If CFOs think they can stay around cyber threat protection, they should think again. CFOs and their teams are often the first to detect many types of cyberattacks, so they need to surpass the potential red flag.
However, cybersecurity is just one area outside the financial domain that modern CFOs need to understand in depth. If your CFO wants to be a business strategist, that is, if you want to meet the expectations of the CEO and the board, you need to know more.
In the following interview, Teruel builds on his years of financial experience in the cybersecurity market and his role as an auxiliary professor in the MBA program at Santa Clara University. He tackles cyber intrusions, leadership lessons and secrets to becoming a better communicator.
What cybersecurity threats are most likely to encounter before other features?
I was recently sitting with CISO, a global ride sharing company. In the middle of our conversation he dropped an astonishing revelation. His CFO discovered an anomaly that signaled a cyber attack, not his security team. The finance team had noticed something about the company's SMS bill. Prices were inflated from nowhere, but there was no corresponding increase in legal traffic. Red flag!
When the security team dug out, they discovered the perpetrator, the bot. A large wave of automated bots was hammering the company's sign-up process to disappear when SMS verification was triggered. result? The enterprise-scale case of SMS costs and SMS “Toll scam” is a particularly despicable attack that exploits companies using text message authentication.
While security teams scan for intrusions, the financial team sees the financial crumbs left by the attacker. CFOs should handle financial anomalies such as red warning lights for cyber attacks, particularly spikes of unknown cause in SMS charges. Unchecked, these attacks drain budgets and damage reputation [require] A costly cleanup effort.
How did your education and professional experience shape you? As CFO?
Back in college, my speech teacher will eloquently recite the 10 principles of effective speech. After these years, the principles stick to me. “An effective speaker is someone who respects the respect for the orders of personality, knowledge and judgment.”
An effective leader is someone whose character (thinks world view and playbook) has been established and prepared. It is not fluid and unfairly affected by moments of opportunity and crisis, but is fixed in key principles such as “care for our people and our customers, being a good manager of opportunity, owning your mistakes and learning from them.”
The second attribute of principle number one knowledge tells me the need to immerse myself in the prominent information needed at each unique moment. As a CFO, I have focused on learning about business, products, markets, players and regulations. [environment] Other aspects. Put another way, knowledge is always learning that you are always ready.
The third factor, judgement, speaks to the need to apply correct information and experience (knowledge) at the right time for the right reasons. It means judgment based on your worldview. Above all, these three factors have influenced my career.
What are the strategies for building a team?
I am blessed with incredible team members who are inspired by domain expertise, professionalism, passion, signs and determination. That's what I'm looking for as a teammate. Are they experts on the subject? Are they comfortable sharing their perspective and defending it passionately? After that, are they willing to line up around positions that may not have been their favorable outcome? Similarly, I focus on not creating an echo chamber. There's nothing to hinder teams above GroupThink.
My team members want to learn and contribute, and are intended to help the company get promoted. The best part for me? Most of my team and I have done it several times. For many of us, it's the third, fourth, fifth [working] together.
As an adjunct professor at Santa Clara University, what leadership lessons do you want to teach students?
Education over the past 13 years at Santa Clara University Holiday School's MBA program has been a rewarding way to give back and share my experiences. Some important takeaways from my class come to mind:
- Be intentional and decisive. Business and markets move quickly.
- It contributes meaningfully outside the domain. Become a great businessman who happens to be a great “fill in blanks” expert.
- Focus on communication. My children have been hearing this warning for life. “Everything in life is how you tell a story.” Leadership is about acquiring a heart and a heart, which comes down to how you communicate.
