The Chief Financial Officer (CFO) of a company has primary responsibility for the planning, implementation, managing and running of all the company's finance activities of a company, including business planning, budgeting, forecasting and 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 part of an executive management team, the CFO has interaction with various staff members, both senior and junior. 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
- 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 managing a team is a must – with examples of when they have demonstrated excellence in the workplace. A CFO must display a cohesive ability at interpersonal 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.