Future CFO 08 – Take Over The Finance Function
Overview
This module is designed to guide you through the critical transition from inheriting an existing finance function to shaping and leading one that aligns with your vision and company needs. You’ll learn how to define clear objectives for your function, assess which type of finance team best suits your organisation, and create a blueprint for long-term success. You’ll also explore the key factors in building your optimal team—ensuring you’re equipped to lead with clarity, purpose, and impact.
Learning Objectives:
By the end of this module, you will have built a blueprint for your own team and will be well-placed to create your identity during your first 100 days within module nine of this training programme.
Lessons:
Lesson 1: Overview
A clear finance function blueprint helps leaders design, align, and build an effective team with defined goals, structure, and steps to meet evolving business needs.
Lesson 2: Creating your objectives
Set clear finance function objectives and align them with overall business goals to ensure strategic contribution and operational support.
Lesson 3: Determining your outputs
When designing your ideal finance team, define each output by clarifying what it is, why it’s needed, who it’s for, and how and where it will be delivered.
Lesson 4: Allocating your budget
Redesign your ideal finance team from scratch, build a bottom-up budget based on needs, and use it to justify any investment gaps.
Lesson 5: Selecting your systems
Choose the right finance system for your needs and automate key processes to boost efficiency and accuracy.
Lesson 6: Outsourcing financial processes
Outsourcing and automation help finance teams cut costs, boost efficiency, and focus on strategic work by handling routine tasks through experts or technology.
Lesson 7: Engaging your people
Key considerations when transitioning into a CFO role include setting team priorities, aligning your finance function to strategic goals, and shaping an effective team structure from the start.
Lesson 8: Designing your finance function
There’s no single best model—CFOs should tailor the finance function to fit business needs and implement it with their team.
Lesson 9: Summary
Build an effective finance function by aligning structure, systems, and roles to your company’s needs and goals.
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