Protos Security CFO on the Convergence of Finance and Operations

Why It Matters

The shift expands the CFO’s influence on company strategy and execution, reshaping how fast‑growing, PE‑backed businesses create value and mitigate risk. It signals a broader industry trend toward integrated finance‑operations leadership.

Key Takeaways

• CFO role now includes strategy, tech, risk, operations.
• Finance and operations teams becoming inseparable in PE-backed firms.
• Real‑time data insight expected from CFOs.
• M&A decisions driven by customer value and cultural fit.
• Ownership mindset essential for success with private equity.

Pulse Analysis

The CFO function has undergone a seismic transformation over the past three decades. No longer confined to ledger maintenance, today’s finance chief must translate data into strategy, oversee technology platforms, and embed risk management across the enterprise. This broadened remit reflects a market that values speed; executives expect instant, actionable insights rather than delayed reports. As a result, finance leaders are increasingly adopting the language and tools of operations, blurring traditional departmental lines.

In private‑equity‑driven environments like Protos Security, the convergence of CFO and COO responsibilities is especially pronounced. Capital efficiency, rapid integration of acquisitions, and disciplined divestitures require a unified view of both financial metrics and operational realities. Escamilla’s emphasis on customer‑centric M&A criteria—technology fit, service coverage, and cultural alignment—demonstrates how finance leaders now shape growth trajectories directly. Moreover, rigorous risk frameworks, from privacy compliance to vendor oversight, are woven into daily decision‑making, protecting high‑touch, high‑tech security businesses from costly litigation.

For emerging finance professionals, mastering fundamentals remains essential, but the next frontier lies in business acumen and an ownership mindset. Understanding how a company generates revenue, retains clients, and scales operations equips accountants to become strategic partners. Real‑time analytics, transparent KPIs, and proactive communication with private‑equity sponsors further differentiate leaders who can drive sustainable value. As the finance‑operations nexus tightens, those who embrace ambiguity, ask the right questions, and act decisively will shape the next generation of corporate leadership.

Protos Security CFO on the convergence of finance and operations

Anthony Escamilla · CFO, Protos Security · First CFO position: 1998 · Notable recent employers: Deloitte & Touche, The Telx Group, Allied Fiber, T&M Protection Resources

This interview has been edited for brevity and clarity.

---

Interview

DAN NIEPOW: You’ve held CFO roles for almost three decades now. How would you say the demands of the role have progressed over that time?

ANTHONY ESCAMILLA: At a high level, they’ve changed tremendously. The CFO role has expanded from keeper of budgets and reporter of numbers into a much broader business leader. You still have to get the fundamentals right—things like controls, capital discipline, financial reporting, etc. But today, as a CFO, you’re also expected to be a strategist, a data‑technology interpreter and a risk manager. In my current role, my purview spans FP&A, accounting and payroll, retirement benefits, data intelligence, IT, legal and regulatory, enterprise risk management, M&A and real‑estate facilities.

There’s a lot in there, but I think financial decisions truly only matter in the execution of all those things.

Another difference is that the pace of this job has just grown exponentially. It is a much faster‑paced job. Today, stakeholders really expect decision‑ready insight from CFOs, and they expect it in real time.

---

DAN NIEPOW: You’ve also served as both CFO and COO multiple times over your career. What’s drawn you to the operations side of the house?

ANTHONY ESCAMILLA: That’s where the value is created, pure and simple. Finance is probably most effective when it’s as close as it can be to how the work is actually getting done, how services are being delivered and so on.

Looking back on my career, I’ve always enjoyed turning strategy into operating plans. I’ve enjoyed building the metrics that at least I would start using, and then others who joined the company as we grew would use aligning incentives. One of the things I found is that when you do those kinds of things, the entire company starts rowing in the same direction. That’s when growth accelerates.

---

DAN NIEPOW: Some observers say that we’re likely going to see more and more people serving in “COFO” roles. What’s your take?

ANTHONY ESCAMILLA: It may be a distinction without a difference. When you think about PE‑backed hybrid companies like ours and many others out there, the CFOs are involved in a lot of different aspects of operations, from sales to HR. The operations and finance teams, I think, are inseparable.

When I think back on some of the other companies that I’ve worked at, I’ve seen CFO‑COOs making decisions today that are not only for the next year or next budget cycle, but also for the next three, five years and sometimes even ten years out. Those decisions need to pass two tests: (1) from a finance perspective, can we execute on it? and (2) are they financially sustainable?

I also know a lot of COOs who are doing lots in the finance function. A lot of COOs come from an FP&A background. So, I think you may see a convergence between these two roles, but it isn’t about power. It’s just about faster, better decisions and real‑time accountability.

---

DAN NIEPOW: You got your start as a senior accountant with Deloitte & Touche. What advice would you share with newly minted accountants today?

ANTHONY ESCAMILLA: You need to master the fundamentals. Pay attention to the details and the documentation, and have strong ethics. But you shouldn’t stop there: learn the business behind the numbers. That’s really important and where a lot of first‑year accountants probably get lost.

---

“Do the work that’s inconvenient, ambiguous and hard, because for me, that’s where the disproportionate learning happens.”

— Anthony Escamilla, CFO, Protos Security

---

You need to learn how the company you’re auditing makes money, what drives customer retention, and the broader organizational risks. Next, build your ability to communicate clearly. Get comfortable with data, but also with ambiguity. Accounting tends to be black and white, while finance and operations often operate with imperfect information in the grey.

Always stay curious. Great leaders know they don’t know everything, but they know how and when to ask for help and who in their network to ask.

Finally, do not wait for opportunities to be handed to you. Find them. Be willing to do the work that others don’t. Propose solutions before you’re asked. Do the work that’s inconvenient, ambiguous and hard—because that’s where the disproportionate learning happens, and where careers are truly made.

---

DAN NIEPOW: You said you’ve led over a dozen acquisitions at Protos. How do you think about potential M&A targets for your business?

ANTHONY ESCAMILLA: It’s one of my favorite parts of my job. We have a solid M&A team and maintain an active pipeline of opportunities. We start by looking through a client lens: Will this help us serve customers better? Does it give us new capabilities or better coverage? Does it provide stronger technology or improve service delivery? Then we consider people and culture.

Throughout my career, I’ve worked on many integrations—some successful, some not. They work best when teams share the same values and collaborative mindset.

We then get rigorous on value creation: What’s the strategy for the next five years? What’s the execution risk? Does the combined company make us stronger or more resilient over time?

We’ve also walked away from a few opportunities when they didn’t check all the boxes.

---

DAN NIEPOW: In a recent article for the CFO Leadership Council, you wrote that divestitures are set to accelerate due to “recognition that strategic focus is spread too thin across too many priorities.” Why do you think the business world lost that focus to begin with?

ANTHONY ESCAMILLA: Some companies have a mindset of growing faster, bigger and stronger by adding many companies to the portfolio. I’ve seen a lot of acquisitions that don’t always make sense, leading to wasted management and board time trying to make them fit. That’s a lot of wasted brain power when you could be sharpening the tools you already have.

---

DAN NIEPOW: You’ve worked under private equity in the past. In your view, what’s the key to working well with a PE sponsor?

ANTHONY ESCAMILLA: While some sponsors may be a poor fit, the key to success with the vast majority is to approach your job with an ownership mindset. Think in terms of enterprise value, not just functional goals.

As a CFO, you have many deliverables—daily, weekly, monthly, quarterly, annual. If you think like an owner, all decisions lead toward value creation. Pair that mentality with transparency: clear KPIs, realistic forecasts, and the courage to communicate early when things aren’t going as planned or circumstances change.

---

DAN NIEPOW: Providing physical security services is a complex business where risks abound, including legal ones. Your own company was named among the defendants in a class‑action suit over alleged use of facial‑recognition software. As a CFO, how do you think about managing risks at a security company?

ANTHONY ESCAMILLA: In that case the claims were specious and voluntarily dismissed, but the point remains: we take privacy and compliance extremely seriously. From day one we’ve built risk management into how we operate—through clear policies, employee and operations manuals, and stringent vendor requirements.

As a managed‑services provider, we ensure all employees are properly trained and require the same of our vendors. We maintain tight oversight. We’re a high‑tech but also high‑touch company; in people‑intensive service businesses you must be disciplined in risk management.