DNA of each professional that can be developed, but not of each professional that can develop, but it is not always possible to develop in its fullness. It is always advisable to have an evaluation, it is always possible to develop in its fullness. It is always advisable to take a management assessment to get to know each other better, get good feedback, determine actions to get to know each other better, have good feedback, determine development actions and look for a good mentor ( better internal than external). development and looking for a good mentor (better internal than external).
Third
Third, you have to know the business in an integral way, know the business in an integral way and, in particular, and, in particular, its most complex part, which is the most complex part, which is the commercial one, and try to commercialize it and try to do it. in the field visiting clients, seeking to close deals and understanding what to do in the field visiting clients, seeking to close deals and understanding what a good customer experience means. that means a good customer experience. I find many CFOs who are more than saying "I don't know. I find many CFOs who are more about saying" can't "than trying to see how it is done to" help "those" foolish understand "than trying to see how it is done to" help ”those“ commercial fools ”. There is being ercial ”. There is being a generalist and leaving the silo of the generalist function and leaving the silo of the function (get out of the office!) (Get out of the office!), Understand the political and power networks, understand the political and political networks. power of companies and do a lot of internal and external networking. This will facilitate the performance of the day of the companies and do a lot of internal and external networking. This will make it possible to facilitate day-to-day performance (and have timely (and have career opportunities), develop influencing and collaboration skills and career units), develop influencing and collaboration skills, and also work intertwined as well as work together. inter-functional mode. functional.
Bedroom
Fourth, there are personality traits that help you grow as being, there are personality traits that help you grow like being humble, communicative, humble, communicative, brave, standing up, and being brave, standing up, and being determined always looking for new challenges determined to always look for new challenges. You have to try to work. You have to try to work outside the country, either assigned or by projects, since you are outside the country, either assigned or by projects, since this multicultural experience will open their minds, multicultural experience will open their minds,,
understand other idiosyncrasies, be more flexible and adaptable to new structures
understand other idiosyncrasies, be more flexible and adaptable to new organizational structures. Also, organizational tures. In addition, relationships are cultivated, relationships are cultivated ((network) network) which are often key in the careers of executives.
Fifth,
Fifth, you have to have a high capacity to adapt, the ability to adapt and adopt and adopt Digital Transformation Digital Transformation that already impacts that already impacts all businesses. Power to all businesses. To be able to understand how to work for projects Understand how to work for projects in organizations in “lean”, more lean ”organizations, more horizontal and transparent horizontal and transparent, where it will be necessary to manage diverse teams and of several generations, where it will be necessary to manage diverse teams and of several generations, and with a lot of technology, a lot of technology tucked in everywhere. stuck everywhere. The management of technology tools management (beyond technological tools (beyond Excel), automation and process optimization are key Excel), automation and process optimization are key in a modern CFO. In a modern CFO .
Finally, he stressed that a good CFO has to, “
Finally, he stressed that a good CFO has to, “not only know not only what to do, but also how to do it, but how to do it” and here, and here, in “how” values, soft and social competencies weigh In this new digital world, volatile, uncertain, complex and ambiguous, where it will be necessary to, volatile, uncertain, complex and ambiguous, where many will have to go through many changes .. It will be a new conjuncture called VICAVICA to which a new paradigm is added to which is added a new paradigm more oriented to action and work in yes they are called action oriented and work themselves which are called RUPT (rapid, unpredictable, paradoxical and RUPT (rapid, unpredictable, paradoxical and tangled) tangled) which will force those ambitious and capable CFOs Being alert, prepared, and willing will force those ambitious and capable CFOs to be alert, prepared, and willing to face it to be not only current but also to be able to become a successful future CEO. face it to be not only current but also to become a successful future CEO.

Eduardo Suárez Battán

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