FNCCI CFO Luncheon Series 4: Navigating Change in the Evolving Role of Financial Leaders

The CFO Luncheon Series 4 focused on the evolving role of financial leaders and the skills they need to thrive in today’s dynamic business environment. The event stressed the importance of adaptability for CFOs and the need to stay updated on industry trends and regulatory changes to effectively navigate the ever-shifting landscape.

The discussion went beyond the traditional perception of CFOs as number crunchers. Speakers emphasized the strategic role they play in driving business goals. This includes creating tools and fostering practices that ensure overall sustainability and growth for the organization. Inclusivity was another key theme. Attendees learned how CFOs can champion practices that create a more inclusive work environment, ensuring adherence to regulations while fostering diversity within the company. The CFO Luncheon Series 4 offered a glimpse into the ever-changing world of financial leadership. Adaptability was the mantra for Morounke Olufemi, CFO of Access Holdings Plc. She emphasized the need for CFOs to constantly learn and stay abreast of industry trends and evolving regulations. This agility allows them to navigate the dynamic business landscape with confidence; it involves creating tools and fostering practices that ensure the organization’s overall sustainability and growth.

Dr. Anaso highlighted their efforts in encouraging members to integrate Environmental, Social, and Governance (ESG) practices within their companies. ICAN also plays a crucial role in promoting the adoption of international financial reporting standards (IFRS) and provides resources to build capacity for successful ESG integration. She also emphasized how CFOs can champion practices that create a more inclusive work environment, ensuring adherence to regulations while fostering diversity within the company.

Sustainability emerged as a core value. Osamudiame Adams, Audit Partner at Mazars, stressed how prioritizing sustainable practices becomes a central focus for CFOs, even when it might initially appear to increase costs. Long-term success hinges on adopting environmentally and socially responsible practices.

Cybersecurity risks were a major concern. Fiyinfolu Okedare, Director of Consulting at Mazars, urged CFOs to invest significantly in robust cybersecurity measures. This is crucial to protect against evolving threats, particularly social engineering scams that can be highly deceptive.

The forum concluded by emphasizing the critical leadership role CFOs play. Patrick Akinwuntan, Academic Director for CFOs at Lagos Business School (LBS), underscored their importance as value creators within businesses. Effective leadership requires collaboration with CEOs, as highlighted by Akinwuntan. CFOs need to understand the CEO’s vision and work collaboratively to guide managers towards achieving strategic goals. The event served as a testament to the ongoing commitment to fostering business growth in the region, a point Laurent Favier, Consul General of France, strongly endorsed. It highlighted the vital role CFOs play in driving this success.