The CFO Role Revisited: Examining the CFO Role in Europe

The financial crisis revealed several critical areas of financial management and control in need of improvement within financial institutions (FIs).  In 2008, we called on European CFOs to address these exposed weaknesses and to integrate strategy and planning, the operational links between finance, risk, and line management, and to improve internal controls. 

After working with several of these CFOs to make progress in these areas, we were prompted to revisit the role of the CFO and conducted an examination of the role of CFOs in 47 FIs across Europe. 

In this Oliver Wyman Point of View, The CFO Role Revisited, we break down the challenges and scope of responsibilities faced by CFOs, examining them through various profiles we have devised.  Interestingly, we have discovered that the performance of FIs in Europe has varied in relation to the profiles of their CFOs, both during and after the crisis. These observations support our view that CFOs must reach beyond their traditional statutory duties and play a leading role in several strategic processes.

Lead Author
Dr. Christian Pedersen, Partner in the EMEA Finance & Risk Practice

This publication is only available by request. Please fill out the form below to request a copy: