The Better Finance Podcast

In this episode of the Better Finance podcast, Myles Corson talks to Prat Bhatt, Senior Vice President and Chief Accounting Officer at Cisco, and Ciara Lee, Cisco’s first ESG Controller, about the importance of financial rigor in ESG. Cisco’s stated purpose is to make the world a better place. So how does the company’s first environmental, social and governance (ESG) Controller make sure that happens? In a fascinating and wide-ranging discussion, they cover what the rigor of finance can bring to ESG, and the importance of finance’s unique ability to bring accountability, governance, control systems and formal processes to the ESG table. Together, they unpack the challenges of getting to net zero across scope 1, 2 and 3 by 2040, and the particular challenges of scope 3.  The views and opinions expressed are those of the individuals and do not reflect the official policy or position of EY or any other organization. © 2023 Ernst & Young Global Limited

In this episode of the Better Finance podcast, Myles Corson welcomes Brian Tomlinson, ESG Reporting Managing Director at Ernst & Young LLP and Ariel Babcock, Head of Investment Stewardship at Fidelity Investments and formerly Head of Research for FCLT Global, a not-for-profit organization that develops research and tools to drive long-term value creation. FCLT’s research of short- and long-term business strategies has found that the pressure for quick projects and fast payoffs may trigger poor outcomes and investment value erosion. In fact, short-termism is experiencing some market pushback due to the constraints it places on decision-making relative to longer-term investments. It seems clear that short-termism does constrain companies’ appetite for investing in environmental, social and governance (ESG), primarily due to ESG’s inherent medium- to long-term (often times decades long) payoff.  ESG investments may be minimized or cut entirely to hit short-term earnings goals, possibly undermining shareholder rights as a result. Particularly in turbulent economic environments where companies tend to hoard capital, long-term goals may be weakened or overthrown. The views and opinions expressed are those of the individuals and do not reflect the official policy or position of EY or any other organization. © 2023 Ernst & Young Global Limited    

Myles Corson, EY Global & Americas Strategy and Markets Leader, Financial Accounting Advisory Services, Dave Helmer, EY Global Tax and Finance Operate Leader, and Lyn Bird, VP, Cross-Industry at Microsoft, were guests on the EY Microsoft Tech Directions podcast. Together they discuss how technology is enabling modern finance and tax transformations. Talent shortages, legislative change, and technological transformation caused by the pandemic and geopolitical uncertainty are placing unprecedented pressure on corporate finance and tax departments. In-house finance and tax specialists are tracking a growing set of requirements that crowd their agenda. These developments are increasing the workload for functions that are facing budget cuts and unparalleled skills shortages. Many businesses are co-sourcing select activities to tech-enabled finance and tax specialists. The mounting complexity of modern finance and tax systems is leading corporate finance and tax departments to pass at least some of the responsibility for routine work to outside providers. Whether it’s in-house, managed services or a blend of both, co-sourcing routine tasks such as financial planning, tax and statutory accounting can help improve efficiency and give senior staff the breathing space to tackle answers to some of the big strategic questions facing businesses. In this podcast, our panelists share how businesses are taking action to adjust to these changing dynamics and how leaders can better position their finance and tax functions, leveraging data and technology, to add greater value to the organization. The views and opinions expressed are those of the individuals and do not reflect the official policy or position of EY or any other organization. © 2023 Ernst & Young Global Limited

This special Think ESG episode of the Better Finance podcast features Brian Tomlinson from Ernst & Young LLP, and Nathan Fabian, Chief Responsible Investment Officer at the Principles for Responsible Investment. The discussion sheds light on the EU taxonomy: a system for reporting on sustainable activities. The taxonomy is expected to be a lasting reform, with significant implications for companies with operations in the EU. The EU has placed sustainable finance and the transition to a sustainable net-zero economy at the core of its growth strategy. Efforts were directed toward development of a taxonomy with standardized environmental performance criteria aligned with the Corporate Sustainability Reporting Directive and the Sustainable Finance Disclosure Regulation. Communication and disclosure of progress toward alignment of companies’ economic activities with the taxonomy’s sustainability performance criteria was a priority.  The EU taxonomy creates the concept of “green by law” and provides an objective set of largely science-based criteria by which activities are measured in order to be labeled and marketed as “sustainable.” The taxonomy structure indicates when an activity makes a substantial contribution to one of six environmental objectives (climate change mitigation, climate change adaptation, water, circular economy, pollution and biodiversity) with no significant harm done to the other five. A recent EY study examines the first-year results of the application of the taxonomy and the disclosure practices adopted by EU companies in the first wave of reporting. Visit ESG Reporting on ey.com for more. © 2023 Ernst & Young LLP

This special ESG episode features Brian Tomlinson, Ernst & Young LLP, and Tensie Whelan, Director, Center for Sustainable Business at NYU’s Stern School of Business, as they explore ESG reporting and the correlation between sustainability and financial performance.  Environmental, social and governance (ESG) performance, and how it is reported has gained significant attention across the market — as investors continue to drive for more consistent and transparent ESG metrics that will help them better assess corporate health and long-term value. The EY Global Institutional Investor Survey found that 89% of the investors said they would like the reporting of ESG performance — measured against a set of consistent standards across the globe — to become a mandatory requirement. While many corporations are reporting on their ESG performance and financial performance, they are often not reporting on how the two relate. The challenge most businesses face is proving the monetary impact of their sustainability efforts. So, the Center for Sustainable Business at the New York University Stern School of Business developed a Return on Sustainability Investment (ROSI) methodology to bridge the gap between sustainability strategies and financial performance, helping to build a better business case for both current and planned sustainability initiatives. The pace of change in ESG reporting continues to accelerate. Corporate leaders across the organization should recognize and address the ESG needs of investors and all their stakeholders to create sustainable, long-term value. Visit ESG Reporting on ey.com for more. © 2023 Ernst & Young LLP

In this episode, Myles Corson welcomes Marc Siegel, EY Americas Corporate and ESG Reporting Leader, and Brian Tomlinson, ESG Managing Director at Ernst & Young LLP, to discuss updates on ESG reporting matters, sustainable finance trends and the launch of subseries of the Better Finance podcast dedicated to ESG regulations and initiatives.

In this episode of the Better Finance podcast, Myles Corson welcomes Ken Tanji, Chief Financial Officer of Prudential to discuss how to achieve financial security in a world of growing disruption, the importance of inclusivity and DEI in finance, and the key to successful hybrid working and employee satisfaction.  

In this episode, Myles Corson welcomes Joel Bernstein, CFO, Customer Success & Head of Global Finance at SAP. They discuss SAP’s business model transformation, how finance functions adapted during the pandemic to accelerate investments in digital finance, and SAP’s strategy to make environmental, social and governance (ESG) reporting more transparent to become a more customer focused business. SAP has had to embrace significant change in their transformation from a legacy business model to a cloud based business model. An integral part of the business transformation was the ability to articulate corporate purpose, as well as a clear strategy about where the business was heading, to engage and inspire its people to make a sustained change. ESG and sustainability issues are being widely embraced by the business world at large. As regulators, including the recent proposal from the US Securities and Exchange Commission, introduce global standards on climate-related disclosures reporting requirements progress, CFOs have a valuable and critical role to play in building reliable ESG reporting processes. SAP is a frontrunner in sustainability in finance, having announced carbon neutrality by 2023, two years ahead of what they originally thought they’d be able to accomplish. By becoming a customer focused business and considering the needs of both internal and external customers, Joel believes finance has the opportunity to be a better business partner and thought leader to drive change across the organization.  If finance is not fully involved in transformation, it’s happening without the function, and not as a result of it. Be on the right side of that equation. Embrace the opportunity for finance to be a business partner, thought leader, and change driver. Finance should not be the reason that things cannot change. The importance and acceleration of ESG and sustainability in Finance is very visible, and it is taking shape in the office of the CFO. This is a unique opportunity for finance to link operational and financial data to sustainability, making a big impact to the organization and its stakeholders.  The views and opinions expressed are those of the individuals and do not reflect the official policy or position of EY or any other organization. © 2022 Ernst & Young Global Limited

This special episode of the Better Finance Podcast focuses on the importance of environmental, social, and governance (ESG) standards in finance. Marc Siegel, EY ESG Reporting Thought Leader, and Janine Guillot, CEO of the Value Reporting Foundation (VRF), discuss the role of VRF in simplifying ESG reporting and disclosure. The conversation highlights how corporations can adopt an ESG strategy, measure ESG performance using relevant metrics, and make ESG disclosures in a transparent manner. The discussion also examines the importance of involving cross-functional teams in ESG initiatives to help drive successful adoption of global ESG standards. In 2021, the Value Reporting Foundation (VRF) was formed through the merger of the Sustainability Accounting Standards Board (SASB) with the International Integrated Reporting Council (IIRC). The integration of these two entities signalled significant progress towards the development of environmental, social and governance standards. The SASB's comment letter to the SEC made it clear about the importance of ESG disclosure, including climate risk, in assessing financial performance and business risk. Companies should consider ESG disclosure as an essential aspect of their ESG strategy. Europe has come out with an intent to develop European nonfinancial reporting or ESG standards, that would be applicable to companies and have asked the Financial Reporting Advisory Group to develop those standards. There is strong demand from global companies and global investors for some sort of international harmonization around standards. The views and opinions expressed are those of the individuals and do not reflect the official policy or position of EY or any other organization. © 2022 Ernst & Young Global Limited

In this special episode Pat Grismer, Former CFO of Starbucks, Hyatt Hotels and Yum Brands, and Cory Hrncirik, Microsoft Modern Finance Lead, join Myles Corson for a wide-ranging discussion on the future of finance. Their conversation covers the important role of CFOs in shaping strong company culture, investing time in talent development, and leveraging finance data to drive strategy and resource allocation. The episode also provides insights from seasoned finance experts on how the finance function can have a significant impact on driving business success.  The future of finance is being shaped by major forces, including changes in consumer habits, technological advancements, and a heightened focus on social responsibility. As a result, finance leaders should adapt and innovate in order to stay ahead of the curve and help to provide continued growth for their organizations. This can require a rethink of established finance functions, such as planning, forecasting, and resource allocation, with a focus on agility and relevance. Finance technology and innovation can face challenges and opportunities as a result of these shifts. Cory Hrncirik shares insights into the future of finance in this discussion. He highlights the increasing challenges CFOs face in keeping pace with evolving business models. The finance function, responsible for forecasting and budgeting, is bombarded with massive amounts of finance data, making it difficult for them to effectively manage it. Learn about the current state of finance along with steps being taken to ensure the finance function stays competitive. CFOs have an important role supporting investments in ESG while continuing to drive the company’s economic engine. Talent and culture are a key element of the CFOs agenda, particularly attracting and developing for emerging skills. CFOs can increase their impact by adapting how they communicate to better engage with key stakeholder groups. CFOs have never had a better opportunity to transform the finance function by setting a clear vision, empowering their people to adopt a growth mindset and unlocking the power of data and finance technology. The views and opinions expressed are those of the individuals and do not reflect the official policy or position of EY or any other organization. © 2022 Ernst & Young Global Limited

Host Myles Corson discusses the impact of macroeconomic and geopolitical trends including trade disruptions with Sally Jones, EY UK Trade Strategy & Brexit Leader and Nicolas Veron, Senior Fellow at Bruegel, Brussels & Peterson Institute for International Economics, Washington. They discuss how Brexit and Covid-19 are reshaping trade policies and the CFO’s role in the global environments. The discussion references two major events - Brexit and the COVID-19 pandemic - exploring how they have impacted macroeconomic and geopolitical trends. Sally and Nicolas share their perspectives on the evolving role of CFOs pre- and post-pandemic, and ways industries are pushing themselves in new and innovative ways to cope with changes. Industries are now pushing themselves in new and innovative ways to stay relevant. Corporations and government organizations have been incredibly adaptive to the lockdown conditions presented by the pandemic, effectively utilizing technology to shift from in-person to remote work. The challenges businesses are facing and how they’re shaping the role of the modern CFO and finance leaders in addressing those challenges cannot be understated, particularly for cross-border businesses. Technology is moving faster than governments and regulations can keep pace with. As disparate regulations emerge to protect consumers and their data, it has become increasing difficult for companies, particularly cross-border businesses, to meet all of the obligations. Plurilateral trade negotiations are coming together to create cutting-edge, trading commitments that will oblige companies operating within those countries to meet new and more ambitious sustainability standards. Trade disruptions, including ones experienced with Brexit or pandemic-related supply chain issues, can help companies pinpoint and modify business functions that operate in isolation. The views and opinions expressed are those of the individuals and do not reflect the official policy or position of EY or any other organization. © 2022 Ernst & Young Global Limited

In this episode, podcast host Myles Corson welcomes Jennifer Crowe, CFO of CognitiveScale, and Anthony Sgammato, EY America’s Private Assurance Leader to discuss the importance of data analytics for private company CFOs.  They discuss how finance leaders can leverage the vast amount of data to sustain a competitive edge using tools such as business intelligence, artificial intelligence, and cloud storage while navigating potential challenges such as the rise in cyber-attacks and cultural integration issues. Listen in to learn more about the role of financial data analytics in the success of private companies. For an AI software company such as CognitiveScale that makes augmented business intelligence systems, this growth in data has proven beneficial in providing true market insight. Jennifer points out that they can now integrate with other sales tools to target customers in a smarter and more efficient way. For many others, the benefits can outweigh the challenges offering the opportunity to leverage business intelligence systems, artificial intelligence, and cloud storage to bring insights from data in real time.  The initial reluctance within the Board to put sensitive financial data into the cloud is now fast changing. New cloud technology has helped transform the way companies like CognitiveScale work, enabling real-time collaboration and flexibility both internally and externally. The rise of financial data analytics has prompted many firms to leverage cloud technology in various ways. This has led to more and more CFOs seeking the help of external partners for data hosting and management. These new business intelligence systems and data that’s being driven are providing private companies with insights that young talent can use in a more efficient way. This will enable them to do more with less and be more cost efficient, as well as work on different projects throughout the organization to expand their experience. Private company CFOs are flooded with data and understand that financial data analytics can be an important tool for maintaining a competitive edge. They recognize that the end benefits exceed the challenges of rise in cyberattacks and offers the opportunity to leverage business intelligence systems, AI, and cloud storage to bring insights from data in real time. Financial accounting is seeing an acceleration in adopting new cloud technology into the finance function. Private companies, as opposed to public companies, are more likely to provide young talent with the opportunity to really build from the ground up, potentially leading to new and exciting accounting and finance initiatives. The views and opinions expressed are those of the individuals and do not reflect the official policy or position of EY or any other organization. © 2021 Ernst & Young Global Limited

In this episode of the Better Finance podcast, Myles Corson discusses the growing importance of environmental, social, and governance (ESG) issues in the real estate investment trusts (REITs) sector. He is joined by  Fulya Kocak, senior vice president of ESG issues for National Association of Real Estate Investment Trusts (Nareit) and Serena Wolfe, chief financial officer of Annaly Capital Management. Listen as they delve into the role of REITs as ESG change agents and the impact of the COVID-19 pandemic on the ESG ecosystem. Get insights into the latest ESG initiatives in the real estate sector. The impact of the global pandemic has pushed businesses to adapt and embrace innovative ideas for decision-making processes along with acting as agents of change. While it proved to be an adaptability test for almost all sectors, the initiative also revealed gaps and issues that could be resolved through with great solutions and ESG strategies. For real estate companies, the pandemic led to changes in how they operate including updates to cleaning protocols in anticipation of reopening workspaces. Additionally, property owners and landlords invested in the latest technologies for indoor air quality, studied energy consumption versus occupancy and witnessed an increase in health and wellness rating applications. This shift indicates the growing importance of ESG initiatives and compliance in the industry. Annaly Capital Management brought together its infrastructure, IT infrastructure and human capital in ways never considered before, in response to the magnified importance of emergency planning and system resiliency. Given the challenges faced through the pandemic, investors are not only focused on how businesses are responding to COVID, but also on the business continuity plan. With a growing focus on environmental, social, and governance (ESG) practices and meeting stakeholder expectations, it is crucial for CFOs to lead the way in defining the company's and industry's ESG strategy. Being proactive and instrumental in shaping the company's ESG approach helps it stay ahead of evolving ESG regulations. The CFO now plays a critical role in managing change, assessing where the company is today and how it can benefit from the ESG ecosystem in the future. It’s an opportunity to make a long-lasting, meaningful impact in the face of continued uncertainty and disruption. Stakeholder engagement is a critical part of the CFO’s role around ESG. CFO leadership today is more proactive and instrumental in helping the C-Suite define what ESG means for the organization. Good sustainability leadership is not tied to a title or a person. The key is to have passion, the ability to endure change and implement strategies, and strong communication and collaboration skills. There’s an incredible amount of entrepreneurship and interest around ESG topics. CFO’s should empower their people to embrace new ideas, because it’s an opportunity for everybody to make a long-lasting, meaningful impact. The views and opinions expressed are those of the individuals and do not reflect the official policy or position of EY or any other organization. © 2021 Ernst & Young Global Limited  

In this episode of the Better Finance podcast, Myles Corson is joined by Dave O’Hara, corporate vice president and chief financial officer for Commercial Finance at Microsoft. Dave shares how his unconventional career path, going from public policy and economic development to a friend’s software company, eventually led to being CFO of a major division in Microsoft. He attributes his career success to never staying too comfortable and embracing change, never backing down from a challenge, and finding the right mentor who will help you think differently and grow your career.

Podcast host Myles Corson welcomes Ryan Grimsland, Senior Vice President Corporate Finance and Treasurer at Lowe’s Companies, and Loren Garruto, EY Partner and Global and Americas Corporate Finance Leader. Together, they discuss how finance can enable business to better manage unpredictable market behavior as seen during the COVID-19 pandemic. They take a closer look at the challenges caused by the pandemic and how becoming more agile in forecasting and planning can help the business prepare for future disruptions.

Find out more about the role of tomorrow’s CFO and the future skills of finance. Podcast host Myles Corson welcomes Simon Bittlestone, CEO of Metapraxis, a financial analytics company, and Andrew Harding, chief executive of Management Accounting at the Association of International Certified Professional Accountants, which was created in 2017 when they brought together the American Institute of CPAs and the Chartered Institute of Management Accountants (CIMA).

Podcast host Myles Corson welcomes Brian Tomlinson, Director of Research, CEO Investor Forum, Chief Executives for Corporate Purpose (CECP), and Marc Siegel, a member of the Sustainability Accounting Standards Board (SASB) and EY partner. Together they discuss the acceleration of ESG, or environmental, social and governance, issues in corporate reporting. Their conversation also considers the increasingly vital role ESG plays in investor communications and what investors are looking for companies to disclose. © 2021 Ernst & Young LLP

Podcast host Myles Corson welcomes Michael Keeler, Chief Executive Officer of LeaseAccelerator, to discuss how technology and managed services are transforming lease accounting. Together, they take a closer look at the challenges, administrative burdens and missed cost saving opportunities of large lease portfolios. The conversation continues with managed services and how technology is helping to automate, harmonize and simplify the leasing process and lease accounting compliance. © 2020 Ernst & Young LLP

Podcast host Myles Corson welcomes Dr. Matthew Bell, EY’s Asia Pacific Climate Change and Sustainability Services (CCaSS) Leader, to discuss his varied career path and key findings from the 2020 EY CCaSS Institutional Investor survey, How will ESG performance shape your future? © 2020 Ernst & Young LLP

Podcast host Myles Corson welcomes Marna Ricker, EY Americas Vice Chair – Tax. They discuss the depth of the US government response to COVID-19 and the impact the 2020 US presidential election will have on the tax landscape and overall economy. Their discussion also analyzes the role that technology has played in tax during COVID-19, and the types of technology and software CFOs and tax executives are seeking out to help them access more data at a faster pace. © 2020 Ernst & Young LLP

Trust is the foundation on which organizations can build stakeholder confidence and active participation with their AI systems. However, in the finance world, one mistake, or the perception of a mistake, can harm an organization’s trust in the technology. How do finance functions build trust into their AI?  Podcast host Myles Corson welcomes Cathy Cobey, EY’s Global Trusted AI Advisory Leader, to discuss how she helps organizations understand some of the new risks that AI brings and how, most importantly, they can start to create the right governance and control mechanisms. They explore the broad definition of AI, and its growing use in the COVID-19 landscape. With AI introducing new risks and impacts that have historically been the purview of human decision-making, organizations need a new framework for identifying, measuring and responding to the risks of AI to make it operational. © 2020 Ernst & Young LLP.

Podcast host Myles Corson welcomes back Paul Brody, EY Global Blockchain Leader, to discuss the evolution of blockchain and how it is enabling seamless transactions and near real-time exchange of information, to evolve into an open, scalable, compliant and secure public transaction system. #betterfinance © 2020 Ernst & Young LLP.

This special podcast episode features an abridged recording of “When Great Technology Meets Great Finance Professionals” a panel discussion from the 2018 Current Financial Reporting Issues Conference hosted by Financial Executives International. The panel, moderated by Myles Corson, included David Fabricant, SVP, Global Record to Report Controller at American Express and Dan Werries, formerly Global Director for Finance Systems, Purchasing Systems and Analytics at the Dow Chemical Company and now VP Information Technology, Corporate Enablement at Intel Corporation. They discuss how integrating technology into the finance function can create more than just immediate efficiencies and cost savings.

Marc Siegel, a member of the Sustainability Accounting Standards Board (SASB), former member of the Financial Accounting Standards Board (FASB) and EY partner, joins podcast host Myles Corson to discuss key trends in corporate reporting. Their conversation takes a closer look at the influence of short-termism on an organization’s long-term value story, the power of shareholder activism, the insatiable consumption of data by investors and other reporting challenges finance executives face today. © 2019 Ernst & Young LLP.  All rights reserved.

Kris Pederson, EY Americas Governance Leader, joins podcast host Myles Corson to discuss strategic and purpose-led transformation and the importance it has in communicating long-term value. ©2019 Ernst & Young, LLP. All Rights Reserved.

Tom Shea, Chief Executive Officer at OneStream Software, joins podcast host Myles Corson to discuss the role of corporate performance management (CPM) solutions in helping CFOs rationalize data and enabling managers across the enterprise make better business decisions. ©2019 Ernst & Young, LLP Limited. All Rights Reserved.

John Murphy, Executive Vice President and CFO at Adobe Inc. joins podcast host Myles Corson to discuss the role of the CFO in enabling digital transformation and its impact on the finance function. Ernst and Young, LLP © 2019.

Host Myles Corson and Chief Data Analytics Officer and Emerging Technologies Leader, Chris Mazzei, discuss the ways in which emerging technologies such as blockchain, artificial intelligence and robotic process automation are impacting businesses and how finance executives are adapting to these changes. ©2018 Ernst & Young, LLP Limited. All Rights Reserved.

EY's Myles Corson and Global Vice Chair of Assurance, Felice Persico, discuss how finance is being redefined, in areas from reporting to auditing, and how finance leaders need to view technology as a tool for creating the finance function of the future.

EY’s Myles Corson sits down with Microsoft Americas CFO Jack Ryder to talk about the evolving role of finance. Together, they discuss integrating real-time data with human analysis as well as Microsoft’s four pillars for finance: People, Prioritization, Partnership and Protection.