Most CEOs feel like they have a decent finance person in place, but more often than not it is someone who keeps things ticking along rather than someone who genuinely moves the business forward. They handle the technical parts with auditors, keep the finance team happy and generally keep themselves to themselves.
But a truly strong CFO looks quite different. Regardless of personality or style; they tend to show behaviours that signal they are genuinely leading the business, not just reporting on it.
Trait 1: They provide focus
Strong CFOs do not drown the Board in reports. They highlight the two or three things people need to know that week and explain why they matter.
Trait 2: They read the story behind the numbers
They move beyond simply saying, “revenue is up, costs are up.” They connect what is happening in the business to the numbers and make it understandable for everyone, not just for their finance peers.
Trait 3: They know how the business truly works
This one is so often overlooked. Great CFOs are business people and understand the whole flow from pipeline to delivery to profit and cash. They can spot when something upstream is going wrong before it appears in the accounts. And they can identify different growth opportunities and ways to improve internal processes based on that business knowledge.
Trait 4: They stay steady when things get tough
They see issues early, bring them to the Board calmly with options and deal with them before they escalate. And if something unexpected hits, they don’t panic. Whether cash is tight, a deal slips, or a big cost surprise comes in, they break the problem down and work out how to best resolve the situation. They make sure decisions are based on reality, not fear, and keep everyone focused on what can actually be done.
Trait 5: They raise the standard across the business
Around great CFOs, people become more organised. Meetings become clearer.
Decisions get quicker. Confidence in how the business is being run grows.
If a business has someone like that, they are worth holding onto. If it does not, that is often where tension and uncertainty begin.
