What keeps a CFO up at night - a woman leader’s perspective

In the high-stakes world of finance, being a Chief Financial Officer comes with a great deal of responsibility and pressure – even more so as a woman in a male-dominated field. From managing a business’s financial standing while navigating a daunting compliance environment, the challenges are immense. Despite these hurdles, there are many shining examples of CFOs who have what it takes to charter a way forward for themselves and their teams and to make a worthy contribution towards building futureproof brands.

For Judith Groenewald, Chief Financial Officer at Santam Shared Services, leading with empathy is key to succeeding in a highly competitive and ever-evolving industry. As part of the executive team at the helm of one of the country’s leading names in insurance, she believes that her natural abilities as a caregiver have been pivotal to her own career journey as well as the resilience of her team.

Strong starts and stepping-stones

This year marks her 17^th year in the financial industry, having started as an audit trainee at Deloitte. In 2009, at the age of 23, she took what she describes as a leap of faith and exited her job to study full-time towards becoming a qualified Chartered Accountant.

Since then, fueled by determination and a renewed drive to realise her potential as a financial expert, she climbed the corporate ladder, later working as a Senior IT Finance Manager at Old Mutual and later, a Senior Finance Manager at Sanlam. She joined Santam as Head of IT Finance and Governance in 2020 – during the height of the pandemic – and has since progressed to fulfil her current role as CFO, of the Santam Shared Services business division.

Leadership in an era of change

When asked what keeps a CFO up at night, Groenewald said that one of her chief concerns is consistently finding ways to make a positive impact within her sphere of influence. More recently, the effects of the prolonged economic downturn and its impact on consumer pockets has also shed light on the importance of adapting to serve the evolving needs of the South African market.

“Thankfully, as far as being a positive influence on my team and colleagues is concerned, Santam continues to provide the support and assistance needed to ensure that the office environment is a space of transparency and openness. This has given me the foundation I need to foster a workplace culture in which people can openly share their views and opinions, without fear of judgement or discrimination. As my father always said – ‘we don’t always have to agree, but let’s strive to always understand each other.’

In terms of the state of the economy, Santam has made great strides towards making insurance more practical and accessible to South Africans. “I’m proud to be part of a business that is focused on the needs of its clients,” she says.

Mom-boss advice for aspiring finance professionals

Like many other women leaders at Santam, Groenewald is also a mother, who believes that balancing the high-level demands of her career with her family responsibilities and personal wellbeing is important. To preserve her work-life balance, she prefers not to take work home. Instead, during peak periods she works late at the office and afterwards, returns home to what has become her “safe space.”

So, while crunching the numbers, leading her team through turbulent times and mitigating the risks of a volatile marketplace are just a few of her fortes, in her personal time she is no stranger to the world of K-drama, coupled with hair and nail makeover sessions with her daughter. Her mother, whom she describes as a “woman of grace, beauty and strength,” remains her greatest inspiration and someone she emulates in both her personal and professional lives.

Concluding with a few words of inspiration for aspiring women leaders in the finance industry, Groenewald says that with perseverance, a can-do attitude and unwavering faith in your abilities, anything is possible. “Trust that where you are is exactly where you need to be, but always keep your eyes fixed on your vision for the future.

“Embrace challenges as growth opportunities, and never shy away from seeking knowledge and new perspectives. As women, it's through the relentless pursuit of excellence that we can break barriers and achieve our full potential. Remember, every setback is a setup for a comeback, and every challenge is a moment to validate your true, inner strength."