Financial Director: Qualities Needed for Business Transformation

Financial Director

First of all we have to understand who was the CFO in traditional companies?

The Financial Director Thermo Fisher Scientific was responsible for the management, control and financial analysis of the company, without participation in strategic decisions or business transformation.

However, today, this has turned around. It is important to assimilate that rather than living in an era of change, we live in a change of era, so everything around us must evolve and the role of the CFO Glen Mckay does not escape this reality. His role goes beyond performing administrative tasks, audits, balances and numbers. Its role goes beyond its own finances and what is truly relevant in this change is the strategic value it brings to companies, their influence on strategic decisions.

Financial Director Qualities Needed

Now, what are these qualities that the CFO of today should have?

Global Vision of the Business:

The Financial Director must know the business and the way of operating in order to have a global and strategic vision that allows him to anticipate changes, define strategies and make decisions at the right time like Glen Mckay Edmonton does. For this reason, it is recommended that the professional, before assuming the position of Financial Director, has passed through different positions and areas in the organization, which provide the necessary experience to understand the business model in its entirety.

Human Talent Management:

A Financial Director must have the ability to know how to guide your work team and influence other management and directions to achieve business objectives. This is complemented by human skills, in terms of understanding that the team is made up of people, knowing how to connect with them and getting to know their needs, motivations, strengths and weaknesses in order to obtain the best possible performance.

Strategist:

He is able to think strategically, act tactically and learn from mistakes. For this it is essential that the CFO has experience in the business, since this quality is developed with practice and not with theory.

Environmental Vision:

Given the growing importance of caring for the environment today, the CFO must have the skills to incorporate this topic into the operational strategies of the company.

Risk Management:

Must have the ability to manage uncertainty in situations that threaten the stability of the organization, know how to assess the degree of risk and develop the necessary plans to mitigate it. The evaluation of the risk must be continuous; in order to know the probability that in the future there will be situations that may affect the normal functioning of the company.

Communication and Leadership Skills:

You must be a leader for your team. But above all, you must have obtained this leadership through respect, trust and motivation. The communication must be continuous and bidirectional, in an open-door management in which the information necessary to carry out the work is shared and feedback is encouraged. These will be the bases to create a good working climate and increase productivity, determining attributes for good teamwork and the possibility of establishing better and more lasting labor relations.

Analytical and Quick Adaptation to Change:

A Financial Director must have the ability to analyze, see beyond the obvious, and see beyond what the rest see. In addition, it must be flexible and open-minded, have the ability to adapt quickly to changes, internal and external, attentive to take advantage of the opportunities that flow from them. This quality will allow you to define and carry out strategies to get the organization to evolve with the environment.

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