Effective finance business partners
those who understand how to deliver sustained shareholder value
ensuring that the whole organisation understands key performance drivers
pursuers of efficiency - from the investment base in areas of capex, working capital, brands, R&D etc
understanding that flawless execution is as important as strategy
confidence providers to stakeholders
They must:
understand the key business drivers
develop influencing skills
be proactive
Finance business partnering skills & competencies matrix
CGMA's business partnering skill set Effective business partnering relationships
Empathy with business
Compelling communication
Preparedness to challenge
Contribute insights into drivers of cost, risk and value
Passion for business
Commercial curiosity
Professional objectivity
Ability to integrate, apply and communicate
Business understanding
Analytical skills - data visualisation
Accounting skills
Strategic involvement includes developing:
robust strategic processes
advising on major investments
product/service developments
asset and infrastructure investments
working with operational and business mangers
advising on issues such as current and expected outcomes mix, capital structure etc.
risk return profiles
Management accounting tools & Techniques supporting business partnering
Governance and risk management
CIMA strategic scorecard
enterprise risk management (ERM)
risk heat maps
CGMA ethical management reflection checklist
Strategic planning and execution
strategic planning tools -
mission and vision statements
goals and objectives
SWOT
PEST
balanced scorecard - including operational dashboards
strategy mapping
porter's five forces of competitive position analysis
Product and service delivery
Activity based costing (ABC)
lean
quality management tools -
TQM
six sigma
cost of quality
EFQM
Value recognition
value chain analysis
customer relationship management (CRM)
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