Coworking is a weekly segment where we talk to CFOs and others in the finance space about their experiences, their companies, and the larger economy. Let us know if you are—or you know—a CFO we should interview.
Karla Smith is the chief financial officer of Ogilvy UK, an advertising and marketing firm that works to consult other businesses on how to best market and display their product offerings.
This interview has been lightly edited for length and clarity
How would you describe your job to someone who doesn’t work in finance?
My role is to make sure the commercial impact of all decisions—from how we price to whether we give free breakfasts to staff—is front of mind when our leaders are making those choices. Enabling leaders to make conscious investment decisions that support growth and guiding them, but not controlling them, on the financial impact that might have.
How do you think the CFO role has changed over the past five to 10 years, both for you, and in general?
CFOs are business leaders. I guess I have always seen the role that way, but I think that has become more accepted over the last five years. The CFO adds insight and is a trusted advisor to the board, focusing on the future position. It’s not a role that is stuck in reporting and analyzing past performance, which is maybe how some viewed it before. The CFO can play a large part in business transformation, from systems and solutions through to evaluating new offerings. With a growing focus on sustainability and DE&I, the CFO also has a critical role to play here, driving the company strategy through all of the areas which the CFO has influence over, from supplier relationships to hiring and reward.
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What’s something we can’t guess about your job from your Linkedin profile?
How much fun it is! I fell into the marketing sector fresh out of qualifying as an auditor in practice. I thought I’d stay a few years and learn about advertising before I moved on to a different sector. Two decades later, and I’m still here, loving the industry, the people, the work. My respect for marketeers as problem solvers has hugely grown. Most CFOs see marketing as a hard-to-measure cost drain. I see it as an investment in future sales growth, showcasing brands’ core values to consumers through thoughtful—and at times entertaining—interactions.
What advice do you have for future CFOs?
It’s all about the people. Find the leaders you want to work with who share your values. Your role is to enable the CEO’s vision and strategy and ensure it delivers commercially for your business. That’s only really going to work if you and your CEO are aligned and have clarity and a shared vision. Find an industry that excites you and keeps you on your toes. Also find yourself some roles outside of your business as a trustee or a board member, it’s amazing how much you can learn and develop from putting yourself in a new situation which is outside of your day to day.—KT