CFOs are no strangers to risk management, but as the finance chief’s position morphs into that of a strategic leader, such competencies have become more sought-after.
Fifty-two percent of CFOs, in fact, highlighted identifying and mitigating business risks as a top need skill set, according to a recent survey by Travelers. That figure comes just under the 62% who highlighted strategic planning and ties with the ability to manage a network of internal and external stakeholders, the survey of 610 CFOs in insurance decision-making roles revealed.
The findings come as CFOs are seeing their responsibilities evolve to manage “not just financial risk, but also managing risk throughout the whole company,” said Joan Woodward, founder and president of The Travelers Institute, in an interview. The New York-based company provides a suite of insurance products, including auto, property casualty and cyber.
Cybersecurity education and preparation
As finance chiefs gain more responsibility over risk management, they need to juggle a number of ongoing challenges and risk areas that are buffeting their businesses. While the top three…
