Unsung heroes: Grant Thornton and Directorbank recognise outstanding FDs

Wednesday, November 24, 2010 | Posted by: Fiona Cullinan
Categories: Research, Thought Leadership | Tags: Grant Thornton, report, survey, data, CEO, FD, interview, CFO, Directorbank, finance director, video, analysis, Swag Mukerji, John Pearce, Roger Matthews, chair, repor

Finance directors aren’t normally the face of the company, or even seen as big names of the business world, yet it’s often the case that they are the beating heart of a successful company. Our recent What makes an outstanding FD? report, researched in conjunction with Directorbank, highlights that it’s time their worth is recognised. We also interview three directors – including Directorbank’s MD John Pearce (below) who talks about the growing importance of the finance director’s role .

 

Private equity specialists Directorbank Group and business and financial advisers Grant Thornton recently released the findings of their report What makes an outstanding FD?, in which they interviewed 25 of the country’s top FDs. The resulting interviews certainly made for essential reading – in particular for young, aspiring FDs.

Grant Thornton, who supported Directorbank on this research project, believe the role of the FD has never been more important given the turbulent economic climate. Says Scott Barnes, Chief Executive of Grant Thornton: “I am delighted that [we’re] working with the Directorbank Group on this research into what makes an outstanding FD; the timing could not be more appropriate.”

Today’s stellar FD, it seems, is much more than a numbers person; someone who sits in a closed office buried in figures and focusing on compliance. They need to be both commercially aware yet able to embrace and safeguard against risk. They also need to be able to work with imperfect information, explore opportunity without fear and work symbiotically with their CEO.

As you will see from the accompanying videos from the event (see below), today’s FD is also much more hands-on than ever before. They must be able to inspire staff and defuse difficult situations yet they also need to shine a light on corners of the business that people don’t want exposed, make brave and often unpopular decisions, embrace challenge and act quickly – just some of the reasons why the FD of a successful company is such an unsung hero.

Swag Mukerji, CFO, SafetyKleen – on why communication is a core skill for the modern FD and being both the CEO’s confidant and the eyes and ears of the board:

Roger Matthews, Chair, MITIE Group Plc and LSL Property Services Plc – on the fundamental relationship between FD and chief executive and the career paths of a good finance director:

Download the report
The findings of this research and interviews can be found in the Directorbank / Grant Thornton What makes an outstanding finance director? report, which is also available to download as a PDF.

You might also find these posts useful:

* Is your FD a chief exec or chair in waiting?
* How to get noticed as an outstanding FD (and get the top jobs)
* What makes an outstanding FD?