move from CFO to CFO

move from CFO to CFO

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Corporate finance: moving from CFO to CFO

The finance function has changed a lot in recent years. The technical competence of the DAF is no longer enough. He must now be a good communicator and know how to position himself as a strategist.

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It’s a real paradox: although its image has been seriously damaged in recent years, there has never been so much need for the finance function in a company. ” What suffered was not so much the finance function as finance itselfanalyzes Vivien Levy Garboua, director of the Executive Master in corporate and market finance at Sciences Po. Finance in general took a hit, as behaviors came to light and were condemned. But, in business, the CFO remains essential.

The administrative and financial director remains the key person who ensures the reliability of the accounts, manages the cash flow, relations with the banks… but not only. It is no longer enough to have an a posteriori approach to validating the accounts and now deploys a more forward-looking vision. His role is more that of a pilot than that of a policeman. ” It is a central element of the company’s strategysays Vivien Levy Garboua. It’s a bit like the control tower, number two. He is one of the few people who can and should say no to the boss when necessary.

The DAF function has also evolved towards more communication. From the only relationship with bankers, he moved on to regular contact with the markets: analysts, investors, specialized press…” The CFO must be able to express himself, both in French and in English, and sometimes answer embarrassing questions, emphasizes Vivien Levy Garboua. He is in contact with the outside world. He must know how to talk to people and he has the answer to everything. “

From CFO to CFO

In addition to this, the CFO of tomorrow will have to know how to manage the arrival of Fintech. ” We don’t yet know exactly what will change, but what is certain is that technology will shake up finance in the years to come.predicts Vivien Levy Garboua. With computerization, there is more data, faster and with more transparency. At the center of the company, the CFO is directly concerned. He must be able to understand specific problems and quickly grasp their implications.

In recent years, the administrative and financial management has become a very complete function, closer to the CFO than to the DAF. Training must necessarily follow the movement. This is why Sciences Po overhauled its Executive Master in corporate and market finance – The emerging CFO a year ago. A 15-month course which welcomes around twenty executives (managers, lawyers, engineers) in continuing education each year. They acquire the fundamentals of financial techniques and an in-depth approach to the macroeconomic environment. At the same time, many cases and role-plays allow you to approach business aspects such as management and communication.

Learn more about training.

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