CFOs & Finance Directors Program

Course Overview

What is the role of a CFO or Finance Director? A lot of it is up to you to determine. This three day program has been designed for CFOs and Finance Director to explore the 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 course will explore the position of the CFO / FD 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 / FD 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 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. The content of the course will be tailored to reflect the needs and experiences of the participants.

Learning Outcomes

Attend this course and learn:

• 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
• The breadth of the role of the CFO / FD
• How to deal with challenges in areas where is there is no formula, no recipe, no “right” answer

Course Outline

Day One

On the first day we establish the context for the CFO by understanding what strategy is and how this influences financial targets.

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

Discussion: CFO at the heart of strategic development

Group Discussion: Identify key input factors

Day Two

Today we 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.

Financial Strategy

• Designing 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

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

• 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

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

Corporate Governance

• International governance frameworks
• The UK Corporate Governance Code 2010 ­ main principles
• The Companies Act 2006 ­ Directors responsibilities in law
• Corporate governance and public reviews
• CFO’s role in corporate governance

System of internal control

Day Three

On the final day the content of the program will be designed to suit the interests of the participants. We will cover topics which will include corporate finance, investment appraisals, valuation, mergers and acquisitions, treasury management, risk management and understanding yourself as a leader. The objective will be to leave participants with a personal action plan to apply the issues developed over the course of the three days.

Corporate Finance

• 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)

Course summary, handing out of certificates & close

Who should attend?

This highly interactive program is designed specifically for:

• Chief Financial Officers (CFOs)
• Finance Directors
• Heads of Finance
• Chief Accountants
• Senior Finance Managers
• Finance Controllers