02 Apr Sample CFO Job Description
The Chief Financial Officer, or CFO, is the senior executive of a business or organization that manages the financial actions of the company. They are part of the team that provides operational support to the company. The role is very diverse, meaning there are many ways to be successful in this position. It requires analytical skills and leadership ability. We’ll be taking a look at the overall role and include a sample of a CFO job description.
In this role, you will work with an assortment of people within the company, including executives, managers, engineers and designers. This can include working directly with board members as well as other departments within the company. You may also have direct reports who report to you. You’ll need strong organizational skills so that you can manage multiple projects at once. Lastly, you should possess some finance experience to make sure you know how things work within your field. Now, we’ll take a look at requirements that should be included in the CFO job description.
What requirements are needed to be a CFO?
To be considered for a CFO job, you need to have a bachelor’s degree in Accounting or Finance, as well as a master’s degree in accounting or business administration. This should be made very clear in every CFO job description. Preferred candidates will have an MBA in Finance and be a Certified Public Accountant or a Certified Management Accountant. In order to succeed here, you need to show your potential employer that you’re capable of handling tasks on your own with great responsibility. If you don’t feel confident doing something by yourself, ask someone else to help out so they can learn from their mistakes.
You must have:
- Strong communication skills – Being able to explain complex concepts clearly and concisely is key. Plus, if you have a good understanding of accounting principles, this will help.
- Analytical skill set – Do math problems quickly and logically. An understanding of common terms
- Strategic Mindset– Must have a solid understanding of the company perspective at a broad level. The CFO has to be more strategic and act as a business partner.
- Financial Reporting Experience– Must have experience in creating financial reports and reporting to other executives, boards, and shareholders/media.
Sample Job Description for a CFO
[Intro paragraph] Begin your CFO job description with an introductory paragraph that tells the prospective applicant a little bit about your company and the working environment, as well as putting a strong emphasis on the mission of your organization. This is your chance to set your company apart from the rest and show the candidate that this is their perfect job match. Take 2-3 sentences to cater your recruiting pitch to the ideal candidate and you’ll attract the best of the best.
Chief Financial Officer Job Responsibilities:
- Develops financial well-being of the organization by providing financial projections and accounting services in order to help the Accounting Department, preparing growth plans, and directing staff.
- Accomplishes finance human resource strategies by determining accountabilities; communicating and enforcing values, policies, and procedures; implementing recruitment, selection, orientation, training, coaching, counseling, disciplinary, and communication programs; planning, monitoring, appraising, and reviewing job contributions; and planning and reviewing compensation strategies.
- Develops finance organizational strategies by contributing financial and accounting information, analysis, and recommendations to strategic thinking and direction and establishing functional objectives in line with organizational objectives.
- Establishes finance operational strategies by evaluating trends; establishing critical measurements; determining production, productivity, quality, and customer-service strategies; designing systems; accumulating resources; resolving problems; and implementing change.
- Develops organization prospects by studying economic trends and revenue opportunities; projecting acquisition and expansion prospects; analyzing organization operations; identifying opportunities for improvement, cost reduction, and systems enhancement; and accumulating capital to fund expansion.
- Develops financial strategies by forecasting capital, facilities, and staff requirements; identifying monetary resources; and developing action plans.
- Monitors financial performance by measuring and analyzing results, initiating corrective actions, and minimizing the impact of variances.
- Maximizes return on invested funds by identifying investment opportunities and maintaining relationships with the investment community.
- Reports financial status by developing forecasts, annual budget, financial statements, reporting results, analyzing variances, and developing improvements.
- Updates job knowledge by remaining aware of new regulations, participating in educational opportunities, reading professional publications, maintaining personal networks, and participating in professional organizations.
- Accomplishes financial goals and organization mission by completing related results and aggregating funding as needed.
[Work Hours & Benefits] Discuss the working hours and benefits specific to your company here. This is your chance to tell prospective CFOs about work from home and support staff options. And focus on the benefits that set you apart, such as stock and ownership options, paid parental leave, or corporate travel accounts.
Chief Financial Officer Qualifications/Skills:
- Financial planning and strategy
- Managing profitability
- Strategic planning and vision
- Quality management
- Promotion of process improvement
- Corporate finance
- Budget development
Education, Experience, and Licensing Requirements
- MBA or bachelor’s degree in business, finance, accounting, or equivalent experience.
- Master’s degree preferred.
- Certified Public Accountant certification a plus.
- Minimum 10 years’ experience in accounting and financial management practices.
- Experience in a senior management position.
- Proficiency with accounting software, word processing, and spreadsheets.
- Solid GAAP and financial reporting technical skills.
[Call to Action] Now that you have a qualified candidate’s interest, you need to let them know how to apply and encourage them to do so. So here you should have your call to action. Advise prospective CFOs to apply through the job listing or to contact the human resources department.
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As a specialist in chief executive and senior level assignments, we understand the ability to attract and retain the right staff is the most important strategy an employer can implement. We have led over one thousand national executive searches over the past fifteen years and running. We are experts at building comprehensive diverse executive candidate pipelines for your executive-level openings. We hope that this CFO job description helps you in your search for your next executive! If you need help finding your next executive leader, allow Scion Executive to help you! Contact us today or visit our website to learn more!