The role of CFO has changed more in the last few years than it has for a long time.
From digital transformation to shaping ESG outcomes, the modern CFO now finds themselves responsible for many of the tasks that were traditionally in the lap of the Chief Executive.
Are you ready to rise to the challenge? Here are five skills modern CFOs need in 2026.
1. Data & Technology Fluency
Modern CFOs are at the forefront of data and technology. They’re one of the key leaders when it comes to driving digital transformation and their ability to translate data into actionable insights is key to organisational success.
To get the best from technologies such as AI, Machine Learning and real-time data platforms, you need to have a strong grasp of how they work, what they can achieve, which tools are best and how to use them responsibly.
Modern finance teams now rely on AI and Machine Learning to:
- Generate financial and operational insights
- Build accurate forecasts, budgets and scenarios
- Clean up large data sets and highlight trends
- Automate repetitive and time-consuming tasks
- Speed up month end and year end close
- Identify discrepancies and ensure accuracy
Many tech and software giants are plugging huge investments into AI, so the number of tasks which can be automated continues to grow. While we can’t predict the future, one thing is for certain – technology will carry on evolving and it’s up to you to keep up.
Continuing to learn and upskill yourself through online courses and staying up to date with industry news is key. Keep an eye on popular sites such as AccountingWEB, ICAEW and Accountancy Today for the latest accounting news.
58% of CFOs are spending more time on tech investment and implementation.
2. Strategic Vision & Foresight
Input from the finance team is vital when making strategic decisions such as mergers, acquisitions and investments. In 2026, CFOs are playing a bigger role in shaping business strategy and driving commercial success.
To fulfil these added responsibilities, CFOs need to ensure they have a strong understanding of the business, industry and market. This provides much-needed context when formulating strategic plans and identifying growth opportunities.
Knowing the organisation and market inside-out can also help with communicating complex financial information to stakeholders and assisting with decisions in other departments, bridging the gap between financial outcomes and organisational goals.
Other skills that today’s CFOs need include the ability to formulate and improve processes, analyse data to draw insights and forecast future outcomes.
3. Adaptability & Change Management
The finance function is experiencing a fast pace of change due to regulatory shifts, external factors and digital transformation. CFOs are increasingly responsible for guiding their organisations through these transitions.
Key areas that require financial input include evaluating long-term ROI, securing phased investment, forecasting and scenario planning and offsetting any costly risks or liabilities against the potential rewards.
Successful transformation isn’t just about choosing the right technology. It requires:
- Organisational skills to steer the project in the right direction
- Communication skills to engage effectively with stakeholders
- Leadership skills to get everyone onboard with new changes
- Technical understanding of new technologies and regulations
- Enthusiasm and ambition to keep improving and moving forward
It all sounds a bit daunting, but most of us have at least a few of these skills already within us. Now, you’re being given more opportunities to hone those skills and go beyond crunching the numbers.
“Over the next 5 years, it’s predicted that the CFO role will continue to expand, skills like driving change, shaping strategy and developing talent will matter the most.”
ICAEW – What traits make up the modern CFO?
4. Leadership & Collaboration
Staying on the theme of change, today’s CFOs need to lead their team and collaborate with other departments to navigate organisational and market changes.
Once you’ve got AI on your team, it opens a whole new potential to improve efficiency. This means your approach to managing the team shifts to automate manual work and free up staff members to work on more rewarding tasks.
New technologies and systems can often be met with fear and negativity. To get your team onboard, it can help to include them in decisions, clearly communicate the “why”, provide training, listen to feedback, appoint spokespersons and ensure the new technology is properly implemented to limit disruption.
As finance is a touch point for every department in the business, it’s important that CFOs foster collaboration with other departments. For example, setting up Teams channels, integrating systems, holding inter-departmental meetings and implementing cloud-based systems. These changes allow you to achieve a more joined up approach, no matter how spread out the organisation is.
5. Risk Management & Compliance
Another string to the CFO’s bow is risk management and compliance. As part of taking a bigger role in digital transformation, CFOs are also more involved with risk management and compliance beyond credit and financial risk.
Cyber threats and regulations never take a day off, so it’s important to get a strong understanding of these areas, stay alert and implement processes to protect what you’re building.
The strongest CFOs take a proactive, structured approach:
- Weighing the costs of risks against strategic gains
- Tracking risk signals with real-time reporting
- Implementing robust risk mitigation strategies
- Integrating risk assessment into strategic planning
- Investing in up-to-date systems and cyber security technologies
Ultimately, risk management in 2026 is not just about safeguarding the organisation, it’s about enabling growth. As CFO’s take a larger role in strategic and transformation, it’s important that you become well-versed in the world of risk and compliance.
Access More Insights
Expectations in 2026 are higher than ever, but so are the opportunities. Finance leaders now have more influence and tools at their disposal than ever.
If you’d like to read more about how the role of CFO has evolved, download our eBook ‘The Evolution of the CFO: Leading Through Data and Innovation’. In the eBook, we pull together statistics from some of the most influential voices in the industry to paint the picture of today’s finance function.
