The Chief Financial Officer (CFO) of a company has overall responsibility for the strategic planning, implementation, managing and running of all the finance activities of a company, including business planning, budgeting, forecasting, risk and governance as well as negotiations. The CFO job description should also extend to obtaining and maintaining investor relations and partnership compliance.
CFO duties and responsibilities of the job
As the key member of the executive management team, the CFO interacts with senior stakeholders and other members of a company. A CFO job description should include:
- Providing leadership, direction and management of the finance and accounting team
- Providing strategic recommendations to the CEO/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
- Provide commercial insight and leadership across the business in order to exceed business plan targets
- Responsible for ensuring the risk and compliance management framework is embedded and operational for the Group
- Establishing and developing relations with senior management and external partners and stakeholders
- Reviewing all formal finance, HR and IT related procedures
CFO job qualifications and requirements
The role of CFO is very senior, hence a high level of 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. At least 10 years' experience in the finance industry and proven leadership and management experience is essential – with examples of when they have demonstrated excellence in the workplace. A CFO must possess excellent interpersonal and communication skills with the executive presence to work with senior management, investors and external stakeholders. They must be able to engage with staff at all levels of the organisation and exercise sound judgement.
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