SKF – A tailored programme for senior finance executives

The Challenge: SKF Group is a leading global supplier of bearings, seals, mechatronics, lubrication systems and Services. SKF offers a broad range of internal training for its employees in the areas of finance and business control. In 2007, a competence mapping was conducted among the most senior financial professionals. This mapping showed that the business performance would improve if competencies in some areas were enhanced. A tailored development programme was needed, challenging the company’s finance executives to develop their skills within strategy deployment, change management, risk management and service transformation.

The Engagement: Together with us, the SKF Group Finance Academy designed a development programme to enhance the knowledge of the participants on current topics within the academic world. The programme was divided into three different modules,delivered at different locations. The first module took place in Gothenburg with a focus on strategy development. The second module was run in Lansdale, Pennsylvania, USA, headquarters of SKF in North America. Here, the focus was on Change Management. The third module gathered the participants at the Asian group headquarters in Shanghai,where the focus was Customer Service.

The Result: The SKF Finance Executive Programme has been a success, and continues to run today in its fourth year (2012). For each new cycle, the contents are updated to reflect current challenges. Participating controllers and financial specialists have developed their capacity to act pro-actively, to take on new responsibilities in daily business decisions. They have acquired new knowledge and have learnt to apply it in their professional practice, which also enhances the learning process of others within SKF. The programme has become a tool in creating a competitive edge for SKF within the group functions of finance and business control.

Ms. Evelyne Carlod (left) had this to share about the SKF Finance Executive Programme

“The first two days about strategy raised many questions. Accounting people are rational and analytical and our work is controlled by guidelines, taxes and procedures. We need to develop strategic thinking. Step by step, I realized that there were several ways to manage business. The program was also a great opportunity to network with colleagues from our global operations”

Evelyne Carlod is Finance Manager at SKF-Transrol in Chambéry, France and Business Controller for the Linear Motion Business Unit.