MOST Analysis

Mission Statement

The first workshop in this program is designed to create an understanding of the model and make sure the underlying corporate infrastructure is ready to support the Financial Leadership Model. We will achieve this by first working to understand the model. After we have completed an overview of the model, we will work on the four competencies of the model. Next, we will review the four leadership traits. We will review existing business processes and elements of the finance team. This will help us to identify potential issues and help set expectations for the team. Finally, we will review the participants in future workshops, discuss the time commitment and availability of the team participants.

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Objectives

01. Understand the financial competency and leadership model.
02. Understand the difference between competencies and leadership traits.
03. Build matrix of competency and leadership expectations specific to the organizational structure and complexity.
04. Review existing business processes related to recruitment, talent evaluation and employee development.
05. Analyze and develop a plan to integrate the model into existing business processes.
06. Calibrate current performance of finance team. (Current)
07. Identify and analyze key personnel and any existing issues. (History)
08. Identify and calibrate expectations on future outlook of the finance team. (Future Outlook)
09. Analyze and determine who should participate in future sessions.
10. Estimate the time commitment for implementation of the process.

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Strategies

01. Each participant is to set aside time to study the elements of the workshop content.
02. Participants to set aside time to meet as a team to discuss the competencies and leadership traits.
03. List and group financial team roles. Assign performance criteria for each competency and leadership for each group.
04. Analyze existing business processes related to recruitment, development, and performance evaluation. Determine where integration with the competency and leadership model is necessary.
05. Develop an integration plan including resolving any differences in terminology and expectations for future modules.
06. Participants should meet to discuss the overall performance of the finance team. The team should review each of the competencies and evaluate if this is a strength or weakness in the current organization. The team should also review the financial leadership’s performance against the leadership traits.
07. List key personnel and any existing issues with the current team as it relates to the financial competency and leadership model.
08. Participants should meet to discuss future expectations of the finance team’s performance. These expectations will be used in modules 6 and 11.
09. List the key personnel that will participate in each of the modules.
10. Determine the estimated time commitment for the participants for each module and analyze the current workload to determine feasibility.

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Tasks

01. Read through the entire workshop and make notes.
02. Schedule a meeting for the participants to meet and discuss the model within 30 days.
03. Set a deadline within the next 30 days to create a matrix of competency expectations and job level and leadership expectations and job level.
04. Schedule a meeting within the next 30 days for key stakeholders to review existing business processes.
05. Set a deadline in the next 30 days for developing a plan to integrate the financial competency and leadership model into business, including expectations for future modules.
06. Schedule a meeting in the next 30 days to discuss the current performance of the finance team as it relates to the financial competency and leadership model.
07. Set a deadline within the next 30 days to review key personnel and existing issues.
08. Schedule a meeting within the next 30 days to discuss the future expectations of the finance team’s performance.
09. Set a deadline within the next 30 days to create a list of participants for each of the modules.
10. Set a deadline for determining and analyzing the time commitment for each of the participants.

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Introduction

Introduction to Financial Leadership

The primary goal of this workshop will be to lay the foundation for implementation of the Financial Leadership Model, review existing corporate infrastructure and plan for participation in future workshops. This workshop should lay the groundwork for future workshops. This workshop will focus internally on the organization and will require participants to engage in open and honest dialogue regarding the performance of the finance function of the company.

There is some preparation work that all participants should complete prior to starting the workshop. The preparation work is detailed in the Preliminary Analysis section. Participants should also read through the Distance Learning section to make sure they establish the proper learning environment. The Tutorial Support section will also provide instructions and details on how to seek support.

Financial Leadership vs Organizational Leadership
It is important to differentiate between financial leadership and organizational leadership. This program will develop the financial leadership skills for the finance team. Organizational leadership is very familiar to all of us. This is the role of the President or CEO of the company. There are many books written on the subject. Organizational leadership is leadership that is necessary to lead the entire organization, to balance the needs of internal and external stakeholders and many other things we see CEOs do.

Financial Leadership is different. The financial leader is not the face of the company and does not have the formal authority of the CEO. Financial leaders need to have the be able to use influence to affect change in an organization. While financial leaders have formal authority, the successful leaders are able to influence others. The ability to use influence to affect change is the key to financial leadership. The Financial Leadership Model will help financial leaders build these skills and the team necessary to build their ability to influence the organization.

Financial Leadership Model
The Financial Leadership Model has two critical components. First, there are competencies that all members of the finance team should have. These skills are necessary for the financial leader to develop on the team in order for their leadership to be effective. The second component is the leadership traits that are necessary for financial leaders to unlock true financial leadership in their organization. These skills will allow the financial leader to adapt to different situations in the business and to become a valued counsel and advocate for the business.

The workshop will introduce the different module components and develop competency matrices for both the Financial Competencies and Leadership Traits. During the workshop we will establish performance criteria for each of the competencies and traits. We will further establish performance criteria for different levels in the organization.

The matrices are a key output for this workshop. The matrices will be further refined and validated as the program progresses. It is important that workshop participants are prepared to discuss current performance of the finance team and expectations based on the model.

Financial Competencies
Successful leaders need to build successful teams. There are four financial competencies that team members need to demonstrate. The more senior the role in the organization, the more skill that is required in each of these competencies. Catalyst, the first competency is the ability to see what and how things need to be done to meet the company goals is the first of these competencies. The second is Reporting or the communicating on the activities of the company while preserving assets with control. Balance, the third competency is the ability to balance different activities and requirements to fulfill the needs of the customer. The final competency is The Curve. This is the ability to use the company objectives to navigate uncertainty.

It is important to have employees with sufficient levels of the competencies for their role in the organization. When employees do not have the sufficient level of these competencies it will create problems with the team’s performance and will be a distraction for the financial leaders of the company.

Leadership Traits
Successful financial leaders have the ability to utilize different skills depending on the situation. The Financial Leadership Model will introduce four key leadership traits that all financial leaders need to be able to utilize. The ability to adapt to different situations are key to long term success.

The first of these traits is Servant Leadership, the ability to demonstrate care about the wellbeing of employees and the ability to communicate in an honest and transparent manner. The second leadership trait is Connector, the ability to connect people, processes, and events to enable execution of strategy. Challenger or the willingness to have tough conversations and challenge the status quo is the third trait in the model. The final trait is Business Advocate, results driven leadership that drives accountability, numerates strategic goals and measure performance of business strategies.

In this workshop we will focus on defining the leadership traits and the level of mastery for different levels in the organization. In later workshops we will discuss more about each individual trait and how the different traits work together. The traits are not different buckets to jump from one to another, rather they are linked and should be thought of as how much of each ingredient is necessary in a given situation.

Data Gathering
During the workshop we will be reviewing several existing internal processes and the individuals that make up the finance team. It is important to gather the data discussed in the Preliminary Analysis so the workshop can work with complete data. Please refer to this section on the specifics and recommendations for gathering data for the workshop. It will be helpful for the participants to share in the data and to have a method for shared access.

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Participant Considerations

Participant Preparation
The workshop is designed to start with the model and begin the process of understanding the model prior to implementation. It is recommended that all participants review the Study Guide, Tutorial Support and Preliminary Analysis prior to the start of the workshop. The Study Guide help each participant prepare for the program and will provide tips to help your success. The Tutorial Support section will provide show you how to request support during the program. The Preliminary Analysis will discuss things the participants should do to prepare prior to the workshop.

The preparation discussed in the Preliminary Analysis does not involve any research. However, the participants should spend time preparing for the Workshop. As discussed in the Preliminary Analysis, participants should spend time gathering the data required, reviewing key internal processes and spending time reflecting on the current performance of the team.
The participants should also spend time reflecting on their own performance as leaders. During the workshop, participants will be discussing the performance of the team. It is important for participants to prepare themselves for this activity by preparing themselves to give and receive feedback. It is important to keep focused on the feedback is meant to improve the performance of the finance team. It is critical that participants ask questions and challenge assumptions during the process.

Guidelines on Feedback
As participants prepare for the workshop, they should keep in mind the three guidelines on feedback that are discussed in the Preliminary Analysis. There is a human element of feedback that needs to be acknowledged. Feedback can be as difficult to give as to received, and participants in the program should remember that it may be as uncomfortable for the person providing the feedback as it is to receive.

It is recommended to establish three ground rules. First, focus on outcomes and not intent or character of the individual. If you present the feedback based on the outcome obtained, the focus will be on the results and not on the person. This is easily done with statements that are structured based on observations, results or facts followed by the perceived consequence. For example, when you come to the meeting late, Tom, it makes me feel that you do not respect my time. In this example, there is