Subbu Subramaniam | Independent Director; Former Group CFO, Titan Company Limited

Subbu Subramaniam | Independent Director; Former Group CFO, Titan Company Limited

• Subbu is an independent director.
• He is also the former group Chief Financial Officer of Titan Company Limited.

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Besides providing products and services, any business entity runs for profits and finances and runs with finances. Thus, finances are a critical area for every business and need experts in the department. Chief Financial Officer (CFO) is assigned the role of handling and allocating finances along with dealing with financial stakeholders. It is a role that can make or break a company. In today’s episode, we discuss how the role of CFO has evolved over the years and what are the key skills a CFO needs.

[00:30] – About Subbu Subramaniam

• Subbu is an independent director.
• He is also the former group Chief Financial Officer of Titan Company Limited.

[03:54] – How has the role of the Chief Financial Officer evolved over the years?

• It was almost entirely about bookkeeping at the back end and supporting business.
• The job was almost entirely about a controller rule. Your job was to actually find what is wrong and what not to do. 
• I think it’s dramatically changed, and I’ve learned so much because of the feedback I’ve got. 
• Consciously learning about what I need to be doing in the role of a CFO is something that I think all of us need to look at.
• The biggest change I’ve seen is this whole thing about partnering with business, being there on the table along with the CEO and driving growth strategy, and driving capital allocation.  
• The basics are bookkeeping, controller job, and things like fundraising. 
• Today, it’s more about being externally focused, talking to investors, and selling the company story rather, and that is a significant shift that I have seen.
• Another area, which I would add here is technology. Understanding and appreciating technology is very important for the CFO. 

[06:25] – What would you say are some of the important qualities a CFO needs to have in today’s environment?

• I think one’s expertise in your own area, which is the finance part.
•  Beyond that, there are a lot of things. The most important is people management: how do you empathize with people, how do you get your people to work for you, and how do you trust and empower them?
• Typically, you tend to be engrossed in your function, and you think your function is the most important, but when you actually get the bigger picture, you understand what is the company’s goal and mission.

[08:09] – Why are CFOs becoming a critical part of the C-Suite?

• The biggest advantage that CFO has is that along with the CEO, he gets an idea of what’s happening around the company.
• That view is something that fortunately a CFO gets much more than anybody else. Every other function tends to be isolated, focusing on its own function.
•  The CFO’s role here is very different because you get the big picture, and that I think is one reason why you would find a lot of CFOs becoming CEOs. 
• Another thing that we do as CFOs because of investor relations is that we are exposed to the outside world much more than others do. 
• Sales and marketing guys reach out to their customers too, but when it comes to important stakeholders like investors, banks, financial institutions, etc., the CFO has that advantage, and therefore you get feedback, particularly from investors and shareholders, which you can pass on to your organization.

RESOURCES:

You can connect with Subbu Subramaniam –  LinkedIn 

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• Subbu is an independent director.
• He is also the former group Chief Financial Officer of Titan Company Limited.