What does a CFO do?
A CFO can help a company improve its financial stability. They typically create financial forecasts to help other executives make informed decisions based on projected revenue and expenses.
CFOs also oversee a company’s assets and investments. This may help a company preserve its value and minimize financial risk. In some companies, the CFO serves as a point of contact for bankers, investors and other external financial partners, which requires customer service and analytic reasoning skills.
CFO skills and qualifications
Strong candidates often demonstrate negotiation, data analysis and risk management skills, which may be important for success in this role. Leadership and verbal and written communication skills are also valuable competencies that set top candidates apart.
Skills commonly listed in CFO job description templates include:
- Proficiency in using Microsoft Excel, NetSuite and other financial reporting software
- Competence in leading finance and accounting teams
- Ability to make accurate calculations when developing financial projections
- Knowledge of financial principles and practices, such as cash flow or the time value of money (TVM)
- Excellent organizational skills, including time management
CFO experience requirements
If your company uses skills-first hiring, consider searching for candidates who have relevant soft skills, such as strong verbal communication and a systematic approach to problem-solving.
You may want to emphasize these transferable skills in your CFO job descriptions. For example, a candidate may have problem-solving experience after working as a finance manager or financial analyst.
CFO education and training requirements
CFOs can generally gain experience in related roles that involve risk management and budgeting skills. For example, your business might promote a quality employee who’s held several accounting and finance roles during their tenure. Other candidates may have a bachelor’s or master’s degree in accounting, finance or a related discipline.
Workers can learn your company’s software through online courses or work experience. For example, CFO candidates may have used Microsoft Excel in previous bookkeeping positions. You might also prioritize candidates with voluntary financial credentials, such as Chartered Financial Analyst (CFA) or Certified Finance Manager (CFM).
CFO salary expectations
According to Indeed Salaries, the average salary for a CFO is $165,842 per year. Salary may vary according to location, candidate experience and employer size.
Job description samples for similar positions
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