‘You learn more in a company that’s sinking’: Navigating bankruptcy can enhance a CFO’s resume

But executives trying to find a brand-new job after a personal bankruptcy will face “unpleasant questions,” consisting of whether they were at fault and what they did to help avoid a recession..

Companies will desire to understand if the insolvency resulted from macroeconomic occasions or a series of decisions made by the CFO, according to employers that spoke with the Journal.

” Its going to be the No. 1 question asked” in a task interview, Barry Toren, of the recruiting company Korn Ferry, told the Journal..

” An individual can be a far better, well-rounded CFO by virtue of being in a distressed or being in a bankruptcy scenario,” Mr. Woessner informed the Journal. “You usually find out more in a business thats sinking versus one thats growing.”.

Shawn Woessner, of recruiting company Odgers Berndtson, told the Journal that CFOs who steered a business through bankruptcy are often attractive job candidates since they can prepare for worst-case circumstances and can manage money throughout a recession..

Those abilities include producing high-stakes liquidity forecasts, negotiating with lending institutions, revamping a company model and navigating legal proceedings while managing everyday obligations..

Leading a company through bankruptcy can be an unforeseen bright area on the resume of CFOs, according to The Wall Street Journal..

Alia Paavola –
Wednesday, August 5th, 2020

More posts on healthcare financing: Illinois health system lays off 10% of workforceTenet to end some inpatient services at 2 Massachusetts hospitalsumma Health brings back 654 furloughed workers.

After dealing with a bankruptcy, CFOs can bring out news abilities got from a refresher course in crisis management, according to the report..

© Copyright ASC COMMUNICATIONS 2020. Intrigued in LINKING to or REPRINTING this material? View our policies by click on this link.

© Copyright ASC COMMUNICATIONS 2020. Intrigued in LINKING to or REPRINTING this content? View our policies by clicking here.