When it comes to managing finances, men are often looked upto. However, changing times have brought in newer trends. Women are increasingly making their mark in the finance industry, excelling as formidable leaders. In this vein, Elena Gusakova, CFO at CCS Trade DMCC, stands as a beacon of female leadership prowess. With a distinguished tenure in Dubai, she spearheads financial and risk management, leaving an indelible mark through her adept oversight of regional operations. Notably, her financial restructuring initiatives have bolstered the company's profitability and stability. Beyond her professional achievements, Elena is a proud mother of three, epitomizing the delicate balance between career and family life, crucial for her emotional well-being and continued success. Her commitment to perpetual learning ensures she remains at the forefront of evolving finance and technology landscapes. Let’s read on.

Describe your previous industry experience that you bring as a finance leader. What were some of the most critical milestones in this journey?

Before joining my current company, I gained substantial experience in financial management in Ukraine, working at a major industrial corporation in metal production and coal mining. As financial controller and head of trade finance, I ensured a constant funding source, engaged in strategic planning, and optimized financial operations to reduce costs and improve efficiency. These roles were crucial in developing my expertise in financial planning, risk management, negotiations, and managing large financial projects.

Tell us about the key areas of expertise you have developed over the years as a finance leader.

Over the years, I have developed deep expertise in strategic planning, cost optimization, and capital management, as well as corporate finance and managerial accounting. My understanding of complex financial structures and models improved operational efficiency and reduced costs. I played a key role in formulating financial strategies, including capital investments and financing large projects. In managerial accounting, I enhanced reporting systems and budgeting, facilitating timely decision-making. Implementing best practices in financial analysis improved transparency and predictability. My skills in forecasting financial results and negotiating financing have strengthened, enhancing my ability to manage risks and optimize financial stability. 

What are your key responsibilities as the company's CFO?

As the CFO, my key responsibilities encompass a wide range of financial and strategic roles. I ensure accurate financial reporting and compliance with regulatory requirements, overseeing all financial statements and performance analyses to provide clarity to stakeholders. I play a crucial role in strategic financial planning and decision-making at the executive level, shaping the company’s financial strategy and aligning it with our long-term goals.

Managing financial risks is critical, as I develop and implement policies to protect the company’s assets and financial health. Cost management and optimization are constant priorities, where I review operations and investments to ensure they meet our financial targets. Additionally, I manage the company’s capital structure, engage with investors, and negotiate financing terms to optimize our financial setup. Leadership and team development are central to my role, as I mentor the finance team, fostering a culture of high performance and continuous improvement. Ensuring compliance with financial regulations and integrating new financial technologies to enhance efficiency and accuracy are also key aspects. These tasks require strategic vision, meticulous attention to detail, and robust leadership skills to ensure the company’s financial health and sustainable growth.

What have been the most critical challenges you encounter in your current role, and how do you overcome them?

One of the main challenges I face is managing financial risks amid global economic instability. Overcoming these challenges requires strategic planning and the use of innovative financial tools. The ability to swiftly respond to new technologies and rapidly changing economic trends is crucial. This adaptability and strategic foresight are essential for maintaining continuous stability and resilience within the organization. 

Highlight the most significant professional milestone you have achieved in your career. What has been your success mantra over the years?

One of my career's pivotal milestones was the successful financial restructuring, markedly enhancing financial indicators and stability. However, I consider my true career zenith yet to come, as I persistently pursue knowledge and skill enhancement. My success formula involves continuous learning and adapting to new conditions and technologies, keeping me abreast of industrial and financial advancements. Moreover, I prioritize work-life balance, fostering high productivity and emotional wellbeing, bolstering my leadership efficacy and professional achievements.

What are your predictions for the future evolution of the finance landscape in the UAE? Which industry trends do you believe will have the most significant impact? 

The finance landscape in the UAE is witnessing notable growth and innovation, and I anticipate this trend to persist. Ongoing digitization and automation of financial services will spawn new products and services, enhancing accessibility and convenience for users. With a heightened global emphasis on sustainability, UAE investors and regulators are increasingly prioritizing environmental, social, and corporate governance (ESG) standards, necessitating transparent reporting and ESG integration into corporate strategies. Artificial intelligence and big data utilization will expand, furnishing financial institutions with potent tools for data analysis, risk management, and personalized client offerings. Regulatory reforms will also hold significance as UAE regulatory bodies actively foster a conducive environment for financial innovation, fortifying consumer protection and financial stability. Collectively, these factors will shape the UAE's financial landscape, fostering a more dynamic, integrated market with heightened efficiency and security.

Advice for aspiring women entrepreneurs/business leaders

Have confidence in your abilities and vision. Surround yourself with mentors and peers for guidance and support. Keep learning to adapt in the ever-changing business landscape. Embrace failure as a stepping stone to success. Advocate for yourself and know your worth in negotiations and promotions. Maintain work-life balance to sustain leadership success, prioritizing physical and mental well being. 

Elena Gusakova,  CFO, CCS Trade DMCC

Elena Gusakova is an accomplished finance executive with extensive experience in strategic financial planning and risk management. With a background in corporate finance and a track record of optimizing financial operations, she excels in driving sustainable growth and enhancing organizational efficiency.