Quotidien Fintech, Blocktech, Deeptech / Daily News

Vendredi 6 Avril 2012

CFO's Dive Into Risk Management

In a CFO survey, 72% of respondents stated that their companies have increased efforts devoted to risk management over the past two years. According to an article by Kate O' Sullivan: "the deep dive...keeping cool in the hot seat" in the March 2012 edition of CFO.com, the most critical risk is customer demand and profitability.

Joel Lesser
Joel Lesser
There are many ongoing risk factors associated with customer demand and profits, such as workforce worries. Bill Schultz, controller for RSW Group, states that, "when the economy declines, that hurts us from a sales perspective, but when the economy picks up, our employees start looking elsewhere". RSW Group experienced over a 100% turnover last year, so they revamped their compensation program to more of a long-term strategy, encouraging the workforce to have a longer career path with RSW.

Kevin Lamb, CFO for Sauder Woodworking, launched a risk strategy of using different types of particle board in their products, reducing waste in the manufacturing process and sourcing it from different suppliers. These tactics have provided competitive pricing for home goods in a down housing market.

There are many other factors that effect business in general, such as the European debt crisis, the Japanese tsunami, and even the looming U.S. presidential election, but as most all CFO's agree, we must lead our firms on strategies and tactics which we have considerable control for the greatest financial impact.

Joel Lesser is a CFO who makes decisions - with his own brand of diligence, integrity and thoughtfulness - that ensure reliable foundations on which businesses and talent may grow.
Acutely aware of the domino effect of change, he constantly asks himself, “Are we not only doing it right, but also are we doing the right thing?”


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