I was given the title of CFO when I was already treasurer of the organisation. When I first got the title, there was no immediate change in my responsibilities: it took about another six months for management to feel comfortable in actually changing my authority to reflect what the title entailed. But I came to realise, after the title change, that I was being sought after for my opinion in a way I had not been before, and that I was also being listened to with very different ears than had previously been the case. So I was talking to much larger audiences, more frequently, both inside and outside of the company.
As a leader, I was now moving away from just focusing on specific outcomes to a much more long-term vision that included influencing behaviours and influencing values. This was a type of vision I hadn't previously experienced. As manager of a much smaller group, the experience had been one of being insulated and isolated, with colleagues being more careful in sharing what was going on.
Hence I came to realise that I now needed to act deliberately to counter that isolation, even if just by going to the cafeteria for lunch as a way to learn about what was going on in the organisation. Attempting to break the glass wall that is created around you is important once you are part of an executive management group in a large organisation. Once you rise to a position of leadership in a large company, getting information flowing - through other than just formal channels - involves reaching out to people that are not directly working for you.
My advice to people in middle management is to look beyond just the immediate responsibility that you are being asked to deliver and think more broadly about the company. Own up to the responsibility of being a leader, so that you start to talk about what 'we' can deliver, rather than just about what 'they' (ie, senior management) can make happen for you. The sooner you start owning up to behaviours that characterise a leader, the greater the chances are that you will be viewed that way and will be offered the opportunity to expand the scope of your influence in the company.
Lesson summary
- An executive-management position calls for increased responsibility, greater authority, and stronger leadership.
- A move into executive management means a great deal of change. Lessen the burden of that change by developing a proactive approach to meeting the challenges.
- Leaders are expected to broaden their vision and see the business as a whole.
- Colleagues are more protective of the information they share with executive management.
- Executive managers must embrace their roles as leaders who influence an organisation's behaviours and values.
Ideas for action
- Identify employees who show potential for executive management. Discuss their aspirations and goals. Work with them on strategies and timelines for shaping their futures.
- Make a list of your current priorities. Categorise them according to those that affect only your team or division and those that impact the business as a whole. Identify ways to prioritise overall business needs.
- Identify ways in which you can become more proactive in your communication with individuals at all levels of the organisation. Identify ways in which you can foster proactive communication within your team or division.
- Identify ways in which you influence your organisation's behaviours and values. Rate your performance in these areas. Identify strategies and timelines for improving your weaknesses.
Author
In her early career Dina Dublon worked at the Harvard Business School as a research associate, and at Bank Hapoalim in Israel.
In 1981 she joined Chemical Bank's capital markets group as a management trainee. She was integral to the structuring and negotiation of the mergers of Chemical with Manufacturers Hanover, Chase, JPMorgan and Bank One. During her time there her role included investor relations, asset liability management, corporate mergers and acquisition, debt and equity financings.
In 1994 Dublon was named corporate treasurer, and subsequently head of corporate planning and CFO in 1999. She stepped down as CFO of JPMorgan Chase & Company at the end of 2004.
Dublon was elected to the board of Microsoft in March 2005, and to the board of Pepsi in July 2005. She has been a director of Accenture since 2001. She is also on the boards of Carnegie Mellon University, The Women's Commission for Refugee Women and Children, and the Global Fund for Women.
This article is transcribed from 50Lessons' library of over 500 video lessons given by 100 business leaders. To view and hear the full interview online, visit www.50lessons.com.
This article was published by the Finance and Management faculty (Issue 153, March 2008).
