In an article in Boss magazine, Gary McGaghey goes into detail about different paths to reach the status of a Strategist Chief Financial Officer (CFO). The focus of the piece is the changing role of a CFO. That position is now engaged in directing the strategy of the corporation on different levels.
A CFO as a strategist combines knowledge of the strategies, or goals, of an organization with its financial ability to accomplish those projects. McGaghey discusses the ways a CFO can function within the corporate structure. They are spelled out from least to most involved.
One is a responder. In this capacity, the CFO assists the business leaders in letting know how their strategy will affect the financial situation of the organization. Basically, a responder provides the pertinent financial data for leadership to utilize.
Another role is challenger. That person questions each strategy and how it will relate to the financial health of the entity. Challenging means reviewing and asking hard questions
The third way a CFO can be a strategist is an architect. This takes the challenger to a new level. The CFO is actively involved in the strategy rather than waiting to question it at a later time. The architect must be a trusted member of the team so the input will be accepted.
The fourth and final way is the role of a transformer. It takes the CFO to a highest level. The person is directly involved in all aspects of the strategy. This is the ultimate role changer for a CFO. They are now part of the team in every sense of the word.
Private equity specialist Gary McGaghey has made a career producing growth for the firms that have benefitted from his leadership as a CFO. He focuses on cash flow management and balance sheet refinancing. More information about Gary McGaghey, please visit at https://www.f6s.com/gary-mcgaghey