CFO Chats with Ignacio Ballester, CFO of Inchcape Americas

Please tell us about yourself and your role.

My name is Ignacio Ballester, and I am the CFO of Inchcape in the Americas region. I look after 14 different countries, from the Caribbean and Central America down to South America, managing the region from our HQ in Santiago, Chile.

What has been your career journey to becoming a CFO?

I always wanted to pursue an international finance career in a big multinational. I’m an accountant by profession and also hold an MBA. When I was about to graduate, I joined a management trainee programme with British American Tobacco. This started my journey of learning by doing, moving around the entire finance department every three months, and gaining experience in a large, listed company operating in emerging markets.

The financial landscape is constantly evolving. What challenges are you currently facing and how are you addressing them?

We are living through pivotal times in finance, and there are a few key trends that are reshaping the role of the CFO.

First is the digital finance transformation. Tools like AI, machine learning, and RPA are enabling us to close the books faster and forecast better. For example, we recently implemented predictive analytics into our revenue forecasting, which has significantly improved our accuracy and made our decision-making more data-driven. This leads to the second point: we are moving from being stewards of capital to being storytellers with data, partnering closely with our commercial teams.

Third is sustainability and ESG. There is a major shift to integrate ESG metrics into our financial strategy, as investors, regulators, and customers demand more transparency. We have begun linking our annual and ESG reports and have even tied executive bonuses to ESG performance metrics like carbon reduction.

Finally, the complex macro environment requires better scenario planning. We are constantly modelling the impact of inflation, foreign exchange, supply chain disruptions, and regulatory changes to protect value and hedge our risks.

How do you think the finance sector will evolve in the next three to five years?

For me, it comes down to a few key leadership principles for the modern CFO. The first is a focus on clarity over control. In today’s unpredictable environment, we love precision, but we need to provide clarity. This means aligning teams on purpose and outcomes and giving them the space to deliver and pivot quickly.

Second is the courage to challenge. Strong CFOs must challenge assumptions, ask the hard questions, and say no when the numbers don’t support the story.

Finally, there is empathy and a strong team culture. In a fast-changing and sometimes lonely remote world, empathy matters. People want meaning, balance, and growth. I spend a lot of time mentoring and developing talent, as I want to give others the same opportunities that were given to me and leave a legacy of future leaders.

What’s the biggest financial mistake you see companies make?

The biggest mistake is not fully cracking the evolution into becoming a strategic business partner. Too many finance functions remain stuck in “bean counting” and ticking boxes, failing to see the opportunity to become a value-creative partner to the commercial teams.

One of our biggest successes has been transforming finance from a pure reporting function into a strategic partnership. Our FP&A teams now sit directly with commercial leaders, participating in product launches, pricing decisions, and strategic investments, working hand-in-hand with them.

How are you navigating the changing regulatory environment?

As CFOs, we need to be agile, curious, and well-connected to pick up on trends and bring them into our scenario planning. The regulatory environment is always changing, whether it’s new ESG reporting metrics, changes to accounting rules, or learning from major frauds.

A particularly important area now is cyber risk. As finance evolves, we have had to take a lot of care and attention to implement new layers of controls to manage this growing threat.

How do you balance the need for financial innovation with the demand for risk management and compliance?

Compliance and the sustainability of the business are non-negotiable. We are more aware now than ever that compliance carries huge value. In today’s transparent world, with high media visibility, a lack of compliance can cause a huge drop in a company’s capitalisation value. Investing in compliance, sustainability, and proactive risk management is money well spent, not an area where you want to save.

How do you approach mentoring and developing the next generation of finance leaders?

We provide platforms for development that emphasise both technical and leadership skills. It’s important for finance professionals today to have a commercial mindset, understanding the full end-to-end business and keeping the customer at the centre of everything.

I also encourage them to see that modern careers are not a straight line. The careers of the future will require experience in multiple industries and different parts of the value chain—from the back office to the front office. We create a safe space for people to be curious and provide opportunities for them to lead in various settings, whether it’s small teams, large teams, country business units, or regional offices.

Reflecting on your experiences, what’s been a memorable insight or takeaway?

The role of a CFO today is broader, faster, and more interconnected than ever before. This is a unique opportunity for us to lead not just the finance agenda, but to have a bigger vision for the entire enterprise. The biggest learning and opportunity for all of us today is to be bold, feel comfortable with ambiguity, and position ourselves as the right-hand person to the CEO in everything we do.

For someone attending an Ortus Club event for the first time, what advice would you give them?

Be curious, courageous, and open-minded. There is always more to be learned in this ever-evolving environment. See every career step as a learning opportunity, both professionally and personally. Have a laser focus on where you want to land in the future, but remain flexible and have options available.