CFO of the Year 2022

THE COMPETITION

CFO of the Year is organized for the sixth consecutive year and aims at distinguishing the financial leaders’ contribution to the CFO profession, promoting the best practices in the field and encouraging further development in the sector.

The competition provides an excellent opportunity for financial professionals to gain recognition of their efforts over the years and to recognize companies as professional organizations that promote good practices and develop the business environment in Bulgaria.

CFO of the Year Award in 3 steps

1. Who can apply?
Nominees must be a Chief Financial Officer or equivalent with either a public or private organization.

2. How to apply?
The CFO’s can either self-nominate themselves or be nominated by their team or company management board representatives. 

3. Why apply for a CFO award?
CFO of the Year is a great opportunity for the CFOs, their team and company to receive well-deserved and prestigious recognition for the many accomplishments of the past few years.
 
APPLICATION PROCESS 
The applicants must meet the following criteria:

 - Nominees must be a Chief Financial Officer or equivalent with either a public or private organization.

 - Nominees have been in their current position for at least one year.

 - Nominations must be approved and validated by the nominee’s company Chief Executive Officer. The validation is done by filling in the validator’s details in the nomination form. By doing so, the validator approves the nomination.

 - Candidates are not employed by, or related to, any of the organizations that organize, partner or sponsor the CFO OF THE YEAR forum or the CFO OF THE YEAR competition.

 - Judges, and individuals related to them, are not eligible to apply for the CFO OF THE YEAR awards.

Nomination process

The CFOs can make self-nominations or be nominated by their team, PR/HR colleagues or company management board representatives. Nominators may submit nominations for more than one individual.
Each nominee can apply for more than one category but can be awarded one award only.

Nominations may be submitted  online from here  a nomination form in Word format and emailed to [email protected] not later than 21 October 2022.

More information about the competition is available at: 02/817 7100 or write to [email protected]
 
AWARDS CATEGORIES

The following categories will be awarded in the CFO of the Year competition:
1) CFO of the Year: Strategy and business partnering
2) CFO of the Year: Finance function transformation
3) CFO of the Year: Team leadership and talent development
4) CFO of the Year: Planning and budgeting
5) CFO of the Year: Control and reporting
6) CFO of the Year: Small and medium enterprises

1. CFO of the Year: Strategy and business partnering
 

Apply here: Word form / On-line

In the last years the role of the CFO has been rapidly expanding to not only reporting numbers, but to truly becoming a trusted business advisor to management and board. CFOs have been actively stepping outside the finance function looking for the principles and capabilities to become real business partners in the organizations. Senior Finance professionals have been embracing technology and data to transform their departments and be able to provide strategic insight and enable change.

Detailed category criteria could be found in Strategy and business partnering nomination form

2. CFO of the Year: Finance function transformation 
 

Apply here: Word form / On-line

For CFOs, digital disruption offers the opportunity for new business models and revenue streams. However, it also makes the organization vulnerable to competition from new players and agile incumbents and creates exposure to new risk. This presents an important opportunity for CFOs to step in and transform the Finance organizations by embracing a digital business model and turning the promise of data analytics into measurable performance gains.

Detailed category criteria could be found in Finance function transformation nomination form.

3. CFO of the Year: Team leadership and talent development
 

Apply here: Word form / On-line

Growing expectations from CFOs directly refer to the growing need of a powerful Finance team in every organization. To deal with the challenges of changing reality, CFOs need to make every effort to not only recruit the best talent and build the required capacities needed for the Finance function of the future. CFOs need to create an environment in which all the team members feel safe to learn, are encouraged to develop and inspired to bring value to the company and for themselves.

Detailed category criteria could be found in Team leadership and talent development nomination form.

4. CFO of the Year: Planning and budgeting 
 

Apply here: Word form / On-line

Planning and budgeting can help a business predict profitability, forecast income and expenditures, formulate plans and strategies, provide a model for performance and reach financial success. An improved planning and budgeting process lead to building a better company and demonstrates financial leadership.

Detailed category criteria could be found in Planning and budgeting nomination form.

5. CFO of the Year: Control and reporting 
 

Apply here: Word form / On-line

Financial control may be construed as an analysis of a company's actual results, approached from different perspectives at different times, compared to its objectives and business plans. These analyses require control and adjustment processes to ensure that business plans are being followed and that they can be amended in the event of anomalies, irregularities or unforeseen changes.
Corporate reporting underpins companies’ reputations and builds market confidence in the actions of company leaders. Reporting plays a central role in rebuilding trust in companies by providing clear insight into the organizations’ financial and non-financial performance.

Detailed category criteria could be found in Control and reporting nomination form.

6. CFO of the Year: Small and medium enterprises 
 

Apply here: Word form / On-line

The CFO role in small and medium enterprises (SMEs) and start-ups could be a real challenge. SME management needs a fact-based financial perspective to support their decision-making. Yet the Finance function in such companies is often hampered in providing strategic insight and analytics to top management. CFOs are often overburdened by routine tasks and daily problem-solving, struggling with limited resources.

Detailed category criteria could be found in Small and medium enterprises nomination form.

Each CFO can submit his/her own application or be nominated by his/her team, colleagues or management of the respective company. Nominators may nominate more than one person.
Entrants may submit an entry in one or more categories, but each entrant may only receive an award in one category.

For the purposes of nomination, a nomination form must be completed in Bulgarian or English. It can be submitted online from here or sent as a document to [email protected] no later than October 21, 2022.

For more information about the application process, you can call tel.: 02/817 7100 or write to e-mail [email protected]

JUDGING PANEL AND SELECTION

The nominations will be reviewed by an independent panel of judges comprising successful business leaders (CFOs, CEOs), academics and other financial organizations representatives.

Each judge will assess the nominations independently and will provide his or her number of points:
 - described in the Nomination form, for each category. The points given by the individual judges will then be totaled.
 - the judges reserve the right to request references or other supporting information for the application/nomination.