Role of CFOs in organisations cannot be overemphasised ' Actis boss

Private equity firm, Actis Capital, has highlighted the importance of Chief Financial Officers in financial institutions. A statement by the equity firm on Monday quoted the Chief Executive Officer, Actis, Mrs. Ngozi Edozien, as saying during the companys third CEO breakfast forum, titled, "The Evolving role of CFO in Enhancing Business Performance and Creating Shareholder Value" that the role of CFOs could not be overemphasised.Edozien said, "The role of the CFO has evolved over recent years from being one focused on control towards one where strategic value creation in the business is key. The role of the CFO, especially in the tough environment of emerging markets, where both growth potential and risks are high, must evolve beyond an operational one to one which requires an understanding of financial planning, financial performance management, funding, investor relations and even mergers and acquisitions." She added that in the world of private equity, CFOs that went well beyond keeping the books and control to one that provided an insight on performance and guidance on areas where value could be enhanced were sought after.Edozien said, "Being a great CFO in todays business environment where economic challenges seem to pop up each year can be viewed as a Herculean task and a major cultural and professional shift from where things were a few years ago."The CFO who adds value from doing the deal, to managing the business to supporting an exit in the private equity world must be technically competent in the traditional operational roles of accounting and collections but also focused on profit and loss, cash and balance sheet management.He must be commercially savvy with a keen mind for strategy, risk management and the ability to partner his CEO and Board to steer the company."
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