How to succeed in finance
The CFO is four roles at once — strategist, catalyst, operator, steward — dialed up or down as the work demands.
In the competitive world of finance, success isn't a straightforward path but a journey that requires adaptability, continuous learning, and the ability to wear multiple hats. If you're aiming to climb the corporate ladder in finance, understanding the multifaceted nature of the role is essential. Here's an insight into what it takes to succeed in finance from Srini Phatak, Deputy CFO and Controller of Unilever, a Fortune 500 company.
The four phases of finance
Srini enumerates four key roles of finance professionals: strategist, catalyst, operator, and steward. These roles are not sequential but rather simultaneous, requiring a blend of skills to navigate the complexities of the financial world.
- Strategist. Understanding and anticipating market trends, setting long-term goals, and developing a roadmap to achieve them. A strategist thinks ahead, foresees potential challenges, and plans accordingly.
- Catalyst. A finance professional drives change within the organization. This role involves challenging the status quo, fostering innovation, and facilitating growth. The ability to inspire and lead transformative initiatives is crucial.
- Operator. Day-to-day management of financial operations — ensuring efficiency, managing resources, and maintaining robust financial controls. Precision and attention to detail are the operator’s distinguishing traits.
- Steward. Safeguarding the company’s assets and ensuring compliance with regulatory requirements. This role emphasizes governance, risk management, and ethical leadership.
The importance of leadership
Underlying these four phases is the need for quality leadership. Finance professionals must excel not only in their individual roles but also in leading and motivating their teams. Success in finance is achieved through people, and strong leadership skills are indispensable.
Adaptability is the key to reinvention
One of the most critical skills in finance is adaptability. The ability to dial different roles up or down based on the situation is what differentiates successful finance professionals. That adaptability allows for continuous reinvention, keeping skills relevant and impactful.
Strategic thinking and managing ambiguity
As you ascend to higher roles within an organization, additional skills become essential. According to Srini, “your ability to think strategy, your ability to think future, your ability to deal with ambiguity” are paramount. Equally valuable is the skill of simplifying complex scenarios and making them understandable for the rest of the organization.
Collaboration with leadership
To stand out, a finance leader must work closely with the CEO and the executive team. Acting as a co-pilot, providing insights, and contributing to strategic decisions are what set apart exceptional CFOs from the rest.
Conclusion
Success in finance requires a blend of strategic insight, operational excellence, leadership, and adaptability. By mastering the roles of strategist, catalyst, operator, and steward — and continuously reinventing oneself — finance professionals can make a significant impact and differentiate themselves from their peers. It isn’t about excelling in one area; it’s about harmonizing several roles to drive the organization forward.
Related questions
- What are the four roles of a CFO?
- A modern CFO operates as strategist, catalyst, operator, and steward simultaneously rather than in sequence. The strategist anticipates market trends and sets long-term direction; the catalyst drives change and fosters innovation across the organization; the operator runs day-to-day financial operations with precision and control; the steward safeguards assets, manages risk, and ensures compliance. Strong finance leaders move fluidly between all four, emphasizing whichever the moment demands.
- What skills matter most for advancing into senior finance roles?
- Beyond technical accounting and reporting, advancement depends on strategic thinking, the ability to anticipate the future, and comfort operating amid ambiguity. Senior finance leaders must also simplify complex scenarios so the rest of the organization can act on them, and partner closely with the CEO and executive team as a co-pilot on strategic decisions. Leadership of people is the connective tissue — finance results are delivered through teams, not individuals.
- Why is adaptability important in a finance career?
- Adaptability is what lets a finance leader dial the strategist, catalyst, operator, and steward roles up or down as situations change. Markets shift, businesses scale, and crises arrive without warning, so the mix of roles that worked last year rarely fits the next. Treating adaptability as a core skill enables continuous reinvention, keeping a finance professional's capabilities relevant and impactful over a long career.
Updates
- Editorial pass: title set to sentence case, summary sharpened, related episode linked, and a Related-questions FAQ block added.