Margaret Ewing

As Accountancy Age’s editor recently commented, the addition of Burberry to the FTSE 100 has elevated its FD, Stacey Cartwright, to an exclusive minority group. There are currently now only four female FDs in the FTSE 100. As Gavin Hinks noted: “Female FDs at this level are in short supply.”

There are large numbers of women in the finance functions of organisations but disproportionately few women FDs. The role often requires long hours and strenuous demands. This recipe does not suit all women, but many of us are up for the challenge and actually thrive under these conditions. So what can be done to ensure our bosses appreciate that women make ideal FDs?

Six months ago Deloitte interviewed 15 leading women FDs from Europe and the US, plus head-hunters and other senior executives to try to learn useful lessons for any aspiring FD, man or woman. Our research highlighted that a balance is necessary between personal traits and values, opportunities seized, key relationships and specific skills. It also demonstrated that women should be equally, if not more, suited to being an ideal FD.

We identified five essential traits and values: curiosity, courage, perseverance, confidence and ethical responsibility. Accounting, financial literacy and “number crunching” skills are necessary, but not sufficient. The most salient are “soft skills”, such as communication skills; listening and approachability; negotiation and conflict resolution; influencing skills and prioritisation. But the most common feature of the leading women FDs were the critical relationships they had developed and sustained, which helped refine the skills and traits that made them great FDs.

Gender differences do not prevent women becoming FDs. Values, skills, opportunities and relationships determine the ability to become an FD. Aspiring young professionals must take ownership of their career and obtain broad experience. Today’s FDs need to sponsor their staff and provide them with the opportunities to gain relevant experience and take on different tasks. And we need to ensure that women do not miss out on these opportunities as a result of maternity leave or working reduced hours.

Women make fantastic FDs ­ just as good as men ­ but bosses today need to provide them with the opportunities to demonstrate it.

Margaret Ewing is vice chairman at Deloitte and former CFO of BAA

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