#211 Power Moves: CFO Strategies for the Modern World with Justin Smith, CFO, FinQuery

#211 Power Moves: CFO Strategies for the Modern World with Justin Smith https://open.spotify.com/episode/1pWwzUs6hkgmIypL7iATHQ The role of the Chief Financial Officer (CFO) has evolved significantly in recent years, moving beyond the traditional focus on balance sheets and financial reporting. In this podcast episode, Justin Smith, the CFO of FinQuery, shares his insights on the evolving responsibilities and skills required for modern CFOs to drive strategic and operational value within their organizations. Justin spent almost a decade working at Goldman Sachs in the investment banking division where he focused primarily on strategic finance, giving him the ability to approach every decision as a CFO with a unique perspective.  Justin is passionate about promoting cross-functional efficiency as he’s spent a lot of time working across departments because his job is to manage all financial resources for the firm, which touches just about every corner of the company. In his POV, finance should be like Switzerland. They are neutral but need to manage efficiency and resources across the whole organization. They also need to take into account proper cost cutting while simultaneously allocating towards growth, which not every CFO is able to accomplish. Justin’s career journey from an investment banking background to the CFO seat at FinQuery provides a unique perspective on the changing landscape of the finance function. He discusses the challenges of transitioning into the CFO role, the importance of communication and data-driven decision-making, and the strategies employed by FinQuery to navigate the uncertain economic environment. Key topics covered:  Justin's career path from investment banking to CFO at FinQuery The evolving role of the CFO, moving beyond traditional accounting and finance The importance of communication, analytical skills, and strategic thinking for modern CFOs FinQuery's approach to balancing growth and profitability in uncertain times The role of data analytics and AI in finance and operations Strategies for effective communication and integration in a remote work environment Advice for finance leaders navigating transformation and change https://www.youtube.com/watch?v=cc2Zk4YdFxo Links Justin Smith on LinkedIn Kevin Appleby on LinkedIn GrowCFO Mentoring Timestamps 0:04:32 Challenges faced by Justin in transitioning to the CFO role 0:06:25 Key skills required for a modern CFO 0:14:38 Top challenges faced by FinQuery in the current economic environment 0:20:06 FinQuery's approach to data analytics and AI 0:28:35 Challenges of communication and integration in a remote work model 0:31:38 Advice for finance leaders navigating transformation Find out more about GrowCFO If you enjoyed this podcast, you can subscribe to the GrowCFO Show with your favorite podcast app. The GrowCFO show is listed in the Apple podcast directory, Spotify and many others. Why not subscribe there today? That way, you never miss an episode. GrowCFO is a great place to extend your professional network. Join GrowCFO as a free member today and participate in our regular networking events and webinars. Premium members can also access our extensive training center and CFO Digital Toolkit. You can enroll in our flagship Future CFO or Finance Leader programs here. You can find out more and join today at growcfo.net