{"id":20907,"date":"2025-02-26T11:24:47","date_gmt":"2025-02-26T11:24:47","guid":{"rendered":"https:\/\/www.sage.com\/en-gb\/blog\/?p=20907"},"modified":"2025-03-19T14:28:36","modified_gmt":"2025-03-19T14:28:36","slug":"real-world-advice-financial-services-cfo","status":"publish","type":"post","link":"https:\/\/www.sage.com\/en-gb\/blog\/real-world-advice-financial-services-cfo\/","title":{"rendered":"The first 90 days: Real-world advice from a financial services CFO"},"content":{"rendered":"<header class=\"entry-header has-dark-background-color entry-header--has-illustration entry-header--has-illustration--generic\">\n\t<div class=\"container\">\n\t\t<div class=\"entry-header__row row align-center\">\n\t\t\t<div class=\"col col-lg-7 col-xlg-6 entry-header__content\">\n\t\t\t\t\t\t\t<div class=\"component component-single-header\">\n\t\t\t\t\t\t\t\t\t\t<div class=\"entry-header__misc text--subtitle text--uppercase text--small\">\n\t\t\t\t\t\t\t<a href=\"https:\/\/www.sage.com\/en-gb\/blog\/category\/people-leadership\/\" class=\"entry-header__link\">People &amp; Leadership<\/a>\t\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t<div class=\"entry-title-wrapper\">\n\t\t\t\t\t<h1 class=\"entry-title\">\n\t\t\t\t\t\tThe first 90 days: Real-world advice from a financial services CFO\t\t\t\t\t<\/h1>\n\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t\t<p class=\"entry-header__description\">\n\t\t\t\t\t\t\t\t\t\t\t<\/p>\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t<\/div>\n\n\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t<\/div>\n\t<div class=\"single-post-details container\">\n\t\t<div class=\"col\">\n\t\t\t<span class=\"posted-on \"><time class=\"entry-date published\" datetime=\"2025-02-26T11:24:47+00:00\">26 February, 2025<\/time><\/span><span class=\"reading-time\"> min read<\/span>\n\t\t<button\n\t\t\ttype=\"button\"\n\t\t\tclass=\"social-share-button button button--icon button--secondary js-social-share-button\"\n\t\t\tdata-share-title=\"The first 90 days: Real-world advice from a financial services CFO\"\n\t\t\tdata-share-url=\"https:\/\/www.sage.com\/en-gb\/blog\/real-world-advice-financial-services-cfo\/\"\n\t\t\tdata-share-text=\"Please read this interesting article\"\n\t\t>\n\t\t\t<span class=\"social-share-button__share-label\">Share<\/span>\n\t\t\t<span class=\"social-share-button__copy-label\" hidden>Copy Link<\/span>\n\t\t\t<span class=\"social-share-button__copy-tooltip\" aria-hidden=\"true\" hidden>Copied<\/span>\n\t\t<\/button>\n\n\t\t\t\t<\/div>\n\t<\/div>\n<\/header>\n\n\n<div class=\"wp-block-post-author\">\n\t\t\t<div class=\"co-authors\">\n\t\t\t\n\t\t<div class=\"entry-author-wrapper\">\n\t\t\t<a class=\"entry-author\" href=\"https:\/\/www.sage.com\/en-gb\/blog\/author\/yassirmalik\/\">\n\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"40\" height=\"40\" src=\"https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2024\/03\/Yassir-Malik.jpg\" class=\"entry-author__image\" alt=\"yassir-malik-profile-picture\" \/>\t\t\t\t<span class=\"entry-author__name\">Yassir Malik<\/span>\n\t\t\t<\/a>\n\n\t\t\t\t\t<\/div>\n\n\t\t\t\t<\/div>\n\t\t<\/div>\n\n\n\n<p>For new CFOs in financial services, the first 90 days set the foundation for long-term success. <\/p>\n\n\n\n<p>But what does that foundation really look like?<\/p>\n\n\n\n<p><a href=\"https:\/\/www.haversinefunding.com\/team\/jeffrey-whaley\" target=\"_blank\" rel=\"noreferrer noopener\">Jeff Whaley, CFO at Haversine Funding<\/a>, shares candid insights from his journey transitioning into his first CFO role.<\/p>\n\n\n\n<p>Here&#8217;s what we cover:<\/p>\n\n\n<?xml encoding=\"utf-8\" ?><div class=\"wp-block-yoast-seo-table-of-contents yoast-table-of-contents\"><ul><li><a href=\"#h-start-with-the-fundamentals-even-if-it-feels-basic\" data-level=\"2\">Start with the fundamentals, even if it feels basic<\/a><\/li><li><a href=\"#h-build-credibility-through-action\" data-level=\"2\">Build credibility through action<\/a><\/li><li><a href=\"#h-create-a-tech-foundation-for-growth\" data-level=\"2\">Create a tech foundation for growth<\/a><\/li><li><a href=\"#h-balance-innovation-and-risk\" data-level=\"2\">Balance innovation and risk<\/a><\/li><li><a href=\"#h-practical-advice-for-new-cfos\" data-level=\"2\">Practical advice for new CFOs<\/a><ul><li><a href=\"#h-master-the-basics-first\" data-level=\"3\">Master the basics first<\/a><\/li><li><a href=\"#h-think-long-term\" data-level=\"3\">Think long term<\/a><\/li><li><a href=\"#h-build-strong-leadership-relationships\" data-level=\"3\">Build strong leadership relationships<\/a><\/li><li><a href=\"#h-focus-on-value-creation\" data-level=\"3\">Focus on value creation<\/a><\/li><li><a href=\"#h-stay-humble\" data-level=\"3\">Stay humble<\/a><\/li><\/ul><\/li><li><a href=\"#h-the-bigger-picture\" data-level=\"2\">The bigger picture<\/a><\/li><\/ul><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-start-with-the-fundamentals-even-if-it-feels-basic\"><strong>Start with the fundamentals, even if it feels basic<\/strong><\/h2>\n\n\n\n<p>Coming from nine years at Goldman Sachs in private credit and private equity, Jeff had deep industry expertise.<\/p>\n\n\n\n<p>Yet his approach focused on mastering the basics before tackling advanced initiatives:<\/p>\n\n\n\n<p>Jeff says, \u201cA lot of people who come into CFO positions think basic accounting is beneath them.<\/p>\n\n\n\n<p>&#8220;But especially in small to medium-sized organisations, you don\u2019t have that luxury. There are no unimportant tasks because organisations run lean.\u201d<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-build-credibility-through-action\"><strong>Build credibility through action<\/strong><\/h2>\n\n\n\n<p>The first 90 days are all about establishing trust and demonstrating competence.<\/p>\n\n\n\n<p>Jeff\u2019s approach focused on three key areas:<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li>Understanding core processes<\/li>\n\n\n\n<li>Building rapport with team members<\/li>\n\n\n\n<li>Delivering consistently on basic financial functions<\/li>\n<\/ol>\n\n\n\n<p>\u201cYou listen a lot more than you talk,\u201d Jeff explains. \u201cYou need to understand what\u2019s important to all stakeholders and what your service level agreements are with other groups. <\/p>\n\n\n\n<p>&#8220;Then focus on getting really, really good at those core functions.\u201d<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-create-a-tech-foundation-for-growth\"><strong>Create a tech foundation for growth<\/strong><\/h2>\n\n\n\n<p>When Jeff arrived, Haversine\u2019s financial infrastructure needed modernisation.<\/p>\n\n\n\n<p>His team focused on:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Streamlining the general ledger and chart of accounts<\/li>\n\n\n\n<li>Implementing dimensional reporting capabilities<\/li>\n\n\n\n<li>Creating efficient data structures for future scaling<\/li>\n\n\n\n<li>Automating manual processes.<\/li>\n<\/ul>\n\n\n\n<p>\u201cEverything was done with an eye toward scalability,\u201d notes Jeff. \u201cWe asked ourselves: We\u2019re doing okay with 30 loans, but what would we need to do with the same headcount to handle 300? <\/p>\n\n\n\n<p>&#8220;How do we handle 10 times more investors? All of our data and automation initiatives have to be done with an eye towards scalability.&#8221;\u00a0<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-balance-innovation-and-risk\"><strong>Balance innovation and risk<\/strong><\/h2>\n\n\n\n<p>While embracing automation, Jeff takes a measured approach to emerging technologies such as AI.<\/p>\n\n\n\n<p>He says, \u201cThere\u2019s AI and there\u2019s automation\u2014I view those as two different capabilities. <\/p>\n\n\n\n<p>&#8220;Automation is generally more suited to repetitive tasks not requiring significant analysis and it\u2019s incredibly important to us. <\/p>\n\n\n\n<p>&#8220;AI is a different as it requires a lot of upfront work be crystal clear about what you want it to do. <\/p>\n\n\n\n<p>&#8220;Right now, its most valuable application is extracting data from unstructured documents\u2014but even then, accuracy is critical, and it still requires a lot of oversight.&#8221;\u00a0<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-practical-advice-for-new-cfos\"><strong>Practical advice for new CFOs<\/strong><\/h2>\n\n\n\n<p>For those stepping into their first financial services CFO role, Jeff offers these insights:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-master-the-basics-first\"><strong>Master the basics first<\/strong><\/h3>\n\n\n\n<p>\u201cYou can\u2019t speak authoritatively about higher-level analytics if you don\u2019t understand the mechanics.\u201d<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-think-long-term\"><strong>Think long term<\/strong><\/h3>\n\n\n\n<p>\u201cIt\u2019s not easy to dedicate resources to efficiency projects that won\u2019t pay off for six to nine months, but you have to incorporate it into your day-to-day work.\u201d<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-build-strong-leadership-relationships\"><strong>Build strong leadership relationships<\/strong><\/h3>\n\n\n\n<p>\u201cI\u2019m fortunate to work with executives who see finance as a value-added function, not just a requirement. That mindset enables strategic growth.\u201d<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-focus-on-value-creation\"><strong>Focus on value creation<\/strong><\/h3>\n\n\n\n<p>\u201cOnce you get past the basics of accounting, focus on making finance not just a have-to-have, but an area that creates real value.\u201d<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-stay-humble\"><strong>Stay humble<\/strong><\/h3>\n\n\n\n<p>\u201cIn those first 90 days, you can\u2019t take anything for granted. Everything\u2019s important when you\u2019re starting.\u201d<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-the-bigger-picture\"><strong>The bigger picture<\/strong><\/h2>\n\n\n\n<p>Financial services CFOs face unique challenges\u2014from complex entity structures to investor reporting requirements.<\/p>\n\n\n\n<p>Success requires balancing immediate operational needs with long-term strategic vision.<\/p>\n\n\n\n<p>\u201cIn financial services, the CFO and COO roles often blur,\u201d Jeff notes. \u201cThere\u2019s more overlap than in a typical manufacturing company, for example. You need to understand both the financial and operational aspects deeply. <\/p>\n\n\n\n<p>&#8220;Regardless, what always matters is data. The finance function must consistently work to provide decision-makers with the best and most timely data possible.\u201d<\/p>\n\n\n\n<p>For more insights from Jeff, you can tune into Haversine\u2019s regular podcast <a href=\"https:\/\/www.youtube.com\/@InFocuswithHaversine\/videos\" target=\"_blank\" rel=\"noreferrer noopener\"><em>In Focus with Haversine<\/em><\/a>.<\/p>\n\n\n\n<div class=\"single-cta\">\n\t<div class=\"single-cta__positioner\">\n\t\t<div class=\"single-cta__wrapper has-dark-background-color\">\n\t\t\t<div class=\"single-cta__content\">\n\t\t\t\t\t\t\t\t<h2 class=\"single-cta__title h3\">Master your data superpower: Turn financial data into real-time insights<\/h2>\n\n\t\t\t\t\t\t\t\t\t<div class=\"single-cta__description\">\n\t\t\t\t\t\t<p><!-- wp:paragraph --><\/p>\n<p>If you\u2019re a CFO in a growing financial firm, outdated systems can hold you back. This e-book explores how you can optimise financial management with advanced software.\u00a0<\/p>\n<p><!-- \/wp:paragraph --><\/p>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a\n\t\t\t\t\t\thref=\"https:\/\/www.sage.com\/en-gb\/sage-business-cloud\/intacct\/resources\/ebooks\/the-cfos-path-to-life-beyond-xero\/\"\n\t\t\t\t\t\tclass=\"single-cta__button button button--primary\"\n\t\t\t\t\t\t\t\t\t\t\t\t\tid=\"cta-id-21241\"\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tdata-button-location=\"cta_box\"\n\t\t\t\t\t\t\t\t\t\t\t>Learn more<\/a>\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<img decoding=\"async\" width=\"1214\" height=\"810\" src=\"https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2024\/09\/Woman-accountant-advising-client-1214x810.jpg\" class=\"single-cta__image\" alt=\"Woman accountant advising client\" loading=\"lazy\" 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role.<\/p>\n","protected":false},"author":1774,"featured_media":19950,"menu_order":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_sage_video":false,"post_featured_image_hide":false,"footnotes":""},"categories":[10],"tags":[135,243],"business_type":[3],"lilypad":[],"context":[],"industry":[],"persona":[68,71],"imagine_tag":[96],"coauthors":[355],"class_list":["post-20907","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-people-leadership","tag-business-finances","tag-money-diaries","business_type-medium-sized-business"],"sage_meta":{"region":"en-gb","author_name":"Yassir Malik","featured_image":"https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2024\/10\/BrandShoot-LND_June2024_Financial-Services_0546.jpg","imagine_tags":{"96":"Medium businesses"}},"distributor_meta":false,"distributor_terms":false,"distributor_media":false,"distributor_original_site_name":"Sage 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