7 competencies of a strategic CFO

first_img continue reading » 19SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr Chief financial officers (CFOs) can’t merely be number-crunchers, they must be problem-solvers.That’s the challenge Sally Myers, CEO/principal at c. myers, offered Monday to CUNA CFO Council Conference attendees.“You’re in a perfect position to detect and distill statistical irregularities and make observations and decisions that increase efficiency and revenue,” Myers says. “You’ve got to be curious. Ask ‘why’ to the power of five. Find the real problem at the heart of the issue.”Becoming a more strategic CFO takes a change in mindset, but can’t happen overnight, Myers cautions. “It takes practice, diligence, focus, making mistakes, and figuring out how to bring the rest of your team along,” she says.Myers and Rob Johnson, executive vice president and principal at c.myers, shared seven competencies of a strategic CFO:1. Master both the numbers and the dataUse information to drive the credit union forward, so much so that departments want to be cohesively linked versus siloed.Use your analytical skills to break down nonfinancial numbers, such as Net Promoter Score and your demographic spread to determine why and where you’re falling short.last_img read more