Why Strong Financial Teams Begin With a Strong CFO Leader

August 4, 2022 Lydia Adams

business leaders discussing the best strategies to build strong financial teams

The CFO role has evolved and transitioned from accounting to operations and leadership. All modern CFOs should treat their work like their businesses, and they have to care about all the internal teams and customers. That is a challenging task, considering CFOs were taught they should focus only on finance. So how can CFOs get fantastic and strong financial teams?

In this episode of the CFO Weekly podcast, Adnan Mughal, the Chief Financial Officer at Cherry Coatings, joins us to discuss how to find and retain top talent to build a strong financial team and why CFOs should focus primarily on people instead of just numbers.

In this episode, we discuss finding and retaining the right people, how CFOs can familiarize themselves with operations, why CFOs need to put people first, among other exciting topics.

Finding and Retaining the Right People for Strong Financial Teams

Quote finding the right financial people

Getting the right people on your team is time-consuming and challenging. But once you have found them, keep them engaged, stay connected with them, and try to find opportunities to cross paths again. Furthermore, create a positive environment and challenge them so that they can learn and grow along the process. And invest the time in learning about your team.

“Treat them the way you would like to be treated”

Getting Closer to Operations

Quote adnan mughal CFO

A CFO is a business leader who focuses on the financial aspect of a business and influences operations to deliver positive financial results. To become a successful CFO, you have to establish a positive relationship with the operation team, understand their pressure points, learn the business, and help them achieve their goals.

“I've seen the transition from traditional accounting-focused CFOs into more operational finance CFOs”

Putting People First

Quote putting strong financial teams first

Help your people in terms of their career aspirations. Allow them to understand what other opportunities they have. Set challenging goals and targets for them, but do it in a way that focuses on work-life balance.

“People are the most important asset that you have”

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