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Grooming Yourself for an Executive Finance Role

Grooming-Yourself-For-an-Executive-Finance-Role-in-Private-Clubs

The role of Chief Financial Officer (CFO) in the private club industry has evolved significantly, requiring a blend of executive leadership, financial acumen, and strategic foresight. However, many clubs lack a clear succession plan, leaving a thin pipeline of talent ready to step into the CFO role. Complicating matters, job titles do not always reflect the actual responsibilities performed — some with the CFO title lack true financial strategy expertise, while many controllers or directors of finance operate at a more advanced level than their title suggests.

To bridge this gap and build a stronger talent pipeline, professionals must take proactive steps to elevate their expertise and executive presence. Here are five ways to groom yourself for an executive finance role in a private club.

1. Expand Beyond Accounting to Financial Strategy
A strong CFO must go beyond accounting fundamentals and possess financial foresight. To elevate your role:

  • Build expertise in capital planning, financial modeling, and forecasting. Take on projects that involve multi-year financial planning and cash flow projections. Volunteer to work on capital projects that require financial structuring, such as renovations or new amenities at your club.
  • Understand long-term financial health indicators beyond budget variances. Familiarize yourself with key performance indicators (KPIs) like net available cash flow, capital reserves, and dues dependency ratios. Attend workshops or courses focused on financial sustainability specific to nonprofit membership organizations, if you are at a member-owned club.
  • Gain experience in capital project funding and financial stewardship. Work with your club’s financial institutions to understand loan agreements, reserve funding strategies, and investment policies. Take an active role in discussions about funding major club improvements and sustainability initiatives.
  • Learn how to communicate complex financial data to key stakeholders in a way that drives strategic decisions. Develop the ability to translate financial insights into actionable recommendations by using real-world examples and visual aids like dashboards and trend analyses.

Many clubs still conflate accounting and finance. By positioning yourself as a financial strategist rather than a transactional accountant, you can bridge that gap and add value at a higher level.

2. Strengthen Leadership and Executive Presence
A CFO is not just a numbers expert but an essential part of the leadership team. Clubs need financial professionals who can confidently engage with Boards. To establish yourself as an executive:

  • Develop the ability to present financial information clearly and persuasively. Focus on distilling complex data into key takeaways, using visuals like charts and graphs for clarity, and tailoring your message to your audience. Ensure financial reports are actionable by providing context, avoiding jargon, and linking data to strategic outcomes.
  • Engage in discussions with accomplished individuals and board members. Demonstrate financial expertise by leading conversations about reserve fund management, financial risk assessment, and capital funding strategies. Prepare thoroughly for the finance committee and board meetings to instill confidence in your recommendations.
  • Establish yourself as an influential advisor by proactively guiding strategic discussions. Initiate conversations about financial trends affecting the industry, such as increasing labor costs and capital investment planning.
  • Be proactive in decision-making by analyzing financial data to anticipate challenges and opportunities. Instead of reacting to variances after the fact, identify potential financial risks early and propose solutions before they impact club operations.

Executive presence is more than just holding a leadership title — it’s about being recognized as a key decision-maker whose insights and perspectives shape the direction of the organization. To cultivate a strong executive presence, focus on refining your communication style to be clear, persuasive, and impactful. Confidence plays a crucial role — project authority through your posture, tone, and the way you engage with colleagues, stakeholders, and leadership teams. Additionally, go beyond the numbers by providing strategic insights, connecting financial data to broader business objectives, and demonstrating a deep understanding of the organization’s goals. A leader with executive presence not only delivers information but also inspires trust, influences decisions, and drives meaningful outcomes.

3. Seek Education Beyond the Club Industry
Many private club finance professionals rely on industry-specific resources such as HFTP and CMAA. While these organizations provide valuable insights, advancing to an executive level requires a holistic approach and looking beyond the club industry. Consider:

  • Attending executive leadership programs or nonprofit financial management courses. Universities and business schools offer specialized courses on financial leadership, strategic thinking, and governance in member-driven organizations.
  • Developing presentation and public speaking skills through organizations like Toastmasters. Confidence in public speaking is crucial for engaging with boards, committees, and club members.
  • Expanding financial expertise through nonprofit finance and investment strategy development. Programs focused on endowment management, donor stewardship, and nonprofit capital funding strategies can deepen understanding of financial sustainability.
  • Learning negotiation and leadership skills through executive education programs. Courses on conflict resolution and leadership coaching can help you navigate challenging board dynamics and decision-making processes.

To operate at an executive level, you must develop a broad business perspective that extends beyond private clubs. This includes gaining a deeper understanding of finance principles, economic trends, and strategic leadership. Exposure to nonprofit associations, hospitality, and real estate finance can provide insights into capital investment, operational efficiencies, and financial sustainability. Seeking out cross-industry education and professional networks will help broaden your strategic thinking and adaptability in complex financial environments.

4. Develop a Strong Network and Find a Mentor
While attending industry events is valuable for networking, it may not always provide exposure to advanced financial leadership. Many club finance professionals find that deeper financial expertise is often gained through engagement with broader business and finance communities. Seeking mentorship from financial leaders from different industries can provide fresh perspectives and elevate strategic thinking beyond the club finance sphere.

5. Proactively Seek Out Opportunities for Growth
If you aspire to be an executive, you must actively create opportunities to develop the right skills. Consider:

  • Volunteering for strategic projects at your club. Take on initiatives that involve multi-department collaboration, such as implementing reserve funding policies, evaluating long-term capital plans, or managing financial risk assessments.
  • Requesting exposure to board meetings, financial negotiations, and executive decision-making. Ask to be included in discussions about member assessments, funding reserves, and financial reporting best practices.
  • Learning how to manage and mentor finance teams to develop future talent. Identify high-potential staff within your department and offer coaching on the areas that you have already mastered.
  • Exploring opportunities at clubs with larger finance teams or more complex financial structures. If your current club does not provide the experience needed to advance, consider forming mastermind groups with finance professionals at other clubs to exchange insights, discuss financial challenges, and learn from peers. This collaborative approach can provide valuable exposure to different financial models and leadership styles before making a move to a more complex club environment.

If your current club doesn’t offer room for growth, seek external learning experiences or, explore positions at another club that will challenge and develop your skills.

Final Thoughts
The private club industry must take a more structured approach to financial leadership development, but professionals can also take ownership of their growth. By expanding financial expertise, strengthening executive presence, seeking education outside the industry, building a network, and proactively seeking leadership opportunities, finance professionals can position themselves as the next generation of CFOs in private clubs.

HFTP – Clubs Online – March 2025

Michelle Riklan is a career strategist, consultant, and search executive with KOPPLIN KUEBLER & WALLACE, a consulting firm providing executive search, strategic planning and data analysis services to the private club and hospitality industries. Michelle can be reached at (908) 415-4825 and at Michelle@kkandw.com.

Grooming Yourself for an Executive Finance Role2025-03-24T17:41:22+00:00

The Future of Pastry: Adapting to a Changing Sweet Tooth

The-Future-of-Pastry-Adating-to-a-Changing-Sweet-Tooth-in-Private-Club-Kitchens

Sugar is America’s most addictive ingredient, yet dessert sales continue to decline each year. This shift may be due to the rise of sweetened coffee drinks, smoothies, and alcoholic beverages replacing traditional desserts.

For today’s Executive Chef, justifying a pastry chef’s position—or even budgeting for a dedicated pastry shop—requires a stronger business case. Industry trends demand a strategic approach, especially when considering reduced demand. Forward-thinking leaders recognize that the future isn’t the past, and those who adapt attract investment.

The Changing Kitchen Landscape
Until the early 2000s, most kitchens followed a traditional layout, with standard stations like Cold, Butchery, Hot, Purchasing, Banquets, and Pastry. These structures persisted due to tradition and the limited availability of prepared products. But as talent and convenience foods reshaped the industry, kitchen designs evolved.

Real estate within a kitchen is costly, making space allocation a constant challenge. The focus initially shifted to butchery, then purchasing and refrigerated docks. Eventually, pastry shops, including dedicated chocolate rooms and bakeries, were also reassessed. Many kitchens built 30 years ago have since repurposed these spaces, as outsourcing became more cost-effective.

I experienced this firsthand in 2004 while working on a project in Tokyo. Tasked with cutting $300,000 in kitchen equipment, I quickly realized that with a single oven costing $35,000, this required drastic reductions in services, square footage, and specialized equipment.

Shifting Eating Habits
Today, members satisfy their sugar cravings through coffee shops rather than plated desserts. Starbucks reports that its top-consumed ingredients are sugar and milk, with sweetened drinks replacing traditional cookies and breakfast pastries. Smoothies, particularly popular with teenagers, have also taken a larger share of the market. Alcohol, too, has become a substitute for classic desserts like pie, cake, and chocolate.

When dining out, guests prioritize appetizers, soups, salads, and entrées. By the time dessert rolls around, they feel full, and a second glass of wine often provides a more appealing form of indulgence.

Even menu placement reflects this shift. Drinks and entrées are assumed parts of the experience, but dessert is an afterthought. How often does a server hesitantly ask, “Does anyone have room for dessert?” The phrasing itself implies excess. If a dessert is ordered, it often disrupts kitchen workflow, further discouraging its promotion.

Talent and Cost Considerations
In 1993, Executive Pastry Chef Tom Vaccaro at the Waldorf Astoria predicted that high-quality, convenience-driven pastry products would change the industry. He wasn’t talking about fully pre-made pastries, but rather versatile components—like laminated dough and short-dough tartlets—that allow chefs to create artisan-quality products more efficiently. Before these innovations, making such items from scratch was expensive and labor-intensive.

By 1999, I was already advising our pastry chef at The Ritz-Carlton to diversify his skill set. Even at the chain’s largest hotel, his salary was constantly scrutinized. While his talents were valued, ownership saw labor costs as the key to profitability. In 2000, Ritz-Carlton eliminated the corporate pastry chef position entirely. For many operators, pastry is viewed as discretionary rather than essential when budgets tighten.

This is why, during club chef searches, candidates are often asked to prepare a pastry item as part of their tasting. While they may not have advanced pastry skills, they should at least be comfortable executing basic techniques.

The Convenience Evolution
Convenience isn’t about one-stop shopping—it’s about reducing labor costs. Artisan producers around the world have stepped in to provide high-quality components, allowing kitchens to focus on their specialties rather than producing everything in-house.

As a chef committed to scratch cooking, my pastry chef and I regularly evaluated where our efforts were best spent. We refused to use prepackaged, ready-to-serve products but acknowledged when outside vendors could provide superior ingredients or components. Smart chefs know their best suppliers, understand their products, and apply them strategically.

The key lesson: Don’t buy what you can make better. But if everything is outsourced, talent leaves, and the kitchen loses its identity.

The Role of Pastry in Culinary Identity
Pastry plays a critical role in defining a kitchen’s image. I always valued it because it often bookends a guest’s experience—first with breakfast pastries, then with dessert. Many American kitchens don’t excel in breakfast pastries, yet they set the tone for the entire day.

On buffets, individual portions ensure that every guest gets the intended composition of dessert, sauce, garnish, and finishing touch. This level of precision creates a more consistent and refined experience than slicing from a large cake or pie.

As an Executive Chef, I championed pastry’s importance. But who would support the extra labor costs? That’s the challenge for any chef managing a kitchen budget. The business case must be strong.

Take ice cream, for example. It’s universally loved, yet many kitchens lack a proper plan for it. Most members enjoy sweets—whether they drink them or eat them. Every celebration features them. The emotional case is easy to make, but the operational reality requires commitment.

For every Executive Chef, there is a cost to bringing joy to the table. That cost must be protected and, ideally, reinvigorated.

Club + Resort Chef – March 2025

Lawrence T. McFadden, CMC, ECM is a food and beverage training consultant and search executive with KOPPLIN KUEBLER & WALLACE, a consulting firm providing executive search, strategic planning and data analysis services to the private club and hospitality industries.

The Future of Pastry: Adapting to a Changing Sweet Tooth2025-03-20T18:52:49+00:00

CMAA Governance & Leadership Symposium

CMAA Virtual Governance & Leadership Symposium November 2025

DETAILS & REGISTRATION  |  CLICK FOR OUR CONTACT FORM TO BOOK A CONSULTATION

Prepare your club’s elected leadership for success in 2025. Invite your Board Members to attend one of CMAA’s Governance & Leadership Symposiums. Available virtually and scheduled throughout the year for your convenience, these one-day symposiums bring together the GM/CEO/COO and their club’s elected leaders for cooperative education.

CMAA Governance & Leadership Symposium2025-03-13T19:11:59+00:00

Governance Insight – Board Responsibilities & Onboarding

Governance-Insight-Board-Responsibilities-&-Onboarding

In the world of private clubs, success is less dependent on better facilities or premier locations, but more on the unseen architecture of governance that underpins everything members do and perceive. Yet all too often, this critical foundation gets little attention, leading to confusion, inefficiency, and perhaps even serious organisational problems.

The Critical Importance of Defined Board Responsibilities
If board directors are informed about and accountable for their position roles, the entire organisation benefits from clearer decision-making pathways and more efficient working. Lack of clarity over roles creates not just confusion in workings but also potential legal exposures, particularly to fiduciary responsibilities.

Board directors must properly understand their three simple obligations:

  • Duty of Care – Take reasonable care and diligence in decision-making
  • Duty of Loyalty – Act in the best interests of the club and not personal ones
  • Duty of Obedience – Ensure the club operates under its governing documents and applicable laws

Without this, governance can be a case of having too many cooks spoil the same stew when other meals remain uneaten.

Creating a Comprehensive Responsibilities Matrix
The most successful clubs develop a thorough responsibilities matrix that clearly details level of involvement across key areas/departments for the board, committees, and the management team. This prevents the too-common occurrence of micromanaging managers or board members being unnecessarily drawn into operational detail.

Sample Matrix

This outlined delegation creates clear accountability and precludes over-enthusiastic board members from unwittingly diminishing management’s authority.

Strategic Board Recruitment: Leadership Development Committee
The age of board recruitment on the basis of popularity or length of membership must now pass.  High-performing clubs are implementing a leadership development committee comprised of informed, active, and independent members working year-round to cultivate future leaders. The committee monitors existing committee members to determine whether they are positively contributing to continued committee and/or board service. Leadership development committees can also engage in the new member orientation process to ensure there is mutual transparency, understanding, and buy-in of their intentions from day one of membership.

Developing Meaningful KPIs for Board Performance
What is measured normally improves. Having clear Key Performance Indicators for the board that are directly tied to the club’s Master Goals puts accountability in place and inspires effort on truly strategic priorities. Effective board KPIs may include:

  • Participation and attendance levels
  • Financial management
  • Advancement toward strategic or capital plan milestones
  • Policy review and refresh completions
  • Member satisfaction
  • Membership management
  • Employee satisfaction
  • Human capital management

Regular review of these metrics keeps the board focused on its governance responsibilities and not sidetracked by operational concerns best addressed by management.

Annual Comprehensive Board Member Onboarding
Nothing detracts from board effectiveness more fully than inadequate onboarding. Newly elected directors with limited contextual knowledge of the club’s governance strategy, financial position, and strategic direction cannot serve at their best, regardless of their individual talent. A successful comprehensive onboarding program should include:

  • Mandatory attendance
  • Overview of club mission and vision
  • Responsibility matrix
  • Club rules and bylaws
  • Job descriptions
  • Committee charters
  • Board policy manual
  • Strategic plan and historical goals and direction
  • Budget and finances
  • Organisational chart/staff introductions
  • Club tour (front and back of house)
  • Goal setting
  • Meeting agendas
  • Board self-assessment

Mandatory Governance Documentation
Good governance involves thorough documentation. All board members must receive and familiarise themselves with:

  • Contact information for all board and committee members
  • Calendar of annual meetings with expectations clearly spelled out
  • Committee structure and mandate
  • Organisational chart for the management team
  • Detailed job descriptions for all key staff roles
  • Complete financial records consisting of:
    • Year-end reports
    • Operating budgets
    • Approved capital expenditures
    • Current strategic plan
    • Formal plan amendment review process

Maintaining Confidentiality and Facilitating Board Decisions
Private clubs are responsible for handling sensitive information ranging from membership forms to finances. Board members must be informed of their position in maintaining absolute confidentiality towards decisions and deliberation.

Maybe equally important is the principle of united support for board decisions. Even though compelling arguments should be presented during debate, once there is a decision, all the directors must support it publicly regardless of their personal stand during debate.

Dedication to the Board platform maintains member confidence in management and prevents factional divisions that can ruin club harmony.

Ultimately, members join private clubs for exceptional experiences, but it’s effective governance that ensures a club can consistently deliver those experiences year after year. By investing in governance excellence today, clubs secure their ability to thrive tomorrow.

Michael Herd is an International Consultant and Search Executive with KOPPLIN KUEBLER & WALLACE, a consulting firm providing executive search, strategic planning and data analysis services to the private club and hospitality industries. Michael can be reached at +44 (0) 7903 035312 and at michael@kkandw.com.

Governance Insight – Board Responsibilities & Onboarding2025-03-02T16:14:27+00:00

KOPPLIN KUEBLER & WALLACE and GreyCircle Forge Strategic Partnership

KK&W-International-GreyCircle-Strategic-Partnership

KOPPLIN KUEBLER & WALLACE INTERNATIONAL AND GreyCircle FORGE STRATEGIC PARTNERSHIP

March 18, 2025 – KOPPLIN KUEBLER & WALLACE International (KK&W International), the globally-renowned executive search and consulting firm, has established a strategic alliance with GreyCircle Group Ltd, the learning and development solutions consultancy led by distinguished Executive Coach, Nick Taylor. This partnership will elevate KK&W International’s executive search process through GreyCircle’s expertise in personality profiling and comprehensive candidate preparation and support, while also enriching a collaborative platform for delivering innovative education and training programmes to the club industry.

This partnership marks a significant evolution in club industry career development, combining KK&W International’s extensive search and consulting expertise with GreyCircle’s acclaimed executive coaching and leadership development programmes. Through GreyCircle’s implementation of personality profiling during the search process, clubs will gain deeper insights into candidates’ behaviour traits, leadership styles and cultural “fit.” The collaboration extends beyond placement, with GreyCircle providing comprehensive interview preparation for candidates and structured onboarding support to ensure successful integration into new roles.

Michael Herd, Head of International Search & Consulting at KK&W International, commented: “Our partnership with GreyCircle represents a natural progression in our mission to elevate industry standards. As we expand into new regions, this alliance will enable us to offer clients enhanced services going beyond traditional executive search.”

The partnership leverages GreyCircle’s expertise in executive coaching, team development, and personality profiling with KK&W’s established search and consulting services. Nick Taylor’s straightforward, practical approach to leadership development will complement KK&W International’s comprehensive industry knowledge, creating a holistic support system for club professionals.

“We’re bringing together two organisations that share a deep commitment to professional excellence in the club industry,” said Nick Taylor, Founder of GreyCircle. “By combining our strengths, we can offer club professionals unparalleled support throughout their career journey, from initial placement to ongoing development and leadership training.”

The collaboration will focus on the key areas of executive coaching, leadership development programmes, and educational initiatives. Both organisations will work together to deliver impactful solutions that address the evolving needs of club industry professionals and organisations.

This partnership comes at a time when KK&W International is set to strengthen its position as a market leader in global club search and consulting, with plans to expand its presence across multiple regions in the coming year. The addition of GreyCircle’s expertise will further strengthen the firm’s ability to serve its international client base with comprehensive professional development solutions.

For further information, please contact:

Michael Herd, Head of International Search & Consulting
+44 (0) 7903 035312 | michael.herd@kkandw.com | https://kkandw.com/international/ |
@kkw_update

Nick Taylor, Managing Director of GreyCircle Group Ltd
+44 (0) 7740 356975 | nick@greycircle.co.uk | www.greycircle.co.uk | @GreyCircle™ on
LinkedIn | @greycirclegroup on Instagram

About KOPPLIN KUEBLER & WALLACE
People Focused, Quality Driven. When you work with KOPPLIN KUEBLER & WALLACE, you can expect an experience that will be centered around the well-being of their clients, the candidates they place, and the industry they love. Their process has been perfected since 1996 and involves merging more than 500 years of combined expertise with a comprehensive understanding of stakeholders’ needs. Their Board Dynamics/Model has been presented to over 1000 private clubs and communities. They are an award-winning executive search and consulting firm and a trusted partner dedicated to the success of the organizations they work with.

KOPPLIN KUEBLER & WALLACE and GreyCircle Forge Strategic Partnership2025-03-17T18:23:15+00:00

Perception vs. Reality: I Think Not

Perception vs. Reality: I Think Not

In 2011, my family and I packed up and moved to Asia, ready for a new professional adventure. The goal was clear: explore the region’s diverse cuisines, cultures, and ingredients. But whenever people ask which city I loved most, I struggle to answer. It’s like choosing a favorite child—each place had its own appeal, and I cherished them all for different reasons.

Reality, of course, never quite matches expectations. You see it in those viral memes about different professions—the romanticized view versus the often-harsh truth. My time in Asia was no different. I expected culinary exploration to take center stage, but instead, I found myself navigating something much more complex: human interactions. I encountered discrimination, cultural and religious biases, and assumptions about what I represented. The experience shaped me far more than any dish I discovered.

Food has a way of carrying emotions, especially meals from childhood. For many, their most treasured dishes aren’t just about flavor—they’re about who made them and the memories attached. When I managed a city club, I asked members about their breakfast habits. Most weren’t eating for pleasure; they were taking business meetings over coffee and eggs. It was a reminder that food is as much about context as it is about taste. A meal shared with the right company can elevate even the simplest dish into something unforgettable.

Perceptions, like memories, shift over time. What once seemed certain can become something entirely different in hindsight. Lately, I’ve been thinking a lot about how we hold onto past mistakes and the weight of unresolved regrets. Making amends has been a personal focus. I’ve learned that seeking forgiveness requires both courage and humility. Though I may not remember every misstep, I carry the awareness that my words and actions have left marks—some I wish I could erase.

My self-examination took on structure when I joined a spiritual program that required listing personal resentments and analyzing their impact. The process was uncomfortable but necessary. A true apology, I realized, is more than saying “I’m sorry.” It means taking responsibility, listening without defensiveness, and acknowledging harm, even when it wasn’t intentional. In our program, we call it a willingness to concede.

One of my most vivid lessons in perception came during an Executive Chef interview. A candidate casually mentioned that he had taken the Certified Master Chef exam. As we talked, I realized I had been a lead judge during his test years ago. And in that moment, an old regret resurfaced.

During the first few days of judging, I had let my ego take control. Instead of offering encouragement, I criticized what I saw as underwhelming performances. I don’t remember my exact words, but I remember the tone—and I’ve regretted it ever since. My role was supposed to be one of fairness and support. Instead, I had let insecurity masquerade as authority.

One of my mentors used to say, “If I stop challenging you, I’ve given up on you.” I took that to heart. The harsh feedback I received early in my career never felt personal—it was about pushing me to be better. But that approach doesn’t work for everyone, and I’ve since learned that perception of intent matters just as much as the intent itself.

After the interview, I pulled the chef aside and apologized. He accepted graciously, sharing his own perspective. He admitted he hadn’t been fully prepared for the exam and, in hindsight, appreciated the challenge. He later attempted the test again and, though he didn’t pass, took pride in having faced his fear.

He also acknowledged my reputation, saying he understood the standards I upheld. His ability to accept my apology with professionalism stayed with me. Over the years, I’ve stopped chasing others’ opinions about me. If they offer them, I listen—but I recognize that opinions are shaped by relationships, circumstances, and bias. Much like references in an interview, perceptions rarely tell the full story.

Executive Chefs live in a world where their work is judged in real time, often with extremes. One guest might call a dish the best thing they’ve ever eaten, while another dismisses it entirely. Neither is the full truth. The real measure of success lies in data, consistency, and leadership. I’ve found that a chef’s caliber is often reflected in the company they keep. The journey isn’t just about refining skills—it’s about refining how we see ourselves and how others see us.

So, what is perception? Maybe it’s just a request for understanding. And when we grant it—to ourselves and to others—that’s where real freedom begins.

Club + Resort Chef – February 2025

Perception vs. Reality: I Think Not2025-02-26T21:23:22+00:00
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