CFO Search Requirements -- core competencies and leadership

The article emphasizes on geo exposure and staying until the senior manager level.  A Senior FP&A role in Bay Area company, requests these: 



• Two years of Investment Banking/Equity Research Associate experience in Technology, Financial Services or other related industry 
• MBA or equivalent graduate degree preferred 
• Demonstrated network of key players within the SAAS/Financial Services public markets 
• Strong analytical and creative problem solving skills with the ability to get things done 
• Ability to solve complex technical problems, assimilate information rapidly, and work under time constraints 
• Intermediate-advanced Excel skills including macro writing, and building dynamic reports and dashboards linked to internal data stores and charting 
• Strong visual presentation skills – summarizing and communicating excel data into visually appealing documents that communicate key messages 
• Capability to think beyond the task at hand and consider broader strategic issues 
• Excellent inter-personal and communications skills (both written and verbal formats) 
• Demonstrated ability to learn new technology

My point of view: Charles B. EldridgeHow the financial crisis and Sarbanes-Oxley are changing C-suite requirements Charles B. Eldridge ... Indeed, the demand for top-flight financial officers appears poised to rise across all industries. The global financial crisis created a temporary surplus of finance executive talent in recent years, but the uptick in CEO turnover suggests job openings are coming. Most new CEOs either bring in a new CFO or start looking for one shortly after they settle in. Finance executives who hope to leverage this opportunity in a tough job market must understand what CEOs are seeking today. One common CFO search requirement is somewhat restrictive, particularly for current Big Four audit partners and senior managers: companies often want to have a sitting CFO as their next CFO. This reflects a “ripple effect” of regulation. Prior to the Sarbanes-Oxley Act of 2002 (SOX), corporations would frequently offer the CFO position to their audit partner, who typically had established relationships with the CEO and the board, and who knew the lay of the land. If the audit partner had an MBA, even better. SOX quickly renewed the perceived value of a CPA qualification and technical accounting skills. But then the financial crisis hit, and the pendulum swung back toward an emphasis on the CFO as a CEO’s strategic partner, one who expertly manages cash and helps drive business growth. These hiring conditions mean that finance professionals seeking a CFO job or other senior position must strengthen their candidacy in a number of ways: Understand leadership requirements. Although functional expertise (e.g., corporate finance, treasury, controllership) is a requirement, it gets a CFO candidate only so far. Leadership qualities are much more important. They commonly appear on CFO search specification sheets phrased this way: “clever problem solver,” “thinks strategically,” “changes behaviors easily,” “performs well under all conditions,” “low tolerance for marginal talent” and “deals with complexity and ambiguity very well.” Embrace forward-looking analytics. Financial planning and analysis (FP&A) expertise represents, by far, the most sought-after functional skill set within the finance function today. CFOs remain hungry for FP&A talent who can help them look ahead with greater clarity and accuracy. Network aggressively. References and recommendations matter more than ever. In the post-SOX era, CEOs and board members focus first and foremost on balancing risk and business growth, and they want to feel confident about any new CFO. The best candidates continually strengthen their networks, even when they don’t “need” to. Go global. Scan the résumé of most Fortune 500 CFOs and you will see that many made geographic moves — including stops in EU countries, South America, the Middle East and Asia-Pacific — every two to three years. Experience abroad is a necessity for today’s CFO. Stay on the job longer, especially early on. Current auditors should recognize that experience as a senior manager in a Big Four firm resonates with hiring teams in the same way that an MBA does. Auditors who leave their firms before becoming senior managers or partners generate far less career return on investment from their public accounting experience.