Roadmap to the modern CFO office

Newly designated CPAs have a wide range of options ahead of them, but for many, the CFO office remains the ultimate goal.  However, today’s CFO looks very different from decades past. Advanced technical skills are now just table stakes. CEOs are looking for CFOs to be strategic partners focused on growth and increasing shareholder value.  According to our first guest, this means aspiring CFOs need to accumulate a wide range of experiences beyond finance. Ross Woledge is Partner at Odgers Berndtson, an international executive search firm. He is head of the firm's CFO practice. Ross says CEOs are looking for CFOs who have experience running business lines, managing a wide range of employees and building value for shareholders.“The technical is absolutely table stakes, and you need that. You can't get to the strategic without that, but having that strategic acumen, CEOs are absolutely adamant that that's what they want,” says Ross Woledge.Geoff Lowe agrees with this. He is CFO for Enercare, one of North America's largest energy services providers. It's a bit of a switch from positions he held earlier in digital media and publishing with Rogers.  “Today's companies are so dynamic, and they require CFOs to have, really the full range of technical finance knowledge but also combined with having the requisite leadership skills, along with strategic and commercial acumen,”  he says. He adds, “Sometimes it's easier said than done.”Today’s episode lays out a roadmap to the modern CFO office.Key Takeaways:1:15  - What recruiters are looking for when seeking CFO candidates2:45  - How the CPA designation offers a critical competitive advantage to candidates6:30  - Examples of CFOs whose career paths moved beyond finance12:35 - Why we are entering the era of the CFO14:17 - Judy Adam describes her journey to CFO of Fire and Flower17:25 - Judy Adam describes how her role as CFO encompasses a lot more than just overseeing finance.18:42 - Advice to CPAs who've got their sights set on the CFO positionLearn more about CPA Canada's Foresight initiative, go to foresight.cpacanada.caTo learn more about Foresight: The CPA podcast or CPA Canada's Foresight Initiative visit:Foresight: The CPA PodcastCPA Canada's Foresight InitiativeCPA Canada EnglishCPA Canada (Français)Disclaimer: The views and opinions expressed in this podcast are those of the guest and do not necessarily reflect that of CPA Canada.Avertissement : Les opinions et les points de vue exprimés dans cette série de balados sont ceux de l’invité et ne représentent pas nécessairement ceux de CPA Canada.