Better understand what financial management oversight involves and how to use it effectively

Financial outcomes are often the subtext of any business conversation. Yet studies of management meetings have shown that up to 65% of those present do not understand the language used and what the CFO is talking about.

Ensuring the financial situation is controlled and understood is a key element of making sure the board is aware of risks to the firm, its customers and business partners. Carillion casts a long shadow.

Better understanding helps make better decisions

Provide better oversight – Ensuring you have and are using the most relevant information, and are aware of the trends and developments which affect financial management..

From Compliance to performance – You’ll take your firm beyond just keeping the regulator happy. Be prepared to challenge about changes and trends which will affect financial outcomes.

Better information – Its not what you have but what you look at, how you use it and how you engage others with it.

Focus on growing your firm – Avoiding the “banana skins” which may lie within financial reports can help you spend less time on the regulatory and compliance issues, so you can spend more time thinking about the steps you need to grow your business and secure its future.

The Course Agenda

Introduction

• What is “financial management oversight” for a financial services organisation?
• Overview of the key elements
• Regulatory expectations of directors

Essential Financial Controls

• How should the finance function work with the rest of the firm?
• Cash and client money
• Analysing performance
• Forecasts and variances

Identifying Potential Problems

• Internal controls and checks
• Will it keep you awake?
• Systems and the human factor

Using relevant KPIs and tools

• Revenue, profit, cash
• Liquidity options
• “Stress test” you and/or your customers

Case Study: what would we have done?

• How the figures paint a picture
• Root cause analysis
• What did the board meeting look like?
• The role of Auditors