The Changing Role of the Chief Financial Officer
Globally, the role of the Chief Financial Officer (CFO), sometimes referred to as the Finance Director, has transformed over the past decade due to the global financial crisis, rise of big data and the impact of social and digital media.
Traditionally, the CFO role entailed supervising, managing and engaging the work of the financial controller, credit manager and insurance manager, and duties including managing investments, analysing expenses and tracking regulatory trends. All pretty challenging tasks in themselves but the expectations of the Chief Executive Officer (CEO) and indeed the Board of Directors (“Board”) of the CFOs require that the focus of the role will need to change.
Organisations are in a state of continuous change, and the CFO needs understanding and experience beyond the basic finance function to identify areas for growth and operational excellence across all business domains. This requires a range of skills, from the foundation and basics of the finance function to a strategic level focusing on the outside world.
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David Mbatha is an Associate Director with KPMG Advisory Services Limited (email@example.com). The views and opinions are those of the author and do not necessarily represent the views and opinions of KPMG