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The Key to Effective RiskManagement in Business with Chris Weeks, CFO Center UK In the latest CFO Club podcast, we had the pleasure of hosting Chris Weeks from CFO Center UK. Chris shared invaluable insights into effective riskmanagement strategies and how businesses can better prepare for uncertainty. The key takeaway?
The Role of a CFO in Financial RiskManagementManaging financial risks is crucial to ensuring long-term business success. However, small business entrepreneurs are particularly ill-suited for riskmanagement: optimistic, energetic, and abstract. What is Financial RiskManagement?
As the founder of By Choice Consultancy, she specializes in helping individuals and organizations overcome decision-making challenges by integrating behavioral insights, financial expertise, riskmanagement, and strategic thinking.
Working in concert with the chief information security officer, the CFO can “better understand the probability and exposure to risk, set metrics on spending and ROI, and communicate recommendations for prioritizing cybersecurity spending,” they wrote. You can unsubscribe at anytime. Registered in England and Wales. TechTarget, Inc.s
Speaker: Dr. Karen Hardy, CEO and Chief Risk Officer of Strategic Leadership Advisors LLC
Communication is a core component of a resilient organization's riskmanagement framework. However, riskcommunication involves more than just reporting information and populating dashboards, and we may be limiting our skillset.
The CFO’s role inarguably has evolved over the years, beyond traditional financial management encompassing strategic decision-making and risk mitigation. Further, riskmanagement is another area where the CFO shines. They know where sources are being spent and how to optimize those expenditures,” Johary explains.
I believe in breaking challenges down into manageable tasks, which makes them less overwhelming and easier to address systematically. I also rely on open communication and collaboration, particularly when the challenge involves a team. This helps in developing a well-informed strategy to tackle the problem.
Modular systems and automation are revolutionizing FX riskmanagement, enhancing visibility, agility, and adaptability. With FX riskmanagement, adaptability is critical because every company has its own risk profile shaped by its market, currencies, and business model.
This is the findings of the Association of Chartered Certified Accountants in a recent report, revealing that accounting professionals are posed with three hurdles: identifying and managing AI risk as a user in any role, supporting a collaborative approach to riskmanagement, and helping to understand and prepare for regulatory compliance.
This article aims to provide practical, actionable insights into effective riskmanagement strategies that you can implement within your organization. Understanding RiskManagement in the CFO Role Riskmanagement is an integral part of the CFO’s stewardship role.
Providing support to an organisation's finance team is a must in intensifying the focus on riskmanagement. In the Association of Chartered Certified Accountants' Rethinking Public Financial Management report, 73.4% of respondents believed risks to their organisations would increase in the future.
Harding emphasises the importance of "the abilities to influence, the abilities to lead, the abilities to communicate and the ability to inspire." The ability to analyse data, identify insights, and communicate those insights effectively is highly valued.
Gopal's research has appeared in Management Science, Management Information Systems Quarterly, Operations Research, INFORMS Journal on Computing, Information Systems Research, Journal of Business, Journal of Law and Economics, Communications of the ACM, IEEE Transactions on Knowledge and Data Engineering, Journal of Management Information Systems, (..)
While legal and communications teams may lead initial responses, it is the CFO who must rebuild the financial and reputational foundations of the business. Enhancing Internal Controls and RiskManagement A scandal often reveals weaknesses in internal controls. Communicating regularly with internal teams is essential.
Identifying investment objectives and achieving stakeholder buy-in is the critical first step in connecting these objectives to portfolio construction.
Mee‑Hyoe Alana Koo is a multilingual communication, education, and content professional with more than 15 years of experience spanning journalism, translation, interpretation, and strategic consulting. as CEO, crafting thought‑leadership content, managing global sustainability projects, and overseeing digital strategy.
Huruda de Castro Malungane : ESG, Ethical Leadership, and Breaking the Isolation in Africa In a captivating episode of CFO Club Conversations , Leana van der Merwe speaks with Dr. Huruda D’Castro Malungane, an extraordinary leader at the intersection of finance, governance, risk, and human capital. ESG is very close to my heart.
As you gain experience, start paying attention to strategic thinking and riskmanagement, which are critical at the executive level. Learning to analyse financial data with a strategic lens, understanding broader business impacts, and identifying potential risks are essential skills for any future CFO.
. “Credit management is an essential support system for the company’s sales efforts; with no sales, there would be no receivables, nor the working capital needed to sustain and grow the company.” Share Expertise: Communicate your credit knowledge, industry trends, and benchmark customer comparisons with the sales team.
This proactive approach not only aids in financial riskmanagement but also equips businesses with the foresight needed to navigate uncertainties confidently. Establishing clear credit policies and maintaining open communication channels with clients also contribute to faster payment cycles.
In delivering results, 15% say cost control must be looked into, while 10% voted for riskmanagement and 7% on smart investment decisions. This is why inter-department collaboration has become essential for effective communication, while adaptability and agility are crucial in navigating the complexities in the finance landscape.
While these challenges remain, firms must also assess and managerisks related to human rights, war, economic turmoil, foreign exchange volatility, cyberattacks and the implications of noncompliance. Today, supply chain and supplier riskmanagement is a beast. More and more, we encourage the flow of communication.
Family offices are adopting innovative operational models, empowering next-generation leadership, and prioritizing riskmanagement to safeguard their legacy and drive sustainable growth.
Paula Leynes Felipe, Regional Manager, Upstream and Advisory, Eastern and Southern Africa, Financial Institutions Group, International Finance Corporation. She led the RiskManagement Practice Group in IFC Asia prior to her mangerial role in Africa. Because, again, its going to affect the overall asset portfolio at the back.
Effective communication and collaboration are no longer just nice-to-have — they are essential for driving success. The Office of Finance is at the heart of every organization, overseeing financial strategy, riskmanagement, and operational efficiency.
What Every CFO Should Know to Protect the Business (and Their Career) You dont need to be an actuary or compliance expert to understand risk. Riskmanagement isnt a luxury, its a core leadership function. Response Tactics: Dont Just PlanDecide Once youve mapped your major risks, its time to make decisions.
This ensures their communication systems are optimized for performance and security. Outsourcing also enables internal teams to concentrate on essential business tasks rather than getting weighed down by the challenges of telecom management.
and Google’s existing and new relationships through improved communication methods,” the release says. Due to the SAP Ariba Network, suppliers have access to better visibility for invoices and orders, with the ability to self-manage account information, submit invoices electronically and receive new purchase orders. Last October, U.S.
Strengthening Internal Controls and RiskManagement Internal controls form the backbone of audit readiness. Open lines of communication with relevant departments help ensure data accuracy and expedite the audit process by addressing potential concerns upfront.
Through structured communication and collaborative problem-solving, Wong says he focuses on fostering clarity at every level, eliminating confusion, and driving unified efforts. The ongoing geopolitical tensions, economic uncertainties, and market volatility call for a sharper focus on riskmanagement and strategic decision-making.
As a result, private banks are emphasizing the importance of geographic diversification, riskmanagement, and tactical asset allocation to navigate these challenges. GF: How do you communicate that to clients? Frame: We communicate the value of our market views through regular updates, reports, and personalized consultations.
This level of commitment enhances Financial RiskManagement , allowing potential pitfalls to be identified and mitigated long before they impact the business. Constant delays and poor communication led to missed tax deadlines, penalties, and a significant hit to their financial stability.
A proactive approach to riskmanagement, coupled with established compliance protocols, will safeguard organisational integrity. Giselle Arellano-Geronimo Navigating change management Transitioning from decentralised to centralised finance functions is no small feat. Yong acknowledges that governance is a critical dimension. "In
Don’t let scenarios muddy communications: Leaders can use scenarios without abdicating their leadership responsibilities but should not communicate with the organization via scenarios. One additional point about communication and scenarios is worth noting. Scenarios can help leaders avoid looking stupid.
More than a third (36 percent) of survey respondents said fraud monitoring and risk mitigation are the areas in which CFOs are most falling short. That’s followed closely by performance riskmanagement and strategic/operational riskmanagement, each cited by 32 percent of survey respondents as areas in which CFOs fail to deliver.
Engagement : This approach involves active communication with companies to improve their governance structure. By using these strategies, investors can support companies that prioritise sustainability ESG and responsible management. Investors look for companies that align with these themes.
This was the focus of the New Jersey Chapter of the CFO Leadership Council at its May 2017 panel discussion titled “How Much Risk Is in Your RiskManagement?” Moderated by Angela Tise of the CFO Leadership Council, the panel included Claire Doherty, Director of the Risk Consulting Practice at KPMG, Brian J.
NFRA has released its second Auditor-Audit Committee Interaction Series, emphasizing the need for transparent communication and strategic risk assessment. How can audit committees ensure robust audits? The report provides key insights.
The talent challenge is now becoming a table stake for all leaders, with 55% of respondents to the same PwC Pulse Survey acknowledging this as a serious business risk, 78% that plan to enhance their cyber riskmanagement, and 42% who want to see accountability for climate change governance being assigned to a person-in-charge.
Another panelist highlighted their investment in inventory, as well as managing growth in the business. How do you balance the core responsibilities of Finance with riskmanagement? Making timely, relevant, and accurate data available across the business is critical to effective decision-making and riskmanagement.
ManagingRisksManagingrisk is a critical part of financial planning. AI can analyze client portfolios to detect areas of high risk and recommend adjustments to align with their risk tolerance levels. Picture automating repetitive tasks , making better decisions, and spotting risks faster than ever.
Keep the lines of communication open throughout the project. Focus on RiskManagement Every financial project comes with risks—whether it’s budget overruns, delays, or unforeseen challenges. A proactive approach to riskmanagement can save a project from failure.
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