Main Responsibilities of a CFO at Compass Diversified
Ryan's role as CFO at Compass Diversified involves significant communication—"I get paid to talk"—with internal teams, investors, and capital markets, alongside strategic planning and resource allocation. A significant part of the day-to-day also includes addressing unforeseen challenges—"putting out fires"—across the company's diverse portfolio, while simultaneously acting as a company advocate, "selling Compass and selling the story."
Communication, Strategic Planning, Leadership, Problem-Solving, Financial Management
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Job Title
Company
Undergrad
Grad Programs
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Ryan Faulkingham
CFO
Compass Diversified
Lehigh
Fordham MBA
Accounting
Finance (Banking, Fintech, Investing)
Finance
Video Highlights
1. A CFO's daily activities heavily involve communication with internal teams, investors, and capital markets.
2. Strategic planning, resource allocation, and team evaluation are also critical aspects of the role.
3. Problem-solving and addressing unexpected challenges are common occurrences, requiring adaptability and quick thinking.
Transcript
What does a day in the life of a CFO look like?
I joke with my kids when they ask what I do for a living. I tell them I get paid to talk, and they say, "What?" I spend a lot of time communicating.
This involves internal communication, talking with my team, and leading them. I also communicate with investors and capital markets about recent activity. So, communication is a significant part of my day.
Outside of that, it's strategic planning. I think about allocating resources and constantly evaluating my team's contribution to our goals and strategy. I ask myself if I have the right people on the bus.
Then, there's the firefighting aspect. When you have 10 different companies, there's always a challenge to manage. The day-to-day is unique, different, and fun.
I think it's great to meet new people every day. I'm constantly selling Compass and its story, convincing people to invest. And when you sell something you love, that's a fun job.
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