central south mid market
INTERNATIONAL ECONOMIC
ENGINE GROWING AMBITIOUS
commercial focus on how regulation impacts pricing and the pricing model; for example, how that pricing model then gets applied within the business and externally, and how the costs are offset against that. FDs will have to navigate this, and the successful ones will look to get ahead of the curve. They will need to monitor the regulatory environment, update and improve existing policies, and instantly highlight any breaches and risks before informing the wider business.
Going global
International expansion places different pressures on a business. As companies expand overseas it becomes increasingly complex to manage the different country- specific reporting requirements. The finance function will need to be adaptable as it streamlines different rules and regulations into existing processes and FDs will quickly need to establish how they and their team can best support expansion into new markets.
Must-have skills
If technical knowledge is a given, soft skills are now equally critical traits for the successful FD.
Adaptability, empathy, persuasiveness and other core people skills are needed alongside financial acumen. Richard Dibden, commercial director at CMA Recruitment Group, said: “In addition to juggling multiple priorities and often making difficult judgment calls, the ability to get along with people and influence them is a key skill. Any FD will need to work with a wide range of stakeholders who have different interests and priorities.”
He added: “We get much more detailed criteria now as to what CEOs and audit committees are looking for from candidates when recruiting an FD. Interestingly, the need for them to be ever more commercial and strategic has in turn led to a growing confidence in their abilities to run a business. We are seeing more FDs and CFOs seeking to step up to the role of managing director or chief executive.”
THE BUSINESS MAGAZINE – NOVEMBER 2017 The future
The fact is that the workplace is changing fast. FDs agree that artificial intelligence (AI) and big data will underpin many financial decisions over the next decade. This means that the day job will
fundamentally change in the coming years. The most successful FDs will be open to alternative solutions and willing to take on a very different role than currently expected of them. Being adaptable may be the core skill for future fit FD.
The Central South Mid Market’s top performing FDs
As part of our Future Fit FD focus we have sought to identify the highest achieving and most talented FDs in the region’s mid-sized businesses, looking for exceptional performance in the following areas:
- Leadership and management skills - Contribution to the performance and growth of the business - Demonstrable financial accountability - Effective contribution to strategic direction - A passion for the business and making a wider contribution to the community.
We are delighted to announce (alphabetical by surname) the top 10 performing FDs who will now be shortlisted for the first Central South Mid Market FD of the Year award – the winner being revealed at a gala dinner in February 2018.
• Tim Coomer, finance director – R&M Electrical Group • Alan Cooper, finance director – Liberty Leasing • Joe Jeffers, finance director – Taylor Made Computer Solutions • Ben Jones, chief financial officer – Nature’s Way Foods • Mike Lashmar, finance director – RB Sport & Leisure Holdings • David Mann, finance director – McCarthy & Stone Management Services • David Mellor, finance director – Porvair Filtration Group • Tony Prest, finance director – Oil Spill Response • Dagne Taylor, finance director – Osprey Europe • Paul Winter, group finance director – Red Funnel Group
Nominations came from managing directors, CEOs and the professional community and were open to finance directors at mid-market companies with turnovers for the past financial year of between £10 million and £300m only. The company had to be headquartered in the central south (this includes the postcodes DT,BH,SP, PO and SO).
For more information contact Cheryl Martin or Richard Dibden
cheryl.martin@
bdo.co.uk richard.dibden@cmarecruitment.co.uk
businessmag.co.uk 47
CHALLENGES
RESILIENT
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