CFO THOUGHT LEADER

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Controllers Classified: CAO Erik Zhou of Brex Speaks to CAO Angelina Hendraka of Redis. Feb 02, 2024

Show notes

On this episode of Controllers Classified, Brex’s CAO Erik Zhou is joined by Angelina Hendraka, the CAO at Redis. The conversation begins with a recap of Angelina’s diverse experiences across financial services, biotech, and SaaS companies. Angelina notes that while KPIs shift based on business strategy & industry, the transition from one industry to another in her career has felt seamless given finance is the universal language of business. Erik and Angelina also discuss the transition from big 4 accounting firms to controllership, and the evolution of one’s approach with that transition (i.e. from being deep in technical accounting to thinking more broadly and operationally). The conversation then turns to recapping a recent panel discussion that Angelina participated in related to women in the workplace and fostering inclusive work environments. She shares her perspective on what it means to be an inclusive leader, and what more leaders can be doing to ensure diverse representation in finance and accounting. The dialogue pivots to some critical financial topics including how to make strategic and thoughtful spend decisions in the current cost containment environment, the role of a strategic procurement function in enabling smarter spend, and important financial processes for post-IPO success, including SOX readiness.

970: Growing in Good Company | Dennis Johnson, CFO, Qlik Jan 31, 2024

Show notes

It’s an all-too-familiar tale among the ranks of senior finance executives: A private equity firm acquires a company, reshuffles the finance team, and reserves the top finance spot for one of its own portfolio CFOs.

At Qlik, though, this story had a less familiar ending—or at least one that did not include a portfolio CFO. Instead, back in 2016, when Thoma Bravo acquired King of Prussia, Pennsylvania’s Qlik, a seasoned veteran of the latter’s own finance team—Dennis Johnson—entered the CFO office.

For Johnson, there’s little question that his appointment validated the 8 career years that he had already invested with the company, a period during which he had sought to routinely contribute to the company’s growth and ongoing strategic transformation. It turns out that his senior finance roles—and in particular his involvement in the transition to a subscription-based model—had demonstrated his strategic vision and capacity for managing change effectively and thus opened a new door.

969: The Human Equation in Finance | Elizabeth Mann, CFO, Verisk Jan 28, 2024

Show notes

Elizabeth Mann began her career as a mathematician in academia, spending a decade in the field. Her initial plan had been to become a professor, on a path that would start with a Ph.D. and a postdoc.

However, something was missing. Eager to engage more directly with the world at large, she pivoted her career toward finance.

Mann found a door of entry at Goldman Sachs, where after initially filling a quantitative role involving complex financing structures she subsequently transitioned to investment banking and a new focus on M&A and corporate finance in the tech and media sectors.

After more than decade with Goldman Sachs, she moved to S&P Global. Here, after first handling such corporate finance areas as treasury, tax, and capital allocation, she eventually stepped into a divisional CFO role. This was her first experience on a leadership team, which offered her a broader view of running a business and deepened her operational expertise.

Mann’s journey led her to become CFO of Verisk, a provider of data, analytics, and technology to the insurance industry. Here, she focuses on leveraging the company’s foundation in data and analytics to enhance its offerings in the insurance sector, particularly in the face of challenges like climate change and technological advances. Her role now includes overseeing an extensive finance transformation, involving the upgrade of the company’s ERP system.

Looking back, Mann doesn’t second-guess her investment of early career years inside academia—if anything, she seems to value them all the more.

Says Mann: “Those years were not wasted. I learned a lot about rigor and about how to think about things in a clear way and independent way, have the agency to come up with your own views and perspective, and really pursue an idea to its logical conclusion.” –Jack Sweeney

Projecting The Voice of Reason - A Planning Aces Episode Jan 26, 2024

Show notes

This episode of Planning Aces sheds light on the critical role financial leadership and strategic planning plays in guiding companies through turbulent times and the importance of balancing short-term opportunities with long-term strategic planning. Each of the featured finance chiefs faced unique challenges related to the pandemic’s impact on their businesses, and their responses offer valuable insights into effective financial leadership during times of crisis and change.

In each case, the CFOs demonstrated strategic foresight and adaptability in their planning, ensuring their companies could navigate through and beyond the pandemic’s challenges.

Resident thought leader Brett Knowles provide insights throughout the discussion, emphasizing the role of CFOs as the “voice of reason” in navigating short-term gains and long-term strategies. He highlighted the need for agility and adaptability in financial planning, acknowledging the complexity and unpredictability of market conditions.

968: From the Investor’s Point of View | David Snyder, CFO, Coya Therapeutics Jan 24, 2024

Show notes

It was the type of introduction that any MBA student would envy, and one at which David Snyder, 35 years later, still marvels.

Back in the late 1980s, a business school classmate introduced him to notable investor and billionaire tycoon Sam Zell, who subsequently offered Snyder a job.

Without hesitation, Snyder accepted Zell’s offer and in short order began working for him in Chicago, where he joined a group of recent young graduates whom Zell had recruited to help inside the realm of corporate acquisitions.

More than any one deal or acquisition target, Snyder recalls, the greatest lessons from his days with Zell came from the sideline conversations.

“Just by my proximity to Sam, I learned a lot—he had sort of a Socratic approach, whereby we would have a dialogue with him in which he would begin sharing the investor’s point of view and how an investor thinks about the operating prospects of a given investment,” remembers Snyder, who adds that from those days onward he has always “come to the table” thinking like an investor.

He reports: “I’ve carried this with me through all of the ensuing 30 years.”

Snyder’s exposure to Sam Zell and his work in corporate acquisitions honed his strategic thinking skills. He emphasized the importance of understanding the investor’s point of view and translating business strategy into financial terms. –Jack Sweeney

967: Leading with a Customer Mind-Set | Karen Walker, CFO, Sysdig Jan 21, 2024

Show notes

Like many of her CFO peers, Karen Walker had an early career that was guided by abundant opportunities surrounding finance-driven decision-making within organizations.

It was a path that often led Walker to engage more closely with sales and operations, as was the case at CNET Networks, where she tells us that she recognized the limitations of embracing a strictly “rules-based” approach in finance.

It was at CNET that she embraced a more transformative perspective—prioritizing the customer’s objectives and challenges. This shift in thinking, emphasizing a customer mind-set, would continue as she advanced in her career.

At PagerDuty, the philosophy became instrumental in addressing the company’s rapid growth challenges. Now, as CFO at Sysdig, Walker tell us that it’s this commitment to understanding customer needs that guides the company’s approach to cloud security. Her journey reflects a progressive integration of customer-centricity into financial leadership, showcasing its adaptability and efficacy in diverse business environments.

Says Walker: “I think that one of the things that I have really learned over the years—and espouse as a philosophy—is that every employee—which includes, of course, finance—should really have a customer mind-set and really put the customer at the center of every decision that is made.”

Introducing Controllers Classified w/ Erik Zhou, CAO, Brex | Guest: Franklin Templeton CAO Lindsey Oshita Jan 19, 2024

Show notes

This Episode is CFOTL Special Supplement.

Franklin Templeton Chief Accounting Officer Lindsey Oshita expains how challenges faced during an ERP integration following a merger and the massive IT commitment it entailed. She highlights the significance of a chart of accounts and their potential adaptations, along with her team’s successful implementation of Workday at the start of the fiscal year.

Lindsey Oshita is the Chief Accounting Officer, Americas at Franklin Templeton. She’s spent 14 years at Franklin Templeton in various financial leadership positions, and was at Deloitte prior to that. Lindsey graduated from UCLA with a Bachelor’s Degree in Economics and a minor in Accounting.

966: The Billionaire's Apprentice | Michael Perica, CFO, Rimini Street Jan 17, 2024

Show notes

CFO Michael Perica’s career journey began with an opportunity to work as a junior analyst for a national capital markets firm, where he would find a billionaire mentor. According to Perica, his association with the billionaire would ultimately offer him access to influential networks and unique opportunities. From his early days onward, Perica tells us, he became skilled at building connections with successful individuals—an expertise that would open the door to a diverse range of opportunities.

Perica’s entry into the CFO role during the COVID-19 pandemic—which occurred remotely, meaning that he didn’t meet his colleagues in person until several months later—perhaps highlighting his adaptability. Successfully leading a team without in-person interactions speaks to his ability to navigate challenges and maintain effective leadership—as so many of our finance leader guests have pointed out. –Jack Sweeney

965: Removing Complexity for Strategic Success | Emma Brown, CFO, Medius Jan 14, 2024

Show notes

For Emma Brown, it was as though she had just removed the sword from the fabled stone, a moment that would challenge the inclination to persistently question her own judgment when it came to business.

As is often the case, Brown’s moment of insight occurred in a high-pressure situation. Faced with poor financial visibility and the need to prevent a liquidity crisis, she championed the notion that her company’s finance team take a radical approach. Stripping everything back to basics, she delved into the fundamental aspects of cash flow, bank statements, and working capital.

This back-to-basics exercise revealed that the complexity of the business—large ERP systems, convoluted reporting, and complicated forecasting structures—was hindering understanding as well as impeding effective decision-making.

Brown’s strategic approach of simplifying complexity significantly boosted her confidence in navigating challenging situations within her career. The realization that complexity might indicate inherent issues within processes, systems, or structures shifted her perspective, empowering her to tackle problems with a newfound confidence. –Jack Sweeney

964: Leveraging AI to Achieve Durable Growth | Luigi Testa, CFO, LinkSquares Jan 10, 2024

Show notes

Four years ago, when Luigi Testa first joined LinkSquares as CFO, the Boston-area tech firm employed roughly 40 people. Today, with nearly 400 employees, the company is concerned less with growth and more about achieving a balance between growth and efficiency. To achieve this, LinkSquares management has made automation and AI adoption a priority.

According to Testa, the goal was to first identify repetitive and manual tasks that could be automated to reduce the need for hiring additional personnel. This is an approach that makes financial processes more sustainable in the long run, he points out, while also helping to control expenses.

Testa also notes that within the finance function, various routine tasks like billing, payment collection, and payroll processing were ripe for automation and AI implementation. Yet, while these new approaches could handle approximately 75% of these tasks, he emphasized the ongoing importance of human oversight to ensure accuracy and relevance.

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