Skills CFOs Need for Strategic Financial Leadership


Share post:

Becoming a successful CFO in the modern financial space is more demanding than before. However, they also need to upgrade themselves to become a strategic partner and use technology to drive the growth of businesses for the future.

Here are the skills for CFOs.

1. Financial planning & analysis

For a strategic CFO, it is important to have assertive financial planning skills and the power to analyze financial moves. This skill is necessary to produce a data-driven plan and make decisions to handle finance operations and performances.

Analysis requires a comparison of performances, calculating ROI of sales, tech platform usage, and more. So, CFOs are required to take a more proactive approach to data insight to boost operations.

2. Reporting and forecasting

Reporting and forecasting are the key areas in which CFOs need to intervene. In this, they should ensure financial professionals have proper access to systems.

Whereas CFOs find opportunities to dig deeper into the information extracted from dashboards to take insights and build the required financial structure across the organization.

CFOs should analyze reporting and forecasting for the latest income statement, balance sheets, cash flow statement, and customer- and product-level segmentation.

3. Risk management and Mitigation

In the era of digital finance, CFOs should take a role in pushing teams to assess risks and regularly address solutions for mitigation.

At the same time, CFOs should look at risk management and opportunities to create potential commercial openings. CFOs should be prepared with this to minimize supply chain disruptions, neutralize risks, and increase market share through more sales.

Also Read: How CFOs can Focus on Building Financial Resilience

4. Digital transformation

CFOs’ main function is to get reports from department heads for new developments and opportunities in operations and functionalities. CFOs can also get insights into constant work cycles within tight timetables, like urgent analysis requests to boost acquisitions.

Moreover, they should examine more ways to automate back-office operations to remove repetitive tasks and save time and money.

Read More: Top 10 must-have CFO skills to be really successful

TalkFintech Bureau
TalkFintech Bureau
TalkFintech is focused on the latest financial sector technologies and tools- covering all tech used by banks, investors, insurance, and wealth management sectors- and also conversations on retail financial management tools.


Please enter your comment!
Please enter your name here


Related articles

TerraPay Announces Strategic Partnership with Small World Money Transfer

TerraPay, a global cross-border payments network, is proud to announce a strategic partnership with Small World Money Transfer, a...

Nuvei Introduces Card Issuing Solution

Nuvei Corporation, the Canadian fintech company, announces today that it has launched its card issuing solution in 30...

Flexible Plan Introduces The Quantified Global Fund

Flexible Plan Investments, Ltd. (FPI), a leading provider of dynamic, risk-managed investment solutions with over $1.5 billion in assets under...

Yieldstreet’s Acquisition of Cadre Marks a Milestone in Private Market Alternative Investing

Yieldstreet, a prominent private market investment platform, has confirmed its acquisition of Cadre, an online real estate investment...