Finance Leaders Refocus With ERM

According to the recently published 2010 Global CFO Study, finance leaders increasingly are becoming champions for enterprise risk management in their organizations.  Conducted by the Economist Intelligence Unit and IBM, the study included interviews and surveys of over 1,900 CFOs from 81 countries and 32 industries.  One of the authors sat down with Dow Jones Newswires to discuss the insights gained from the study.  Here is what he had to say.

Bill Fuessler, co-author of the study, told Dow Jones Newswires that finance chiefs are moving away from their transaction activities--and paying more attention to the integration of data. He said the CFO position has evolved into a much more strategic role as they take on more involvement with risk management.

Fuessler said the role of finance has evolved in recent years, with the two biggest jumps in responsibility being driving integration and supporting managing enterprise risk, both of which have doubled in importance in the last five years. And more than 70% of finance chiefs are advising or playing a critical decision-making role in areas such as risk management and business model innovation, the study found.

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