The changing role of the FD needs more scrutiny

The shift in the traditional role of the finance leader from a number-cruncher to a strategic partner has been much talked about.

Discussions up to now have focused on how finance leaders can adapt to this shift, what they need to do to be effective in their new-found role and who their new competitors are.

All this talk has drowned out an important question: Are finance leaders willing participants in this shift?

As CFOs and FDs find themselves alongside business leaders, they are not handing over financial guardianship; they are instead being asked to add “business growth” to their increasing list of responsibilities – but are they being given the right support they need to embrace this new role?

To find out how finance leaders are handling this added responsibility, Dun and Bradstreet asked 200 CFOs and financial directors across the UK about the roles they perform and the issues they face.

The results were clear and provided a rare insight into the mindset of the modern finance leader and on the potential impact that the evolution of their roles could have on the wider business.

Four key trends were identified from the study:

  1. Great Expectations—The face of finance is changing at a rapid pace.
  2. Under Pressure—Finance leaders are pressured to do more with less.
  3. Smarter Decisions—Finance leaders must fuel growth with data.
  4. High Risk-Finance leaders face the danger of conflicting priorities.

 

To find out just what this means and gain invaluable insight into the modern FDs’ role, download the study here.

 

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