EMC Insurance’s Ann Collins Named CFO of the Year: A Sign of Shifting Priorities in Corporate Finance
Ann Collins, Executive Vice President and CFO of EMC Insurance Companies, has been recognized as the 2026 Business Record’s Deloitte CFO of the Year. This isn’t just a personal achievement; it reflects a broader trend within corporate finance – a move towards proactive financial stewardship, data-driven decision-making, and a focus on long-term resilience. Collins’ success story offers valuable insights into the skills and strategies that will define the future of the CFO role.
The Rise of the Strategic CFO
Traditionally, the CFO was primarily focused on reporting and compliance. Today, the role is evolving into a strategic partner to the CEO, deeply involved in shaping the company’s overall direction. Collins’ nomination highlights this shift. According to EMC President and CEO Scott Jean, she’s been “instrumental in driving EMC’s profitability” through innovative underwriting and investments in technology. This isn’t about simply crunching numbers; it’s about using financial insights to create a competitive advantage.
This trend is supported by recent research from Deloitte’s own “The Future of the CFO” report, which emphasizes the increasing importance of skills like strategic thinking, data analytics, and business partnering. Companies are looking for CFOs who can not only manage risk but also identify opportunities for growth and innovation.
Data and Technology: The New Cornerstones of Financial Leadership
Collins’ success at EMC is directly linked to her championing of data and technology. The company has seen significant improvements in profitability and capital adequacy under her leadership, fueled by innovative underwriting approaches and data-driven insights. This aligns with a wider industry trend.
Did you know? A recent study by Gartner found that organizations using advanced analytics are 33% more likely to exceed their financial targets.
The ability to leverage data analytics isn’t just about implementing new software. It requires a fundamental shift in mindset – a willingness to embrace experimentation, challenge assumptions, and continuously refine financial models. Cloud-based financial planning and analysis (FP&A) solutions, like those offered by Anaplan and Workday, are becoming increasingly popular, enabling CFOs to access real-time data and collaborate more effectively with other departments.
Resilience and Risk Management in a Volatile World
The past few years have been marked by unprecedented economic uncertainty – from the COVID-19 pandemic to geopolitical instability and rising inflation. Collins’ ability to navigate catastrophe losses and maintain strong reserves at EMC underscores the importance of robust risk management.
Pro Tip: Stress testing financial models under various scenarios is crucial for identifying vulnerabilities and developing contingency plans. Scenario planning should be a regular part of the financial forecasting process.
Companies are increasingly adopting sophisticated risk management frameworks, such as COSO (Committee of Sponsoring Organizations of the Treadway Commission), to ensure they are prepared for unexpected events. Furthermore, Environmental, Social, and Governance (ESG) factors are becoming increasingly important in risk assessments, as investors and stakeholders demand greater transparency and accountability.
Beyond the Balance Sheet: The CFO as a Community Leader
Collins’ involvement in the Des Moines Symphony Association, Adel DeSoto Minburn Community Schools, and Adel First Christian Church demonstrates a growing trend of CFOs taking on leadership roles in their communities. This reflects a broader recognition that businesses have a responsibility to contribute to the well-being of society.
This commitment to community engagement can also enhance a CFO’s professional development, providing opportunities to hone leadership skills, build relationships, and gain new perspectives. It also reinforces the importance of ethical leadership and corporate social responsibility.
FAQ: The Future of the CFO Role
- Q: What skills will be most important for CFOs in the next 5-10 years?
A: Strategic thinking, data analytics, technology proficiency, communication, and leadership. - Q: How is technology changing the CFO role?
A: Technology is automating routine tasks, providing access to real-time data, and enabling more sophisticated financial analysis. - Q: Is risk management becoming more important for CFOs?
A: Absolutely. The increasing volatility of the global economy requires CFOs to be proactive in identifying and mitigating risks. - Q: What is the role of ESG in corporate finance?
A: ESG factors are becoming increasingly important in investment decisions and risk assessments. CFOs need to understand and report on their company’s ESG performance.
Ann Collins’ recognition as CFO of the Year is a testament to her exceptional leadership and financial acumen. Her story provides a glimpse into the future of the CFO role – a future defined by strategic thinking, data-driven decision-making, and a commitment to long-term resilience.
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