Search
 
Best Practices

CFOs as Leaders of Organizational Innovation

5 ways finance executives can leverage our unique expertise, and our cautious nature, to advance corporate strategy.

By Susan Cosgrove | July 25, 2019 at 10:53 AM

The role of the CFO has evolved dramatically in recent years as the business landscape has become more dynamic, competitive, and complex. It’s no longer enough for a CFO to focus on the traditional responsibilities of protecting the financial security of the firm and identifying ways to foster growth. Today, CFOs are expected to play a broader and more strategic role by helping to define and shape the future vision of their companies, particularly as new technologies create opportunities to transform market sectors in the blink of an eye. Central to this is the need for CFOs to serve as champions of organizational innovation.

This emphasis on technology innovation tends to be unchartered territory for many CFOs. The topic is, by nature, somewhat nebulous and hard to measure—which means it can feel contradictory to our responsibilities as financial stewards of the business. However, CFOs are naturally equipped to find an appropriate balance between promoting innovation and making ‘safe’ financial decisions by ensuring that investments are connected to outcomes and that the outcomes are focused on growth and an improved client experience.

I’ve had the opportunity to put these skills to the test as CFO at The Depository Trust & Clearing Corporation (DTCC). Over the past few years, we have been experimenting with the latest fintech innovations, such as blockchain technology, applied machine learning, and robotic process automation (RPA). These technologies have the potential to transform how DTCC supports global markets and mitigates risk for the financial services industry.

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.

Already have an account?

Dig Deeper

 

Recommended Stories

Treasury & Risk

Join Treasury & Risk

Don’t miss crucial treasury and finance news along with in-depth analysis and insights you need to make informed treasury decisions. Join Treasury & Risk now!

  • Free unlimited access to Treasury & Risk including case studies with corporate innovators, informative newsletters, educational webcasts, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM publications including PropertyCasualty360.com and Law.com.

Already have an account? Sign In Now
Join Treasury & Risk

Copyright © 2023 ALM Global, LLC. All Rights Reserved.