Chief Financial Officer Job Description: Explore Duties, Skills and Salary Insights

What does a Chief Financial Officer do?

The CFO oversees the company’s financial operations. You manage budgets, investments, and financial planning, ensuring the organization maintains financial health and meets its growth objectives.

Chief Financial Officer: Main duties

Chief Financial Officers in the Executive field handle essential tasks and contribute significantly to achieving team and organizational goals. Here are some of their primary responsibilities:

• Drive the company's financial planning and decide on investment strategies by considering cash and liquidity risks.
• Ensure compliance with the law and company’s policies regarding all financial functions.
• Manage vendor relationships and large contracts that affect the overall finances of the company.
• Analyze and report on financial performance, preparing detailed reports and presentations for the board members.
• Oversee audit and tax functions, coordinate activities with outside audit firms and review firms’ performance.
• Develop and oversee internal control policies, guidelines, and procedures for activities such as budget administration, cash and credit management, and accounting.
• Coordinate with other members of the executive management team to review achievements and discuss required changes in goals or objectives resulting from current status and conditions.
• Lead and develop finance teams, fostering a culture of continuous improvement in the finance department.

Chief Financial Officer: Key Qualifications

• Bachelor’s degree in Accounting, Finance, or Business Administration; Master’s degree in Business Administration, Finance, or related field preferred.
• Certified Public Accountant (CPA) or Certified Management Accountant (CMA) qualifications beneficial.
• Extensive experience in financial management and accounting roles, including senior management experience.
• In-depth knowledge of corporate financial law and risk management practices.
• Excellent knowledge of data analysis and forecasting methods.

Basic Skills and Requirements for Chief Financial Officers

• Excellent leadership, communication, and decision-making skills.
• Proficient in the use of MS Office and financial management software (e.g., SAP).
• Ability to strategize and solve problems.
• Strong ethical standards.
• High level of organizational and motivational skills.

Salary Expectations for Chief Financial Officers

The average salary for a Chief Financial Officer in the U.S. is approximately $206,400 per year and can vary from entry-level to senior positions. Chief Financial Officers may receive a wide range of benefits.

To explore more detailed salary information, including specific salary estimates in your country, visit the Chief Financial Officer Salary Country Overview.

Frequently Asked Questions about becoming a Chief Financial Officer