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AUDIT
FEI Career Management Group
Qualifications for a Successful CFO/Controller in Today's Market
December 3, 2009
© 2009 KPMG LLP, a U.S. limited liability partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International, a Swiss cooperative. All rights reserved. Printed in the U.S.A. KPMG and the KPMG logo are registered trademarks of KPMG International, a Swiss cooperative. 21377NSS 2 2
The Basics
Technical competence
Education
Industry and financial experience
External reporting
SEC reporting
Public accounting background
IT
Treasury
Corporate finance
Acquisitions and divestitures
Tax
Financial planning and analysis
Risk management
Knowledge of the business
Increasingly complex accounting, tax and regulatory environment
© 2009 KPMG LLP, a U.S. limited liability partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International, a Swiss cooperative. All rights reserved. Printed in the U.S.A. KPMG and the KPMG logo are registered trademarks of KPMG International, a Swiss cooperative. 21377NSS 3 3
Today’s Skill Requirements
Managing through turbulent times
Cash is king – cash flow forecasting and ROI
Fortress balance sheet
Restructuring
Credit crunch – debt compliance
Access to capital
Financial statement risk including mark-to-market, goodwill impairment and deferred tax asset valuation allowances
Income taxes
Obama administration public policy, health care reform and tax initiatives
International operations
© 2009 KPMG LLP, a U.S. limited liability partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International, a Swiss cooperative. All rights reserved. Printed in the U.S.A. KPMG and the KPMG logo are registered trademarks of KPMG International, a Swiss cooperative. 21377NSS 4 4
Today’s Skill Requirements
Managing stakeholder relationships
Board of directors and committees
C suite
Wall Street, analysts and rating agencies
Investors
Banks
Customers
Suppliers
Auditors and other service providers
Regulators
Community and civic
© 2009 KPMG LLP, a U.S. limited liability partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International, a Swiss cooperative. All rights reserved. Printed in the U.S.A. KPMG and the KPMG logo are registered trademarks of KPMG International, a Swiss cooperative. 21377NSS 5 5
Today’s Skill Requirements
Managing your assets
Cash and financial assets
Cash conversion cycle
Hard assets
Intangibles and intellectual property
In-source, co-source or outsource – core competencies
Vertical integration
Payables
Contingent liabilities
Litigation
FCPA and illegal acts
© 2009 KPMG LLP, a U.S. limited liability partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International, a Swiss cooperative. All rights reserved. Printed in the U.S.A. KPMG and the KPMG logo are registered trademarks of KPMG International, a Swiss cooperative. 21377NSS 6 6
Today’s Skill Requirements
Managing your people
HR
Managing up / managing down / managing peers
Leadership
Adaptability
Invest, mentor and grow talent
Networking
Skills assessments
1. Know what you don’t know
2. There is always someone smarter and more experienced available to help
© 2009 KPMG LLP, a U.S. limited liability partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International, a Swiss cooperative. All rights reserved. Printed in the U.S.A. KPMG and the KPMG logo are registered trademarks of KPMG International, a Swiss cooperative. 21377NSS 7
Q&A
7
© 2009 KPMG LLP, a U.S. limited liability partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International, a Swiss cooperative. All rights reserved. Printed in the U.S.A. KPMG and the KPMG logo are registered trademarks of KPMG International, a Swiss cooperative. 21377NSS 8
Presenter’s contact details
Dennis ParrottKPMG LLP303 E. Wacker DriveChicago, IL [email protected]
The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.
