Coworking with Suresh Bhat

Coworking is a weekly segment where we talk to CFOs and other leaders in the finance space about their experiences, their companies, and the larger economy. Let us know if you are – or you know – a CFO we should interview.

Suresh Bhat is the CFO at the William and Flora Hewlett Foundation, a position he’s held since 2017. The foundation has nearly $15 billion in assets and makes grants in areas ranging from environmentalism to the arts.

How would you describe your job to someone who doesn’t work in finance?

Both helping keep a company’s lights on and also helping the company sustain for the long haul. Many people are intimidated by the “money gatekeepers,” but we are here to help our business partners be successful and achieve their goals. When done well, we are “enablers,” not “blockers.”

How do you think the CFO role has changed over the past five to 10 years, both for you, and in general?

CFOs are much more involved in strategy than they used to be—being a thought partner to the CEO and Board is critical for success. CFOs also now have to be really adept at choosing the right systems/tools, not only for the finance function, but for the enterprise as a whole.

Allocation of capital continues to be important because if you get it wrong, it can have devastating consequences. And finally, recruiting high-caliber talent and understanding what motivates them and how to retain them is table stakes.

What's something we can’t guess about your job from your LinkedIn profile?

I am a cinephile. I love movies of all types (action, horror, indie, documentary, rom-com, etc.). My wife and I host an Oscars party at our house every year. Once, we did a faux red carpet, selfie wall, trophies—the whole nine yards!)

What advice do you have for future CFOs?

One, get exposed to as many sub-disciplines of finance and accounting as possible (accounting, corporate finance, investor relations, mergers and acquisitions/corporate development, treasury, tax, data analytics, etc.) Two, be intellectually curious: You’d be amazed at how much people will tell you if you take an interest in their activities. Three, volunteer for projects that may appear to be “unsexy” as they often lead to plum assignments. Four, take calculated risks.

Who’s a CFO you admire or you try to model yourself after?

Ann Marie Petach, former CFO of BlackRock, was someone I worked for and really admired. She was whip-smart, had an incredibly conscientious work ethic, and truly cared about all of the people she led.

If you weren’t a CFO you would be...?

A journalist or a hiking guide. I’ve always had a passion for writing and the outdoors!