The Better Finance Podcast

In this episode, Lululemon executives Meghan Frank, CFO, and Alex Grieve, CAO, engage in a captivating conversation with Myles Corson. Together, they delve into their pivotal roles in driving Lululemon's success, highlighting the significance of sustainability, customer connections, and technological advancements. To kickstart the discussion, Meghan and Alex reflect on their unique experience of sharing the CFO role for a brief period, which ultimately resulted in the development of a strong and mutually beneficial relationship between them. They emphasize how open and transparent communication has played a pivotal role in their successful engagement with investors. By consistently focusing on key themes that investors are genuinely interested in, they have been able to shape their communication strategies accordingly. Recognizing the paramount importance of sustainability, Meghan and Alex proudly view it as an integral part of Lululemon's mission. They prioritize keeping investors well-informed about the company's progress in this domain, and specifically stress the crucial role of accurate reporting, including sustainability reporting. Customer loyalty is another important aspect that Meghan and Alex address during their discussion. They delve into the various programs implemented by Lululemon to nurture and maintain customer satisfaction. Moreover, they emphasize that the very essence of Lululemon's DNA lies in fostering connection and building a strong sense of community among its customers. By prioritizing these foundational principles, Lululemon continues to cultivate and strengthen its customer relationships, reinforcing loyalty and further solidifying its position in the market. The views and opinions expressed are those of the individuals and do not reflect the official policy or position of EY or any other organization. © 2024 Ernst & Young Global Limited

In this episode of The EY Better Finance podcast, we are joined by Deirdre Ryan, Global Finance Transformation Leader, and Andrea Gronenthal, Americas Strategic Tax Transformation Leader from the EY organization, to delve into key findings from the EY Global DNA of the CFO survey. The episode also features insights from two seasoned global executives : Joseph J. Wolk (Joe), the Executive Vice President (EVP) and Chief Financial Officer (CFO) of Johnson & Johnson, and Nick Priday, the CFO of Dentsu Group Inc., who were interviewed as part of the research. During the discussion, Deirdre and Andrea examine three paradoxes that CFOs confront on a daily basis: balancing short-term and long-term value, navigating the tightrope between safety and boldness, and transitioning from a traditional skill set to assuming a strategic leadership role. Enjoy this engaging exploration of the challenges and complexities faced by today's CFOs, and the multifaceted role they play in shaping the future of finance. The views and opinions expressed are those of the individuals and do not reflect the official policy or position of EY or any other organization. © 2024 Ernst & Young Global Limited

In this episode of The EY Better Finance podcast, Jack McCullough president of The CFO Leadership Council, joins host Myles Corson to explore what makes an elite CFO. In this episode of The EY Better Finance podcast, Jack and Myles dive into the world of CFOs, exploring the unique qualities that make them successful. Jack highlights that it's not just skills, but also personality traits, that can make an exceptional CFO stand out. Jack shares valuable insights on how to develop these traits and build stronger cross functional relationships. Jack emphasizes the importance of fostering a culture of transparency where everyone feels comfortable sharing ideas and learning from mistakes. He also explains that as a CFO, it can be crucial to help everyone understands the company's goals and values. In this episode, Jack also stresses the significance of establishing a personal brand as a CFO. This brand reflects one's expertise, reputation, and values within the industry. He discusses the role of a CFO as a storyteller and provides examples on how to create narratives that resonate with specific audiences. The views and opinions expressed are those of the individuals and do not reflect the official policy or position of EY or any other organization. © 2024 Ernst & Young Global Limited

In this episode, host Myles Corson and Phil Shelley, Chairman of doc Stribute, delve into the significance of clear and consistent CFO communication across all business areas. They explore its role in attracting the right shareholders, stakeholders and employees, and highlight the actions taken by successful CFOs to foster effective communication. The episode underscores the importance of cultivating the right organizational culture to effectively execute a company's mission and vision. Without effectively communicating these goals, CFOs and their organizations risk attracting the wrong investors and talent, especially in a market where prospective employees and shareholders prioritize understanding the culture they will be a part of. The episode also discusses the role of technology in the business world and the need for organizations to strike a balance between maintaining alignment and adopting new technologies into daily employee tasks. They also discuss Mergers and Acquisitions, emphasizing that transparent communication, regarding the acquisition's objectives, can be crucial for smooth transactions of this nature. The views and opinions expressed are those of the individuals and do not reflect the official policy or position of EY or any other organization. © 2024 Ernst & Young Global Limited

In this episode of the Better Finance podcast, Perry Wiggins, CFO at AQPC, discusses technology’s impact on finance and what it means to be a human CFO. As the chief financial officer (CFO) for American Productivity and Quality and Productivity Center (AQPC), Perry Wiggins leads the finance and accounting teams, as well as servesserving as a member of the executive team. His career before AQPC centered on the health care and non-profit sectors. While there is often a substantial focus on technology and its impact on finance, Perry is passionate about using technology as a tool and an enabler, but not forgetting the human dimension and the idea of the “human CFO.” Through his experience, Perry has realized that he can find a way to be a good steward of the organization, a great financial leader, but also be mindful of the impact that his decisions have on people's lives. Perry shares perspectives on the findings from the APQC 2023 Financial Management Priorities survey, including why he expects to see the number of organizations using advanced data visualization tools to rise rapidly from the current 15%. The views and opinions expressed are those of the individuals and do not reflect the official policy or position of EY or any other organization. © 2024 Ernst & Young Global Limited

In this episode of the Better Finance podcast, Noah Barsky, Professor at Villanova University, joins host Myles Corson to explore the impact of AI across finance function. Host Myles Corson talks to Noah Barsky, a professor at Villanova University, about the use of artificial intelligence (AI) in the finance function. Noah brings his insights from an article he wrote for Forbes and a survey conducted by EY teams. Noah dives into the exciting opportunities and challenges that AI presents in finance. He highlights why senior leaders in the C-suite and boards should have meaningful discussions about incorporating AI into their operations. However, many organizations can struggle with this because of distractions and ineffective leadership. Noah explains what can make a true leader — someone with the ability to think critically, communicate clearly and have a strong sense of purpose. He emphasizes the importance of leaders who can guide their teams, make informed decisions and build trust. He also warns against being dependent on specialized knowledge, as it can hinder decision-making and hold back progress. Noah stresses that successful AI adoption can require not only understanding the business, but also anticipating future outcomes. He emphasizes the role of bold leadership in setting clear goals and creating a practical plan to achieve them. Additionally, Noah underlines the need for a culture that encourages open discussions about effectively integrating AI into company practices. The views and opinions expressed are those of the individuals and do not reflect the official policy or position of EY or any other organization. © 2023 Ernst & Young Global Limited

In this episode of the EY Better Finance Podcast, Myles Corson is joined by Christopher Volk, business leader and author of the book, The Value Equation, a guide to wealth creation for entrepreneurs, leaders and investors. Christopher’s distinguished business career has included taking three companies public, two of which he founded. Leading those companies, he evolved the ideas that inform the reader that wealth creation for shareholders was a more important measurement of business success than typical earnings metrics. His approach provides a roadmap to how successful companies can create wealth through strong business models. With this approach, there are six key variables that combine to deliver equity return. The key for the CFO is to dissect the business model, understand where the variables are, and track them over time. The objective is to make the business and the equity worth more than it costs to create. The key stakeholders are customers and shareholders. If a business can deliver value for them, other stakeholders, such as employees, suppliers and communities will all benefit from the wealth created. In a high-performing business, corporate culture is vital and strong communication should be at the heart of it. Employees should be empowered to put forward ideas and solutions, and not be held back by fear of disrupting positivity. Finally, Christopher gives us a glimpse into a quote that inspires him and looks forward to a constructive future for finance as it exploits the potential of artificial intelligence (AI). The views and opinions expressed are those of the individuals and do not reflect the official policy or position of EY or any other organization. © 2023 Ernst & Young Global Limited

This episode of the Better Finance podcast features Maria Montenegro, Chief Strategy and Innovation Officer, Wolters Kluwer, and James Paterson, Vice President and General Manager, CCH Tagetik, North America. As organizations continue to drive change management and adopt behaviors that embed sustainability into their processes, the integration of ESG performance management with financial and operational reporting is quickly becoming the norm in driving improved business outcomes. However, it’s a complex task to harmonize financial, strategic, operational and sustainability goals. Finance executives may find themselves taking the lead to standardize and validate the accuracy of integrated financial and nonfinancial data. In this episode, podcast host Myles Corson discusses with Maria and James how leveraging their corporate performance and ESG technology platforms from Enablon and CCH Tagetik can help provide a centralized source of accessible and reliable data. They explore how this increases collaboration and integrates risk management and performance improvement with reporting. The views and opinions expressed are those of the individuals and do not reflect the official policy or position of EY or any other organization. © 2023 Ernst & Young Global Limited

This special ESG episode of the Better Finance podcast features Brian Tomlinson from Ernst & Young LLP, and Alex Edmans, Professor of Finance at London Business School. The environmental, social and governance (ESG) space is at a remarkable phase of its development, having gone from being a niche part of corporate and capital markets discourse to being part of the mainstream. The trends that have been driving that include market participants making commitments around ESG, large corporations embracing aspects of ESG disclosure, and in recent years, the ESG disclosure ecosystem being adopted by regulators in key markets across the world. We appear to be at a high watermark for ESG, and Alex Edmans discusses how his paper, “The End of ESG,” highlights how ESG should be mainstream for executives and investors. There are many risk factors and opportunities with ESG that can affect the long-term valuation of a company. The views and opinions expressed are those of the individuals and do not reflect the official policy or position of EY or any other organization. © 2023 Ernst & Young Global Limited

In this episode of the EY Better Finance podcast, host Myles Corson is joined by Tom Hood, Executive Vice President of the American Institute of Certified Public Accountants (AICPA). An early adopter of social media, Tom reveals how it has helped him engage with a new generation of finance professionals. Also, he provides advice for CFOs considering venturing into the world of social media. The episode also explores Tom’s work with the AICPA and the future of the Finance Leadership Group — a community of senior finance leaders who meet to discuss major issues and the future of the industry. Tom discusses how new technologies, such as artificial intelligence (AI), are beginning to have a significant impact on the finance profession. And how these new technologies could help finance teams to focus more time on adding value across complex finance matters. This is achieved by reducing the amount of resources needed to complete simple and repetitive activities. The episode explores how mastering these new technologies could lead to the reverse mentorship, in which seasoned financial professionals could benefit from the capabilities and experiences of their younger counterparts. This collaboration with other departments and age groups could help financial professionals widen their perspectives and skill sets at all levels. The views and opinions expressed are those of the individuals and do not reflect the official policy or position of EY or any other organization. © 2023 Ernst & Young Global Limited

In this episode of the Better Finance podcast, host Myles Corson, Victor Casalino, Americas VP and CFO at Microsoft and Dave Helmer, EY Global Tax and Finance Operate Leader, discuss changes potentially impacting tax and finance today. Results from the EY 2022 Tax and Finance Operations Survey indicate that, of the 1,700 companies across 45 countries that responded, 85% are scrutinizing their existing finance and tax operating models for issues that can potentially weaken their future impact. Many are finding it necessary to make dramatic adjustments in some key operational areas to keep pace with our evolving post-pandemic workplace. Talent: Businesses are experiencing a short supply of finance and tax talent internally, particularly those with transformational skills in technology — e.g., AI, machine learning, data modeling — all of which can help drive speed and quality. Legislative and regulatory changes: Dramatic changes globally sent companies scurrying to find skilled resources to identify and interpret myriad changes and make required adjustments within their company. Sustainable plans for data and technology: 50% of survey respondents cited the absence of formal, viable data and technology plans as the number one reason they could fail to achieve their mission and vision. Budget pressures and cost reduction: 74% of respondents said they had to institute cost reduction strategies due to the pandemic and economic downturn. To help address these and other functional and operational challenges, many large companies are exploring co-sourcing more strategic and value-add activities in their finance and tax functions and partnering with teams outside their organization with deep knowledge and commitment to certain areas of the business. Successful co-sourcing enables companies to streamline and develop consistent processes, automate when possible, and optimize technology to drive value and speed. The views and opinions expressed are those of the individuals and do not reflect the official policy or position of EY or any other organization. © 2023 Ernst & Young Global Limited

In this episode of the Better Finance podcast, Myles Corson talks to Prat Bhatt, Senior Vice President and Chief Accounting Officer at Cisco, and Ciara Lee, Cisco’s first ESG Controller, about the importance of financial rigor in ESG. Cisco’s stated purpose is to make the world a better place. So how does the company’s first environmental, social and governance (ESG) Controller make sure that happens? In a fascinating and wide-ranging discussion, they cover what the rigor of finance can bring to ESG, and the importance of finance’s unique ability to bring accountability, governance, control systems and formal processes to the ESG table. Together, they unpack the challenges of getting to net zero across scope 1, 2 and 3 by 2040, and the particular challenges of scope 3. The views and opinions expressed are those of the individuals and do not reflect the official policy or position of EY or any other organization. © 2023 Ernst & Young Global Limited

In this episode of the Better Finance podcast, Myles Corson welcomes Brian Tomlinson, ESG Reporting Managing Director at Ernst & Young LLP and Ariel Babcock, Head of Investment Stewardship at Fidelity Investments and formerly Head of Research for FCLT Global, a not-for-profit organization that develops research and tools to drive long-term value creation. FCLT’s research of short- and long-term business strategies has found that the pressure for quick projects and fast payoffs may trigger poor outcomes and investment value erosion. In fact, short-termism is experiencing some market pushback due to the constraints it places on decision-making relative to longer-term investments. It seems clear that short-termism does constrain companies’ appetite for investing in environmental, social and governance (ESG), primarily due to ESG’s inherent medium- to long-term (often times decades long) payoff. ESG investments may be minimized or cut entirely to hit short-term earnings goals, possibly undermining shareholder rights as a result. Particularly in turbulent economic environments where companies tend to hoard capital, long-term goals may be weakened or overthrown. The views and opinions expressed are those of the individuals and do not reflect the official policy or position of EY or any other organization. © 2023 Ernst & Young Global Limited

Myles Corson, EY Global & Americas Strategy and Markets Leader, Financial Accounting Advisory Services, Dave Helmer, EY Global Tax and Finance Operate Leader, and Lyn Bird, VP, Cross-Industry at Microsoft, were guests on the EY Microsoft Tech Directions podcast. Together they discuss how technology is enabling modern finance and tax transformations. Talent shortages, legislative change, and technological transformation caused by the pandemic and geopolitical uncertainty are placing unprecedented pressure on corporate finance and tax departments. In-house finance and tax specialists are tracking a growing set of requirements that crowd their agenda. These developments are increasing the workload for functions that are facing budget cuts and unparalleled skills shortages. Many businesses are co-sourcing select activities to tech-enabled finance and tax specialists. The mounting complexity of modern finance and tax systems is leading corporate finance and tax departments to pass at least some of the responsibility for routine work to outside providers. Whether it’s in-house, managed services or a blend of both, co-sourcing routine tasks such as financial planning, tax and statutory accounting can help improve efficiency and give senior staff the breathing space to tackle answers to some of the big strategic questions facing businesses. In this podcast, our panelists share how businesses are taking action to adjust to these changing dynamics and how leaders can better position their finance and tax functions, leveraging data and technology, to add greater value to the organization. The views and opinions expressed are those of the individuals and do not reflect the official policy or position of EY or any other organization. © 2023 Ernst & Young Global Limited

This special Think ESG episode of the Better Finance podcast features Brian Tomlinson from Ernst & Young LLP, and Nathan Fabian, Chief Responsible Investment Officer at the Principles for Responsible Investment. The discussion sheds light on the EU taxonomy: a system for reporting on sustainable activities. The taxonomy is expected to be a lasting reform, with significant implications for companies with operations in the EU. The EU has placed sustainable finance and the transition to a sustainable net-zero economy at the core of its growth strategy. Efforts were directed toward development of a taxonomy with standardized environmental performance criteria aligned with the Corporate Sustainability Reporting Directive and the Sustainable Finance Disclosure Regulation. Communication and disclosure of progress toward alignment of companies’ economic activities with the taxonomy’s sustainability performance criteria was a priority. The EU taxonomy creates the concept of “green by law” and provides an objective set of largely science-based criteria by which activities are measured in order to be labeled and marketed as “sustainable.” The taxonomy structure indicates when an activity makes a substantial contribution to one of six environmental objectives (climate change mitigation, climate change adaptation, water, circular economy, pollution and biodiversity) with no significant harm done to the other five. A recent EY study examines the first-year results of the application of the taxonomy and the disclosure practices adopted by EU companies in the first wave of reporting. Visit ESG Reporting on ey.com for more. © 2023 Ernst & Young LLP

This special ESG episode features Brian Tomlinson, Ernst & Young LLP, and Tensie Whelan, Director, Center for Sustainable Business at NYU’s Stern School of Business, as they explore ESG reporting and the correlation between sustainability and financial performance. Environmental, social and governance (ESG) performance, and how it is reported has gained significant attention across the market — as investors continue to drive for more consistent and transparent ESG metrics that will help them better assess corporate health and long-term value. The EY Global Institutional Investor Survey found that 89% of the investors said they would like the reporting of ESG performance — measured against a set of consistent standards across the globe — to become a mandatory requirement. While many corporations are reporting on their ESG performance and financial performance, they are often not reporting on how the two relate. The challenge most businesses face is proving the monetary impact of their sustainability efforts. So, the Center for Sustainable Business at the New York University Stern School of Business developed a Return on Sustainability Investment (ROSI) methodology to bridge the gap between sustainability strategies and financial performance, helping to build a better business case for both current and planned sustainability initiatives. The pace of change in ESG reporting continues to accelerate. Corporate leaders across the organization should recognize and address the ESG needs of investors and all their stakeholders to create sustainable, long-term value. Visit ESG Reporting on ey.com for more. © 2023 Ernst & Young LLP

In this episode, Myles Corson welcomes Marc Siegel, EY Americas Corporate and ESG Reporting Leader, and Brian Tomlinson, ESG Managing Director at Ernst & Young LLP, to discuss updates on ESG reporting matters, sustainable finance trends and the launch of subseries of the Better Finance podcast dedicated to ESG regulations and initiatives.

In this episode of the Better Finance podcast, Myles Corson welcomes Ken Tanji, Chief Financial Officer of Prudential to discuss how to achieve financial security in a world of growing disruption, the importance of inclusivity and DEI in finance, and the key to successful hybrid working and employee satisfaction.

In this episode, Myles Corson welcomes Joel Bernstein, CFO, Customer Success & Head of Global Finance at SAP. They discuss SAP’s business model transformation, how finance functions adapted during the pandemic to accelerate investments in digital finance, and SAP’s strategy to make environmental, social and governance (ESG) reporting more transparent to become a more customer focused business. SAP has had to embrace significant change in their transformation from a legacy business model to a cloud based business model. An integral part of the business transformation was the ability to articulate corporate purpose, as well as a clear strategy about where the business was heading, to engage and inspire its people to make a sustained change. ESG and sustainability issues are being widely embraced by the business world at large. As regulators, including the recent proposal from the US Securities and Exchange Commission, introduce global standards on climate-related disclosures reporting requirements progress, CFOs have a valuable and critical role to play in building reliable ESG reporting processes. SAP is a frontrunner in sustainability in finance, having announced carbon neutrality by 2023, two years ahead of what they originally thought they’d be able to accomplish. By becoming a customer focused business and considering the needs of both internal and external customers, Joel believes finance has the opportunity to be a better business partner and thought leader to drive change across the organization. If finance is not fully involved in transformation, it’s happening without the function, and not as a result of it. Be on the right side of that equation. Embrace the opportunity for finance to be a business partner, thought leader, and change driver. Finance should not be the reason that things cannot change. The importance and acceleration of ESG and sustainability in Finance is very visible, and it is taking shape in the office of the CFO. This is a unique opportunity for finance to link operational and financial data to sustainability, making a big impact to the organization and its stakeholders. The views and opinions expressed are those of the individuals and do not reflect the official policy or position of EY or any other organization. © 2022 Ernst & Young Global Limited

This special episode of the Better Finance Podcast focuses on the importance of environmental, social, and governance (ESG) standards in finance. Marc Siegel, EY ESG Reporting Thought Leader, and Janine Guillot, CEO of the Value Reporting Foundation (VRF), discuss the role of VRF in simplifying ESG reporting and disclosure. The conversation highlights how corporations can adopt an ESG strategy, measure ESG performance using relevant metrics, and make ESG disclosures in a transparent manner. The discussion also examines the importance of involving cross-functional teams in ESG initiatives to help drive successful adoption of global ESG standards. In 2021, the Value Reporting Foundation (VRF) was formed through the merger of the Sustainability Accounting Standards Board (SASB) with the International Integrated Reporting Council (IIRC). The integration of these two entities signalled significant progress towards the development of environmental, social and governance standards. The SASB's comment letter to the SEC made it clear about the importance of ESG disclosure, including climate risk, in assessing financial performance and business risk. Companies should consider ESG disclosure as an essential aspect of their ESG strategy. Europe has come out with an intent to develop European nonfinancial reporting or ESG standards, that would be applicable to companies and have asked the Financial Reporting Advisory Group to develop those standards. There is strong demand from global companies and global investors for some sort of international harmonization around standards. The views and opinions expressed are those of the individuals and do not reflect the official policy or position of EY or any other organization. © 2022 Ernst & Young Global Limited