McKinsey Quarterly is rolling out a helpful series of collections from their archive – like this one on What CFOs do. One thing to add to the list is to get themselves clued up on how to do rigorous strategy analysis. There are rarely any other professionals around to do it [unless that new creature the Chief Strategy Officer happens to have sprung onto the stage], and the CFO at least has the cross-business perspective to make all the necessary connections.
The CFO also has access to channels for communicating the value of strategic initiatives that don’t pay back in the next financial year – which our finance friends keep telling us investors value.