LFCE Fall Event Helps Organizations Maximize the Contributions of Their Finance Professionals
Left to right: Craig Omtvedt, Glenn Hansen,
Barbara Klein, and Bernard Layton
New York and Chicago Finance Experts Offer Their Seasoned Advice
On October 12th, LFCE and the Illinois CPA Society’s Center for Corporate Financial Leadership (CCFL) presented "Maximize the Contributions of Your Finance Professionals: Compliance. Collaboration. Catalyst" to an invitation-only crowd of 150.
The event featured senior-level finance executives from Deloitte Consulting, Fortune Brands, CDW, Strategic Integration, and Peoplenext:
- Steven Ehrenhalt, Principal, Deloitte Consulting, LLP
- Craig P. Omtvedt, Senior Vice President & CFO, Fortune Brands, Inc.
- Barbara A. Klein, Senior Vice President & CFO, CDW
- Glenn C. Hansen, President of Strategic Integration Inc., and Former Senior Vice President, Federal Reserve Bank of Chicago
- Bernard Layton, Managing Partner, Peoplenext, Inc.
The event was moderated by Len Walter, Business/Financial Editor for WBBM NewsRadio 780AM.
According to Deloitte's Ehrenhalt, there are four faces to a finance professional: a responsible steward, a catalyst to stimulate behaviors in their organization, a strategist who provides leadership, and an operator who balances capabilities, costs and service levels. Within these four faces are both the keys to understanding finance's challenges and opportunities for personal transformation.
Fortune Brands' Omtvedt discussed the individual attributes necessary for moving from individual contributor to leader: business person first/financial person second, common-sense problem-solver, creative, good communicator, and comfortable with constructive conflict.
CDW's Klein discussed the finance organization's critical role as communicator and translator. By partnering with the business, communicating clearly with straightforward examples, and minimizing overly-technical explanations, finance professionals can provide information beyond the numbers to connect results with real business opportunities.
Former Federal Reserve Bank of Chicago Senior Vice President Hansen discussed how to ask internal clients the tough financial questions without alienating them. Included in his recommendations were understanding how an organization actually creates value for both present and future shareholders, then making sure that any new proposed initiatives truly add value.
Peoplenext's Layton, an executive recruiter, discussed what the market is demanding of finance professionals today, including subject matter expertise, strong leadership skills, comfort with ambiguity, and deep experience in business.
"This event was an opportunity for participants to hear about the common pressures, career opportunities, and additional skills needed by finance professionals,” said Kathy Leck, LFCE Executive Vice President. “Today, finance professionals need to be excellent at compliance and become expert collaborators and catalysts for their companies’ growth.”
The co-sponsored event was the result of an extensive research collaboration between LFCE and CCFL.
“We’ve undertaken an important study designed to help financial professionals understand the skill set and leadership qualities needed to advance throughout their careers,” said Elaine Weiss, President and CEO of the Illinois CPA Society. “By establishing a solid set of best practices, finance professionals will be able to better establish their strategic role in their organizations.”
