Supervisors (Supervisory Board, Advisory Board, and Audit Committee) are often seasoned professionals. Strong individuals with a wealth of experience. They represent a wide range of interests and bring a fresh perspective to the board, the business, and the corporate environment. Their unique viewpoint helps in asking critical questions and uncovering hidden assumptions.
Annette: “In our practice, we often see CFOs, non-financials, and supervisors struggle with collaboration, internal discussions, transparency, and preparation.”
The challenges of supervisors
Supervisors, however, face significant challenges:
How you as a CFO can make a difference
CFOs can greatly improve collaboration with supervisors. Here are some practical tips to fully leverage the value of supervisors:
1. Make Important Information Clear: Distinguish between main points and details, and present essential information in a clear format, such as a one-pager. This helps supervisors quickly grasp the key points.
2. Provide Context: Ensure that the information provided always clarifies the broader context. This gives supervisors a better understanding of the implications of decisions.
3. Organize Deep-Dive Sessions: For complex and important issues, such as strategic changes or large investment projects, consider organizing separate meetings. These sessions allow for a thorough discussion and understanding of the case. This requires different preparation, which should be clear in advance.
Van static to dynamic: A new approach
We financials tend to paint a static picture, for example with the valuation of balance sheet items or the establishment of a budget. However, when dealing with uncertain topics, it is essential to involve supervisors in the dilemmas we encounter along the way.
Annette: “Openness about dilemmas reduces their information lag and ensures that supervisors truly engage with important issues.”
By adopting this approach, the conversation is not just about the content but also about jointly achieving the higher goal behind it. This allows everyone to contribute optimally, which not only improves the outcome but also the process leading to it.
As interim CFOs, we know from personal experience the added value that CFOs, non-financials, and supervisors can create together. It doesn’t happen automatically, but with the right approach, thorough preparation, and transparency, you can certainly take each other to the next level.
