For a long time, the Chief Financial Officer (CFO), then known as the financial director, was the silent guardian of balance sheets, the one who closed the accounts and mastered spreadsheets. But this role has changed, and significantly. “Today, the modern CFO is more of an economic strategist than a sophisticated accountant. They are the mind behind decisions that move billions, the interpreter of global crises, and increasingly, the protagonist of corporate transformation,” explains Alysson Guimarães, CEO of LeverPro, a Brazilian company specializing in financial planning and analysis (FP&A) solutions for medium and large companies.
According to him, the change was driven mainly by the incorporation of advanced technologies in corporate finance, which has become a competitive differentiator. According to the latest McKinsey report (2024), companies with digitally skilled CFOs have an EBITDA 15% higher than the average in their sectors. This efficiency gain stems primarily from the adoption of tools like artificial intelligence for cash flow forecasting (used by 72% of CFOs at large corporations) and blockchain for risk management (35% of IBOVESPA companies have already implemented it).
Another aspect that has put CFOs, that is, financial directors, at the forefront is the macroeconomic storm of recent years, with fluctuating interest rates, persistent inflation, and currency volatility. According to Economatica, 68% of companies listed on B3 revised their currency hedging strategies in the last 12 months. Some went further. Lojas Renner, for example, reduced its dollar exposure by 40% through a maneuver led directly by the finance team.
“And the capital market recognizes those who lead innovation. A study by Itaú shows that companies with CFOs considered ‘innovators’ secure financing at interest rates up to 1.5 percentage points below the competition,” exemplifies LeverPro’s CEO.
This logic has profound implications. Credit Suisse estimates that companies with strategic CFOs are valued up to 20% higher by the market. Weg illustrates this thesis well: after restructuring its financial leadership, it saw its market value grow by 35% in just 18 months, even during an Ibovespa downturn.
The appreciation matches the impact. Mercer consultancy notes that the average compensation for CFOs of Brazil’s 100 largest companies reached R$ 4.2 million annually in 2024. According to a McKinsey study, financial directors skilled in AI and blockchain drive results; salaries can reach R$ 8 million/year, as seen in fintechs and digital banks, and professionals with certifications like CFA (Chartered Financial Analyst) can earn up to 35% more. According to a Page Executive study, the fixed compensation for CFOs starts at R$ 70,000 in large companies.
The base salary may include variable compensation and stock participation, common for executives in strategic positions. This means total compensation can exceed R$ 100,000, depending on the company’s size and revenue.
For Alysson Guimarães, it’s not just the salary that has changed. The profile has transformed too. According to Russell Reynolds, 62% of CFOs at Brazil’s 500 largest companies came from areas outside finance, such as technology and operations. And 45% hold international MBAs. Skills like Python programming and mastery of tools like Power BI have become prerequisites. “The modern CFO has evolved from being a sophisticated accountant to becoming the architect of value creation in the company. Their knowledge of behavioral finance, economic modeling, and intangible asset management is as important as technical mastery of accounting reports. And, more recently, mastery of technology.”
At Ambev, for example, the CFO implemented an AI system that reduced the inflationary impact on operational costs by 30%. At Nubank, the institution’s CFO, who has a background in data science, uses machine learning to predict delinquency trends.
“The key competencies of the modern CFO include strategic vision, technological fluency, data-driven decision-making, and a strong commitment to ESG practices,” says Alysson, who also runs a social media channel with 70,000 followers and shares the ‘CFO Manual’ to help professionals adapt to this new reality.
The phrase that best summarizes this transformation might be Guimarães’ own: “The CFO of the future doesn’t ask ‘How much did we spend?’ but ‘How does this investment transform our business and the world?’ With the convergence of technology, sustainability, and strategy, the role of the financial director is redefining its place and importance in the contemporary corporate landscape.”
