CIMA’s new President wants to see a change in the definition of ‘value’

Finance professional have a vital role in making organisations stronger and more resilient in the post Covid-19 world, according to incoming CIMA President Nick Jackson.

Acknowledging the impact the pandemic is having on the world, he said: “Although events like Covid-19 are thankfully rare on a global scale, they do present opportunity to make positive changes. We must be leaders in showing that change is not something to be afraid of.”

Jackson felt that collectively the profession can do more, helping to reimagine what finance provides and how it works.

He wants to see management accountants deliver broader stakeholder benefits, that take into account the social, environmental and economic value. The 87th CIMA President emphasised finance professionals need to, if necessary, lead their organisations towards the adoption of more sustainable, responsible business practices.

Jackson stressed: “We have to move beyond simply providing insight to the numbers, to bringing more value through recommendations and follow-up action. We need to recognise that the success of a business as exemplified by the figures on a balance-sheet, have many other elements – tangible and intangible.”

He pointed out that organisations’ operating models are made up of people, processes, and supply chains. These exist in increasingly dynamic environments, and are, he said, answerable to a much broader audience of customers, suppliers and wider society.

Jackson wants to see the profession broaden its perspective from a focus on shareholder value, to engage with the idea of stakeholders and their different definition of ‘value’.

Graduating from Exeter University with a degree in education, he became a CIMA member in 1992, and a fellow in 2008. He was co-opted to CIMA council in recognition of his role in promoting the value of CIMA for public sector financial professions while at HM Treasury (it is where PQ magazine first met him!). In 2013 Jackson became vice-chair of the professional standards and conduct committee, and a year later was elected to CIMA’s executive committee.

Jackson currently works for software technology company Oracle, which he joined on 2016. His careers also includes stints at EY, Capgemini, the Ministry of Justice and Ofsted.