CFO Network Event at ICAA  Improving performance, strategy and the relationship with the CEO Janet Young CFO/COO Freehills...
Freehills facts As at Jun 2011 Revenue $ 512M Partners 195 Lawyers 841 Business Services Staff 677 Total Headcount 1,713 O...
What makes a law firm different? Technical proficiency valued, not leadership proficiency Partnership  and  a business Str...
Transition to the CEO’s business partner has some foundation building blocks Using your expertise To achieve  business out...
My framework – key questions I ask myself  <ul><li>Is this recommendation the right thing for the business overall and ali...
My key learnings <ul><li>Value different areas of expertise </li></ul><ul><li>Motivated, engaged people make a huge differ...
DOC ID 11854551 www.freehills.com
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CFO Network presentation from Janet Young, CFO of Freehills

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CFO Network presentation from Janet Young, CFO of Freehills

  1. 1. CFO Network Event at ICAA Improving performance, strategy and the relationship with the CEO Janet Young CFO/COO Freehills 16 November 2011
  2. 2. Freehills facts As at Jun 2011 Revenue $ 512M Partners 195 Lawyers 841 Business Services Staff 677 Total Headcount 1,713 Offices Sydney, Melbourne, Brisbane, Perth, Singapore, New York National Integration July 2000 (from 3 separate partnerships)
  3. 3. What makes a law firm different? Technical proficiency valued, not leadership proficiency Partnership and a business Strong professional ethics <ul><ul><li>2nd most depressed profession (after patent & trade mark attorneys) </li></ul></ul>Trained to be critical (100% correct, not 80 - 20 approach) Task oriented (not process) <ul><ul><li>The shareholders work in the business </li></ul></ul><ul><ul><li>Lawyers are revenue producers – sell and do </li></ul></ul><ul><ul><li>Risk averse </li></ul></ul>Informal power more important than formal 75% of people are professionals Market transparency is low
  4. 4. Transition to the CEO’s business partner has some foundation building blocks Using your expertise To achieve business outcomes Apply to industry you work in <ul><li>Building personal credibility </li></ul><ul><li>Technical expertise </li></ul><ul><li>Leadership & management expertise </li></ul><ul><li>Understand key drivers </li></ul><ul><li>Knowledge of industry </li></ul><ul><li>Clients/customers </li></ul><ul><li>Regulatory (if applicable) </li></ul><ul><li>How things get done around here </li></ul><ul><li>Good relationships, collaboration & linkage across the business </li></ul>Technical Business Culture
  5. 5. My framework – key questions I ask myself <ul><li>Is this recommendation the right thing for the business overall and aligned with company strategy? </li></ul><ul><li>Is what I am doing moving the company forward or reducing risk and is it important or critical enough to be raising now? </li></ul><ul><li>If I had to implement this recommendation, how would I do it and what are the consequences? </li></ul><ul><li>Do I have the courage to see it through and the support of the CEO and executive? </li></ul>
  6. 6. My key learnings <ul><li>Value different areas of expertise </li></ul><ul><li>Motivated, engaged people make a huge difference </li></ul><ul><li>You don’t have to have all the answers, it’s ok to ask questions </li></ul><ul><li>Business outcome is the first priority </li></ul><ul><li>Adapt your style but not your professionalism to CEO & Board preference </li></ul><ul><li>Ensure your core area of responsibility is under control first and that you are trusted </li></ul><ul><li>You can never stop learning about what makes people behave the way they do </li></ul>
  7. 7. DOC ID 11854551 www.freehills.com

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