CFO Academy

By attending this course, you will learn about: The CFOs executive role, top questions and challenges Building and communicating strategy Optimizing performance by business partnering and identifying growth opportunities Long-term planning and resource allocation (e.g. capital structure mix, M&A, dividends) Delivering a responsive, scalable and cost-effective finance operating model Ensuring sound governance framework around integrity, ethics, bribery and fraud CFO responsibility and certification for Sarbanes-Oxley Implementing new or changing regulations in a timely and cost-effective manner Motivating and retaining the right people Enhancing influence with the executive board, business management and stakeholders Filtering and analysing data to communicate salient information Enterprise risk management Multinational corporate financial decisions and tackling treasury matters The course provides valuable insights into main practices being adopted by CFOs across the USA and globally to tackle current day challenges. It draws upon extensive international experiences of the Course Director, a former CFO, Global Internal Audit Manager and Group Treasurer. The course provides useful forum for networking and sharing experiences and delegates will be able to contribute to numerous group discussions and exercises as well as leveraging the experiences of each other and the Course Director.
Day 1 Introduction and Course Objectives Context of the global crisis and the ever increasing demands made on the CFO role Course Leader & Delegates Course Objectives Reasons for attending Strategic Development and the CFO Setting strategy and its links to financial objectives Building a strategic framework Strategy and the corporate life cycle Communicating strategy to shareholders and funders Understanding shareholder value and value drivers Setting priorities Communicating strategy to non-financial colleagues Leading the finance agenda Aligning finance strategy to organization’s strategy, operating plans and performance Making Strategy Work - Improving communication, tracking implementation, adapting Discussion: CFO at the heart of strategic development Group Discussion: Identify key input factors Financial Strategy Finance vision, mission, goals and values Setting a strategy for the finance function Creating and protecting value, identifying value drivers Addressing key components (e.g. capital structure, gearing) Talent sourcing and selection Communicating and delivering the Finance vision Setting targets for the operating business Main Influences - business size and sophistication Group Exercise: Creating a finance strategy Challenges Faced by CFOs Embracing financial leadership Tackling the many roles Critical success factors Managing avalanche of data Delegating responsibility Managing through the downturn Identifying growth opportunities Regulatory challenges arising from geographical expansion and changing regulations Finance workforce effectiveness (organization, leadership and training) Operational efficiency (reliability, integrity, timetabling) Keeping pace with emerging technologies and business models Driving high performance: Benchmarking to assess quality and efficiency Personal work: Developing a framework for priorities Day 2 Performance Reporting and Analytics Advanced analytic tools and executive dashboard Addressing sustainability issues New IT enablers to improve end-to-end processes Information architecture, legacy systems and manual interfaces Case Study: Enhancing quality and presentation of reports (internally and externally) Discussion: Check list for the modern day CFO Reporting with Clarity and Purpose Relevant key performance measures Communication in fewer words to non-financial audience Report formats Case Study: Pulling it all together – expectations, outcomes and enhanced reporting Hazards in the Boardroom CFO as a member of the board Board behaviours Group Think When the board disagrees Case Study & Discussion: Working harmoniously alongside fellow board members Building Relationships and Influence Building Relationships Building relationships (CEO/Audit Committee chair/ Investors/Analysts/banks) Working alongside the CEO and handling conflict or issues calling for judgment Relations with internal and external auditors Partnering with other corporate functions and business management Case Study & Discussion: Developing professional relations with the CEO, stakeholders and auditors The Influential CFO Personal effectiveness, presence and credibility Communication skills and social interactions Holding centre stage effectively Close relationship (or rapport) with decision taker Managing significant events such as cross border acquisitions Managing a business discontinuity event Discussions: How to influence people within the business Day 3 Beyond Budgeting Strategic Budgeting and Business Partnering Linking planning process to the business life cycle and strategy Budgets and rolling forecasts Level of connection and challenge Quality of business decisions Managing expectations and maintaining credibility Periodic business review meetings Discussion: Obtaining ownership, accountability and buy-in from the budget holder Corporate Finance Balance sheet optimization Capital planning & allocation (re-investment, M&A, debt servicing, dividends) Corporate financial decisions and working capital management Tax planning Discussion on international tax planning (Starbucks/Google) and impact on reputation Crisis Management Assessing situation, identify biggest problems Knowing your stakeholders, rebuilding credibility Honesty, openness, being positive, communicating clearly Scenario planning and risk assessments Responsibility and accountability Use of advisers Plan B Discussion: Why first few days are most critical? Capitalizing on M&A opportunities Defining acquisition criteria and planning acquisition process Financial and commercial due diligence Valuing and evaluating the target Deal negotiation Financing the deal Purchase and sale contract Taking charge and integrating the business Case Study & Discussion: Recent examples of worst takeover deals and what went wrong Day 4 Business & Economic Environment Managing the complex needs of all stakeholders Tackling volatility and uncertainty Scenario modeling Exercise & Discussion: Tackling future challenges Leading Corporate Treasury Strategy, mission & authorities Understanding the core treasury elements (Funding, investment, currency & interest rate risk) Alignment of strategy and policy with overall business strategy Profit centre vs. value-added centre vs. cost centre Working capital and the Cash Conversion Cycle Critical treasury risks (interest rate, currency, bank risks) Derivatives and complex financial instruments (swaps, forward contracts) International Finance and multinational corporate financial decisions Discussions: Recent prominent cases where controls have been weak or have collapsed Exercises: Treasury fundamentals / hedging instruments (Interest rate swaps/currency forwards) Sarbanes-Oxley (SOX) Review Refresh on key sections of the SOX Act CFO responsibility and certification Financial disclosures and internal controls Conflicts of interest and codes of conduct; white collar criminal penalties Discussion: Overcoming practical challenges Day 5 Corporate Governance International governance frameworks Main principles and legal responsibilities Public reviews CFO’s role in corporate governance and system of internal control Case Study & Discussion: Prominent failures in corporate governance Business Ethics Identifying an ethical framework Corporate culture and personal responsibility Appreciating importance of behaviors Connecting business values and ethical values Setting the ethical framework Exercise & Discussion: Tackling ethical dilemmas Fraud, Bribery and Corruption Fraud Motives and indicators of fraud Fraud prevention Case Study & Discussion: Warning signals and what to look for (including potential fraud in M&A) Bribery & Corruption Definitions and prohibited practices Foreign Corrupt Practices Act, OECD convention Case Study: Conducting investigations into bribery, corruption and fraud Discussion: Potential impact on business reputation End of course Quiz Course summary and close