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Role of the Finance Director in Today’s New Reality

Role of the Finance Director in Today’s New Reality. Patrick Ibarra The Mejorando Group. CSMFO 2010 Annual Conference. “We can’t solve problems by using the same kind of thinking we used when we created them – Albert Einstein. Change Factors…. Elected Officials. Media. Economy.

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Role of the Finance Director in Today’s New Reality

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  1. Role of the Finance Director in Today’s New Reality Patrick IbarraThe Mejorando Group CSMFO 2010 Annual Conference

  2. “We can’t solve problems by using the same kind of thinking we used when we created them – Albert Einstein

  3. Change Factors… Elected Officials Media Economy Finance Director Role Technology Legislation & Legal Service Delivery Finance Profession Staff Turnover

  4. Changing Role… • Transactional to Consultative • Compliance centric to results oriented • Functional to Partnership • Staffing to Talent Manager • Updates to Forecast

  5. Change in Focus/Challenges • Shifting terrain= fluidity • Transactions much more complex • Public expectations for outcomes, not inputs • Decentralized decision making • Information requirements

  6. Challenges Continue… • Resource limitations • Exploding technology • Uncertain economy • Expectations – citizen, elected officials, etc. • E-commerce and M-commerce • Workforce Demographics • Regulations

  7. Role of the CFO: Leader & Steward Source: Deloitte & Touche, LLP

  8. Keys to New Role • Establish clear governance/accountability • Attract and retain top performers • Fortify relationships • Integrate processes and services with operational improvements • Develop a Performance Dashboard. • More reports don’t always equate to better communication • Develop technology master plan

  9. The Mejorando Group • Who are we?A Consulting Practice • What do we do?Partner with organizations and implement solutions to improve organizational performance. • How do we do that?We provide expertise in: • Organizational Effectiveness Strategies • Change Management • Succession/Workforce Planning • Team Building • Leadership and Management Skills Training • How do you contact us?Patrick Ibarra, 925-518-0187 or patrick@gettingbetterallthetime.com • Web address: www.gettingbetterallthetime.com Our mission is to help organizations and their members “get better all the time”

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