Job Role Description

IT and Engineering > Chief Financial Officer (CFO)

Salary National Average

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150170.0000 190660.0000 224180.0000

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Short Description:

A Chief Financial Officer (CFO) is responsible for overseeing the financial operations of an organization, including financial planning, risk management, record-keeping, and financial reporting. Their duties include developing strategies for long-term financial growth, managing budgets, analyzing financial performance, and ensuring compliance with financial regulations. The CFO works closely with the CEO and other executives to align financial goals with overall business objectives and often plays a key role in investment decisions and capital structure management. Strong leadership, analytical skills, and a deep understanding of financial management are essential for success in this role, as the CFO ensures the financial health and sustainability of the organization.

Duties / Responsibilities:

  • Accomplishes finance human resource strategies by determining accountabilities; communicating and enforcing values, policies, and procedures; implementing recruitment, selection, orientation, training, coaching, counseling, disciplinary, and communication programs; planning, monitoring, appraising, and reviewing job contributions; planning and reviewing compensation strategies.
  • Develops finance organizational strategies by contributing financial and accounting information, analysis, and recommendations to strategic thinking and direction; establishing functional objectives in line with organizational objectives.
  • Establishes finance operational strategies by evaluating trends; establishing critical measurements; determining production, productivity, quality, and customer-service strategies; designing systems; accumulating resources; resolving problems; implementing change.
  • Develops organization prospects by studying economic trends and revenue opportunities; projecting acquisition and expansion prospects; analyzing organization operations; identifying opportunities for improvement, cost reduction, and systems enhancement; accumulating capital to fund expansion.
  • Develops financial strategies by forecasting capital, facilities, and staff requirements; identifying monetary resources; developing action plans.
  • Monitors financial performance by measuring and analyzing results; initiating corrective actions; minimizing the impact of variances.
  • Maximizes return on invested funds by identifying investment opportunities; maintaining relationships with the investment community.
  • Reports financial status by developing forecasts; reporting results; analyzing variances; developing improvements.
  • Updates job knowledge by remaining aware of new regulations; participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations.
  • Accomplishes finance and organization mission by completing related results as needed.

Skills / Requirements / Qualifications

  • Active Listening: Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
  • Critical Thinking: Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems
  • Monitoring: Monitoring/Assessing performance of yourself, other individuals, or organizations to make improvements or take corrective action.
  • Mathematics: Using mathematics to solve problems.
  • Reading Comprehension: Understanding written sentences and paragraphs in work related documents.
  • Speaking: Talking to others to convey information effectively.
  • Judgment and Decision Making: Considering the relative costs and benefits of potential actions to choose the most appropriate one.
  • Writing: Communicating effectively in writing as appropriate for the needs of the audience.
  • Active Learning: Understanding the implications of new information for both current and future problem-solving and decision-making.
  • Complex Problem Solving: Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions.
  • Coordination: Adjusting actions in relation to others' actions.
  • Management of Personnel Resources: Motivating, developing, and directing people as they work, identifying the best people for the job.
  • Social Perceptiveness: Being aware of others' reactions and understanding why they react as they do.
  • Persuasion: Persuading others to change their minds or behavior.
  • Service Orientation: Actively looking for ways to help people.
  • Time Management: Managing one's own time and the time of others.
  • Learning Strategies: Selecting and using training/instructional methods and procedures appropriate for the situation when learning or teaching new things.
  • Mathematics: Using mathematics to solve problems.
  • Instructing: Teaching others how to do something.
  • Negotiation: Bringing others together and trying to reconcile differences.
  • Systems Analysis: Determining how a system should work and how changes in conditions, operations, and the environment will affect outcomes.
  • Management of Financial Resources: Determining how money will be spent to get the work done, and accounting for these expenditures.
  • Systems Evaluation: Identifying measures or indicators of system performance and the actions needed to improve or correct performance, relative to the goals of the system.

Job Zones

  • Title: Job Zone Five: Extensive Preparation Needed
  • Education: Most of these occupations require graduate school. For example, they may require a master's degree, and some require a Ph.D., M.D., or J.D. (law degree).
  • Related Experience: Extensive skill, knowledge, and experience are needed for these occupations. Many require more than five years of experience. For example, surgeons must complete four years of college and an additional five to seven years of specialized medical training to be able to do their job.
  • Job Training:    Employees may need some on-the-job training, but most of these occupations assume that the person will already have the required skills, knowledge, work-related experience, and/or training.
  • Job Zone Examples: These occupations often involve coordinating, training, supervising, or managing the activities of others to accomplish goals. Very advanced communication and organizational skills are required. Examples include librarians, lawyers, sports medicine physicians, wildlife biologists, school psychologists, surgeons, treasurers, and controllers.
  • SVP Range: (8.0 and above)

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