Addressing delegates at the WTO’s 2026 Ministerial Conference in Cameroon on 26 March, Director-General Ngozi Okonjo-Iweala stated that the world trading system is undergoing its worst disruptions of the past 80 years, leaving the international order shaken. Indeed, she warned: “The world order and multilateral system we used to know has irrevocably changed. We will not get ⁠it back.”

For many CFOs, navigating this era of uncertainty may be a daunting prospect. But there are steps they can put in place to make sense of the multiple challenges lying before them which allow them to find a way forward.

With a background in management accounting, Melanie Robinson is now a senior figure in the governance arena, serving as Deputy CEO at the Institute of Leadership (IoL). In tandem, she is Managing Director of IoL subsidiary ABE Global, formerly the Association of Business Executives. Insights asked her which sorts of measures CFOs must emphasise in their everyday work to steer through the volatile landscape.

Be a dedicated partner to other parts of the business

Traditionally, Robinson points out, the entrepreneurial side of the business community has tended to view finance as the department that says no or deliberately acts as a blocker. As much of a stereotype as that may be, it is vital amid the demands of the moment for CFOs to partner effectively with every other part of the business to provide information essential for decision-making.

“It’s not necessarily about being extrovert but getting out there to other departments and making sure you’re talking and listening to colleagues,” Robinson says. “In other words, completely the opposite of any image people may have of finance staff crunching the numbers in a room by themselves.”

Understand how the business runs on an end-to-end basis, and the implications for its various processes as a result of the decisions you make, she says. Empathy is important: “Try to see other people’s points of view on contentious issues.”

Embrace dynamic planning

Shifting away from the rigid structures of quarterly and annual planning is a must for tackling increasingly changeable and fluid scenarios, Robinson stresses.

“The world is moving so fast,” she says. “We haven’t got time to be stuck in that traditional cycle of running the quarter-end, discussing it with the board a couple of weeks later, putting forward some suggestions and then making decisions. By that point, everything’s already changed.”

Leaders need to react to things as they happen. For example, if something is happening now that has implications for three months’ time, it’s important to take action immediately.

She stresses: “When it comes to the speed of decision-making, you really need to be on it every month, or – depending on how volatile the situation is and what industry you’re in – every week. You need real-time data, and strong reporting. If you spot something that’s making a loss, you can stop it in its tracks, rather than waiting for it to lose money for another month before you do anything about it.”

Empower your team

One of the biggest problems that CFOs face is the bigger the business, the longer the decision-making chain. As such, it is important to communicate to members of your finance team that if certain situations arise, they are authorised to take appropriate action on their own initiative.

“That means giving them psychological safety, so they feel that they can make those decisions with confidence,” Robinson says. “The way to approach this is, ‘Look – we know the environment is volatile. So, it may not be 100% the right decision. But we understand that you will make it in good faith.’ That’s how you provide a foundation of security that will empower them to be able to do that.”

Prioritise resilience

Organisations are currently wrestling with the riddle of how to predict the increasingly less predictable. But perhaps they should simply ensure that they are prepared to deal with shocks on a constant, rolling basis.

“The only thing we can really predict right now is that some new event is going to happen,” Robinson says. “So, always assume that something will try to knock you off track – and have a resilient business. That means having a resilient workforce, so that you can react to events quickly. But also – and this is an area where customers and suppliers can sometimes conflict with each other – try not to tie yourself too deeply into any business arrangements.”

She advises CFOs to consider whether they really need a full-time workforce for particular roles, or if they can be more flexible; using contractors. If something does happen that reduces the flow of income, they can quickly switch off that expenditure.

The same goes for contracts. CFOs may be able to get better overall rates on longer contracts, and suppliers will naturally be looking to sign contracts with two-to-five-year terms. “But actually, if you make sure that you’re only signing shorter or flexible contracts, you can turn them off as the need arises,” says Robinson.

Robinson notes that another part of reacting to what’s happening around you is diversification. “Ask whether you are tied overwhelmingly into one thing that leaves you highly exposed to risk,” she says. “Is the war in Iran going to cut off 20% or your income streams, or most of them? If the latter, look at what else is happening in your sector that you can get into.”