Patrick Ibarra The Mejorando Group Role of the Finance Director in Today’s New Reality 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 Finance Director Role Finance Director Role Economy Service Delivery Staff Turnover Finance Profession Legislation & Legal Media Elected Officials Change Factors… Technology

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

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

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

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

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

9 Who are we? A Consulting Practice Who are we? A Consulting Practice What do we do? Partner with organizations and implement solutions to improve organizational performance. What do we do? Partner with organizations and implement solutions to improve organizational performance. How do we do that? We provide expertise in: 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, or How do you contact us? Patrick Ibarra, or Web address: Web address: Our mission is to help organizations and their members “get better all the time” The Mejorando Group