1 Contents Environment Top 10 Business Risks – 2010 Facets of CFO Role Balanced Score Card – Business & Finance Evolving role of CFO
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1
Contents
Environment
Top 10 Business Risks – 2010
Facets of CFO Role
Balanced Score Card – Business & Finance
Evolving role of CFO
2
Environment
U.S.A.
Continued economic slowdown
High household debt
Rising unemployment
High fiscal deficit
Credit rating down grade
Contd.
3
Environment
Europe
Sovereign debt problems
Slowdown in economic growth
Inflexibility due to common currency
Contd.
4
Environment
Japan
After effects of Tsunami
Risks relating to nuclear plant and power shortages
Stagnated economy
Contd.
5
Environment
Asia
Robust domestic demand
Rising inflation driven by commodity prices
Large capital inflows
Compulsion to maintain higher growth rate to control unemployment
6
Top 10 Business Risks - 2010
1. Regulation and compliance (2)
2. Access to credit (1)
3. Slow recovery or double-dip recession (No change)
4. Managing talent (7)
5. Emerging markets (12)
Contd.
7
Top 10 Business Risks - 2010
6. Cost cutting (No change)
7. Non-traditional entrants (5)
8. Radical greening (4)
9. Social acceptance risk and corporate social responsibility (New)
10. Executing alliances and transactions (8)
8
Facets of CFO Role
Business partnering
Functional excellence
Fiduciary responsibility
Corporate governance
9
Balanced Score Card BusinessFinance
Functional Excellence
Financial Perspective
Controller’s Role
Internal Process
Business Partnering
Customer
People
Learning & Growth
10
Business Partnering
Gain business knowledge.
Strategy formulation.
Bench marking.
Competitive intelligence.
Contd.
11
Business Partnering
Aid in forecasting / range planning
Make or buy decisions
Evaluate investments / new ventures
12
Functional Excellence
Value creation through financial strategies
Zero surprise
Sound accounting principles
Segment reporting
Bench marking with peers
Contd.
13
Functional Excellence
Consistent information to shareholders
Knowledge management
Cost management
Awards
14
Fiduciary Responsibility
Strong internal controls
Credible financial statements
Enterprise risk management
15
People Development
Build, motivate and run high talent team
Coaching and career planning
Continuous training
16
Corporate Governance
Compliance with the law of the land
Interaction with regulators
Transparent reporting
Arms length dealings
Views based on facts and data, not perception
17
Evolving role of CFO
Execution
Trusting the numbers
• Ensuring business decisions are grounded in sound financial criteria
Providing insight
• Providing insight and analysis to support CEO and other senior managers
Contd.
18
Evolving role of CFO
Enablement
Getting your house in order
• Leading key initiatives in finance that support overall strategic goals
Funding organizational strategy
• Funding, enabling and executing strategy set by CEO
Contd.
19
Evolving role of CFO
Development
Development of business strategy
• Developing and defining the overall strategy for your organization
Contd.
20
Evolving role of CFO
Communication to the external marketplace
•Representing the organization’s progress on strategic goals to external stakeholders
21
“The perfect finance person has mastered the technical, they’re strong on the interpersonal, they have worked in different countries and done operational roles and seen finance from the other side of the fence.”
By Andy Halford, Vodafone.
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