Today, finance professionals are increasingly expected to use financial insights to inform decision making, drive change and help businesses grow. This shift has given senior finance leaders like CFOs greater diversity, influence and responsibility.
If you are currently recruiting for a CFO or looking to step up into the role, it’s important to understand how finance leadership is evolving. This article explores why this shift is happening, what to look for in a strategic CFO, and how to perform this role effectively.
What is a Strategic CFO?
Unlike traditional CFO roles, the Strategic CFO is more forward-looking and advisory in nature. In a recent report, Deloitte described the Strategic CFO as advancing an organisation and improving its competitive position by identifying what’s holding it back and using finance to move it forward.
To achieve this, CFOs must:
- Stay across all business strategy areas internally and market dynamics externally
- Be well-versed in organisational strategy and financial KPIs
- Take a leading role in financing operations
- Be actively involved in Board discussions, including dashboard analytics
- Bring a highly contextualised view of finance to inform decision making and risk
While this shift has created more impactful leadership opportunities, first-time CFO candidates must be able to align their experience with the growing expectations of the role.
Even without prior CFO experience, many senior finance professionals have already demonstrated strategic thinking with their clients and internal stakeholders. Capturing these experiences in their CV and value proposition is essential to positioning themselves as ready for the CFO role.
What Sets a Strategic CFO Apart?
Extracting Data-Driven Insights
Modern financial professionals have endless information at their fingertips – what sets the Strategic CFO apart is knowing how to extract insights and use them to position the organisation for growth.
Everyone has access to the same numbers; the real skill lies in interpreting what they mean and using that to add value. A Strategic CFO can combine financial data with contextual understanding of the business and market, then communicate relevant insights to the Board, shareholders, and Executive team.
Understanding the Macro Operating Environment
In addition to strategic visibility across the business, a Strategic CFO understands the broader external environment. They can identify threats and opportunities in the market and articulate how these align with the organisation’s internal strengths and weaknesses.
Anticipating the impact of external factors on the overall P&L – and knowing where to dig deeper when something doesn’t feel right – is a hallmark of strategic financial leadership.
Serving as a Trusted Advisor
Many CEOs describe the CFO as their number two – and for good reason. A CFO who understands what’s happening both inside and outside the organisation becomes a valuable advisor, able to address the concerns of stakeholders and guide the business in alignment with its goals.
Building the Skills and Experience to Step Up
Maintaining Technical Strength and Growing Leadership Capability
Aspiring CFOs need a strong foundation in financial knowledge, combined with a proactive approach to leadership development. A strategic mindset—one that looks beyond the numbers—is essential.
Seeking Diverse Experiences
Taking on secondments or ‘stretch projects’ outside of finance is a great way to build strategic thinking and gain insight into different areas of the business. These opportunities broaden leadership skills, strengthen cross-functional relationships, and enhance visibility across the organisation.
Tracking Achievements and Strategic Impact
Candidates for Strategic CFO roles should be ready to demonstrate where they’ve added value. Keeping a record of projects and outcomes—especially those that involved strategic input—can help articulate a strong case during the recruitment process.
Ongoing Professional Development
The learning journey doesn’t stop once you reach CFO level. Continuous development—targeted to your industry and organisation—keeps you ahead of the curve. Whether it’s sustainability reporting or navigating public sector dynamics, being curious and committed to growth increases the strategic value you bring.
To secure your next senior appointment or grow your talent pipeline for CFO, reach out to your local Gerard Daniels team.
