The most valuable CFOs understand the dreams and objectives of entrepreneurs,
can offer up strategies and guardrails to get there,
and communicate well.
CHEIF FINANCIAL OFFICER
If a President is responsible for everything, then you might say that the Chief Financial Officer (CFO) is expected to take the lead on everything financial. CFOs work closely with key players to evaluate actionable data and bring about systematic change that increases the financial intelligence of the entire organization.
The exact role of a CFO may vary depending on a company’s life stage, capital structure, and strategic plans.
CHANGE – BE AN AGENT FOR POSITIVE AND EFFICIENT CHANGE THAT MAKES EVERYONE BETTER. UNLOCK MORE VALUE FROM EXISTING PLAYERS.
Most CFO responsibilities fit into one of the following areas:
MANAGE PROFIT
CFOs collaborate with leadership to inform strategic decisions to ensure profitability of the business model. In a for-profit business, the most important responsibility of the CFO is to create shareholder value.
LEADERSHIP – FUND, EMPOWER AND EXECUTE INITIATIVES FOR GROWTH AND PROVE OUT THE FINANCIAL MODEL FOR SUCCESS.
BUSINESS OPERATIONS
CFOs provide leadership around maintaining profitability, streamlining processes, and extracting business intelligence. This might include providing information to develop business plans, including KPIs, financial statements and forecasts. From managing risks, evaluating margins and pricing, to financial modeling and competitive comparisons, a good CFO will shepherd a company through complicated financial terrain, which usually involves establishing a financial reporting framework and managing relationships with vendors, customers, banks, lenders, auditors and government agencies.
STRATEGY – COLLABORATE WITH KEY LEADERS TO ENHANCE BUSINESS PERFORMANCE THAT INCREASES SHAREHOLDER VALUE. DELEGATE WELL, WHILE MAINTAINING TIGHT FINANCIAL CONTROL.
FINANCIAL REPORTING
CFOs are responsible for reporting to investors (or a Board of Directors) as well as working with the CEO to implement their directives. CFOs are also responsible for reporting financial results to a variety of audiences for different purposes using the best data available to management.
STEWARDSHIP – DRIVE GROWTH WHILE STEADILY INCREASING EFFICIENCY ACROSS THE COMPANY. BUILD MECHANISMS THAT IMPROVE ACCOUNTABILITY AND FINANCIAL INTELLIGENCE.
