What it takes to get a CFO role Friday the 15 th of November, : 00 p.m. to 2:00 p.m. Satisfying job, fulfilling life. Phone:

What it takes to get a CFO role Career trends for CFO hire How has demand shifted domestically? What are the prospects over the next 12 months? What do employers now look for in a CFO? What do you have to do to land a role now?

Career trends for CFO hire 72% of CFOs were promoted internally, while 28% were recruited externally. A high bar exists for external hires Internal hires vs. heir apparent? 70% internal CFOs had at least 11 years tenure prior to appointment 33% had over 20 years prior to becoming CFO External heir apparent hires are rare; among internally promoted CFOs, only 12% had 5 or fewer years of tenure prior to promotion

Career Trends for CFO hire Common roles on route to the top Shifts in the route to top Growing appetite among CEOs for three core career experiences, over last 3 years: Corporate accounting: 53% of appointments hold significant experience, 37% prior Corporate finance: 43% of appointments hold significant experience, 26% prior International: 42% of appointments indicated working overseas prior to CFO appointment, 26% prior

Career trends for CFO hire “Tick all the boxes” candidates are rare: CFOs with corporate accounting, corporate finance and international experience: only 5% of Top 100 CFOs cite experience in all three areas Other findings: Advanced educational credentials are a plus, but not essential: 44% of CFOs hold an MBA, however, less than half from a top 25 business school Women still represent a minority of Top 100 CFO population, but the percentage is growing: Women represent only 11% of Top 100 CFOs However, women represent 19% of CFO appointments within the past 3 years

How has the demand shifted domestically Improving but still tough? Industry experience ASX experience Supply of high calibre talent strong 2013 was better at CFO level than it was in 2011/12 Private Equity & IPO activity increased Emergence of the NFP and NGO sectors

How has the demand shifted in the last year? Continued Those being successful are the ones who are “out and about” making things happen NSW – Condition improving, Health and Education Services VIC – Steady, large Australian businesses and local issues WA – Tough following mining slowdown QLD – Slow with limited CFO roles

What are the prospects over the next 12 months? Improvement in corporate confidence Post Federal Election Estimated 193,000 new jobs in 2014, compared to 130,000 in 2013 NSW will account for 80,000 Hot areas – Risk management skills, commercial finance skills, specific industry experience, ASX experience, outsourcing and offshoring expertise

What do employers now look for in a CFO? Easier than you think to stand out Technical suitability for the role (a given) Culture fit Breadth of skills – people, strategic, technical Commercial strengths – what do the numbers mean? Strong leadership and vision

What do employers now look for in a CFO? Continued Enthusiasm, keenness, passion, energy Often industry experience, not always Qualification or qualified by experience, networking to overcome if not qualified Willing to take on a new challenge

What do you have to do to land a role now? Goal/focus Technical Commercial management Take a risk CV/one pager Networking Brand

What do you have to do to land a role now? Continued Personal development Search/recruitment firms Play to strengths Preparing to strengths Preparing for interviews Energy and keenness

To Keep in Mind The importance of building your network when you are in a job Build your own brand Building your career with lateral steps The technical is a given, it is all about the cultural fit and the commercial/strategic strengths 4 page CV focussing on strengths and achievements. One pager. Build relationship with recruitment/search firms Have a mentor/sounding board

Identifying the Right Role? Career Review & Planning Evaluation of Skills/Competencies Work Values Fit Work/Life Balance Career Plan Immediate and target roles Development Plan Career Review & Planning Evaluation of Skills/Competencies Work Values Fit Work/Life Balance Career Plan Immediate and target roles Development Plan STAGE 1 Self Marketing Plan Corporate Role Resume(s) Referees Visible Market Hidden Market Interview Training Self Marketing Plan Corporate Role Resume(s) Referees Visible Market Hidden Market Interview Training STAGE 2 Own Employment Concept Statement Concept Testing Business Plan Marketing Plan Financials Key Advisers Start up Own Employment Concept Statement Concept Testing Business Plan Marketing Plan Financials Key Advisers Start up Portfolio Portfolio Definition Self Marketing Plan Portfolio Portfolio Definition Self Marketing Plan Execution of Marketing Plan Coaching Support Interview Preparation Research Networking Help Execution of Marketing Plan Coaching Support Interview Preparation Research Networking Help STAGE 3 Landing the Job Job Evaluation Package Negotiation Start Up Assembly of Portfolio Landing the Job Job Evaluation Package Negotiation Start Up Assembly of Portfolio STAGE 4 “Directioneering”

Take a risk Could be moving within a company, changing companies, going overseas, moving sectors, into General Management etc. If it is a well calculated risk then go for it In the majority of cases, those who have taken the risk have got ahead

Are all CFO roles the same? ASX listed Private Company Private Equity/Venture Capital Funded Local subsidiary for a multinational

Networking May seem basic but is key. One area most people do not do well. What is networking? It is starting and maintaining relationships with people that can help you in your career/life that you trust and respect. Your best advocates are people who know you, worked with you. In a world of too much information etc., the personal contact and relationship is key

Networking Why it is important It is the way most senior people move roles. Very hard to do when in a busy job, gets pushed to the back burner. People sometimes feel uncomfortable doing it as it is not a natural thing to do for many. How to build the best network People you trust/respect, similar values. Ask people for advice. They like it. Ask for referrals. Private equity, peers, bosses, previous reports, partners at chartered firms, law firms, banks, etc.

Ensuring you are getting the right personal development Mentors. Have a broad idea of where your own strengths and weaknesses are – make the training specific to these. Need to have a good boss, and a culture where you can take risks and make mistakes. Align with values of the business. Take on new challenges and be able to technically do the role – balance. Secondments. Overseas (be careful re: local network). Projects. Extra study e.g. MBA

What is a good resume? It is all about you – so use your own style. All resumes don’t need to be exactly the same. 3 – 4 key strengths on front sheet. Situation, action, result. Backed up by tangible achievements. Delivered with keenness and enthusiasm. Simple and clear. One pager – For networking/snapshot.

Take away from today Take some time to get perspective Good quality resume The importance of networking Market conditions are improving

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