This three day program has been designed for CFOs and Finance Directors to explore their ever widening role and to examine some of the areas that are not part of the routine training for senior finance professionals, who frequently progress through a technical accounting or other financial discipline route.
The program will explore the position of the CFO & Finance Director in the wider business or organizational context, providing frameworks to assess the financial components of strategy as well as exploring what that means for reporting as well as areas such as acquisitions and valuations which many CFOs or FDs only encounter rarely.
Success as a CFO or Finance Director is rarely determined by technical ability. Mastery of the technical aspects of finance is taken as a given; what makes the difference is the ability to operate in areas where there is no right answer. This could be strategy or establishing good working relationships with board colleagues from other functions or dealing with conflicts between stakeholders.
For the newly appointed or aspiring CFO / FD, this course will give a clear road map of the journey ahead, and an introduction to the full range of skills they will need to succeed. For the established CFO or FD, it will offer advanced techniques, interaction with peers and a range of ways in which they can expand their role to increase the value they bring to their organisation.
Attend this course and learn:
- The breadth of the role of the CFO / Finance Director
- What distinguishes a great CFO / FD from a merely adequate one
- How to become more than just “the person who does the numbers”
- How to expand your role and increase your value to your organization
- How to deal with challenges in areas where there is no formula, no recipe, no “right” answer
On the first day we establish the context for the CFO by understanding what strategy is and how this influences financial targets. We also look at governance and how this links to strategic objectives.
Introduction and Course Objectives
- Defining the purpose of the organization and the role of the CFO in delivering that
- The ever-increasing demands made on the CFO role
Strategic Development and the CFO
- Establishing the organisation’s purpose and objectives
- Setting strategy and its links to financial objectives
- Setting a strategic framework
- Types of strategy and strategy in the corporate life cycle
- Strategy – two views: industrial economics and resource-based strategy
- Communicating strategy to shareholders and funders
- Understanding shareholder value and value drivers
- Setting priorities
- Leading the finance agenda
- Aligning finance strategy to organization’s strategy, operating plans and performance
- Making Strategy Work Improving communication, tracking implementation, adapting
- Setting a financial strategy
Discussion: CFO at the heart of strategic development
Group Discussion: Identify key input factors
- International governance frameworks
- Corporate Governance Code main principles
- Directors responsibilities in law
- Corporate governance and public reviews
- CFO’s role in corporate governance
- System of internal control
On day two, we will look more closely at designing the financial elements of strategy but then also how to be effective as a CFO.
Specifically, we consider how reporting can both help and hinder influencing the organisation before looking at personal relationships at the board and in the senior team – including dealing with difficult directors.
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
- 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
Group Exercise: Creating a financial strategy
Reporting with Clarity and Purpose
- Relevant key performance measures
- Linking KPIs to strategic objectives and near-term deliverables
- Quality of business decisions
- Managing expectations and maintaining credibility
- Periodic business review meetings
Discussion: Obtaining ownership, accountability and buyin from the budget holder
- Communication in fewer words to nonfinancial 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
Discussion: Working harmoniously alongside fellow board members
Building Relationships and Influence
- Building relationships (CEO / Chairman / Audit Committee chair/ Investors / Analysts / banks)
- Working alongside the CEO and handling conflict or issues calling for judgment
- Relations with internal and external auditors (incl. new legislation of rotating auditors)
- Partnering with other corporate functions and business management
Discussion: Developing professional relations with the CEO, stakeholders and auditors
Discussions: How to influence people within the business
On day three, we will look at corporate finance in more detail as well as understanding how to value businesses and some of the tactical issues in making acquisitions.
- Balance sheet optimization
- Capital planning and allocation
- Reinvestment, M&A, debt servicing, dividends, share buybacks
- Tax planning
Discussion: On international tax planning (Starbucks/Google) and impact on reputation
Capitalising 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
Risk Management and Leading Corporate Treasury
- Building a risk framework
- Business risk and financial risk
- Reporting risk
- 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. valueadded 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)
End of Course / Questions and answers
This comprehensive three-day course is designed specifically for:
- Chief Financial Officers (CFOs)
- Finance Directors
- Financial Controllers
- Senior Finance Managers
- Chief Accountants
- Heads of Finance
Dr Lance Moir
The Course will be delivered by Dr Lance Moir. Lance has over 30 years financial experience as CFO, Corporate Financier and Treasurer in international companies.
He had been CFO of WIN plc and Executive Director of IMImobile, Group Finance Director of First Choice Holidays PLC, Director of Corporate Finance at Bass PLC and Head of Corporate Finance and Strategy at Storehouse PLC.
He currently has a portfolio career as Company Chairman, adviser, Non-Executive Director and management educator.
He is a Visiting Professor at Cranfield School of Management, where he was on the full time faculty, and was a Non-Executive Director and Chair of the Audit Committee of Henderson Global Trust PLC. Lance is currently Chairman of three different businesses and invests in a number of early stage businesses.
He has a PhD from Cranfield and has published in a number of academic journals including The Journal of Business Ethics; Corporate Governance –The International Journal of Business and Society, Accounting and Business Research.
He is the author of Managing Liquidity and a number of book chapters. He is a fellow of the Association of Corporate Treasurers, where he was a member of council and a Fellow of the Royal Society of Arts.
Holiday Inn Hotel, Sandton – Johannesburg
20 – 22 Feb 2019
Local Fee: R 39,999
International Fee: $ 2,999
Get 15% discount, when you register 3 or More delegates.
Get 10% discount, when you register 3 months before the course’s start date.
Get 5% discount, when you register 2 months before the course’s start date.
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