Whats Is a Chief Financial Officer?
What Does a Chief Financial Officer Do?
A Chief Financial Officer is a top-level executive, responsible for managing a company’s financial actions. A Chief Financial Officer (CFO) is often the most senior financial position within a company and overall, the third highest position in terms of seniority.
In most companies, the Finance Director will report to the Chief Financial Officer, meaning the role also entails understanding their responsibilities.
What Are the Responsibilities of a Chief Financial Officer?
A Chief Financial Officer is in charge of anything relating to financial planning, taxation, and cash flow and has a high level of input into managing a company’s incomings and outgoings. Forecasting, cost-benefit analysis, and assisting the Chief Executive Officer are also important parts of CFO jobs in the UK.
While working as a Chief Financial Officer, you will be required to:
- Track a company’s cash flow, including its incomings and expenses.
- Lead a team of finance professionals.
- Develop and maintain relationships with lenders, insurers and pension providers.
- Oversee a company’s budget in line with its business strategy.
- Create a detailed forecast for a company’s financial future.
- Liaise with internal and external stakeholders.
- Analyse the company’s financial strengths and weaknesses.
- Ensure that the company’s financial reports are accurate and completed on time.
- Create and implement new team structures.
- Achieve agreed financial growth objectives.
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