Forging a Powerful CFO-COO Partnership to Drive Organizational Success

How To Become a More Strategic CFO: https://bit.ly/3CXkSEu

The CFO-COO partnership is undeniably one of the most powerful alliances that can make or break a company's success. When working in perfect harmony, this duo creates a formidable force that drives strategic decisions, enhances operational efficiency, and propels growth.

In this installment of our finance business partnering series, host Melissa Howatson welcomes Sandra Clarke, Former Executive Vice President and Chief Operating Officer of Blue Shield of California. Sandra, who spent the majority of her career in finance, progressed from analyst to CFO before taking on the COO role. She discusses the unique perspective of having been on both sides of the CFO-COO relationship, addressing the benefits of close collaboration as well as the challenges that may arise from competing priorities.

Discover what it takes to build a successful CFO-COO business collaboration that benefits the entire organization, and how this dynamic partnership directly impacts a company's bottom line.

Discussed In This Episode:
• The role of the COO, its variability across companies, and where it intersects with the CFO’s role in facilitating company strategy and boosting growth.
• How finance leaders can bring the most value to the operations team by understanding the business, identifying patterns in numbers that may indicate potential issues, and recommending optimal resource allocation.
• Key elements of a strong CFO-COO partnership, include humility, mutual trust in each other's expertise, and an unwavering focus on what's best for the business.
• Navigating tensions between CFO and COO roles when financial data doesn't support perceived operational needs, and strategies for collaboration in these challenging situations.
• How finance teams can improve their working relationship with their COO

Chapters:
00:00 Introduction to Business Understanding
00:37 Welcome to the CFO Show
01:07 Guest Introduction: Sandra Clarke
01:48 Sandra's Career Journey
05:08 Role of the Chief Operating Officer (COO)
08:11 Finance and Operations Synergy
10:54 Metrics and Measurements
14:09 Tactical Approaches to Business Partnering
17:58 Challenges and Tensions
24:20 Impactful Initiatives During COVID-19
29:22 Rapid Fire Questions
30:49 Conclusion and Sign-Off

Guest Links:
  / sandramclarke  
https://www.blueshieldca.com/en/home
   / @blueshieldca  

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