Leading As a Modern CFO

Boss of Analyst: The role of a CFO is similar to a treasurer or controller because they are responsible for managing the finance and accounting divisions and for ensuring that the company’s financial reports are accurate and completed in a timely manner.

The CFO is a financial controller who handles everything relating to cash flow, financial planning, and taxation issues. A CFO is often the highest financial position and the third-highest position in a company, playing a vital role in the company's strategic initiatives. The modern CFO must balance competing priorities, manage complex financial systems, build and maintain relationships with so many different types of stakeholders, and manage change effectively.

CEO & CFO: The chief executive officer (CEO) is a company’s highest-ranking executive. Depending on corporate structure, the CEO may be responsible for all aspects of a company’s operational and fiscal health, or a president may share some duties. The CEO is the official face and voice of the company to press and analysts, the general public and, if applicable, the board of directors. CFOs are the most senior financial officers in an organization. They report directly to the CEO and work closely with the board of directors. The CFO and CEO work closely and collaboratively, with CFOs serving as sounding boards, strategists and risk mitigators.

Madame in Analyst: Women CFOs has increased in recent years, there is still a long way to go to achieve gender diversity and inclusion in finance leadership positions. Companies seem to be more open to bringing in women CFOs as external hires, which may reflect an absence of candidates within the company. Globally, approximately 37percent of women CFOs were externally hired, versus approximately 27percent of men CFOs and companies can unlock their full potential by having more women professionals in the finance function.

The economy of the UAE is the 5th largest in the Middle East with a GDP of $501 billion (AED 1.84 trillion) in 2022, largely contributed by Retail, Hospitality, Healthcare, Manufacturing, Construction, and Media indus¬try. Many women CFOs in UAE have been an important part of this growth leveraging their dexterity in the business processes.

In this issue, the Women Entrepreneur magazine brings a list of ‘Top 10 Women CFOs from UAE – 2023’, who are domineers of change in the corporate realm of the country. This list of ten leading and inspiring women is crafted by a team of CEOs, VCs, and the editorial board, delivering inspiring stories of their journey and the contributions & roles played by them in the creation and empowerment of an economically powerful nation.