What's it like to be a Chief Financial Officer?
Chief Financial Officers help establish and pursue an organisation’s financial goals. They also identify financial risks and opportunities and oversee other finance staff. Chief Financial Officers have advanced skills in accounting, including an understanding of profit and loss, balance sheet and cash flow management, and general finance and budgeting.
Tasks and duties
- Assisting with high-level decisions about finance policies and strategies.
- Helping with recruiting new staff members.
- Overseeing a company’s fiscal activity, including budgeting, reporting and auditing.
- Ensuring compliance with laws and regulations.
- Identifying and addressing financial risks and opportunities.
- Supervising the financial reporting and budgeting team.
- Reviewing financial reports to identify ways to reduce costs.
How to become a Chief Financial Officer
To become a Chief Financial Officer you usually need a relevant degree and extensive workplace experience.
Complete a bachelor degree in business administration, accounting, finance, management, public administration, economics or a related field.
Consider advancing your skills with a postgraduate degree such as a Master of Business Administration (MBA) or Master of Science in Finance.
Gain extensive experience in a finance role. Experience managing people and processes is typically required.
Earn a professional certification to enhance your credentials and better prepare for this role. This can include Certified Public Accountant (CPA) or Certified Management Accountant (CMA).