Empowering Decision-Making with Strategic Financial Management
The capability of financial management to deliver critical information that supports informed business decision-making is a fundamental driver of organizational success. The primary role of the entire finance function has evolved into that of a strategic partner for management, moving beyond simply supporting day-to-day operations. Similarly, it is essential for business executives to effectively interpret and apply financial information in leading business strategy and operations.
Aalto EE offers a diverse range of financial management training programs tailored to various organizational levels and specific needs. Our programs provide valuable insights into the evolving roles and responsibilities of financial professionals and significantly enhance crucial competencies essential for achieving organizational objectives. Key focus areas include deepening business understanding, exploring the transformative potential of digitalization, data analytics, and artificial intelligence in finance, and mastering tools for effective communication and influencing. Participants will learn to increase their impact as a strategic partner for the management within their business.
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February 4, 2025
Seminars
Hybrid
FinnishRead Customer Experiences
Estimated Study Time: 30 minutes
Meet Our Faculty
Sami Torstila
Sami Torstila is an Associate Professor of Finance and former Head of the Department of Finance (2014–2016) at Aalto University School of Business. He specializes in corporate finance and mergers and acquisitions.
Torstila is also an Associate Partner at NAG Group, a management consultancy, specializing in projects related to mergers and acquisitions and portfolio strategy. Professor Torstila is a member of the Nasdaq Helsinki Disciplinary Board and of the Asset and Liability Management Committee of the City of Helsinki.
He was a visiting scholar at Haas School of Business, UC Berkeley, in 2009–2010, 2016–2017, and 2023–2024. In 1996–1997, he was an investment banking analyst at Goldman Sachs in London. At Goldman, he worked with mergers and acquisitions as well as initial public offerings.
Sami Torstila received a D.Sc. degree in Finance in 2000 and an M.Sc. degree in Finance with honors in 1996, both from Helsinki School of Economics. He also received an LL.M. degree with a specialization in Tax Law in 1999 from the University of Helsinki.
Matti Suominen
Matti Suominen is Professor of Finance at Aalto University School of Business.
Suominen specializes in information economics in financial markets, market microstructure and corporate finance.
Suominen has previously worked as a consultant at the European Corporate Finance Practice of McKinsey & Co. and as a Chief Dealer in the Options and Futures Markets in Finland. From 1997 until 2006 he was in the full-time faculty at INSEAD, working first as an Assistant Professor and later as an Associate Professor of Finance. Although already also at the Aalto University, between 2006 and 2015 he has continued to work with INSEAD as an Adjunct Professor of Finance or as a Visiting Professor of Finance.
Suominen is actively involved in management consulting for financial institutions and executive education. He has taught in the MBA, PhD, and executive education programs. He has also taught in several company specific programs worldwide.
Matti Suominen did his PhD in Financial Economics in 1997 at the University of Pennsylvania, where he has also worked as a Visiting Associate Professor at Wharton.
Teemu Malmi
Teemu Malmi is a Professor of Accounting and Head of the Department of Accounting at Aalto University School of Business. Also, he has previously been the Chairman of the Board at Aalto University Executive Education Ltd. and Sannäs Manor Ltd.
Professor Malmi specializes in management systems, strategy implementation, and cost and profitability accounting. He teaches frequently in a variety of Executive Programs and has served as an advisor to a large number of companies from various different industries: IT, electronics, energy, finance, food, health care, media, metal and engineering, paper and pulp, pharmaceuticals, rental services, retail, telecom and transportation/logistics and the public sector.
Teemu Malmi holds a Ph.D. in Accounting and Finance from The Helsinki School of Economics, which was merged into Aalto University in 2010.
Thomas Taussi
Thomas Taussi received his PhD from Aalto University School of Business in 2023.
In his dissertation, he studied corporate risk management (including the introduction of risk management systems and the interaction between formal and informal risk work).
In addition to his doctoral studies at the Department of Accounting, he has gained teaching experience from various university courses, from elementary to advanced accounting, and from the guidance of bachelor's thesis seminars. He has also gained experience in teaching at Aalto University Executive Education.
Taussi graduated with a master's degree from Aalto University School of Business in 2016, majoring in accounting (with an emphasis on management accounting) and minoring in finance. He was a semester exchange student at the Wirtschaftsuniversität Wien, studying finance, strategy, and innovation management. Taussi has work experience as an analyst in the private equity industry (Taaleri, Sparkmind VC).
In addition to management accounting and control systems, Taussi has acquired extensive knowledge of economic and organizational theories. He actively follows the field of distributed master accounting/blockchain technology and its various applications (e.g. cryptocurrencies). He has also participated in the risk management group for the development of the ISO 31,000 risk management framework organized by the Finnish Standards Association.
Vesa Puttonen
Vesa Puttonen is a Finnish business economist and Professor of Finance at Aalto University School of Business. He is one of Finland's most well-known experts in investment and financial markets.
He worked at the Vaasa University of Applied Sciences, Turku School of Economics, and the Academy of Finland. In addition, he was a Visiting Scholar at New York University, Stern Business School (USA). He specializes in strategic finance, risk management, portfolio management, sustainable investments and marketing financial services.
Also, he worked in corporate management positions such as Managing Director at Conventum Fund Management Ltd, and Senior Vice-President, Equity Products & Markets at the Helsinki Stock Exchange. Previously, he was Chairman of the Board of Directors at VR Corporation and has acted as a member of the Board of Directors in various organizations and listed companies. Currently, he is a member of the investment committee of SITRA (The Finnish Innovation-Fund) and a member of the Board of NASDAQ Nordic Foundation.
Professor Puttonen has published several books & articles on strategic finance, risk management & behavioral finance. His publications appear in the Financial Analysts Journal, Financial Management, Journal of Banking and Finance, Management Science, Journal of Asset Management and Journal of Financial Services Marketing. He received his Doctorate at the University of Vaasa in 1993.
Mirel Leino-Haltia
Mirel Leino-Haltia is a professor of practice at Aalto University. She is also an experienced board professional and has also served as Chairman of the Board and Chairman of the Audit Committee.
Her particular interests include corporate governance, ESG and responsibility, risk management, financial services regulation and compliance.
Seppo Ikäheimo
Seppo Ikäheimo is Professor of Corporate Governance at Aalto University School of Business.
He specializes in compensation systems, ownership, investor relations, board of directors and company valuation.
Professor Ikäheimo has frequently acted as a member of the arbitral tribunal in minority redemption cases and has provided an expert opinion in several legal cases. He has served as an advisor concerning investor relations, compensation systems, and board work.
In addition, he is actively involved in developing accounting and corporate governance-related legislation and guidance.
Emilia Bunea
Emilia Bunea is a leadership educator and educational technology entrepreneur. She has two decades of C-suite experience with global corporations in finance.
In 2021 Emilia wrote and produced “Crossroads Life,” the world’s first cinematic management case study, comprising a film and a written case based on real events. The movie has received several film awards, including the Award of Excellence from IndieFest, the Special Jury’s Award from the Hague Global Film Festival, and the Best Business Film Award from the Helsinki International Educational Film Festival.
Emilia’s academic interests include the role of ”serious leisure” in leadership identity development. She wrote several scholarly and practitioner articles on this topic and delivered a widely-acclaimed TED talk at London Business School. She has lectured on leadership-related topics in over a dozen countries.
Emilia Bunea has a Non-Executive Director Diploma from the Financial Times Board Director Programme and is a CFA charter holder. She earned her Ph.D. in Management at Vrije Universiteit Amsterdam in 2020.
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Gaining a Competitive Edge Through Financial Expertise
We deliver a diverse portfolio of training solutions designed for financial executives and other key financial management professionals, including business controllers, financial analysts, and other pivotal employees across all organizational levels. Our training programs enable participants to modernize their organization's financial operations to meet the demands of the future. Participants will also develop their individual skills to assume more strategic roles as influential business partners for executive management.
Bringing Clarity and Confidence to Decision-Making Processes
To make well-informed and successful decisions on critical matters such as investments and pricing strategies, executives need a solid grasp of fundamental financial principles and their key applications. Basic economic literacy and a clear understanding of key economic indicators play a decisive role in effective strategic planning, as well as in evaluating future alternatives and defining the critical success factors for a business.
Optimizing Operations and Deepening Expertise in Finance
As global competition intensifies, organizations recognize continuous operational streamlining as vital for maintaining their competitive edge. Financial management is also expected to actively participate in the ongoing streamlining of its functions. In many organizations, core financial management tasks have been outsourced, leading to the growth of global service centers in regions with lower labor costs.
While focusing on operational efficiency, financial functions are also increasingly expected to make a more profound and strategic contribution to supporting and developing core business activities.
The Digital Transformation of Financial Management and Automation
Digitalization has rapidly reshaped business operations, creating innovative service and business models alongside unprecedentedly effective methods and tools for value creation. Digital transformation has also significantly impacted financial management functions, leading to substantial reforms in practices. The pace of this change continues to accelerate. The widespread adoption of automation and robotic process automation (RPA) as well as artificial intelligence has significantly expedited data management and drastically reduced the incidence of human errors. Digitalization is enhancing fundamental financial management tasks, improving accuracy, and boosting overall quality. The ability to work independently of time and location has also increased the flexibility of work processes.
While the digitalization of financial management and the automation of many routine tasks understandably raise concerns among financial managers, they also present significant opportunities for financial management experts to leverage their expertise in solving more complex problems, thereby generating greater value for businesses. As automation reduces the need for human input in routine financial tasks, it frees up valuable resources for in-depth data analysis and integration, enabling a genuine focus on supporting core business operations and evaluating emerging commercial opportunities.
However, there is increasing pressure to develop the essential skills and competencies required to thrive in this evolving landscape. Automation is driving significant changes in the job descriptions and required skill sets of financial managers and professionals. A new mindset characterized by adaptability and openness to embracing new work methods and changing practices is crucial. Both organizations and individuals bear the responsibility for developing the necessary processes and know-how to meet the growing expectations placed on an organization's financial management function.
Emerging Competency Requirements for Modern Financial Management
As the role of financial management undergoes significant transformation, traditional job descriptions and skill requirements are being redefined. A critical skill is the ability to comprehensively understand the intricate relationship between financial performance and the performance of various business functions across the organization. This, in turn, necessitates closer collaboration between financial management and other business units, with financial management experts primarily supporting strategic decision-making and operational management. Moving beyond the traditional role of merely producing reports and vast quantities of data for decision-makers, the finance function is becoming an active user and insightful interpreter of information. The focus is shifting towards proactively identifying and analyzing future opportunities rather than solely reporting historical data.
The landscape of financial management and financing is increasingly shaped by a growing number of international rules and regulations. Financial experts must proactively upgrade their skills and knowledge regarding topical issues such as taxation, transfer pricing, and international accounting standards (IFRS).
While the identification and management of financial risks require a strong understanding of regulations and international legislation, other critical business risks and their effective management are receiving greater emphasis in the daily work of financial and financing experts. To mitigate potential negative impacts, financial management needs to go beyond simply identifying business opportunities and actively identify potential risks and uncertainties that could disrupt business activities. This requires continuous skill development, active monitoring of industry trends, and close attention to international economic cycles and political developments.
As the role of the finance function becomes increasingly strategic, financial management and its experts will require deeper business acumen and a broader understanding of the key drivers of commercial success. Numerical skills alone are no longer sufficient; a deeper insight into the underlying causes and effects behind financial figures, as well as the formation of phenomena such as customer value, is essential.
As the responsibilities of financial experts evolve, collaboration, interaction, communication skills, and the ability to effectively shape opinions are becoming increasingly important. Financial experts need to collaborate effectively with other departments and colleagues to gather and analyze relevant data from diverse sources. The crucial ability to discern essential information from vast datasets, summarize it concisely, and present it intuitively and persuasively to management and colleagues is taking center stage.
The finance function serves as an internal service provider with the fundamental task of promoting and supporting the overall success of the enterprise. Consequently, an exceptional service-oriented mindset will be an increasingly critical requirement for the financial professionals of the future.