Matthew GriffinFounder, President and Futurist, 311 Institute
G7 · G20governments advised
850+keynotes
102countries
17codexes
Finance and banking sessions forAfricaONEShawbrook BankStandard Chartered BankThe Institute of Internal AuditorsWolters KluwerCrown Prince Court
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Sarmad, CEO of Corporate World Intelligence, invited Matthew to give the keynote at this year's CFO Summit, which because of the pandemic was held virtually.
Matthew began with the turbulence of the previous 18 months, a once in a generation event that wrecked some companies' fortunes and made others. Traditional industries such as hospitality, logistics, manufacturing, retail and transportation were turned on their heads, while energy, entertainment, finance, insurance and healthcare were supercharged. For CFOs, that brought opportunity and disruption, but also headaches and long nights.
"This once in a generation event has both wrecked companies' fortunes as well as made them, and from the CFO's perspective it brings both opportunity and disruption."Matthew Griffin, Virtual, June 2021
Even before the pandemic, CFOs were juggling a growing range of expectations, from safeguarding liquidity and financial reporting to keeping on top of compliance, ESG and new risks.
In the keynote Matthew set out the options CFOs have today to help their businesses thrive and find new purpose. He highlighted a number of ESG trends and risks, then explored the impact new technologies will have on businesses and their business models, and the role the CFO must play in shaping that future.
311 Intelligence
What this means for your leadership team
Disruption now reaches the balance sheet.
The pandemic hit some sectors hard and lifted others. Finance chiefs saw both sides at once. Outbreak risk is on the 311 trend list with an Act now rating, so it belongs in planning, not in the past.
ESG risk is becoming financial risk.
CFOs already manage liquidity, reporting and compliance, with ESG added on top. Investors and standard setters are starting to treat nature loss as a balance-sheet risk. 311 rates it Prepare, with wide use by 2030.
Technology will reshape the business model.
The keynote asked CFOs to look at how new technologies change business models. Exponential technologies keep reshaping the economy. Industry collapse is a Prepare item for 2030, as investment shifts to new sectors. The CFO should lead that review.
Three questions for your next leadership meeting
Which of our revenue lines depend on an industry under pressure?
Where does nature loss already sit in our risk reporting?
Who owns the review of how technology changes our model?
The trends and technologies behind this session
From the 311 Starburst, the 311 Strategic Intelligence Unit’s map of the technologies and trends shaping the next 50 years.
What does the Future CFO session mean for organisations?
It says the finance role is widening. CFOs must handle sudden disruption, ESG risk and the effect of new technology on business models. Organisations that treat these as one agenda will be better placed than those that handle them in separate silos.
How do epidemics and pandemics relate to the CFO role?
The previous 18 months showed how fast an outbreak can wreck some companies and lift others. 311 rates this trend Act now, with wide use dated 2020. Finance teams should keep scenarios for outbreak shocks in their planning.
How does nature loss relate to the CFO agenda?
The keynote highlighted ESG trends and risks. Nature loss is one 311 tracks, as investors and standard setters begin to treat it as a balance-sheet risk. 311 rates it Prepare, with wide use by 2030.
How can 311 brief our leadership team on this?
Through a private executive briefing or leadership workshop, tailored to your sector, in person first.
Bring this to your leadership teamA private executive briefing or leadership workshop, tailored to your sector. In person first, anywhere in the world.
Analysis by the 311 Strategic Intelligence Unit, from Matthew Griffin’s session and 311 data.
If Matthew gave this session today
Whole industries could soon be disrupted in a day.
311 Institute's Future of Exponential Disruption codex explores the forces accelerating global disruption and how close we are to disrupting whole industries in a day, the pressure CFOs now have to plan for.
