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Wayne Banks

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Wayne Banks

Director Advisory CFO

AustraliaVerified Community Ambassador

Identified Expertise

Culture & Values16
Disruptive & Emerging Technologies12
Personal Development11
Finance11
Financial Management10

Engagement Stats

63
Answers Written

22.3K
Profile Views

44
Upvotes Received

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Do you trust the data & reports from the big analysts?

Strategy & Architecture

Yes

No

Sometimes

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111.2k views126 Upvotes59 Comments

What percent of your IT leadership is women?

People & Leadership

<5

5-9

10-14

15-20

20+

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10k views7 Upvotes6 Comments

Have blockchain projects meaningfully impacted your revenue or cost?

Yes

No

Too early to tell

Haven't invested

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8.4k views6 Upvotes2 Comments

Thinking about your organization as a whole, what would you say are its top business objectives for the next two years?

Strategy & Architecture

Growth / market share

Digital business / digital transformation

Profit improvement

Innovation / new products

Customer focus

Corporate M&A

Technology Improvements

Cost Optimization

Operations improvement

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7.5k views4 Upvotes

How often do you go to VC portfolio presentations?

People & Leadership Disruptive & Emerging Technologies Culture & Values

Once a year

Twice a year

Every quarter

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6.9k views2 Upvotes2 Comments

How much of your organizations budget goes towards new technology?

Strategy & Architecture Financial Management

<1-2%

3-5%

>5%

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10.9k views7 Upvotes5 Comments

What do you do with unsolicited vendor gifts?

People & Leadership Financial Management Vendor Management

Keep it

I never accept them

Donate it

Depends on the dollar amount

Other (leave a comment)

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23.7k views10 Upvotes35 Comments

How useful is your LinkedIn feed to you as a professional?

Productivity Tools

Very useful

Useful

Not very useful

Other (write a comment)

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6.6k views1 Upvote7 Comments

What is your favorite browser?

Applications & Platforms Productivity Tools

Google Chrome

Mozilla Firefox

Safari

IE (Edge)

Other (write a comment)

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10.7k views7 Upvotes33 Comments

In this gig economy we live in, which is growing rapidly, how many of you have used talent agencies, for specialized professionals on an as needed basis, to ramp up quickly and get a project done?

Talent Management & Performance Financial Management

Yes, we use external talent agencies often

Yes, we use external talent agencies rarely

No, we only leverage internal staff

Not sure, I see people come and go not sure if they are internal staff or external talent

View Results

15.7k views4 Upvotes4 Comments

How do people set goals? What is the process for prioritizing? Is it better to keep them small and achievable and / or a BHAG ( Big Hairy Audacious Goals)?

Peer Insights People & Leadership

Wayne BanksDirector Advisory CFO in Finance (non-banking)a year ago

Do you set professional and personal goals the same way ?

1

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130 views2 Upvotes2 Comments

Should the CFO role have a title change to CVO (V for Value)? To signify the much broader role of what a CFO is now (and not like a COO). The shareholder/organizational value creation is what the role has evolved into (adding in items like ESG etc.)

Wayne BanksDirector Advisory CFO in Finance (non-banking)a year ago

It has become imperative that organizations must comply with ESG regulations and CFO has very important role to play.

But it doesn't entail change in the title to create confusion to the role. CFO is what the primary ...read more

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123 views3 Comments

What is the strategic role that the CFO team plays across the business, and what value do you see the function adding?

Wayne BanksDirector Advisory CFO in Finance (non-banking)a year ago

The Chief Financial Officer (CFO) team plays a critical strategic role within an organization. Here are some key aspects of the strategic role and value addition by CFO Team:

Financial Planning and Analysis: The CFO ...read more

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121 views2 Upvotes4 Comments

Is the LIV and PGA golf story (break away , big $s , back room deals then seemingly out of the blue - merger ) just like the corporate world?

Cloud Disruptive & Emerging Technologies Management Tools+2 more

Wayne BanksDirector Advisory CFO in Finance (non-banking)8 months ago

Aren't those orgs corporations at heart? Why would there be a difference?

6.8k views1 Upvote1 Comment

How does your organization measure customer lifecycle value? What are some KPIs that can be used?

Process Management Cloud End-User Services & Collaboration

Wayne BanksDirector Advisory CFO in Finance (non-banking)a year ago

https://www.linkedin.com/pulse/customer-lifecycle-value-what-wayne-banks

1

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444 views1 Upvote2 Comments

How do people set goals? What is the process for prioritizing? Is it better to keep them small and achievable and / or a BHAG ( Big Hairy Audacious Goals)?

Peer Insights People & Leadership

Wayne BanksDirector Advisory CFO in Finance (non-banking)a year ago

Do you set professional and personal goals the same way ?

1

Read More Comments

130 views2 Upvotes2 Comments

How do you recover (mentally and physically) after returning from a conference or work travel? Do you set aside time to catch-up before you even first leave home? What advice do you have to make sure I am bringing all that I learned back?

Wayne BanksDirector Advisory CFO in Finance (non-banking)a year ago

In terms of bringing back your knowledge I consider all of the sessions and speeches through the lens of my organization. Is this relevant, is this something I can use or just anecdotal given our maturity level in the topic?

I ...read more

2

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20.1k views6 Upvotes11 Comments

Have you updated the responsibilities or design of any finance roles on your team since the explosion of GenAI?

Generative AI Finance

Wayne BanksDirector Advisory CFO in Finance (non-banking)a year ago

With the CFOs that i chat with I have not seen much do this occurring. Some for basic AI and the tasks but not for real generative AI

2

127 views1 Upvote1 Comment

Has anyone experienced a customer requesting the business to process purchase orders in the customer's system? How have these requests been handled? What controls have been put in place to mitigate the risks?

Wayne BanksDirector Advisory CFO in Finance (non-banking)a year ago

Yes. This trend is becoming more and more common. I know from
personal experience that the SAP Ariba procurement platform has this functionality. And large companies like global mining company BHP mandate it.

2

147 views2 Upvotes1 Comment

When others were building out your team, what were the top 2-3 positions that needed to be filled the quickest? The strategy will take time, but if the CFO were to ask what a skeleton org chart would look like, where would you start?

IT Strategy & Roadmap Team & Organizational Design

Wayne BanksDirector Advisory CFO in Finance (non-banking)a year ago

I have been in large and small / start up as CFO and the 2 key roles are Financial Controller and Head of planning / forecasting.

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296 views1 Upvote3 Comments

What’s is the most important thing when working in cloud finance?

Wayne BanksDirector Advisory CFO in Finance (non-banking)a year ago

Start with “clean data”
Move as many processes to the cloud providers standard.
Build a strategic roadmap to get all the benefits of cloud accounting platform overtime ( don’t try and do all at once, but plan to maximise ...read more

181 views1 Upvote1 Comment

What are the fundamental leadership capabilities that are needed for an era of exponential technology and AI innovation?

Disruptive & Emerging Technologies Culture & Values Mentoring & Coaching+3 more

Wayne BanksDirector Advisory CFO in Finance (non-banking)a year ago

I think Alivin Toffler said it best: "The illiterate of the 21st century will not be those who cannot read and write, but those who cannot learn, unlearn and relearn."

The most important attribute, then, is ...read more

31 3 Replies

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193.8k views172 Upvotes152 Comments

Should a CFO ever report to a COO?

Internal CXO Relationships Team & Organizational Design

Wayne BanksDirector Advisory CFO in Finance (non-banking)a year ago

No I don't agree. Both are extremely important roles to steer the organization and achieve organizational success. So both should be independent roles and report always to MD/Chairman of the company.

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94 views3 Comments

Can a CFO influence company culture? How?

People & Leadership Peer Insights Internal CXO Relationships+1 more

Wayne BanksDirector Advisory CFO in Finance (non-banking)a year ago

Absolutely YES
Lead by Example
Align Financial decisions with company values
Communicate Communicate Communicate.
Assist others to learn about the numbers.
Cross department collaboration ( try xp&a) ...read more

1

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67 views6 Upvotes2 Comments

What are the main 10 features requested in a GRC platform?

Management Tools Governance, Risk & Compliance Regulatory Compliance+2 more

Wayne BanksDirector Advisory CFO in Finance (non-banking)a year ago

A GRC (Governance, Risk, and Compliance) platform typically offers a wide range of features to help organizations manage their governance, risk, and compliance activities effectively. Here are ten commonly found features ...read more

3

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4.6k views3 Comments