Job Description of a Chief Finance Officer

About CFO Job Description

A chief financial officer manages an organization's financial operations and risks. This is achieved by supervising accounting and finance staff, establishing accounting and finance policies and procedures for the company and establishing and maintaining budgets, credit and cash flows. Chief financial officer job descriptions can follow general job description formats, but must have specific management and finance items listed in essential functions, education, skills and experience.

Opening Description

The first section of a chief financial officer's job description is an overview or brief description of the position. This includes to whom the chief financial officer reports and whom he supervises, major areas of responsibility and main success factors necessary in the role.

Essential Functions

The chief financial officer job description should clearly list essential functions of the position. This is a list of tasks and procedures required of the person in the position, without which the work of the position would not be completed. Although specific CFO essential functions will vary by organization, some common CFO essential functions are overseeing management of all fiscal reporting activities, corporate contract administration, supervising and developing accounting and finance staff and monitoring all corporate banking activities.

Required Knowledge, Skills and Abilities

Chief financial officer candidates must be skilled and knowledgeable in areas of finance, accounting and management. Needed skills include effective written and verbal communication, supervision of accounting and finance staff, preparation of financial statements and budgets, use of general office software and specialized accounting software, and knowledge of accounting laws, practices and procedures.

Education and Experience

Chief financial officers require at least a bachelor's degree in accounting. Many organizations require CFOs to have a master's degree in a specialized area of finance as well and prefer certified public accountants. To be qualified to work as a chief financial officer requires years of experience in accounting and finance with progressively higher levels of responsibility performing and supervising finance and accounting work.

Associations, Clubs, Volunteer and Other

Chief financial officer candidates with membership in specialized finance and accounting associations have access to valuable resources and references that can benefit their employers and employees. Volunteer service and club memberships demonstrate a level of commitment and interest in community that employers look for in senior management candidates.

References

• "Reinventing the CFO: How Financial Managers Can Transform Their Roles and Add Greater Value", Jeremy Hope, 2006