FEI

CPA CFO vs. Non-CPA CFO

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The controversy is back. 

Should Chief Financial Officers be required to hold a CPA designation, or not?

It began with a guest post on the FEI blog, with a couple of nightmares, I mean examples, of companies with non-CPA CFOs at the helm, and continued on through the comment section. This has also been a hot topic in Proformative, too. 

Non-CPA CFOs say it doesn’t matter, shouldn’t matter because they can still do the job, and companies just don’t understand that fact. Companies “glorify” that piece of paper. What they fail to understand is that it’s not about them. It is about what corporate leadership has decided is right for the company. 

The other argument is that CPAs are bean counters and not strategic leaders. I couldn’t disagree more. Many more of my clients began in accounting, secured their CPA, and have gone on to holding a seat at the executive table as strategic leaders. 

Statistics from Spencer Stuart support what I see. The number of CPA CFOs has risen from 29% to 45% since 2003. Simultaneously, bean counting is out; driving strategic vision is in high demand. The two are not mutually exclusive.

Rather, I think it speaks more to the wiring of the individual. Some CPAs are numbers nerds. It’s what they love and where they feel comfortable. Their lifelong goal may be accounting. It works for them.

On the other hand, some numbers savvy folks are also quite high on the “D” (dominant) and “I” (influence) DISC scale. They have both leadership and people skills. Those CPA CFOs are both left brain and right brain thinkers and will always be high value targets. 

Since you can’t change what a company has decided they need, it’s important as a candidate to identify your target audience. Who needs what you bring to the table? It’s a much easier sale then beating your head against a wall trying to convince someone else that they need / want / should buy something different.

One final thought … the second example in the FEI blog post points to the reason why companies, as a rule, prefer to hire sitting CFOs over candidates who have never held that title.

What Are You Contributing to the Conversation?

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Nothing? Noise? Value? 

There’s a global conversation happening and you can either choose to be a part of it or refuse to engage. If the choice is to not participate, you do so at your own peril … because the conversation will go on without you.

If you do engage, what are you contributing? Is it something of value that benefits your target audience? Or, is it self-indulgent noise that detracts from your executive brand? What you say, how you say, and how often you participate … does matter.

Blank slate … In the evolving Web 2.0 world, this finance executive might show up but he contributes nothing to the conversation. Either he is too busy, is networking-challenged, or perhaps sees no value in engaging. If he shows up, his Linked In profile is bereft of any details that would position him as a high-value candidate. At best, this executive is a place holder. At worst, he may be spiraling towards extinction.

Branding nightmare … It’s all about me. It’s the other guy’s fault. That company discriminates. That recruiter isn’t listening. Noise … and it sends the wrong message. Since authenticity is key in creating a branded, visible presence … you ARE sending a message with every post whether you realize it or not.

Differentiation … What are you reading? What conferences or seminars are you attending? Are you presenting or serving on a panel discussion? What resources have you found? Are you in a leadership position with an organization such as FEI? What are you curious about from a professional perspective? Social media is about sharing, not selling. Finance executives who embrace this mentality create visible distinction for themselves as subject matter experts and high-value targets.

Do you show up and if so, what are you contributing to the conversation?

Welcome CFOs!

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Corporate Finance Executives

You have achieved a high level of career success in a world where integrity, confidentiality, clear value, and great service are expected, even demanded. You have succeeded because you understand the rules of the game and you are the best at what you do.

In the competitive world of top-talent and in-demand positioning, however, it’s a different game … the average tenure of a CFO is 3 years and the rules can seem vague and confusing.

  • Do you recognize that your market value is at its greatest when you are still employed?
  • Does your resume adhere to the Blackberry principle?
  • Is your value proposition branded, clear, and compelling?
  • Do you know your Google Quotient?

You’ve worked hard to get to where you are in your job. Does it make sense to leave your next career move to chance?

At your level of achievement, you need more than generic answers and a quick-fix. You need a partner who takes your success as seriously as you do and will treat you and your objectives with the integrity, confidentiality, and great service that is a part of your daily world. You need a partner who understands how this game is played and can work with you to:

  • Define and leverage your unique brand as a key differentiator in the market
  • Align your career with your values, strengths, interests, and career goals
  • Gain visibility in the marketplace to win your next big opportunity
  • Move powerfully toward your next step up the ladder
  • Build an effective plan and strategy for long-term career management

Gain a competitive edge with a strategic partner you can trust … and become a champion of your career success!

As America’s leading Career and Personal Brand Strategist for the Corporate Finance Executives, Cindy Kraft understands your world. She brings more than 14 years of experience effectively positioning clients to understand their marketability, articulate their value, and position themselves as the clear and compelling choice.

Cindy has drawn on this insider knowledge to design a comprehensive portfolio of branding and career management services that empower high-achieving corporate finance executives, like you, to position themselves to win the opportunities they want.

Find out how with a customized, high-impact branding or career management package for CFOs

What’s New

Networking & Niche Marketing Expert for the Career Thought Leaders Consortium, a think-tank organization focused on best practices, benchmarks and trends for the careers industry

Cindy will be speaking at the Career Thought Leaders Conference in Baltimore, Maryland, March 22-24, 2009 on …
Niching & Networking Your Way to Success, and
Online Identity Management: Business-Building Tools and Strategies

Where You Can Find Me

Facebook Business Page for more insider’s career information specifically for senior finance executives

Linked In … connect with me

Twitter … follow me

Preferred Provider for FEI and Netshare

Recently quoted in …

CFO.com … Apply Yourself! In the market for a new job? Make sure your resume isn’t old school
 
eFinancial Careers … Finessing Your Age on a Resume

eFinancial Careers … Respect the Culture


Newsletter Articles …

Financial Executives International (FEI)
Financial Executives Networking Group (FENG)
The Glass Hammer

Request a copy of my latest article, “Four Things Job Seekers Can Learn from Recruiters“

Raise EBITDA … Raise Salary

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There is a must-read article on CFO.com regarding a recent survey done by FEI on finance executive salary.

It is important for CFOs and future CFOs to recognize how their performance will be measured as it relates to salary; and then, have a clear and compelling marketable value proposition (MVP) around those contributions. 

Would you rather be in the group of finance executives whose salaries remain flat … or, the group who wins both a raise and a bonus?

If it is the latter, what do you need to be doing TODAY to ensure you are well-positioned for that outcome?

CFOs Primer for Building Online Visibility

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These great comments came from one of my FEI readers. And he’s right, he probably isn’t the only one asking these kinds of questions. Here’s his post:

I would appreciate your thoughts about all the different “connecting” or some type of affiliation based programs out there.  I have recently received invites for Linked-In, Plaxo, Facebook and Konnect.   They are all “not quite the same” and of course, do not allow data sharing with each other.  And of course, we must “twitter”. I think I just hit the “information overload” stage.  I need to simplify and I don’t think I am alone in this quandary.

He’s got it right … he needs to be visible and the sites he mentioned are all tools to create visibility. If time is of the essence, here are my top picks for building visibility.

Linked In is a must. It is the largest online business networking site, and at least for today, the best place to create your portable portfolio. Be sure to open the account under your name and email address, not your company’s, so you own the account. If you’re new to Linked In, you can request a copy of my article “5 Easy Ways to Beef Up Your Linked In Profile” by sending me an email (cindy@cfo-coach.com).

Two other recommended sites include Ziggs and Zoom Info. Because Linked In only allows folks in your network to see your contact information, Ziggs and Zoom Info provide that information AND add to the credibility of your footprint.

I like Facebook and encourage my CFOs to join. Part of the allure of this site is that it allows you to deepen your brand by painting a complete picture of who you are as a person. What you care about (values) and your interests are easy to discern by decision makers hiring for culture fit. 

Leverage the power of the Google search engine by creating and managing your Google profile. I recently read that your Google profile will soon show up first in every Google search, so … need I say more?

There are a few sites out now that allow you to consolidate your online profiles, make changes once, and update all of them simultaneously. A few of those sites are reviewed by KillerStartups. 

Next post … Twitter for CFOs

Finance Executives’ Salaries

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CFO.com featured some results from a salary survey conducted by Financial Executives International (FEI). Interesting read … but in case you missed it, here are some excerpts that you might find interesting.

“ ‘While the current economic conditions and market turmoil are likely to impact the C-Suite this year, our results show that the salaries of the overall financial professional group are still up,’ FEI/FERF CEO and President Michael P. Cangemi said in announcing the survey results.”

And this very telling statement …

“The most common performance measures used to determine annual compensation continued to be company and individual goals and objectives, FEI noted. These were followed by department, group or business unit goals or objectives; revenue growth; net income; and earnings-per-share growth.”

… which validates the importance of having a clear and compelling marketable value proposition!