CFO Series: Enhancing Productivity

Overview

The CFO Series provides a convenient, one-stop way for CFOs and those who aspire to be CFOs, to earn an entire year of CPE with a single decision. Each day consists of a subject matter expert leading discussions about four different topics. The CFO Series features high-quality presentations and an interactive, executive level colleague-to-colleague approach with case studies, group discussions, and team exercises. 

Each topic and each day stand on its own. If you are not sure about making a multi-day commitment, sign up for just a single day. We think you will come back for more! 

This four-topic presentation spotlights varied methods to enhance productivity, focusing on proven risk reduction strategies, ERM and insurance management. We also take an in-depth look at the true cost of quality and why quality matters. The focus is straightforward: Understanding risk and getting the most return from risk reduction with verified approaches to increase profitability, thus improving the health of the organization.

Highlights

Quality is Free – But How do We Measure the Cost? 
2 Finance credits 

• Customers demand quality. We expect quality in what we do and in what we consume. In 1985, Philip Crosby told us that quality is free. We will examine Crosby's statement and look at the four aspects of the cost of quality – prevention, appraisal, internal failure, and external failure. What are the true costs associated with each of these elements? How do we determine the way in which each aspect can be measured? We will test the adage that an ounce of prevention is worth a pound of cure to see if this 16:1 relationship holds true. Quality matters, and we need to know how to evaluate the true cost of quality and the value. 

Understanding and Mitigating External and Internal Risks: How? 
2 Auditing credits 

• Risk is everywhere, but which risks matter? In the dynamic landscape of modern business, the role of a Chief Financial Officer (CFO) extends far beyond financial management. It encompasses navigating an array of external and internal risks that can impact organizational performance and sustainability. This seminar will empower professionals with the foresight and practical tools needed to understand, anticipate, and mitigate both external and internal risks. We must be aware and anticipate. If we do not adequately prepare, the organization will be exposed to avoidable and onerous risk. This course is essential for leaders and organizations that want to survive and thrive. 

Insurance – How to Manage Your Insurance Program 
2 Finance credits 

• At its core, insurance is risk management. What insurance does the organization need? What types? What limits should we buy? How large a deductible should we accept? What is the difference between a deductible and a self-insured retention? What do I need to know about insurance contracts? What should I expect of my insurance broker? What coverage is available and what do I need to buy? This is specifically designed for any leader responsible for insurance and risk. The insurance function is critical to the ongoing viability of an organization. We will review a practical approach to managing insurance. 

Effective Implementation of Enterprise Risk Management 
1 Auditing credit and 1 Management Services credit 

• Many have tried to implement ERM, and many have failed. This seminar will provide a route map of how to implement an effective ERM program without disrupting the organization by building ERM practices into everyday management and planning. 

Prerequisites

• Preferred exposure to product and process quality issues.
• At least six (6) months of professional financial statement analysis experience.
• General understanding of risk and insurance

Designed For

Managers who want to develop a thoughtful approach towards risk and a method to optimize a practical strategy towards managing risk; corporate financial leaders, financial managers, CEOs, CFOs, controllers, accountants, board members, advisors, and consultants; CPAs in public practice and CPAs in industry; business owners, entrepreneurs, and professionals interested in managing risk and understanding the value of quality.

Objectives

• Understanding the process to determine the cost of quality within your organization. Why does quality matter? Why is quality so valuable?
• To have a better understanding of the various external and internal risks present today and expected tomorrow - and to understand methods to mitigate risk
• Review insurance law and discuss issues regarding the selection of insurance policies. What is valuable to know about insurance exceptions and exclusions?
• How to successfully implement ERM and integrate it into everyday business practice

Preparation

None

Notice

This seminar includes case studies for group discussion.