The Chief Financial Officer (CFO) of a company is the head of the finance department and is responsible for the planning, implementation, managing and running of all the finance activities of a company, including business planning, budgeting, forecasting and negotiations. Obtaining and maintaining investor relations and partnership compliance will also fall within the remit of the role.
The CFO is also a member of the executive management team, and will be required to work closely with the most senior members of a company.
- Providing leadership, direction and management of the finance and accounting team
- Providing strategic recommendations to the president and members of the executive management team
- Managing the processes for financial forecasting and budgets and overseeing the preparation of all financial reporting
- Advising on long-term business and financial planning
- Establishing and developing relations with senior management, external partners and stakeholders
- Reviewing all finance, HR and IT related procedures
The role of CFO sits within the upper echelons of the organisation, so understandably an extensive work experience is expected for anyone applying for this role. A bachelor’s degree in the following will be expected for this role:
- Finance or Economics
An MBA or CPA is also highly desirable. Having at least 10 years experience in the finance industry, as well as experience managing a team is a prerequisite. A CFO must display excellent interpersonal skills, and communication skills both verbally and written. They must be able to engage with staff at all levels of the organisation and exercise sound judgement. Employers are likely to ask for examples of when candidates have demonstrated management excellence in the workplace.
Please note, this is an average across various industries. To compare your salary, and receive data on salaries for your sector, visit our salary calculator.