The disruption caused by the coronavirus and all the economic and political upheaval since then taught Kevin Cooper, chief financial officer at Atlanta-based fintech company Momnt, an important lesson: Finance executives are key to organizational agility.
“You can't predict every disruption, but you can quickly pivot your business,” he tells CFO Leadership. “This requires a deep understanding of the financial picture and how each function contributes to performance and resiliency.”
The role of the CFO is changing from just a financial controller to a strategic partner in shaping the direction of the business. How have you personally embraced this change, and what advice would you offer to colleagues looking to expand their impact across their organizations?
One area where I've seen this firsthand is in our sales organization. Sales and finance must function as an integrated commercial engine. By building a strong partnership based on mutual respect, where Finance brings data-driven insights and Sales brings front-line customer knowledge, we were able to drive aligned strategic growth.
My advice to my colleagues is simple. Understand your business from the inside out and encourage your team members to do the same. When finance professionals take the time to learn how revenue is generated, how operations serve customers, and how products and engineering shape the future of a company, their impact increases significantly. This level of understanding leads to better decisions and outcomes for the entire organization.
Innovation is essential in today's volatile environment, and so is risk management. How do you personally approach this balance when evaluating new investment opportunities and financial strategies?
It sounds like a cliché, but balancing innovation and risk management starts with a thoughtful assessment of understanding risks and weighing them against opportunities, rather than avoiding them. Although we cannot predict all possible outcomes, we can assess the likelihood and magnitude of potential downsides. The key is to determine whether the risks are manageable compared to the opportunities.
Our team has led Monnt through a period of high growth in the consumer finance sector and into a more mature stage, so we have seen firsthand how risk changes throughout the business cycle. We encounter risks across different parts of our business, but rather than being paralyzed by uncertainty, we strive to quantify risk and move forward accordingly. Understanding potential risks allows you to make impactful yet responsible decisions.
What are the unique qualities required of a CFO in the startup space? How does this role differ from that of a CFO in a more established, larger organization?
From my experience in mid-sized organizations, large accounting firms, and now in startup environments, it is clear that the CFO role in early-stage companies requires a unique blend of adaptability, strategic breadth, and hands-on leadership. Unlike larger, more established organizations where CFOs operate within clearly defined financial boundaries and often rely on fully structured teams, growth-stage CFOs must thrive in ambiguity and wear multiple hats on a daily basis.
In the growth stage, you are more than just a financial manager. You are also a strategic partner in operations, legal, human resources, and more. There is no playbook and often no dedicated team to rely on. For example, I have been leading internal legal efforts, a function that goes well beyond the scope of a traditional CFO role. You must constantly fill gaps, solve problems in real time, and build infrastructure from scratch.
This environment requires a different kind of leadership that embraces uncertainty, moves quickly, and sees every challenge as an opportunity to gain deeper insight into how the entire business operates. An environment where CFOs can overcome ambiguity. It's important to turn uncertainty into insight and use challenges to strengthen your business.
Looking back at the economic changes of the past few years, what are the key takeaways that have reshaped your leadership as a CFO, and what should others in the industry keep in mind as they prepare for what's next?
One of the most important lessons I've learned over the past few years is that real-time financial transparency is essential. As CFOs, our most basic responsibility is to always understand the company's financial health, starting with something as simple but important as the cash position.
What has become clear through events like COVID-19 and the rapidly changing interest rate environment is that agility is just as important as accuracy. You can't predict all disruptions, but you can prepare your business to pivot quickly. This requires a deep understanding of the financial picture and how each function contributes to performance and resiliency.
For me, it's not about predicting the future, but about building a foundation that allows me to confidently adapt. The future always involves uncertainty. Our job is to ensure your business remains ready for action, no matter what the future holds.
