What makes a great CFO? It's not the first time we have discussed this on the CFO Weekly podcast. But all our guests have personal experiences and insights you can learn from. And today's guest is Ken Brause who's joining us to talk more about building high-performing financial teams.
Ken is a strategic financial executive with experience across several financial services, healthcare, and fintech industries. He is the Chief Financial Officer at Burford Capital and is responsible for managing and overseeing global finances and financial strategy. Before joining Burford Capital, Ken worked as a CFO at OnDeck and Executive Vice President and Treasurer of CIT Group and CIT Bank.
In this episode, we discuss legal financing, what makes a successful CFO, how CFOs can build high-performing financial teams, amongst other exciting topics.
What is Legal Finance?
Burford Capital focuses on legal finance. Also known as litigation financing, settlement funding, third-party funding, or lawsuit loans, legal finance is the practice of investing in lawsuits, lawsuits through which litigants can finance their litigation or other legal costs through a third-party funding company.
“At its core, legal finance provides liquidity and financial resources against a situation where somebody has been wronged and wants to bring legal action to recover their damages”
What Makes a Successful CFO?
Firstly, you need to have financial and business acumen. Secondly, you need to be disciplined and able to manage challenging situations. Thirdly, be focused, see and plan ahead, and be curious. Lastly, build strong relationships with all stakeholders.
“As a CFO, you are a partner to the business, and you have to understand the business drivers, core competencies, and how the company will grow and create value”
How Can CFOs Build High-Performing Financial Teams?
Create clearly defined roles so that people know their responsibilities. At the same time, make your team aware of its impact on the business and its stakeholders. Lastly, you want a team that looks ahead and anticipates what could be occurring in the future.
“I think about the three A's: accountability, awareness, and anticipation”
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