Insight
Tips for aspiring CFOs
3 ways to check your compatibility with the CEO
Are you thinking of stepping up to the role of the CFO? Let’s say you have a solid job offer and are ready to take on the job. You have done your research, and know the ins and outs of the business and your role – what could go wrong?
Perhaps a less often mentioned element of the CFO role is their compatibility with the CEO. The CFO, often referred to as the ‘rational co-pilot’ for the visionary CEO needs to have strong competence in keeping things on track and balancing the business’ needs, strategy and budget with economic circumstances and many other factors.
In such a multifaceted role, it is critical to have a shared understanding of the business with the CEO and work in unison – supporting and complementing each other. It’s the responsibility of both leaders to build a solid foundation of trust and open communication to build the business in alignment with the company’s vision and goals.
How can you complement your research and find out if you will be a good match with the CEO before taking on the role?
Trust your gut
If interviewing is like dating, then joining the executive leadership team is like entering a marriage. You need chemistry, open and honest communication, mutual respect, and confidence in your own and your partner’s ability to face challenges together. Rely on your intuition to assess if you can build a strong partnership and share the weight of your responsibilities with this person.
Ask hard questions
Put agreeableness on hold for a second and investigate potential pitfalls. Think about what you need to know to make sure this is the right role and business for you and that you will be able to do your best. Take time to understand the company culture, vision, history, things that are going well and the challenges. What’s more, asking hard questions of the CEO is a good way to test their approach to difficult conversations.
Notice the signs
The interview process leading up to securing a CFO role is usually long enough to give you time to get a deeper understanding of the business and the people. Some signs of a difficult CEO will be high turnover rates in the leadership teams, practices and systems not keeping up with the times, and an uninspiring culture. If you pick up on any of these ‘red flags’ do not ignore them.
With these three strategies in mind, you can make a more informed decision and be confident that the role you’re taking on is truly the right opportunity.
