The CFO's near moral duty to take the lead

The role of the CFO: leading through crisis

“The past twenty years seem like one crisis barely ends before the next one begins. I’m thinking, for example, of the banking crisis in 2008, the debt crisis in 2013, or the COVID crisis in 2020. Then came Russia’s invasion of Ukraine, and since the beginning of this year, it feels as if everything is uncertain again — starting with what appears to be the onset of a trade war. For a CFO, that situation is certainly not easy. This person is expected to develop the processes, systems, and internal operations needed to maintain control, but such extreme uncertainty definitely doesn’t make that any easier.”

These are the words of Jean-Philippe Thirion, who has been leading TriFinance & TriHD Belgium together with Alexander Van Caeneghem since early 2025. According to Van Caeneghem, the current crises are symptoms of a deeper, underlying crisis in governance. “There are three major transformations that have a significant impact on the CFO,” he explains. “Sustainability and AI are even existential crises. The governance transformation is the third — and it makes dealing with the first two even more challenging.”

Talent scarcity as the greatest risk

There’s no need to delve deeper into sustainability and AI as major transformations — CFOs are well aware that these are two of the most important strategic priorities their organizations face. This is confirmed by the results of the C-Suite Survey conducted by TriFinance in April 2025. According to the executives surveyed, issues such as cybersecurity, digital disruption, evolving regulations, and geopolitical instability also rank high on their agenda.

Wanted: Neo-generalist

Jean-Philippe adds that the same risks were identified in earlier surveys, but talent scarcity is now ranked number one for the first time — and by a clear margin. It is considered a risk by 66% of the surveyed C-level executives, while cybersecurity and data security, as well as changing regulations, are each highlighted by 60%. All other risks are mentioned by less than half of the respondents.

Moreover, the link with technology is also driving the evolution of finance professionals’ skill sets. Strong numerical skills remain essential, but today’s finance employees must also be closer to the business, able to engage in strategic conversations, and comfortable with technology. Alexander explains: “It’s a subtle shift from ‘T-shaped profiles’ — people with deep expertise in one area and broad knowledge in others — toward ‘neo-generalists,’ who are both specialists and generalists. They see the bigger picture and build bridges across domains and departments.”

‘Robustness’ and chaotic restructuring

Whether it’s the three major transformations or the growing pressure of the talent shortage, many business leaders sense that multiple forces are converging—that something bigger is at play. 

“We call it chaotic restructuring,” says Alexander. “We’re heading toward new forms of collaboration and decision-making—in society, in politics, and within organizations. And that transition is inevitably messy and difficult. To quote Gramsci: ‘The old world is dying, and the new world struggles to be born. Now is the time of monsters.’”

For many CFOs, this may be eye-opening, yet it also raises a number of questions. If we really are in a long and chaotic transitional phase, what can we still hold onto? How can a CFO ensure a solid organization and deliver real impact? 

“Robustness is the answer,” says Jean-Philippe. “For us, it’s a combination of strength and flexibility. You need to fully commit to your vision—but remain agile enough to realize that vision in different ways.”

Agency, an almost moral obligation to take control

“There is a lot that we have to accept as it is. But at the same time, there is definitely quite a bit we can achieve ourselves,” Alexander says. “The colossal scale at which things are changing—or could change—can be paralyzing. But we must not forget that we have agency and self-determination.”

He calls this ‘agency,’ an almost moral obligation to take control. 

“There’s a nice metaphor of the organization as a body,” he says. “The bones are the organizational structure. You have little impact on those. If they break, they need to heal, and you usually need help with that. The muscles are collaboration and empowerment. You can train muscles yourself, so you can strengthen or move things you seem to have little influence over. The more you practice, the better you get.”

CFOs have a dual role in this regard: they need to take control of their own department and foster collaboration within their teams. At the same time, the CFO must also empower others—by sharing responsibility, giving recognition, and helping people grow..

This article was originally published in Dutch on House of Executives website. TriFinance is partner of House of Executive's CFO Day 2025.