The study – based on a survey of more than 760 finance leaders globally, as well as in-depth interviews with 21 finance leaders –explores how the CFO role is being impacted by the new demands of digital, data, risk, regulation and stakeholder scrutiny. It finds that CFOs and future finance leaders need to proactively define their responses to each of these forces to secure their future influence.
Tony Klimas, EY Global Finance Performance Improvement Advisory Leader, says “It’s become a job that may be too big for any one individual to do well. It’s now more important than ever for the CFO not just to worry about their role, but also the team that they surround themselves with.”
Key findings
- The CFO role is being reshaped by four disruptive forces: digital, data, volatile risk and uncertainty, and intense stakeholder scrutiny and regulation.
- The profiles, backgrounds and priorities of CFOs are becoming increasingly diverse as organizations look for non-traditional skills and outlooks to help them face up to their major challenges.
To help CFOs and aspiring finance leaders manage these changes and adapt, we offer a leadership development plan encompassing personal competencies, strategic considerations and major external forces to master.
Please visit ey.com/dnaofthecfo to find out more.
Coming soon in this series: Is the future of finance new technology or new people? Preparing for tomorrow’s finance function (September 2016) and As the finance function blurs, how can CFOs find focus? Becoming the CFO your organization will need tomorrow (November 2016)