June 2011<br />Confidential and Proprietary to DS&H <br /> DS&H CFO Study Report<br />CFOs:  Pathways to become lean & str...
June 2011<br />Confidential and Proprietary to DS&H <br />2<br />DS&H<br />www.dusaulthaddad.com<br />Study framework<br /...
June 2011<br />Confidential and Proprietary to DS&H <br />3<br />DS&H<br />www.dusaulthaddad.com<br />CFO study findings (...
June 2011<br />Confidential and Proprietary to DS&H <br />4<br />DS&H<br />www.dusaulthaddad.com<br />FROM FINANCIAL ACCOU...
June 2011<br />5<br />DS&H<br />www.dusaulthaddad.com<br />FROM FINANCIAL ACCOUNTING TO CO-PILOT<br />In many competitive ...
June 2011<br />6<br />DS&H<br />www.dusaulthaddad.com<br />FROM FINANCIAL ACCOUNTING TO COPILOT<br />Young CFOs start off ...
June 2011<br />Confidential and Proprietary to DS&H <br />7<br />DS&H<br />www.dusaulthaddad.com<br />The roadmap from tec...
June 2011<br />Confidential and Proprietary to DS&H <br />8<br />DS&H<br />www.dusaulthaddad.com<br />For instance, challe...
June 2011<br />Confidential and Proprietary to DS&H <br />9<br />DS&H<br />www.dusaulthaddad.com<br />High stake transacti...
June 2011<br />Confidential and Proprietary to DS&H <br />10<br />DS&H<br />www.dusaulthaddad.com<br />Senior roles call f...
June 2011<br />Confidential and Proprietary to DS&H <br />11<br />DS&H<br />www.dusaulthaddad.com<br />	Study participants...
June 2011<br />Confidential and Proprietary to DS&H <br />12<br />BUILDING UP A ROADMAP FOR OUTSTANDING CFO SKILLS<br />
June 2011<br />Confidential and Proprietary to DS&H <br />13<br />DS&H<br />www.dusaulthaddad.com<br />BUILDING A ROADMAP ...
June 2011<br />Confidential and Proprietary to DS&H <br />14<br />DS&H<br />www.dusaulthaddad.com<br />Early roadblocks ar...
June 2011<br />Confidential and Proprietary to DS&H <br />15<br />DS&H<br />www.dusaulthaddad.com<br />On becoming lean & ...
June 2011<br />Confidential and Proprietary to DS&H <br />16<br />DS&H<br />www.dusaulthaddad.com<br />EXECUTIVE EXPERIENC...
Having a budgeting and strategic process impeccably integrated to the information systems.
Preparing monthly executive reports limited to 10 pages, that speak loud and clear, with insights.
Managing international treasury (financing and hedging) programs, over and through financial crises.
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DS&H - CFO study findings: Pathwats to become lean & strategic

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We recognize the increasing sophistication of demands placed on the F&A dept. With their unique experience, Du Sault & Haddad carried out a private study on the new roles and challenges for the CFO in the 21st century: How to build winning teams for tomorrow and boost the strategic value added in F&A. The study results explore 5 levels of competences for the young and aspiring CFO, their key elements and common blockages.

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DS&H - CFO study findings: Pathwats to become lean & strategic

  1. 1. June 2011<br />Confidential and Proprietary to DS&H <br /> DS&H CFO Study Report<br />CFOs: Pathways to become lean & strategic<br />… Seeing clearly ahead is now paramount<br />André Du Sault, MBA (LBS), MPA (Harvard)<br />www.dusaulthaddad.com<br />1<br />
  2. 2. June 2011<br />Confidential and Proprietary to DS&H <br />2<br />DS&H<br />www.dusaulthaddad.com<br />Study framework<br />INITIAL OBJECTIVES & KEY QUESTIONS<br />In an environment of hyper competition, accelerated changes, how can CFOs build on their technical expertise to play a greater strategic role?<br />What is the profile of the new CFO incarnation? What new capabilities CFOs need to <br /> develop or acquire? What is blocking them?<br />3. What are the new expectations of the key stakeholders?<br />METHODOLOGY<br />We have interviewed about 50 senior executives from a broad range of perspectives:<br />CEOs, CFOs, HROs, IT specialists, bankers, headhunters, administrators, etc.<br />FOR WHOM<br />CEOs, CFOs, VP Finance, Controllers, keen to build value added in the Finance function. <br />
  3. 3. June 2011<br />Confidential and Proprietary to DS&H <br />3<br />DS&H<br />www.dusaulthaddad.com<br />CFO study findings (6)<br />Young CFO candidates are caught between two outlooks:<br />. A narrow view of the job in smaller companies, with standard financial reports as the main output<br /> . A demanding role in larger companies, where CEOs increasingly require lean-minded & strategic CFOs<br />CFO candidates are usually not schooled to be CFOs, leading to a poor blend of technical and strategic skills<br />Key management and strategic skills are often integrated too late in the CFO career path to yield senior influence at the C-Level<br />The job of Controller or young CFO stands at a pivotal point: What is integrated at that level (style, learnings, skills, responsibilities) shapes the potential for the CFO position.<br />CFOs receive little or any coaching when handling high stake transactions that will make or break their reputation and credibility<br />The pathway from CFO to COO/CEO is misunderstood and misapplied<br />
  4. 4. June 2011<br />Confidential and Proprietary to DS&H <br />4<br />DS&H<br />www.dusaulthaddad.com<br />FROM FINANCIAL ACCOUNTING TO CO-PILOT <br />There is increasing pressure on CFOs to perform under<br />tight budgets & means<br /> an expanding scope of strategic responsibilities<br /> changing structures moulded by globalisation<br /> and the need to balance flexibility and efficiency.<br />. <br />Yet the roadmap for improvement and a new skills set is often unclear for many CFOs.<br />
  5. 5. June 2011<br />5<br />DS&H<br />www.dusaulthaddad.com<br />FROM FINANCIAL ACCOUNTING TO CO-PILOT<br />In many competitive industries, stakeholders require a lean & strategic CFO as co-pilot for the enterprise<br />Controller<br />Co-pilot<br />Lean<br />TECHNICAL PRESSURES<br />New accounting standards<br />New business processes<br />Complex Information technology<br />Designing information architecture<br />Facing budget limitations<br />CEO<br />Board<br />Investors<br />Bean counter<br />Bankers<br />Standard<br />Functional<br />Strategic<br />STRATEGIC PRESSURES<br />Leading business transformations<br />Leading operational excellence<br />Networked organisation<br />Managing international ventures<br />Outsourcing, off shoring<br />Deal maker<br />Confidential and Proprietary to DS&H <br />
  6. 6. June 2011<br />6<br />DS&H<br />www.dusaulthaddad.com<br />FROM FINANCIAL ACCOUNTING TO COPILOT<br />Young CFOs start off with technical tools to address technological challenges, <br />but soon face a wide range of expectations from stakeholders to deliver strategic value<br />master of cash flow<br />business plan - strategy<br />proper controls in place<br />Investors<br />transparency – integrity -controls<br />financing strategy<br />CEO – CFO relationship<br />Board<br />intelligent reports<br />business acumen<br />value driven <br />CEO<br />CFO<br />master of cash flow<br />finance skills<br />business communication<br />Bankers<br />processes<br />planning<br />controls<br />info<br />IT<br />clear policies<br />information<br />systems that work<br />Employees<br />Head-hunters<br />team building<br />leadership & people skills<br />technical & strategic skills<br />Confidential and Proprietary to DS&H <br />
  7. 7. June 2011<br />Confidential and Proprietary to DS&H <br />7<br />DS&H<br />www.dusaulthaddad.com<br />The roadmap from technical expertise to strategic CFO will include 3 stages :<br />1. standard challenges for good basic performance in reporting & budgeting<br />2. high stake initiatives that lead to senior roles and corporate influence<br />3. continuous learning of technical, managerial and strategic skills <br />
  8. 8. June 2011<br />Confidential and Proprietary to DS&H <br />8<br />DS&H<br />www.dusaulthaddad.com<br />For instance, challenges for a good basic performance include: <br />organizing reporting with high automation<br /> developing custom tools for finance & cash flow<br /> controlling internal planning and strategic tools<br /> capturing in-depth understanding of industry and operations<br /> managing international operations from a distance<br />
  9. 9. June 2011<br />Confidential and Proprietary to DS&H <br />9<br />DS&H<br />www.dusaulthaddad.com<br />High stake transactions shape reputation & credibility: <br />overseeing complex IT projects<br /> driving corporate operational excellence programs<br /> leading strategic planning<br /> implementing mergers and acquisitions<br /> negotiating international ventures<br />
  10. 10. June 2011<br />Confidential and Proprietary to DS&H <br />10<br />DS&H<br />www.dusaulthaddad.com<br />Senior roles call for sharper people and strategic skills: <br />reading people<br /> presenting for impact<br /> translating vision into action<br />leading large value creation projects<br /> designing structure & organisation<br /> winning investors’ trust<br />
  11. 11. June 2011<br />Confidential and Proprietary to DS&H <br />11<br />DS&H<br />www.dusaulthaddad.com<br /> Study participants indicated that poor career guidance may <br /> lead young CFOs & aspirants to make the following mistakes:<br />not reading challenges well ahead <br /> choosing titles ahead of better mentoring <br /> relying solely on technical skills for influence <br /> letting ego build up a trap for a downfall<br /> having no plan B in their pocket <br /> losing passion of learning <br /> losing track of family<br />Seeing clearly ahead shapes more productive careers<br />* include controllers, VP finance, young CFOs...<br />
  12. 12. June 2011<br />Confidential and Proprietary to DS&H <br />12<br />BUILDING UP A ROADMAP FOR OUTSTANDING CFO SKILLS<br />
  13. 13. June 2011<br />Confidential and Proprietary to DS&H <br />13<br />DS&H<br />www.dusaulthaddad.com<br />BUILDING A ROADMAP FOR THE CFO: 5 LEVELS OF COMPETENCES<br />The potential value added from the F&A function is wide and incremental:<br />from basic financial statements to international fluency, to co-pilot.<br />CEOs can plan to accelerate the CFO’s contribution.<br />Strategic<br />International<br />Advanced<br />Strategic planning<br />Operational excellence<br />Growth & M&A<br />Company valuation<br />Intermediary<br />Global fluency<br />Foreign exchange<br />Partnerships<br />Forecasts<br />Financing strategy<br />Investments<br />Basic<br />Value-added reports<br />Budget planning<br />Strong teams<br />Standard accounts<br />COGS<br />
  14. 14. June 2011<br />Confidential and Proprietary to DS&H <br />14<br />DS&H<br />www.dusaulthaddad.com<br />Early roadblocks are mostly technical, but shift rapidly to managerial and strategic.<br />TYPICAL ROADBLOCKS<br />DESIRED OUTCOMES<br />LEVEL<br />Co-pilot<br />5<br />Early mentoring of strategic skills<br />Strategic influence<br />International<br />expert<br />Experience in managing risk from a distance<br />Global fluency<br />4<br />Advanced<br />Adequate finance & cash flow training <br />Finance strategies<br />3<br />Intermediate<br />Integration of IT platform & accounting<br />Building strong teams<br />2<br />Operational intelligence<br />Basic<br />1<br />Mastering COGS <br />Financial statements<br />
  15. 15. June 2011<br />Confidential and Proprietary to DS&H <br />15<br />DS&H<br />www.dusaulthaddad.com<br />On becoming lean & strategic<br />CFO FOR THE 21ST CENTURY<br />Conclusions<br />Lean & strategic finance functions require a match between the CEO’s demand for<br />high standards and the CFO’s technical and managerial capabilities.<br />CFO candidates should balance their continuous professional development in a<br />mix of technical, managerial and strategic skills.<br />Coaching and training for young CFOs can greatly accelerate their potential.<br />Skills development can be structured for quick pay-offs.<br />
  16. 16. June 2011<br />Confidential and Proprietary to DS&H <br />16<br />DS&H<br />www.dusaulthaddad.com<br />EXECUTIVE EXPERIENCE AS CFO:<br />M. Du Sault has accumulated more than 20 years in corporate financial management:<br /><ul><li>Annual consolidated financial statements audited and sent to the head office on 10 January.
  17. 17. Having a budgeting and strategic process impeccably integrated to the information systems.
  18. 18. Preparing monthly executive reports limited to 10 pages, that speak loud and clear, with insights.
  19. 19. Managing international treasury (financing and hedging) programs, over and through financial crises.
  20. 20. Meticulous planning of M&A activities, with emphasis on integrating and capturing synergies.
  21. 21. Executing several corporate programs on Operational Excellence.
  22. 22. Outlining strategic guidelines for pension fund investments. </li></ul>MULTINATIONAL EXPERIENCE<br />Novartis AG (Pharmaceuticals, Agro, Chemicals, Nutrition, Animal Health, Environment), Switzerland<br />M. Du Sault was a head office delegate from 1987 to 1999, as CFO in a variety of country holdings, with revenues ranging from $US 15 M to $500 M.<br /><ul><li>Switzerland, Head Office:   Controller for Europe
  23. 23. Sweden - Auditor:  Internal audit program
  24. 24. Brazil - Controller:  Multiple financial crises, with hyper inflation (1000% p.a.)
  25. 25. Philippines - CFO & HR: Restructuring for growth
  26. 26. Spain – CFO:  Turnaround and best merger operation acknowledged within the Novartis group
  27. 27. Mexico – CFO:   Novartis merger, local economic crisis, M&A activities </li></ul>FINANCE FOR SME:<br />Worked in a variety of industrial and technology sectors, from start-ups to mid-size companies.<br /><ul><li>Fund raising for private technology companies
  28. 28. Public fund raising for Capital Pool Companies
  29. 29. Restructuring of finance departments for higher productivity and coaching new CFOs
  30. 30. M&A activities for SMEs (USA-Canada). </li></ul>About the author<br />André Du Sault<br />MBA (LBS)<br />MPA (Harvard)<br />
  31. 31. June 2011<br />Confidential and Proprietary to DS&H <br />17<br />DS&H<br />www.dusaulthaddad.com<br />DS&Hhas designed a series of programs for better CFOs <br />On becoming lean & strategic<br />CFO FOR THE 21ST CENTURY<br />DS&H CFOTraining Programs<br />For more information & insights<br />from the study:<br />André Du Sault<br />514 777-1538<br />adusault@dusaulthaddad.com<br />FINANCE FOR small SME<br />1.5-day<br />Value added beyond accounting<br />DevelopOutstanding CFOs<br />3 days<br />The foundation for senior roles<br />The CFO as co-pilot<br />0.5-day modules<br />High level expertise & influence<br />
  32. 32. On becoming lean & strategic<br />CFO FOR THE 21ST CENTURY<br />DS&H CFOIndividual Programs©<br />For more information & proposals:<br />André Du Sault<br />514 777-1538<br />adusault@dusaulthaddad.com<br />June 2011<br />18<br />Confidential and Proprietary to DS&H <br />1. Coaching the young CFO and aspirants<br />Seeing clearly ahead<br />Critical issues & smart choices<br />2. Fixing and improving the F&A dept<br />Before it all crumbles down<br />Symptoms & remedies<br />3. Mastering foreign exchange risks<br />When doing business overseas<br />A discipline & tool kits<br />
  33. 33. June 2011<br />Confidential and Proprietary to DS&H <br />19<br />DS&H<br />www.dusaulthaddad.com<br />On becoming lean & strategic<br />CFO FOR THE 21ST CENTURY<br />DS&H CFOConferences<br />For more information & insights:<br />André Du Sault<br />514 777-1538<br />adusault@dusaulthaddad.com<br />International finance<br />Mastering foreign exchange<br />Successful international partnerships<br />Doing business in Asia with no regrets<br />From great ideas to breakthrough innovations<br />Lifting strategy onto the board agenda<br />
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