Faculty Research: CFO Survey Defines Best Risk Management Skills

DePaul University Ezerski Chair and Accountancy Professor Mark L. Frigo
DePaul University Ezerski Chair and Accountancy Professor Mark L. Frigo
What skills do financial executives need to manage risk successfully in a rapidly changing business environment?

To answer this question, DePaul University Ezerski Chair and Accountancy Professor Mark L. Frigo and Paul L. Walker, Schiro/Zurich Chair in Enterprise Risk Management at St. John’s University, conducted interviews with financial executives from top companies.

“The scope of CFOs’ responsibilities toward enterprise risk management has been expanding,” Frigo says. “We wanted to identify the capabilities that CFOs need to have today, as well as tomorrow, to manage risk and anticipate disruptions before they impact organizations.”

CFOs and other executives from Microsoft, Oracle, Boeing, Dow Chemical, Martin Marietta, Coca-Cola and Pitney Bowes were among the leaders interviewed. Based on these interviews, the researchers identified four things financial executives must be able to do:

  • Proactively recognize the sources of enterprise disruption.
  • Develop insights and an enterprise-wide understanding of their organizations’ risk profiles and capabilities to manage risk.
  • Think and communicate strategically.
  • Create a forward-thinking, strategic finance organization.

Frigo and Walker’s research report, “The Strategic Financial Executive: Managing Enterprise Risk in a Disruptive World,” was sponsored by Grant Thornton and published by the Financial Executives Research Foundation. Click here to read a report summary.


Learn more about DePaul’s MS in Enterprise Risk Management.​​​​