The chief financial officer (CFO) or Chief financial and operating officer (CFOO) is a corporate officer primarily responsible for managing the financial risks of the corporation. This officer is also responsible for financial planning and record-keeping, as well as financial reporting to higher management. In some sectors the CFO is also responsible for analysis of data. The title is equivalent to finance director, a common title in the United Kingdom. The CFO typically reports to the chief executive officer and to the board of directors, and may additionally sit on the board.

Qualification of UFC the H&S function/manager reports to CFO.[link]

Most CFOs of large companies have finance qualifications such as an MBA or come from an accounting background. A finance department would usually contain some accountants with Certified Public Accountant or equivalent status. The Sarbanes–Oxley Act of 2002, enacted in the aftermath of several major U.S. accounting scandals, requires at least one member of a public company's audit committee to be a financial expert.^[1]

Federal government of the United States[link]

The federal government of the United States has incorporated more elements of business-sector practices in its management approaches, including the use of the CFO position (alongside, for example, an increased use of the chief information officer post, within public agencies).

The Chief Financial Officers Act, enacted in 1990, created a chief financial officer in each of 23 federal agencies. This was intended to improve the government's financial management and develop standards of financial performance and disclosure. The Office of Management and Budget (OMB) holds primary responsibility for financial management standardization and improvement. Within OMB, the Deputy Director for Management, a position was established by the CFO Act, is the chief official responsible for financial management.

Chief Fire Officer (CFO) is a designation held buy fire officers throughout the US. This designation is reviewed and granted through the Center of Public Safety Excellence.

The Office of Federal Financial Management (OFFM) is specifically charged with overseeing financial management matters, establishing financial management policies and requirements, and monitoring the establishment and operation of federal financial management systems. OFFM is led by a controller.

The CFO Act also established the CFO Council, chair by the OMB Deputy Director for Management and including the CFOs and Deputy CFOs of 23 federal agencies, the OFFM controller, and the Fiscal Assistant Secretary, the head of the Office of Fiscal Service of the Department of the Treasury. Its mandate is to work collaboratively to improve financial management in the U.S. government and "advise and coordinate the activities of the agencies of its members" in the areas of financial management and accountability.

OMB Circular A-123 (issued 21 December 2004) defines the management responsibilities for internal financial controls in federal agencies and addressed to all federal CFOs, CIOs and Program Managers. The circular is a re-examination of the existing internal control requirements for federal agencies and was initiated in light of the new internal control requirements for publicly-traded companies contained in the Sarbanes–Oxley Act of 2002.

While significant progress in improving federal financial management has been made since the federal government began preparing consolidated financial statements, the Government Accountability Office (GAO) reported that "major impediments continue to prevent [GAO] from rendering an opinion."^[2] In December 2006, the GAO announced that for the 10th consecutive year, the GAO was prevented from expressing an opinion on the consolidated financial statements of the government due to a number of material weaknesses related to financial systems, fundamental recordkeeping, and financial reporting.

At the same time, in calendar year 2007, the CFOC announced that for the second consecutive year, every major federal agency completed its Performance and Accountability Report just 45 days after the end of the fiscal year (2006).

Changing role[link]

In today’s increasingly challenging and volatile macro world, the role of the CFO has evolved significantly. Traditionally being viewed as a financial gatekeeper, the role of the CFO has expanded and evolved to a strategic partner and advisor to the CEO. In fact, in a report released by McKinsey, 88 percent of 164 CFOs surveyed reported that CEOs expect them to be more active participants in shaping the strategy of their organizations. Half of them also indicated that CEOs counted on them to challenge the company’s strategy.^[3]

The uneven pace of recovery worldwide has made it more challenging for many companies. CFOs are increasingly playing a more critical role in shaping their company’s strategies today, especially in light of the highly uncertain macroeconomic environments, where managing financial volatilities is becoming a centerpiece for many company’s strategies, based on a survey held by Clariden Global.^[4]

The duties of a modern CFO now straddle the traditional areas of financial stewardship and the more progressive areas of strategic and business leadership with direct responsibility and oversight of operations (which often includes procurement) expanding exponentially. This significant role-based transformation, which is well underway, is best-evidenced by the “CEO-in-Waiting” status that many CFOs now hold. Additionally, many CFOs have made the realization that an operating environment that values cash, profit margins, and risk mitigation is one that plays to the primary skills and capabilities of a procurement organization, and become increasingly involved (directly via oversight or indirectly through improved collaboration) with the procurement function according to a recent research report that looks at the CFO's relationship with procurement.^[5]

CFOs in Europe[link]

A CFO in Germany is not the same as in Italy. Although the career path of CFOs in one country is quite homogeneous, there are major differences between countries. This already starts at income levels. A CFO in Germany earns potentially 60 times more that a CFO in Poland. ^[6] There are two areas of CFO income in Europe: there are few countries, like France, Germany or UK, where CFOs earn more that 1 million Euro per year; and there are the other countries (Spain, Portugal etc.) where a CFO does not make more than 1 million Euro per year. The reason for this major difference is not the economic development, but the different roles of CFOs in the countries. Although they have the same job title, they do not have the same responsibilities. Ususally the CFO is responsible for financial and administrative areas, but in some countries they have more responsibilities, such as operational duties.^[7]

There are also some differences regarding age. The average age of a CFO in Europe is 50. While the average age of CFOs in Germany is 53, it is 41 in Russia. This could explain the higher income in Germany, as more experienced personnel will have more power and therefore more responsibility, than a younger, inexperienced ones.^[8] Apart from differences, most of the CFOs have one thing in common: their are male natives from the countries they are working in.

See also[link]

• Treasurer
• Auditor general (disambiguation)
• Controller
• Head of Finance

External links[link]

• Decoding the CFO - Varying CFO roles

References[link]

Patrick Pichette is Senior Vice President and Chief Financial Officer of Google Inc..^[1]

He holds a Bachelor in Business Administration from Université du Québec à Montréal (UQAM) (1987) and an MA in Philosophy, Politics and Economics from Pembroke College, Oxford.^[1] He received a Rhodes scholarship.

Before joining Google, he worked at McKinsey & Company and Bell Canada (2001–2008). He is also on the advisory board of Engineers Without Borders (Canada),^[2] having previously served for several years as on the organization's board of directors, many of those as board chair.^[1]

Notes[link]

External links[link]

• [1] (French) – official website of École des sciences de la Gestion
• Uqam ESG information about diploma and career http://www.nouvelles.uqam.ca/index.php?article=650
• Google bio, info about Rhodes scholarship http://www.google.com/corporate/execs.html#pichette

This biography about a Canadian businessperson is a stub. You can help Wikipedia by expanding it. v t e

Mark Steinberg is a sports agent who has been representing top golfers since 1992. He is currently a Partner at Excel Sports Management^[1] where he heads the professional golf division. Established in 2002, Excel Sports Management is a full-service sports management and marketing agency representing top athletes in professional basketball, baseball and golf. On June 6, 2011, Tiger Woods announced he would be going to Excel with Steinberg.^[2] Since that announcement, Steinberg has continued to build his division, including signing three-time PGA Tour winner Matt Kuchar^[3] and Danielle Kang.

Previously, he led the global golf division of the large corporate sports agency IMG. While there, Steinberg shaped the careers of many golfers, including Tiger Woods, Steve Stricker and Annika Sörenstam.^[4] Steinberg has represented Tiger Woods since 1998. As the agent for Tiger Woods, Steinberg has been described as "the de facto chief executive of (Tiger's) golf and endorsement empire" and among the "three or four most powerful people in golf".^[4] Steinberg has described Mr. Woods as "one of my best friends".^[4] Steinberg parted with IMG in May 2011.

Steinberg currently sits on the following boards; Tiger Woods Foundation Board of Governors,^[5] Annika Sörenstam Foundation Board and Cleveland Sports Commission.

Education and background[link]

Steinberg is from Peoria, Illinois and attended University of Illinois^[ambiguous] as an undergraduate where he was a member of the Zeta Beta Tau Fraternity. He earned a spot on the Illinois basketball team as a walk-on and played for Illinois in the Final Four of the NCAA Men's Division I Basketball Championship in 1989. He attended law school at University of Illinois College of Law.^[4]

Career history[link]

While in law school Steinberg interned at IMG and he joined IMG as an employee in 1992. He started out working in team sports and golf. In 1993 he signed the popular golfers Michelle McGann and Karrie Webb.^[6] The following year, he recruited Annika Sörenstam to IMG. Sörenstam won the U.S. Women's Open in 1995 which lifted both Sörenstam and Steinberg into a new level of prominence. In 1998, Tiger Woods retained Steinberg as his agent, at that time Steinberg was just 30 years old.^[4]

Activities as sports agent[link]

As the sports agent for Tiger Woods, Steinberg is involved in many activities relating to his client including advising his client on managing his public image, his schedule and his finances. As his agent Steinberg had negotiated endorsement deals worth "hundreds of millions of dollars".^[4] In November, 2009, when Woods was involved in an early morning car accident at his home in Florida, Steinberg was involved in managing the media access to his client during the ensuing media frenzy.^[4]

References[link]

External links[link]

• IMG World website
• TigerWoods.com
• Interview With The Agent: Mark Steinberg

First State is a project of Sander van Dien and Shane Halcon. First State has released numerous singles, remixes and albums and compilations, most of which gained recognition within the world wide Trance scene. Ralphie B, left the group in 2009 and Shane Halcon joined soon after.

In 2010, the record label First State Music was announced together with First State Deep and First State House. Three new partner labels of Black Hole Recordings. First State Music is owned and managed by Sander van Dien and Shane Halcon.

Discography[link]

Albums[link]

• 2007 Time Frame
• 2010 Changing Lanes

Mix Compilations[link]

• First State's Crossroads Yearmix 2010
• The Whole Nine Yards

Singles/EPs[link]

• "Sacred"
• "First State" [In Trance We Trust]
• "Falling"
• "Rhapsody"
• "Sierra Nevada"
• "Evergreen"
• "Your Own Way"
• "Off The Radar"
• "My Sanctuary"
• "Exeo"
• "Surrounds Me" (Feat. Elliot Johns)
• "Cape Point"
• "Cross The Line" (Feat. Relyk)
• "Mojave"
• "Reverie" (Feat. Sarah Howells)
• "Butterfly Effect"
• "Breathe On Me" (Feat. Elliot Johns)
• "Primate"
• "As You Were"
• "Skies On Fire" (feat. Sarah Howells)
• "Maze" (feat. Tyler Sherritt)
• "Reloaded"
• "Backstage"

Aliases

• "Devoid – Cremona / Arella"
• "Sander van Dien – Terms"
• "Sander van Dien - Aurora"
• "OneWorld - Isla Blanca / Lingus"
• "OneWorld - Green Bay"
• "OneWorld - The One That Got Away"

Co-productions

• "Shane Halcon - North Gate" (Intuition Recordings)
• "Shane Halcon - Solid Ground" (Intuition Recordings)
• "Shane Halcon - Valletta" (Intuition Recordings)
• "Shane Halcon - Must Have Fallen" (feat Tiff Lacey) (First State Music)
• "First State ft Tyler Sherritt - Maze" (Shane Halcon Remix) (Magik Muzik)

Remixes[link]

• 2005 - Solar Stone "Eastern Sea" (First State Remix) (Solaris Recordings)
• 2006 - Midway "Cobra" (First State’s First Aid Remix) (Black Hole Recordings)
• 2007 - Tiësto "Ten Seconds Before Sunrise" (First State Remix) (Black Hole Recordings)
• 2008 - 4 Strings "Catch A Fall" (First State Remix) (Maelstrom Records)
• 2008 - Tiesto "Ten Seconds Before Sunrise" (First State's A Global Taste Remix) (Black Hole Recordings)
• 2008 - Armin van Buuren "Unforgivable" (First State Remix) (Armada Music)
• 2009 - Bobina Feat. Tiff Lacey "Where Did You Go?" (First State Remix) (World Club Music)
• 2009 - Vimana "We Came" (First State Remix) (Black Hole Recordings)
• 2009 - Ton TB "Dream Machine" (First State Remix) (In Trance We Trust (label))
• 2009 - First State feat. Sarah Howells "Brave" (First State's Crossroads Remix) (Magik Muzik)
• 2009 - 3 Drives "Greece 2000" (Sander van Dien Remix) (Massive Drive Recordings)
• 2009 - Jonas Steur Feat. Julie Thompson "Cold Winds" (First State Remix) (Black Hole Recordings)
• 2009 - Mac & Mac "Solid Session" (First State Remix) (Magik Muzik)
• 2009 - Filo & Peri "Ashley" (First State Remix) (Vandit)
• 2009 - Dash Berlin feat. Emma Hewitt "Waiting" (First State Remix) (Aropa Records)
• 2010 - Dash Berlin feat. Solid Sessions "Janeiro" (First State Remix) (Aropa Records)
• 2010 - Tiesto feat. Tegan & Sara "Feel It In My Bones" (First State Remix) (Musical Freedom)
• 2010 - George Acosta feat. Fisher "Love Rain Down" (First State Remix) (SongBird)
• 2010 - Robbie Rivera feat. Lizzy Curious "Departures" (First State Remix) (Black Hole Recordings)
• 2011 - Blake Lewis "Till We See The Sun" (First State Remix) (Black Hole Recordings)
• 2011 - First State feat. Sarah Howells "Reverie" (First State's Pounding Club Mix) (Magik Muzik)
• 2011 - Jason van Wyk & Audien "Someday" (First State Remix) (First State Music)
• 2011 - Jes "It's Too Late" (First State Remix) (Magik Muzik)

External links[link]

• Official Homepage (English)
• Official Twitter
• Myspace
• Official YouTube
• Integrity AM (First State's Booking Management)
• last.fm