The Road to CFO is Paved with Personal Values

MBA candidates eyeing new careers should look for a company they believe in, said Michael Mack, CFO and senior vice president at Deere & Company. “Look for a match between what you perceive to be the values of the company and what your own personal values are,” Mack told students during the Road to CFO Conference hosted by the student-led Financial Analysis & Treasury Group at the Hyde Park Center October 6. “That is what will generate your passion and that will work very well for you over time.”

Because he never wanted to become a CFO, Mack said, he rejects the notion there is an identifiable path to getting the job. At a recent meeting of CFOs, each came from a wide variety of financial backgrounds, companies, industries, and years of experience, he said. “I would not recommend setting a goal on a specific position such as CFO,” Mack said. “I think it’s more realistic to have a generalized idea that you want to be an important player in your company and help shape it. There are lots of great jobs, either in or outside finance, where you can put your skills to great use.”

At Deere, Mack splits his job among nine different duties, including mergers and acquisitions, accounting, investor relations, treasury, supply management, internal audit, pensions, and taxes, he said. His top responsibility is to be the strategic advisor to the CEO. “You can be the objective advisor without an agenda,” Mack said. “That gives you an opportunity to provide this critical analysis that perhaps other people can’t. The boss expects the CFO to have this particular critical eye.”

Among the traits critical to CFOs are flexibility, business knowledge from a variety of perspectives, quantitative skills, knowledge of Wall Street, knowledge of global economics and various cultures, and communication skills. “Communication skills are very, very important,” he said. “I spend a lot of time communicating with people both internally and externally. It’s the nature of the job.”

To find the path to career success Mack advised students to remain flexible about opportunities, continuously learn, maintain a passionate desire to contribute, and don’t be afraid of serendipity. “Sometimes the best stuff that happens to you isn’t the stuff that you plan,” he said.

—Phil Rockrohr