The CFO Playbook
CFO as critical innovator: Our conversation with Mark Freedman
CFOs are typically seen as bastions of a company’s budget, compliance, and reporting. But, from our conversation with Mark Freedman on The CFO Playbook podcast, we’ve learned that the role now demands much more: fearless innovation.
Today, risk-averse safeguarding isn’t enough. CFOs who drive change and leverage data can help their businesses navigate monumental technological shifts, anticipate future market trends, and tap into their growth potential.
Freedman, with over three decades of experience, shares how he’s helped some of the world’s most influential financial institutions through crises and transformations
He’s seen the financial services industry become more cautious after the 9/11 attacks, more resilient after the global financial crisis, more aware of major cyberattacks risks, and – very recently – he’s seen it become more adaptable after the COVID-19 pandemic.
Freedman was instrumental in helping companies like Deutsche Bank, London Stock Exchange Group, and Travelex navigate those major transitions. “Living through the 2008 financial crisis and the cyberattack at Travelex taught me that a CFO’s role isn’t just about managing the numbers; it’s about leading through uncertainty and finding a path forward,” he says.
How did he do it? By developing a deep business understanding, communicating insights effectively, and staying updated on technology.
Three themes we explored
In The CFO Playbook episode with Mark, we explored:
- How to lead a finance transformation at major financial institution: Introducing a fully integrated financial system at the London Stock Exchange Group was a major achievement that required Freedman to lean on his technical and leadership skills. “Technology is a game-changer for finance. You need to understand how it works and how to leverage it, but you also have to be prepared for when things go wrong and have a plan to navigate those situations,” Freedman says.
- How the challenges of working in private and public financial services companies differs from each other: Freedman says the differences come down to reporting requirements, decision-making agility, and the broader impact on the CFO role. “In a private company, there’s more room for nimble decision-making and experimentation, but you still need the rigor and discipline that comes from the structured environment of a public company.”
- How the role of CFO has evolved: It’s shifted from a focus solely on financial integrity and historical reporting to being a central part of shaping business strategy. “The finance role has evolved from a backward-looking scorekeeping function to one where CFOs are actively involved in strategic decision-making, challenging the business through data rather than gut instinct.”
- 05:07 – Career reflections and growth – Apple Podcasts | Spotify | Amazon Music | YouTube
- 09:03 – Career progression – Apple Podcasts | Spotify | Amazon Music | YouTube
- 15:04 – Era of financial innovation – Apple Podcasts | Spotify | Amazon Music | YouTube
- 22:52 – Innovating through turbulent times – Apple Podcasts | Spotify | Amazon Music | YouTube
- 34:25 – Future of travel money changes – Apple Podcasts | Spotify | Amazon Music | YouTube
- 42:24 – Evolution of the CFO role – Apple Podcasts | Spotify | Amazon Music | YouTube
Whether you’re navigating your first leadership role or preparing to step into the CFO seat, this episode offers valuable lessons on leading through change and driving strategic success.
Pressed for time?
From mastering the art of finance transformation to navigating the delicate balance between innovation and risk, this episode is packed with insights that every aspiring CFO needs to hear.
To skip to the most relevant sections of the conversation, use the timestamps below:
Hear from one of the industry’s most seasoned professionals.
Tune in to listen to Mark Freedman’s story and get the insights you need to take your career to the next level.
