There are many virtues, characteristics, and attributes of a CFO but it is ‘Integrity’ which is most important. As CFO’s the purpose and responsibility of our role is to safeguard the interests of stakeholders and shareholders. We are the gatekeepers of processes, the accountability of strategy, and the interrogator of results. Often this requires challenging and honest conversations which generally most of us are capable and experienced enough to manage. But what happens when we can’t manage the direction of the conversation, the questionable request, the disregard of implemented safeguards.
During my career there have been several times where my integrity has been challenged.
I’ve had to question my professional reputation versus the safety of my employment, pressure applied to influence my outcome, manipulation by discrediting my ability and experience, isolation through withdrawal of support.
It is during these times my integrity was most called upon. Where I have questioned the importance of my professional reputation and the value of my employment. Could I have managed it better, of course. We can also handle situations better upon reflection, that is beauty of a growth mindset. In saying that, I have found the following steps/questions to always assist me to guiding my assessment of the situation.
1. Is the outcome compromising the interests of the shareholders and key stakeholders?
2. Is the commitment to the credibility and principals of the profession at questions?
3. Can I look back and be comfortable with the decision/actions I have made?
In addition to the above, I also lean into my trusted network of professional peers for council and support. This is the most important step in the process as verbalising your thinking, being challenged by your trusted peers, helps clarify your position and ultimate decision.
It is never easy navigating a situation which has given rise to an integrity dilemma. And as I mentioned above, I most certainly could have managed the process leading up to the outcome better. Particularly in stimulating more conversations, even if they are going to be confronting. But, at the end of the day, I can comfortably and confidently stand behind the ultimate decision/action I made each time.
Have you had situations that have called your integrity into play? I would love to hear how you navigated the situation and if you are still comfortable with your decision.
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