Wim Van der Smissen, VP of Finance & IT for Bemis Europe, gave a presentation on growing future finance leaders. He discussed challenges such as finance roles becoming more multi-faceted and integrated finance departments becoming networks of external providers. He emphasized building future finance leaders through skills like commercial insight, leadership, international exposure, and finance transformation experience. Succession planning must be strategic, identify talent early, and provide cross-functional experience to develop well-rounded finance leaders for the future.
Companies often fail to maximise their performance because
• Managers do not fully understand the technical elements of their operations
• The technical specialists do not fully understand the managerial requirements
• Managers do not keep up to date with technological advances in their sector
• Technical specialists do not keep pace with evolving management practice
Nick Wensley, Business Adviser, Young Enterprise Programme who will cover business cases past, present and future and consider what the future holds for developing business cases.
Companies often fail to maximise their performance because
• Managers do not fully understand the technical elements of their operations
• The technical specialists do not fully understand the managerial requirements
• Managers do not keep up to date with technological advances in their sector
• Technical specialists do not keep pace with evolving management practice
Nick Wensley, Business Adviser, Young Enterprise Programme who will cover business cases past, present and future and consider what the future holds for developing business cases.
Executive Careers Interview: Jules Smith, Head of People Services at Virgin M...Nigel Wright Group
Jules Smith has followed her dream and risen to the top of her profession. In this interview, she shares with Nigel Wright what has driven her to succeed during her twenty-year career in HR. She also discusses her passion for employee engagement and its direct link to positive customer outcomes.
When you need to change behavior, it's not as easy as making people aware by telling them, you have to bring through an experience that takes them from awareness all the way through sustained behavioral shift.
This presentation walks through the process I have developed over many years working with social enterprises, NGOs and Fortune 500 companies to help people (consumers) develop sustainable, socially-responsible behaviors.
Originally given as a solo talk at BECC (Behavior Energy and Climate Change Conference) and adapted as a 3-hour Keynote and Workshop at IGEN.
Destilados no Mundo: Como o Brasil pode aproveitar a globalização das bebidas...Euromonitor International
Esta apresentação traz um panorama do mercado de destilados no mundo, o papel do mercado brasileiro neste contexto e as tendências para este segmento no futuro.
Three issues dominated much of the Brexit referendum debate: trade, investment and migration; and they will continue to dominate during the exit negotiations. Uncertainty is the key word when analysing the outlook for the UK, with much depending on the UK government’s ability to negotiate trade agreements in a timely manner. Here we investigate the post-referendum economic landscape and explore the potential impact on the UK of a disorderly exit, as well as the impact on key economic indicators should the UK have a change of heart and remain in the EU.
Executive Careers Interview: Jules Smith, Head of People Services at Virgin M...Nigel Wright Group
Jules Smith has followed her dream and risen to the top of her profession. In this interview, she shares with Nigel Wright what has driven her to succeed during her twenty-year career in HR. She also discusses her passion for employee engagement and its direct link to positive customer outcomes.
When you need to change behavior, it's not as easy as making people aware by telling them, you have to bring through an experience that takes them from awareness all the way through sustained behavioral shift.
This presentation walks through the process I have developed over many years working with social enterprises, NGOs and Fortune 500 companies to help people (consumers) develop sustainable, socially-responsible behaviors.
Originally given as a solo talk at BECC (Behavior Energy and Climate Change Conference) and adapted as a 3-hour Keynote and Workshop at IGEN.
Destilados no Mundo: Como o Brasil pode aproveitar a globalização das bebidas...Euromonitor International
Esta apresentação traz um panorama do mercado de destilados no mundo, o papel do mercado brasileiro neste contexto e as tendências para este segmento no futuro.
Three issues dominated much of the Brexit referendum debate: trade, investment and migration; and they will continue to dominate during the exit negotiations. Uncertainty is the key word when analysing the outlook for the UK, with much depending on the UK government’s ability to negotiate trade agreements in a timely manner. Here we investigate the post-referendum economic landscape and explore the potential impact on the UK of a disorderly exit, as well as the impact on key economic indicators should the UK have a change of heart and remain in the EU.
How to Market to Today's C-level Corporate Finance ExecutivesJohn Kogan
Download white paper and attend a webinar
on How to Market to Today's C-level Corporate Finance Executives:
http://proformativeinsights.com/library/white-papers/white-paper-how-to-market-marketing-to-cfos-controllers-treasurers-corporate-finance-executives/
Ii a - cooney issues and policies in entrepreneurship skills developmentOECD CFE
The upgrading of workforce skills is key to the competitiveness of SMEs. In today’s business environment there is a premium on innovation that enables firms to develop new products and services, new production processes and new business models. This requires both in-house innovation and the ability to absorb knowledge from other firms and organisations, both of which call for a skilled labour force. Skills are also a critical but understated resource for entrepreneurship seen in the sense of business creation. Similarly to workforce skills, entrepreneurship skills will boost the competitiveness of local businesses thanks to the improved strategic and management competences of the entrepreneur.
These slides were presented by Ricky Foo in the annual CEO Seminar that was co-hosted by Mercuri Urval and Executives' Global Network (EGN) in Singapore
The DLP is designed to equip participants with the know-how and the strategic tools to enable them to effectively drive departmental performance. This includes examining a balanced approach to leading and directing automotive retail operations in a way that accommodates the three dimensional requirement of achieving optimum market penetration, providing exceptional levels of service and generating superior returns for the business.
Vice President, Global Accounts, ConnectivityJeanette Bodkin
Leading both strategy and execution, an opportunity for someone to practice their accounts/client experience expertise before moving into another IIOT orientated leadership role.
Certificate in Strategic Finance for Non-Finance ManagersIIR Middle East
This course would help you to transform financial and accounting language and concepts into decision making tools that the non-financial manager can successfully use
Finance Fast and Furious for Australian SMEsTim Richardson
Applying the lessons of the modern European finance team to Australian SMEs, to help businesses become more focused on opportunities and gain the agility to respond quickly and effectively.
Running Head: REFLECTIVE ESSAY 1
REFLECTIVE ESSAY 6
Reflective essay
Student Name:
Institution:
Professor:
Course Title:
Date of Submission:
Reflective essay
It is while and I will out to the corporate world. I intend to join my uncle’s enterprise as I prepare to start my enterprise in the next five years. I thought I had financial intellect until I began my finance classes. Everything seemed okay then. I thought I would manage the finances of the biggest company in the world and emerge successful.
I have overtime amassed so much knowledge and understanding. This has been possible the lecture and other academic activities that I have engaged in. The exams I have been writing have not been easy. I would get excited, nervous and curious as I wrote my papers within the semester and at the end of it. The feeling would escalate when I went to check my grades. The fear of failure always made me read harder and smarter; thankfully, I have never received a failing grade.
It was quite challenging to make decisions on eating, studying, time management, socializing and health matters when I first joined campus. This was made worse by status as an international student. This to me was a major transition. I was responsible of my actions and choices. I had to learn juggling and flexibility. It was of great importance that I balance my freedom with the needs at home, freedom and my responsibilities as well as my studies and social life. Worse still, I had to pay so much fees since I was an international student.
Knowledge in finance is critical in managing fiancés in an organization effectively, wealth creation as well as increasing the value of an organization. This has been facilitated by the topics we studied in the course. These topics include planning, raising finances, making wise investments and controlling finances. This knowledge has highly shaped my desire in venturing in corporate finance.
In our contemporary society, business leaders are looking for a well-rounded finance student and one who is well-skilled in matters finance.
Moreover, the course has impacted additional skills like communication, critical decision making, strategic and quantitative skills. This was possible by the fact the course offers quality services that are outside the traditional curriculum.
The value of a finance course
The value of a career in finance cannot be underestimated. The profession is not about to expire any soon. As long as money navigates the world, a finance graduate will be highly valuable. The world needs the finance professional. Any industry can hire a finance professional. This tells you the value of this course.
During our study, the lectures used a real-life approach. The subject becomes highly practical. This was beneficial has it stimu ...
Similar to Wim Van Der Smissen, VP Finance at Bemis - Growing Future Leaders (20)
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4. Introduction
Founded 1858 as a packaging company
$5.3 billion 2011 net sales
Fortune 500 Company
Barron’s 500 Company
S&P 500 Company
NYSE: BMS
Bemis Headquarters
80 facilities; 12 countries
Global Headquarters: Neenah, Wisconsin
Over 20,000 employees worldwide
11. Today’s Challenges for finance
• Internal challenges :
– From a bean-counter to a multi-faceted Finance role
– From an integrated finance department to a network of service providers
• External challenges :
– Managing different generations of managers
– The talent shortage
12. From bean counter to multi-faceted finance role
Implications for Talent Development :
-Only good finance skills will probably not
get you to the top
-Much broader training needed :
- Multiple Finance skills
- Other functions
- Other skills and competences
-Risk of loosing people to other functions
in the process
Deloitte-model
13. From an integrated finance department to a network of service providers
Implications for Talent Development :
-Need for a completely different skill set
(from managing local team to managing a
network of external partners)
-Natural training ground lost
-Future finance persons will never have worked
day to day in accounting department
14. Managing different generations of managers
Implications for Talent Development :
-Sensitivity for completely different
needs of the different generations
-Do we need different tools/approaches
for different age groups ?
15. The talent shortage
Implications for Talent Development :
-Make sure you are attractive on the
market when recruiting (Employer
branding)
-Retention of employees becomes
a vital element for companies
18. Building future finance leaders
Building blocks
•Gain a breadth of finance expertise Diversity is more important than vertical focus
•Develop commercial insight Temporarily step out of finance
•Seek out M&A experience Get post- as well as pre-deal exposure
•Obtain a balance of traditional and Traditional finance skills remain critical,
non-traditional skills but will not differentiate
•Develop leadership skills Build teams with diverse skills
•Get international exposure An understanding of emerging market dynamics
is important
•Gain experience of finance transformation Get big project experience
initiatives
•Get exposure to the market and its stakeholders Communication and networking
19. Building future finance leaders
Guiding principles
•Talentful finance people are identified early and groomed for future positions
Succession planning is strategic and purposeful, it can’t be left to chance
•Finance leaders are well rounded, they know the business inside out
Future executives should be given cross-functional experience
•Consistent talent reviews and better communication improve succession mgmt
A well-organized succession management program is paramount for success
•The weakest succsion pipeline is in tax and functional finance
Proactive recruitment and training strategies are needed to close the gaps
•The retention of finance talent becomes a challenge as the economy gets stronger
A combination of the leading practices can keep a pipeline intact
20. Building future finance leaders
The tools and processes
Performance evalution
Individual development
Succession planning
programmes
Training programmes Job Rotation
Coaching/Mentoring
21. Conclusions
Homework : a check-list
•Do you have a formalized succession program for finance talent ?
•Do you have talent identification and communication of talent across the whole of finance ?
•Do your high-potentials gain cross-functional experience ?
•Do you have visible participation of finance in cross-functional assignments ?
•Is business knowledge an essential element for a successful finance career ?
•Is your talent pipeline heavily dependent on external hires ?
•Are you effective in building a culture of active mentorship and self-driven career development?
•Is management of external providers a key building block in a finance career path ?
•Is there a risk that your top talent will leave for better career opportunities ?
•Have you thought through the different aspirations of the different age groups within your
finance organisation and how to link them into the overall finance talent strategy ?