The role of the Commonwealth CFO and their team is constantly evolving in an ever-changing environment. For aspiring CFO’s, understanding the core requirements of the contemporary/emerging CFO role is important to ensure the development of the right capabilities to guarantee future success.

With old-fashioned accounting approaches constantly being challenged by decreased corporate budget, increased automation, outsourced financial arrangements and increased demand for more business partnering and advice; a more strategic approach is necessary when running the finance function. The core capabilities of a successful CFO now spans beyond the spectrum of transactions, compliance and financial reporting with a 12-month horizon.The contemporary CFO is a business partner that will provide insights to assist agencies in achieving outcomes through:

• Understanding the business activities and the underling non-financial information that drive the financials of the organisation

• Providing better financial and non-financial analysis of

• Operational activities to enable better decision making,

• Adapting to new technologies that enable finance teams to minimise manual work and maximise time devoted to understanding, analysing and advising business

• Recruiting the right people to provide a “client service” to the rest of the organisation

• Managing the finance team to develop and encourage the right behaviours

• Managing communications and services to the rest of the organisation to ensure finance is seen as an enabling function that is helpful and provides trusted advice

• Wrangling available financial and non-financial data sets, at the right time, asking the right questions to enable the right analysis and presentation of data to enable sound strategic decision making

• Understanding the process, business and political environment to navigate future policy proposals and funding environments

Leadership, people and business skills are crucial skills for any future CFO

But do you have the strategic & soft skills required to be a successful

CFO?

Where do you feel you need to further improve to be successful in

your next role?

Synergy has developed a clear pathway to help you move from your existing role into that of a successful and strategic CFO.

Our sessions are broken down into 4 overarching topics that focus on developing your skills:

MODULE #2Understand your

business environment

Understanding your organisations business drivers

The importance of financial and non-financial data

Aligning reporting, visualisation and analytics to priorities for better decision making

Becoming a business partner

MODULE #1Recognise the challenges of the changing nature of the

current environment

What is the TRUE Role of a CFO in the current environment

How to enhance your leadership skills and mould yourself into an influencer

Developing your strategic thinking

Providing effective client services

MODULE #3Become a champion of financial management

Preparing internal and external budgets

The importance of monthly analysis and reporting

Efficient and effective financial reporting

Explaining accounting concepts to non-accountants effectively

MODULE #4Funding principles, business case

development, and NPP development and process

Understand how Commonwealth Funding works

Develop a strategic financial plan to drive decision making, ensure financial sustainability

Presenting a compelling business case

Understand benefits realisation

Understand the process of presenting a successful NPP

A GOOD ACCOUNTANT• Technically sound

• Good at tried and true number crunching – undertaking traditional financial analysis

• Excellent knowledge of compliance issues

• Understands spreadsheets

• Good at preparing financial reports

• Understands the finance function well

A GREAT CFO• Understands agency business and drivers

• Analyses both financial and non-financial information to provide a better focus for decision makers – harness “big data”

• A good communicator and effective manager of people and relationships

• Good at recruiting and developing people to deliver a better enabling service

• Identify innovation and opportunities for more efficient and effective ways of working

• Become a strategic advisor to the CEO/Secretary and SES

Our modules are designed to run for 2 to 3 hours a week and will require you to undertake an hour of pre-workshop preparation. This will ensure that you get the most out of our sessions.

Visit www.synergygroup.net.au to view the latest dates and times.

COURSE OUTLINE

So, what is Synergy offering to help obtain the relevant strategic skills required? Synergy has designed 4 training sessions, spread over 1 month to help you equip yourselves to become a great strategic CFO.

Good Accountant to Strategic CFO

Engage with Synergy and allow us to help your organisation by improving the processes of the finance function, develop strategies, review/develop new NPPs, prepare management reports & dashboards for effective communication of budget figures to the CEO & SES. We can ensure that you have the right tools to smoothly operate as a successful CFO in the current environment.

WHY SYNERGY?

Synergy has extensive experience in providing strategic advice to our clients to enhance the functioning of the finance division. Some of the work we have undertaken in the last few years that greatly complimented the CFO’s role were:

Improving the organisations NPP’s Within the last couple of years, Synergy has assisted a number of agencies with their NPP’s and internal budgets. This has significantly benefited the organisation.

Assisting the CFO role by providing strategic advice Synergy has been engaged by a number of agencies to formulate a set of short, medium and long term strategic directions to ensure the organisation was able to adapt to significant regulatory changes.

Reviewing the entire finance function and optimising procedures and client service Synergy has undertaken a number of finance function reviews in order to create efficiencies, but to also change the focus of the team to be more client centric in its work and communication. Restructures have included a business partner function.

Assisting with Budgetary requirements and management reporting Synergy has been engaged by various agencies to assist with dashboard reporting and visualisation for more effective internal reporting.

To register or to find our more about the next upcoming course Visit www.synergygroup.net.au

Register

P: +61 (02) 6260 7477E: admin@synergygroup.net.auW: www.synergygroup.net.au

CONTACT

www.synergygroup.net.au

02 6260 7477

Strategic CFO Program