Susan Cosgrove, DTCC Managing Director and Chief Financial Officer
Managing high levels of uncertainty created by the COVID-19 pandemic will dominate the agenda of CFOs in the coming year as we look to balance the short-term needs of addressing shifting markets with a long-term focus on business strategy.
The uncertainty surrounding the global markets in 2021 means organizations must plan multiple scenarios for revenue and investment so they can pivot quickly depending on external dynamics. During this period of heightened uncertainty, CFOs must be sure to monitor the broadest range of issues, including liquidity, market value changes and economic fundamentals, such as earnings forecasts, interest rates and central bank actions, to ensure they have the proper risk management and financial levers in place.
Additionally, while management will likely have sharp focus on current priorities during a crisis, CFOs must take steps to ensure that the longer-term view is not lost and the organization maintains a culture of growth and innovation. As the pandemic hopefully subsidies in 2021, firms must have a robust pipeline of initiatives that create greater value for clients and solve new business challenges.