In the wake of the 2008 financial crisis, the role of the banking CFO has expanded dramatically. Today’s bank CFO is instrumental in setting strategy and allocating resources to bring the strategy to life, all while overseeing corporate operations and leading digital transformations.
At a glance
- With interest rates near zero, the bank CFO must be a deal-maker who can find new ways to structure capital and excess liquidity and protect core revenues.
- Amid intensifying regulatory scrutiny, CFOs are taking the lead in ensuring compliance—cost-effectively.
- While COOs are seeing their roles diminish or even disappear, CFOs are increasingly central to cost-cutting drives.
- CFOs are also at the forefront of initiatives to turn data intobusiness opportunities—and fend off digital challengers.
- Because the demands for the role are enormous, CFOs need support from on high as they encounter the inevitable setbacks and surprises lurking in today’s turbulent competitive environment.