With technological advancements, enabling data to be used more effectively, clients are redefining the function of FP&A now and in the future in their organisational structure, with the line between commercial finance and data analytics becoming ever closer. FP&A continues to expand to become the central hub of corporate analytics in the vast majority of medium sized and large organisations, placing increasing emphasis in appointing the right person to this critical role.
With FP&A moving more towards the centre of most organisations, the skills our clients are looking for in their Heads of FP&A are evolving. Over the last 12 months, 40% of all the direct reports to the CFO / Group FD have been FP&A appointments versus 25% in the previous 12 months, demonstrating the increased focus our clients are placing on optimising their FP&A function. Whilst traditional FP&A skills such as excellent commercial insight and analytical skills remain critical, increasing importance is being placed on stakeholder management and business partnering, as well as the ability to thrive in an environment of change and continuous improvement.
With most large and medium-sized companies operating in ecosystems that are increasingly intricate and changing exponentially, sitting still isn’t an option. One of our clients described what they were looking for in their Head of Group FP&A as someone who is capable of being disruptive in a collaborative way and has the tenacity and resilience to get to the right answer. With clients looking for Heads of FP&A who have both the IQ and EQ to thrive in the role, it is understandable why clients are turning to businesses such as ours, to leave no stone unturned, when they make this critical appointment.
Wayne Poulton, Director, FinanceNorman Broadbent Solutions wayne.poulton@normanbroadbentsolutions.com
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