reinventing cfo -cfo 역할에대한재조명—할에 대한 재조명.pdf · 2015-12-14 · oj...
TRANSCRIPT
GE Korea김옥진전무
November 14, 2014
Reinventing CFO- CFO 역할에 대한 재조명
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OJKimisCFO/COOofGeneralElectric(GE)inKorea.AsthecountryCFO/COO,hisprimarilyroleistoleadGEKorea’sorganicandinorganicgrowth.
PriortojointheGEin2012,hehas18yearsofexperienceasafinancedirector,auditor,andaccountingadvisorfortopinternationalfinancialinstitutions. Mr.KimisanexpertinPost‐MergerIntegration,Financeintegration,SECrulesandregulations,USGAAP,SOX404compliance,andInternationalFinancialReportingStandards(IFRS).
OJKimworkedforKPMG13yearsasanauditor,advisorandconsultant,andhecompletedhisKPMGcareerasadirectorofKPMGGlobalConversionServicesfortheUSAin2007.HealsoworkedforSwissReCapitalMarketAdvisoryastheHeadofUSfinancefor3yearsfrom2007.HewasinchargeofFinancial&ManagementReportingandAccountingPolicy.
AfterlivingintheUSfor19years,hereturnedtoKoreain2009totakingaFinancedirector(SVP)positionatStandardChartedBankKorea.Hewasinchargeoffinancialreporting,regulatoryreporting,andK‐IFRSimplementationastheHeadofCountryFinanceDepartmentatStandardCharteredBankinKorea.
Mr.Kimisagraduate(MBA)ofUniversityofIllinoisBusinessSchool,andearnedBAdegreeinYonseiUniversityinKorea.He isamemberoftheAmericanInstituteofCertifiedPublicAccountants,theIllinoisandNewYorkCPASocieties,andtheBankingAdministrationInstitutionasaCertifiedBankAuditor(CBA)inUS.HeisalsocertifiedasFINOPinUS. HeservesAMCAHMasaBoardofGovernor.
Contents
Evolution of CFO Role
Expectation to CFO
Reinventing CFO
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Role Focus
1990’s Partnering with the Business“Efficient & Effective Finance”
Business Process ReengineeringLeveraging Technology (e.g. ERP)Management Information / Decision Support
2000’s Realizing Value over the Long Term“Value Creation & Value Preservation”
Balancing Performance and RiskIntegrated Finance and Business TransformationSustainable Confidence and Value
1980’sTransaction ProcessingUtilizing TechnologyReducing Cost of Finance
Keeping Score“Efficient Finance”
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HowfinancemanagersorCFOtransformtheirrolesandaddvaluestothecompany?
CFOsareincreasinglyaligningtheirfunctionnotjustwiththebusinessbutwiththecompany’soverallstrategy.Anddoingso,theyarenotjustsupportingthebusinesswithinformationandanalyses,butalsoensuringthattheentireenterprisedeliversonitscommitments.
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Freedomfighter Analystandadvisor Architectofadaptivemanagement Warrioragainstwaste Masterofmeasurement Regulatorofrisk Championofchange
Pressure & Challenges to CFO7
Toomuchdetailsandcomplexity Notenoughtimefordecisionsupport Inadequateforecastingcapability Toomanymeasures Lackofriskmanagementexpertise Newsuccessdriver:intellectualassetsandhumancapital
Newregulatoryenvironment:corporategovernanceincludingSarbanes‐Oxleyrules
Moredemandingshareholders
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Within the “Walls of Finance”Process Standardization
Financial Information IntegrityClosing through External Reporting
Budgeting and Financial ForecastingFinance Applications
Global Finance OperationsTax and Treasury Optimization
Finance Skills and CompetenciesOngoing Financial Control & Compliance
Outside the “Walls of Finance”
Business Process Optimization
Performance Management
Business Intelligence
Realizing the Value of Technology
Mergers & Acquisitions
Capital Allocation & Utilization
Cost & Profitability Improvem
ent
Enterprise-wide Risk Management
Returntobasis– gettingfinancialhouseinorder Apennysavedisamissedopportunities SegregationandDelegation Focusonwhatreallymatters! StepontheGAS Tax! Ifyoulovethem,setthemfree. Powerupthedottedlines
