Curiosity is a commercial imperative Finance Leaders cant ignore

Is Curiosity a Commercial Imperative Finance leaders can’t ignore?

Curiosity has long been treated as a ‘nice to have’ cultural value something organisations print on office walls or include in competency frameworks. For modern finance functions, however, curiosity is no longer optional, its far more of a commercial imperative.

As finance teams face rising expectations, rapid technological change and increasing strategic responsibility, more governance and shareholder pressures, curiosity becomes the capability that determines whether finance remains relevant or gets in the way or left behind. Recent insights from BDO’s ‘Finance Function of the Future’ programme highlight that while finance teams have become highly efficient at executing processes, many have simultaneously lost the habit of asking the questions that really matter. This ‘curiosity deficit’ is now a structural constraint on finance’s strategic impact.

For CFOs and FDs, curiosity is not a soft skill or a thing for the wall or classroom. Curiosity is a driver of value creation, risk management, innovation, organisational resilience and such like.

Why Curiosity matters than ever in Finance

Finance functions are under pressure to evolve and whilst AI might be a big part of that evolution, human skills and capabilities are evermore important. The expectation is no longer limited to accurate reporting and governance. Boards and CEOs now look to finance to shape insight, challenge decisions, influence strategy, enable change and               accelerate value creation.

This shift has increased by the rise of AI and automation, and as BDO notes, generative AI is rapidly reshaping how finance functions operate, govern risk and support decision making. The question is no longer whether AI can improve productivity, but whether organisations are building the capability to use it responsibly and at scale.

If finance limits itself to bookkeeping, spreadsheets and reporting, it will undoubtedly become more vulnerable, even a liability. AI will increasingly take on administrative and analytical load, so the differentiator, being the human advantage, becomes judgement, leadership and curiosity. Curiosity is what enables finance professionals to better:

•             spot anomalies

•             challenge assumptions

•             explore patterns

•             anticipate risks

•             identify opportunities

•             connect dots across the business

In short, curiosity might reasonably be described as the engine of insight.

The Cost of a Curiosity Deficit

BDO’s research (and others) highlights that many finance teams have become highly efficient at process execution but less effective at asking deeper, value creating questions. This is not a cultural quirk by any means, it is a structural issue that can limit finance function’s ability to influence strategy.

Without curiosity – or when its insufficient - several things are likely to happen:

1. Risk increases. A lack of questioning means issues go unnoticed. In one real world example with a client, one curious team member ( who felt safe to speak up) spotted an unusual pattern of transactions. Their curiosity uncovered a colleague circumventing controls, ultimately saving the organisation around £3m. Without that curiosity, the loss would have continued.

2. Insight stagnates

Finance becomes reactive, reporting on what happened rather than shaping what should happen next.

3. Innovation slows

Curiosity fuels experimentation and improvement, without it, teams default to ‘the way we’ve always done it’ which can be dangerous and costly.

4. Talent disengages

Curious people thrive in environments that encourage exploration and provide psych safety. When curiosity is stifled, you tend to see that high potential talent leaves the team or business

5. Finance loses strategic influence

A function that only reports numbers cannot lead change. A curious finance function becomes a strategic partner and business leader.

Curiosity as a Leadership Capability

Curiosity is often misunderstood as a personality trait, but in reality, it is a leadership behaviour, one that can be developed, modelled and embedded.

In an interview with Emilie McCarthy, Group CFO at Mortgage Advice Bureau, she says actively looks for team members who embody curiosity above all else, recognising it as a critical enabler of culture and performance. Curiosity is a recognised driver of -

•             better decision making

•             stronger problem solving

•             higher adaptability

•             more effective collaboration

•             deeper engagement

EY’s research also shows that curious cultures are more resilient in fast changing markets and deliver stronger growth outcomes. But curiosity doesn’t happen by chance or accident. It requires leaders who model and live inquiry, and help create and develop:

•             psychological safety

•             permission to question and challenge

•             systems that reward exploration, not just accuracy

•             time and space to think, not just execute

Many organisations have Curious plastered all over the wall, but in my experience, far fewer have it in the DNA.

Curiosity in high performing Finance Teams

High performing finance teams are not defined by technical excellence alone. They are defined by – and are more likely in the future – to be, by their ability to think, challenge, collaborate and influence. And businesses (staff and shareholders) need and value this.

Curiosity is the connective tissue that enables this. A high(er) performing finance team tends to ask and discuss questions such as:

•             What are we not seeing?

•             What assumptions are we making?

•             What patterns are emerging?

•             How could we help the business move faster to value?

•             Where are the risks – the potential risks - we haven’t yet named?

•             What would we do if we weren’t constrained by the current process?

These questions ( to name a few) shift finance from a reporting function to a value creation engine.

Small behavioural shifts, such as better feedback, more open dialogue, and deliberate questioning, often create disproportionate improvements in performance leading to healthier and wealthier business.

Curiosity and the Future of the Finance Function

As AI takes on more of the transactional and analytical workload, finance’s role becomes more human, not less. The future finance function will be defined by human traits and skills such judgement, influence, creativity, strategic thinking, ethical decision making and of course, curiosity.

BDO’s research on generative AI emphasises that the real challenge is not the technology itself, but building the capability to use it responsibly and at scale. Curiosity is the starting point for that capability, and its one of the key reasons I get brought in to facilitate those creative and curious conversations.

Curiosity enables finance teams to better explore new technologies, to understand emerging risks, challenge outdated processes, design better systems and partner more effectively with the business.

Curiosity is the mindset that unlocks the next evolution of finance capability.

Call to action for CFOs and Finance leaders

If curiosity is a commercial imperative, the question surely becomes …. How do we (you) build it?

You can start by asking:

•             Do our leaders model curiosity, and to what degree?

•             Do our systems reward questioning or punish it?

•             Do our teams feel safe to challenge, and how do we know?

•             Do we hire for curiosity not just competence?

•             Do we create space for thinking, not just doing?

•             Do we treat curiosity as a strategic capability?

Finance functions that embrace curiosity will become indispensable strategic partners. Those that don’t will struggle to stay relevant in a world where AI can replicate technical tasks but not human insight.

Curiosity is a competitive advantage, and for finance, it may be the most important one of all in this new exciting world.

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If you’re a CFO or finance leader who knows your function is capable of more, curiosity is may be the lever you need to pull. This is the work I specialise in. I help finance teams build the psychological safety, questioning culture and strategic confidence needed to move from reporting the numbers to shaping the future. Through facilitation, coaching and high performance team development, I help you create environments where curiosity becomes a commercial capability, not a poster on the wall. If you want a finance team that thinks deeper, challenges better and partners more effectively with the business, let’s talk.