Now that the recession can be seen in a rearview mirror, Chris Ballinger, CFO and group vice president of Financial Management Sciences and Global Treasury, Toyota Financial Services (TFS), finds he is taking on a new role at the automotive lender–Chief Value Officer. Okay, so there is no such C-level title–as yet–but Ballinger says it reflects the shift in his responsibilities now that TFS is back in both a growth and spending mode.
Treasury & Risk asked Ballinger to elaborate.
T&R: So how has the role of CFO changed for you since the recession ended? Ballinger: During the recession, many CFOs hunkered down to conserve capital and pare expenses, causing growth to take a back seat. The CFO was looked upon as the person responsible for finance efficiency, transaction processing and accounting. This continues but the responsibilities have enlarged. I see my role now more in terms of performance management as the Chief Value Officer.
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