CFO

Apr

2019

Learning from the Leadership of a CFO

I was waiting for a meeting with a small business owner and was early. After waiting for a minute I introduced myself to a gentleman getting his day started as he sipped his coffee on this early Friday morning.

We started chatting about what each other does and eventually the conversation shifted to one of my favorite topics: leadership.

Mr. Riddle is the CFO of Gordon Marketing. During our conversation I asked him what leadership looks like from his perspective since his role is very analytical and numbers driven. He provided an excellent definition of his position.

As a CFO he is the historian who documents what has happened within the organization. I found that definition interesting and we explored how that “historian position” interacts with some of his guiding principles as a leader. Mr. Riddle has a few principles that guide how he leads from his position:

Set a good example.

Regardless of the role one plays in an organization or on a team, you must be an example worth following. This principle has nothing to do with the role he is in, but everything to do with the life he lives. He must as if he is an example worth following? More importantly, are we?

Team player.

In his position he feels a responsibility to help others see that as they win whether that is improving their sales, creating an effective marketing strategy or any other win, the whole organization will win. When people come to him with questions on finances he has to help individuals see the bigger picture and ask how this expense/investment can help both that department and the entire organization win.

Bring clarity.

As CFO, Mr. Riddle uses data to help clarify what is important. The numbers will inform what is working and what is not. He filters through the numbers to help team members understand the important metrics that will inform the organization as they strive to accomplish the mission. From his seat he has a responsibility to ask some of the difficult questions such as what is important? Is this strategy good or bad? Combine this data with these questions and he helps provide clarity for the organization.

CFO As a Pacecar?

As we talked, an image came to mind. The CFO is like the pace car for an organization. A pace car slows down the race to prevent further injury when the track is not as safe because of accidents. A pace car also gets out of the way when the track is clear. As a leader he helps set the pace by answering the question: based on what happened is that where we want to go? As he thinks on this question it helps him guide the organization on how to respond to challenges and opportunities.

As a leader are you setting the pace where you can? Is your example worth following and modeling a team vision? How do you need to bring greater clarity to your organization? Need help thinking into these questions? Contact me for a free 30 minute coaching session. In the meantime, lead well.

Jan

2019

Learning from a Leader in the Banking Industry

Jeff and I were sitting in the green room behind the stage at the Forum Credit Union conference center discussing leadership. I had met Jeff only a few months previously and he is a genuine and caring man who desires to lead others in the best way possible.

Mr. Welch has the responsibility of overseeing finances as the CFO of Indianapolis based Forum Credit Union. Through my interactions with Jeff and others in this organization I have gathered this is an organization with an outstanding culture.

When we started our conversation, I asked him to explain leadership from his role in the organization. He believes he must bring clarity to where the organization was, where they are now and where they are headed as it relates to the financial details. Addressing these areas makes the numbers relevant to others in the organization. While answering those questions, he correlates the numbers to the organizational goals and how people are making a difference in their role. One additional question he asks himself as a leader who desires to be transparent and authentic is: how much is enough information?

LEADERSHIP PRINCIPLES

Mr. Welch values people and that is evident in how he communicated with me, but also in his guiding leadership principles.

Communication

Many leaders have this as a foundational principle. Specifically Mr. Welch believes communication must be consistent and timely. If we are leaders who develop other leaders and not developing followers then we need to provide information in a manner that enables those we lead to make informed timely decisions. Consistent, timely communication enables that.

Relationships

In order to maintain strong relationships with those he leads Jeff seeks to build unity and trust. When a mistake is made he accepts responsibility for his part in it and makes it known by saying “we messed up.” This humble response builds unity and trust among his team. Jeff also takes time to think about each individual and how to be present with them in the way they need. He modifies his communication approach instead of expecting them to adjust to him.

DELEGATION

Mr. Welch’s third principle was the idea of delegation. He admits his struggle with being a perfectionist so this has been an area of great growth for him. Because of this reality I dove a little deeper on this idea and he provided some more detailed insights on effective delegation.

Provide a clear goal. As the leader he knows he must make the goal and expectations of the task/project clear. At the same time, he is willing to adjust his expectations for himself and others.
Create a win/win. Jeff has the humility to allow and encourage those he leads to push him to delegate. This atmosphere also encourages creating win/win situations where he distributes responsibilities to free his time while providing others with opportunities to stretch and grow their leadership.
Team thinking. When delegating a responsibility Jeff tries to create a team. A couple key questions for him are: what is the problem? Who needs to be involved? In answering these questions as accurately as possible he can build an effectively empowered team that will accomplish the goal.

This is a man who is authentic, humble and continually seeks to grow through his involvement in organizations outside of Forum. How about you? When it comes to relationships, communication, and delegation what is one way you can grow to become a more focused, effective, and purposeful leader? Need help thinking into this? If so, contact me. In the meantime, lead well.