Chief Financial Officer Job Profile And Description
A chief financial officer is more popularly called a CFO and is one of the most important senior level executives in a company. As the name suggests, he is responsible for handling and supervising the financial affairs of the company and thus plays a very crucial role in maintaining the profitability of the organization. He works directly under the CEO and together they come with financial strategies that will help the company make sound investment plans. He gives his expertise in planning the budget, maintaining the flow of funds and various other accounting and administrative duties. He can be appointed part-time or full time. He must also be knowledgeable about the various laws, rules and regulations governing business and must make sure that the company is complying with all these policies.
Chief Financial Officer Duties And Responsibilities
The duties and responsibilities of a chief financial officer involve:
- Create business strategies based on the goals of the company and makes sure those plans are followed for the success of the business
- Go through all the major financial documents so that there is no fraud or non-compliance with rules and give his approval on reports, annual statements and analytical reports.
- Be present at press conferences with the CEO when financial results are declared and for any other important event so that he can answer questions from the media
Chief Financial Officer Skills And Specifications
The skills and specifications that are required of a chief financial officer include:
- Excellent communication, networking and leadership skills
- Analytical skills and problem-solving ability
Chief Financial Officer Education And Qualification
The education and qualification requirements for a chief financial officer are as follows:
- MBA or master’s degree with specialization in finance, sales or marketing
- Experience of over 5 years
Chief Financial Officer Salary
The average salary of a chief financial officer is $160,000.