DNA of a CFO

7/24/2019 DNA of a CFO

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DNA OF A CFO

hays.ca/dnaCFO

Its more than just numbers; its about people.


2/17

Introduction message from Rowan OGrady

1. Summary of findings

The DNA of a CFO

1. Qualifications that really matter

2. Personal career planning3. Getting the right people on the team

4. Investing in the future of your team

Beyond the numbers

Hays recommendations

About the respondents

View from the top

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CONTENTSABOUT THE REPORT

What does it take to become a Chief Financial Officer

in Canada?

This report is designed to give you insight into what it takes to

achieve a leading role in finance in Canada. Which qualifications

really matter? How important is international experience,

bilingualism, experience in multiple industries and sectors?Which personal characteristics are common among our finance

leaders? Based on the results of 150 CFO survey respondents,

a look at 100 CFO resumes and interviews with leading CFOs

today we have put together this report to help you map out

your career path.

METHODOLOGY

Survey

150 finance leaders who hold the title of CFO in March 2014

were surveyed. They were asked questions about theireducation, background, qualifications, international experience,

responsibilities, challenges and personal aspirations.

Resume review

100 CFO resumes were analyzed, looking at commonalities and

trends of education and qualifications, industry experience,

international experience, professional associations, personal

interests and skills.

Based on the above methodology, we came to the conclusion

that you have to have a strong foundation in terms of

accounting and finance qualifications to progress in finance,

however to achieve the CFO title requires personal career

planning, hiring the right people and investing in your teams.

This report is organized based on the insight of these key

findings.

While every care is taken in the collection and compilation of data, this

report is interpretive and indicative, not conclusive. This information

should be used as a guide only.

hays.ca/dnaCFO


3/17

On behalf of Hays I am pleased to launch the first results from

our DNA series DNA of a Chief Financial Officer (CFO). Hayshas deep expertise in the finance sector. Weve specialized inthis industry for 30 years providing finance recruitment servicesin more than 25 markets worldwide.

In Canada, the finance and accounting service is a corner stone of our

business. Weve placed thousands of finance professionals across a

variety of sectors from construction and Information Technology, to legal,

retail and energy. This gives Hays a unique perspective on the definitive

path to a successful career in this vocation.

Our goal is to create a report that removes the mystery from how to become

a CFO in Canada by illuminating the common traits, skills and challenges

associated with this career path. This is more than a summary of typicalqualifications amassed through years on the job (although we have that too).

We wanted to delve deeper, to get a sense of what separates candidates from

the pack.

To do that, Hays gathered information from more than 100 CFO resumes,

then surveyed 150 CFOs with probing questions about their development,

and finally we interviewed a select few of leading CFOs to build a profile of

a finance professional that has reached the top. By doing this we unveiled

a few key conclusions that make up the DNA of a CFO, which are personal

career planning, getting the right people on the team and investing in your

team. Above a strong finance foundation, based on the findings, these are the

necessary elements to becoming a CFO in Canada.

I personally want to thank all those that participated and shared their

stories as part of this initiative. Your contribution and input will help the

next generation of CFOs achieve their goals, and help current employers

cultivate star performers.

Rowan OGrady

President, Hays Canada

INTRODUCTION SUMMARY OF FINDINGSOur research and interviewstell us that this role has evolved

considerably, moving way beyond

the traditional number crunching.

The foundation for success today

is built on leadership. Morespecifically it grows from the

CFOs capacity to manage human

capital and demonstrate the softer

skills associated with motivating

individuals and teams, and

building consensus with varying

department leads. The CFOs role

is to support and work alongside

the CEO, providing a strong

commercial value. The need for

these broader skills has introduced

personality fit as a key driver to

success. And while this driveris more subjective than other

skills, it should nonetheless act

as a guiding light for employers

hiring CFOs, and current finance

professionals hoping to transition

into this role.

For employers qualifications

and technical expertise can be

learned on the job. Whats much

harder to do is teach someone to

live and breathe the companys

core values. Finance professionals

that mesh with your managerial

style, and have clear leadership

capabilities are more likely to

drive business growth. This is

also imperative for succession

planning, and according to

our survey almost a quarter of

respondents hope to one day

become the CEO or president.

Aspiring CFOs should also heed

this advice your soft skillsare just as important as sound

financial practices and business

acumen. You will frequently be

asked to stretch how you define

your vocation to include less

traditional qualities. Your ability

to get along in an office setting,

motivate staff and communicate

to both internal and external

parties will form the basis of

how you are measured.

For anyone who has ambitionsof having a successful career

in finance, our report provides

clear insight in key areas:

personal career planning,

qualifications that really matter,

common mistakes to avoid,

and people management.

We encourage you to watch

our DNA of a CFO video

found at hays.ca/dnaCFO

to hear from leading CFOsat Molson-Coors Canada,

Walmart Canada, Canadian

Tire Corporation and Aecon

Group Inc. about their

journey.

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DNA OFA CFO

The following section presents the findings from

the survey results and resume analysis.

In this section youll find key insights on:

Qualications that really matter

Personal career planning

Getting the right people on the team

Investing in the future of your team members

Seize the opportunity to do differentthings. I was in real estate andconstruction before I went into retailand the versatility of my experience

and confidence to pick up new projectsis what stood out in my backgroundand professional profile for employers. Dean McCann, CFO, Canadian Tire Corporation

95% of CFOsare happy withtheir careerchoice

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Designations

55% hold a CA

16% hold a CGA

18% hold a CMA

13% hold a CPA

6% hold a CSC

QUALIFICATIONS THATREALLY MATTER

While softer skills and building varied experiences will

help professionals in finance advance their careers muchfaster, it still wont be possible without some baseline

qualifications. We reviewed more than 100 CFO resumes

to determine things such as which designations were

the most prominent, typical progression path and location

of experience and then surveyed CFOs to get a sense of

which ones they valued the most.

CFO RESUMECredibility is earned through leadershipand demonstrating you can deliver onthe full project. Taking on opportunitiesand projects that start and end with

you, will help build accountability intoyour resume. David Smales, CFO, Aecon Group Inc.

Skills

58% dont list technical skills. Of those that do, the most common listed include:

26% GAAP | 20% Microsoft Oce i.e. Advanced Excel | 10% ERP SAP | 8% Greatplains,

Hyperion, Quickbooks | 4% Oracle, PeopleSoft

Awards and recognition

Only 7% list awards. Examples include the ICABA community service award, CMA volunteer of the year

award and recognition for being keynote speakers at national events such as the National Treasury

Credit Union annual event.

Education

25% have a BA in Business Administration

32% have a Bachelor of Commerce Degree

20% have a Masters of Business Administration (MBA)

6% have a BA in Economics

22% majored in Accounting

Other common credentials include Health

Administration and P. Eng.

10% say the Masters of Business

Administration (MBA) is the most

important credential to have.

Almost half (47%) believe this is imperative to becoming a CFO.

It is important to note that 15 per cent of survey respondents said that the specificities of ones education

and training doesnt matter. Its about the total package, including experiences, personality fit and the

ability to lead by example.

23% say the CPA designation is the most imperative, and is assumed that

this may grow in prominence based on the recent developments in Canada.

KEY INSIGHT

Sixty-seven per cent of CFOs said that after

education and work experience, the number

one selling point that stood out in their resume

that helped secure their job was professional

accomplishments, followed by 17 per cent who

said reputation of previous employers.

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KEY INSIGHT

CFOs rank strategic planning, commercial

understanding and people management as

the top three most important aspects to the

CFO role. These are leadership qualities that

are developed and learned through a broad

range of experiences. Based on the results

from the survey, 100% of CFOs have experience

in functional areas outside of finance, which

according to a CFO survey respondent isessential to understanding the full spectrum of

the organization. As a CFO you are involved in

all aspects of the business and it is key that you

have a deep understanding to add value.

Industry experience

70% have experience in

multiple industries.

Personal interests

28% list personal interests,

ranging from sports, spirituality,

reading, and cooking.

According to the survey,

the number one thing

CFOs do in their spare

time is spend time with

their families (84%)

18% of CFOs say the biggest decision

they made in their career in order

to achieve the role they are in today

was moving internationally for a

career opportunity.

According to the survey,

the majority of CFOs (57%)

international experience is in the

U.S., the second most dominant

location is Europe at 36%.

Domestic vs. international experience

41% have international experience, 15% have experience within

Canada, and 44% have worked exclusively in one province.

Associations/membershipsApproximately 70% list professional associations that they are members of i.e. FEI. 55% sit on a board of directors.

More than 1/3 (36%) listed working for a Big Four company at some point during

their career. Those with Big Four became a CFO role in just under 14 years. Those

that didnt, took on average two years longer to attain the same role.

The CFO role carries a lot of responsibilitybut it also provides the opportunity tomake a difference. Its the job of leaders toanticipate change and find ways to addressand capitalize on it. The Canadian CPA ismore than an accounting designation; it isalso a business credential. We firmly believethat organizations of all types will valuethe CPA designation for its broad financialexpertise, strategic thinking, business insight,management skills and leadership.

Kevin Dancey, president and CEO, Chartered Professional

Accountants of Canada

Progression

The following outlines the typical roles and average time spent in these functions on the path to becoming a CFO:

37% were a VP of nance 56% 56 years

27% 7+ years

33% held this title immediately before becoming a CFO

27% held a director role 40% 23 years

33% 47 years


20% held an analyst/planning role 70% 23 years

65% were a controller 43% for 23 years

20% for 45 years


46% were an accountant 41% for 23 years

30% for 45 years

27% were in audit 46% for 23 years

30% for 45 years

13% were in tax/treasury 53% 23 years

First accounting and finance role

The following outlines the typical roles that CFOs began their careers in accounting and finance.

39% started as an accountant 13% started as an analyst 12% started in payroll

10% started as an auditor 8% started as a director/executive 8% started as a controller

4% started as a CFO 4% started in accounts payable 1% started in accounts receivable

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My first accounting and finance role was:

39% accountant| 13% analyst | 18% accounting/

nance administrator | 10% auditor |

8% controller | 8% director/executive | 4% CFO

45% held a VP of finance role directly

before becoming CFO.

52% have international experience

and 94% say this has had a positive

to very positive impact on their career.

33% are bilingual, and 62% say beingbilingual has had no impact on their career.

61% say operations is the most

important department to partner

with and gain experience in.

30% rank strategic planning as the most

important aspect of the CFO role; 22% rank

commercial understanding, 14% rank people

management, superseding financial analysis,

working capital and investor relations.

44% achieved their CFO role between 1020

years from starting finance; 28% within 10 years

and 29% in 20+ years.

What does a roadmap to success look like? It may have started out a

little murky at first. Forty-five per cent of todays CFOs didnt aspire to

reach this goal when they first started their careers, and approximately

15 per cent had no idea what they initially wanted to be. And yet once

they arrive, many are motivated to push for greater responsibility.

Twenty per cent of CFOs currently aspire to be a president or CEO,

and 30 per cent are looking for a larger CFO or finance director role

within an organization. Its also likely that there will be bumps along

the way. Nearly 40 per cent of finance professionals found the director

to executive level the most difficult to reach.

Even those that have clear ideas about what they want to achieve in

their profession should be open minded. According to Dean McCann,

CFO from Canadian Tire Corporation, you should be prepared to take on

the unexpected. He comments, youll be faced with many opportunitiesalong the way that you may not think you are qualified for, require you

to change industries, or even professions. Taking opportunities that

force you to learn is exciting, and is what will help launch your career

and diversify your background.

For example, the majority of CFOs have worked in functions other

than finance 30 per cent actually left the path they were on to

pursue another career opportunity, usually for one to three years

before coming back to the finance world. Forty-three per cent have

worked in human resources, 46 per cent in information technology, 45

per cent in operations, 30 per cent in office support, and 22 per cent in

property and facilities management. Be open to rounding out what you

know about managing a business, it will help develop your ability to

PERSONAL CAREERPLANNING

During your career you need to make choices aboutthe different experiences and jobs you want to have.This is the greatest challenge to your career path,making the right choices, at the right time. Ensure

you develop the required skills and competencies in abalanced way. Some jobs might not look sexy but areessential to becoming a successful CFO. Wouter Vosmeer, CFO, Molson Coors Canada

provide strategic counsel later on and make you a valued member

of the executive team.

The key learning is to understand that the path isnt necessarily

straight forward. With the role of the CFO becoming more diverse

in terms of commercial responsibilities, stakeholder management

and strategic planning for the whole business, not just in the

finance function, branching out and getting the necessaryexperience will pay dividends in the long run.

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Forty per cent of CFOs say they were hired for their current role

based on personality fit. You have to have the right qualifications

and background, but at the end of the day, the people you hire must

fit with your team and culture of your business. So where do you findthe right people? Over a third of CFOs were recruited by a recruitment

agency, and another third were referred via a colleague from their

professional network.

Building a network of qualified professionals is a key factor in the

search to finding the right talent. Establishing a quality network must

extend beyond a large pile of business cards. It can be done via digital

channels such as mobile and social media. Approximately 70 per cent

of CFOs rank networking as very to extremely important to becoming

a CFO, and over 40 per cent engage in networking via social media

and online channels. As a manager, you should be connecting with as

many like-minded professionals as possible. This will help you establish

a readily available pool of talent for future recruitment purposes.

69% say networking is very to extremely

important to becoming a CFO.

20% engage in networking activities

on a monthly basis; 45% every other

month to quarterly.

42% network through social media

and online channels such as webinars

and tutorials.

70% network via industry and

technical events.

58% network via social events.

40% network via professional memberships.

31% attained their current CFO role

via a colleague; 33% were recruited

via a recruitment company.

11% through a job board; 13% via a friend;

10% directly via networking.

GETTING THE RIGHTPEOPLE ON THE TEAM

The job I got with Walmart, came from social media.Its important to understand how social media impacts

your business and your career. Bill Tofflemire, CFO, Walmart Canada

Having the right fit is very important. Every workingculture is different, and hiring people that will fit both

your office culture and finance team is essential. David Smales, CFO, Aecon Group Inc.

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65% have had a mentor throughout

their career.

26% are unsure if they would have

achieved their role today without a

mentor; 17% say they wouldnt have

become a CFO without their mentor.

46% say having a mentor is crucial to

ones career path.

36% of CFOs mentors were not in nance.

47% rank having a work-life balance as

extremely difficult.

33% say work pressure impedes on establishing

a work life balance; 27% attribute it to work load,

and 10% to travel, 8% to being understaed/demand

by staff.

74% rank professional development as very toextremely important; 67% engage in professional

development every month to once quarterly.

It may come as no surprise, but more than 50 per cent of CFOs

maintain that direct managers and colleagues have the biggestinfluence on career development. This emphasizes how important

soft skills have become in this role. There is an expectation that CFOs

work well with everyone, lead by example and help motivate staff to

draw out their best qualities. Eighty-seven per cent of CFOs today are

responsible for managing teams, and people management is ranked as

one of the most important aspects of the role (15% say it is the single

most important aspect).

Working well with people is a two-way street. It isnt always about

how you can help others. Mentors play a significant role in helping

financial professionals become CFOs. Sixty-five per cent of CFOs

had a mentor at some point in their career, and 22 per cent had one

during their rst management role. Almost a quarter (20%) maintain

a mentor relationship even once theyre in the CFO role. Clearly they

see value in having someone help steward their growth. In fact,

almost 50 per cent of CFOs rank having a mentor as extremely

important a corresponding number believe they couldnt have

become a CFO without one.

Time management, especially as it pertains to ones personal life can

be a pain point for CFOs. Forty-seven per cent currently have difficulty

finding a work-life balance. Thirty-three per cent attribute this to work

pressure, and 27 per cent to work load. Supporting your team requires

not only the right people but the right number of people to increase

staff productivity and effectiveness. Managing teams and work loadeffectively is a crucial element to becoming a CFO.

INVESTING IN THEFUTURE OF YOUR

TEAM MEMBERSToday, even at the lower levels of finance,were screening for future leaders of the company.Who has stronger talent development skills, who cancollaborate better, implement strategy? These are thekey elements were looking for in candidates today. Bill Tofflemire, CFO, Walmart Canada

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Today, having deep financialexperience is consideredtable stakes. SuccessfulCFOs must also understandall areas of business operations, marketing, IT,legal and new businessdevelopment. The roleextends beyond managingthe bottom line. You mustsee the big picture, and bea true business leader. Howyou interact with peopleto motivate them, includethem in the companyssuccess, and build a teamfirst mentality are truehallmarks of a successfulCFO.

This wasnt the case five to 10 years

ago. According to David Lapp, CFO

of Freedom Concepts Inc., the role

of a CFO has changed considerably.

BEYOND NUMBERSFOUNDATIONS FOR SUCCESS

HAYS RECOMMENDATIONS

Develop a personal career plan.Take control of your own career

and personal development. Being open to new opportunities and

chance is common advice from the four leading CFOs as seen on

our accompanying video. Simultaneously, it is important to have a

sense of where you want to be long-term. Think about what you

could be in five to 10 years time. Although this may well change,

having a vision of your future self is a valuable guiding light. Are

you aware of your weaknesses and development needs? Find a

mentor that you can discuss your goals. It may not be possible to

plan an exact route to the CFO role but with a future goal in mind

and a commitment to continuous improvement you will be on the

right path.

Get the right people on the team.Having the right people, culture

and skill sets on your team is essential to your success. Proactive

and deliberate recruitment of these people may be the only

way to create a team that can truly move your department ororganization forward in a significant way.

Think about what would constitute a great team and commit

to a road map to create one.

Invest in your team members. Think about the career

development of each person on your team. Ask each person what

their own personal career and development goals are. Share your

succession plan and make sure your team is aware of the career

path options available to them. Without a successful team behind

you, your own career aspirations may not materialize as quickly as

you want them to.

Today you have to be a multi-faceted

individual, balance both commercial

understanding and awareness, and be

willing to not only deliver results,

but also communicate to both internal

and external audiences about the

project at hand.

This aspect of the CFO role can causeinternal friction for those that are

transitioning into a more senior role.

According to our survey, almost a

quarter (20 per cent) of CFOs second

guessed their career path during their

first taste of management because

they didnt anticipate taking on these

responsibilities. Understanding that

this is a natural extension of your role

will allow you to quickly pivot when

the need arises.

Being the leader

The survey findings show that there

are some very clear and definitive

attributes that finance professionals

must possess to be a leading CFO.

For example, more than 25 per cent

of CFOs rank credibility as the

single most important attribute.

Whats implicit in this finding isthe CFO must be an effective

communicator to clearly demonstrate

the impact that his or her work is

having on the team and business.

To help more finance professionals

develop the necessary management

skills needed to become a credible

leader, employers should review

internal training and professional

development opportunities, especially

at the mid-level management stage.

Helping finance professionals adopt

these skills will solidify their role as aleader in the company later on.

Soft skills; the ability to work with and motivatepeople is the key attribute to becoming a CFO. Canadian CFO survey respondent

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FIT

Almost half (40%) believe they were hired for their current CFO role based

on personality fit.

The number one reason CFOs have been let go is due to a personality clash

with a manager.

MANAGEMENT

23% rank communication and people management as the single most

important aspect of the role of a CFO.

48% have second guessed their career path during their rst

management role.

45% say the biggest mistake they have ever made in their professional

career has been a managerial error.

YOUR BRAND/PROFILE45% are unsure if they would have achieved their CFO role without a mentor.

70% rate networking as very to extremely important to becoming a CFO.

Over 30% secured their current role via a recruitment company;

another 30% were referred via their network.

ITS ABOUT PEOPLE

Fit, management and personal profile are all key

aspects integral to the journey of becoming a

CFO that are reliant on the dynamics of people.

Become a finance leader by understanding

how the people you manage and report to

will impact your career; the secret truth to

the DNA of a CFO.

Dedication, hard work andIntegrity are key buildingblocks in becoming a CFO.You must have the fortitudeto be able to deliver boththe good and unpleasantmessages bringing together

superior people skills. In theend, your people skills willdetermine your degreeof success. Canadian CFO survey respondent

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Male 79.05%

Female 20.95%

2030 0.7%

3040 11.5%

4050 43.2%

5060 33.1%

60+ 11.5%

ABOUT THE RESPONDENTS

Alberta 10.8%

British Columbia 20.9%

Manitoba 0.7%

New Brunswick 0.7%

Newfoundland 0.0%

Northwest Territories 0.0%

Nova Scotia 2.0%

Nunavut 0.0%

Ontario 64.2%

Prince Edward Island 0.0%

Quebec 0.7%

Saskatchewan 0.0%

Yukon 0.0%


13/17

Very happy 58.0%

Happy 37.8%

Neutral 1.7%

Unhappy 2.5%

Very unhappy 0.0%

Mom 6.7%

Dad 23.5%

Direct Manager 27.7%

Teacher 2.5%Colleague 24.5%

Friend 15.1%

Earning potential 13.6%

Passion/interest 45.8%

Family tradition/legacy 2.5%

Talent 13.6%

By uke/stumbled into it 18.6%

Peer group 3.4%

Prestige of role 2.5%

100

80

60

40

20

0

Mom/female guardian 1.7%

Dad/male guardian 0.8%

Partner/spouse 87.4%

Kids 0.0%

Friend 3.4%Peer/colleague 3.4%

Other family member 1.6%

Your recruiter 1.7%

Sports 72.3%Travel 65.5%

Books/lm 63.0%

Spending time

with family

84.0%

Dining/entertainment 59.7%

Gaming 5.9%

Cooking/gardening/

home improvements

31.9%

When you achieved your current role who was the first person you called?

Are you happy with your career choice?

What best describes the reason you chose a career in finance?

What activities do you do in your spare time?

Who was the biggest influence in your career?

The role of a CFO today is out in front of people andchanging with technology and the demands of businessand the economy. Accepting change as part of the roleand being well versed in change management will help

you become a finance leader.

David Lapp, CFO, Freedom Concepts.

12 DNA of a CFO


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13 DNA of a CFO

VIEW FROM THE TOP

Want to hear from influential leaders in the finance community in Canada?As part of the Hays Canada DNA series, we spoke to top CFOs about theirjourney to achieving their career success.

Watch this short video and hear directly from the following CFOs, gainingvaluable advice about the path to becoming a finance leader:

hays.ca/dnaVIDEOS

David Smales,CFO, Aecon Group Inc.

Dean McCann,CFO, Canadian Tire Corporation

Wouter Vosmeer,CFO, Molson Coors Canada

Bill Tofflemire,CFO, Walmart Canada


15/17

To read more profiles

of CFOs interviewed for

this project please visit:

hays.ca/dnaCFO.

as a tool for advice. I have

embraced LinkedIn, for example,

as a method to get advice,

job hunt, get critiques and

insight on the ideas and projectsIm working on. One example

includes, getting advice from

a discussion on LinkedIn to take

a LEAN accounting course,

which helped propel my career

in the manufacturing industry.

Without this advice my path

may have been quite different.

Have you ever worked abroad?

Yes I have, the longest single

stretch was for six months.

Ive worked in Japan, Australia and

Los Angeles. This international

experience has been very

beneficial to my career. It has

helped me develop stronger

relationships with stakeholders,

provided me with better cultural

business understanding as well

as a better understanding for

the differences in accounting

worldwide. This has helped me

become a well-crafted individual

by having had multi-facetedexperiences.

VIEW FROM THE TOPQ&A with

David Lapp

Chief Financial Ocer (CFO)/

Chief Operating Officer (COO)

Freedom Concepts Inc.

Have you always aspired tobecoming a CFO?

I never woke up saying I am going

to become a CFO, that path just

evolved over time. My background

is diverse which I believe has

helped me achieve the career I

have today, giving me a broader

understanding of business and the

importance of strategic planning.

My uncle was a CFO, and when

I was younger the role always

appeared to be in an ivory

tower, away from everything.

David Lapp has over 20 years of experience as a leader in the

Canadian nance community. He was the Vice President of Marketing

and Director of Sales with DBI, Financial Investment Representative

with Investors Group, and Executive Consultant with Push Ltd before

becoming the CFO and COO with Freedom Concepts. His diverse

and vast career is what many up-and-coming finance professionals

would see as their ultimate career goal. David shares some of his

experiences, insight and advice about the path to achieving a CFO

role in Canada.

Today, the role has drasticallychanged; you really are a part

of the total business.

What are the biggest changes

to the role of a CFO compared

to 510 years ago?

Today the role is more about

strategy. You have to understand

the business, all functional areas

in addition to finance and use your

finance knowledge and expertise

to build a strategy that is going to

help the business get to the next

level in terms of ROI and growth.

For example, today you are seeing

a lot more of a hybrid executive

role between operations and

finance such as the CFOO title.

What is the biggest surprise

about the CFO role?

For me the biggest surprise

as I was moving up the ranks

was how much finance is

becoming about relationships

with staff, customers and

vendors. Having the finance

qualifications and experiences

is essential, you have to know

how to implement revenue

growth strategies, execute proper

forecasting and projections, that is

a given. Today however, you have

to be a multi-skill set individual,

a bit of a renaissance individual

who is the total package. I think

one key piece to the evolution

of the role from when my uncle

was a CFO is that, in the 80s and

early 90s you had to be able to

build the strategy. Today you not

only have to build the strategy,

but explain, educate andimplement the strategy.

What soft skills do you believe

are essential to be a CFO today?

There are four big ones that I

believe are crucial to the role.

You have to be a leader for one.

And to be a leader you have to

have strong communication skills.

You have to be a strategic

thinker and lastly, you have

to be able to live and breathe

change management. The role, as

well as businesses, are constantly

Davids survey answers...

changing. Being willing to be open

and adopt change will help make

you a better overall CFO.

The CFO today is out in frontof people, more like a CEO role.

You have to be able to deliver

both in and out of the books.

This makes the role appealing

and more exciting in my opinion

then in previous times.

What technical skills do you

think are integral to being

a CFO in Canada?

The fundamentals I believe

are strong accounting skills,

risk experience (cyber financial)

and working experience with

ERP systems. This is the base.

However today, I believe the key

change is that you have to have

a strong understanding of big

data and analytics. This, in my

opinion, is the make or break of

the future for a CFO. Youll provide

better value to the business both

internally and externally by

understanding data and how

to use it for the benefit ofthe company.

Throughout your journey,

what one thing helped you

achieve your role today?

Mentorship and networking.

I dont believe I would have been

as successful in my career without

the support and help of my peers.

Working with my peers and using

my mentors has provided me the

support and advice needed to

make the right decisions for my

career. I use social media often

14 DNA of a CFO


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#WHATCOULDYOUBE


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DNA of a CFO