Emily Brown of Enesco Explores Risks, Resilience, and AI’s Transformative Role in the CFO's Office

In this episode of Asking Good Questions, host Edward Roske welcomes Emily Brown, CFO of Enesco, for a deep dive into the transformation of corporate finance over the past 25 years. From leveraging technology like multidimensional databases to addressing risks like cybersecurity and supply chain disruptions, Emily shares lessons learned and strategies for success. They discuss the ethical implications of AI, the need for cross-departmental collaboration, and what it takes to future-proof finance departments. Whether you're a CFO, finance professional, or tech enthusiast, this episode offers invaluable insights into the past, present, and future of financial leadership. 

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Transcript

Host Introduction

Edward Roske (00:00.836)
Hello and welcome to Asking Good Questions, the podcast where we dive into the business world's past, present, and future by, well, asking good questions. I'm your host, Edward Roske, and today we are joined by someone who has witnessed the evolution of finance firsthand. Emily Brown, the Chief Financial Officer of Enesco, has been at the forefront of financial leadership for over 25 years. She's had key senior financial roles at Mattel and Enesco. Emily, welcome to the show.

Emily (00:36.54)
Thanks, Ed. Good to be here.

Career Reflections

Edward Roske (00:38.436)
Good. Just wait until the podcast starts, and then we'll see if the "good" maintains. I thank you for taking some time out of your life. Our listeners really, really appreciate it. So, Emily, we're going to go way back in the time machine to the '90s. You’ve had a remarkable career starting back in the VP finance director days at Mattel. That’s where we first met.

Emily (01:11.388)
Good point.

Edward Roske (01:08.58)
I think I first met you in the early 2000s, but you’d been there a while. Yeah. Suffice to say we were at least 20 years younger, 20 years back. Looking back, what are some of the most significant changes that you have seen in the finance area over the years?

Emily (01:29.448)
Interesting question with the changes. Some of the things true today were true then, but I think there’s been an even greater need to connect with the business outside finance and not be in silos. When we first met, the project I was on was integrated with the business side. Today, finance partners with sales, marketing, and operations to understand the risks the business is taking on and the effects of those risks.

Rising Importance of Finance

Edward Roske (02:56.196)
Excellent. What else has risen in importance over the last 25+ years?

Emily (03:12.296)
You're trying to take care of more stakeholders now. It’s not just about returning to shareholders but ensuring we’re taking care of employees, customers, and others.

We also need to keep up with tools. You don’t want to be on the bleeding edge, but you can’t be far behind either. There’s a balance of cost and benefit. Today, I see more people outside finance understanding the financial impact of their decisions and collaborating cross-functionally.

Technology and Process Evolution

Edward Roske (05:43.574)
Let’s talk about the process side. In the early days of Mattel, what did the finance function look like compared to today?

Emily (06:20.078)
It was much more siloed. You had brand finance and operations finance, and even within finance, there was specialization. Today, there’s more effort to ensure people have a robust understanding across functions. Risk management requires understanding upstream and downstream effects of actions.

Edward Roske (07:37.156)
Silos, synergy, integration—all those concepts have lasted. How did emerging technology, particularly enterprise applications in the late '90s and early 2000s, impact your work?

Emily (08:41.992)
The ability to slice and dice data across dimensions and drill down has been transformative. However, data inconsistencies and clarity in terms can still be a challenge. It’s crucial to ensure clean data and standardized usage across teams.

Adopting Change and Overcoming Resistance

Edward Roske (12:29.54)
What kind of resistance did you face when adopting new technologies or changing processes?

Emily (12:49.701)
People love changes they come up with but resist those imposed on them. Time is a big factor. People fear letting go of what they’re good at and learning something new.

Pandemic Impacts on Finance

Edward Roske (20:11.936)
What’s the current state of the finance department at Enesco under your leadership?

Emily (20:25.78)
The pandemic pushed us to go paperless, which improved business continuity planning. We’ve also focused on cross-training, documentation, and preparing for worst-case scenarios. These changes have allowed team members to grow and adapt.

Edward Roske (23:50.31)
Do you financially plan for scenarios like supply chain issues?

Emily (24:08.296)
Yes, we focus on communicating with customers, updating expectations in real time, and encouraging digital solutions like Shopify for brick-and-mortar stores.

The Role of Technology

Edward Roske (27:44.76)
Can you share how technology has helped you stay ahead of the industry?

Emily (28:05.096)
Data interfaces with freight forwarders have been crucial for managing supply chain challenges. However, we still see opportunities to improve, such as automating data sharing with small retailers.

Future of the CFO Role

Edward Roske (31:18.432)
How do you see the CFO role evolving over the next 5–10 years?

Emily (31:37.38)
CFOs need to be better at perceiving risks and preparing for “what-ifs.” Risk management is becoming a bigger part of the job in an increasingly volatile world.

AI and Ethics

Edward Roske (34:10.492)
How do you see the ethical issues of AI training data being addressed?

Emily (36:19.406)
AI systems need to circle back and get consent from those whose data they’ve used. It’s not just about remuneration but also about securing permission.

Edward Roske (38:07.834)
Is AI adoption worth the effort?

Emily (38:11.912)
It’s better to leverage shared knowledge and pilot programs. Individual companies may not find it efficient to figure out AI on their own.

Closing Thoughts

Edward Roske (47:16.934)
Thank you for sharing your insights, Emily. Any final thoughts for our listeners?

Emily (47:34.056)
What we do is important, and what others do is important too. Partner with your partners.

Edward Roske (47:57.25)
Wise words to live by. Thank you, Emily, and thank you to our listeners. Until next time, keep asking those good questions.

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