Chief Financial Officer Career

Directing and overseeing financial activities, a CFO, or Chief Financial Officer, is responsible for a multitude of functions.  They organize and evaluate activities associated with accounting, credit, treasury, budget, insurance, and tax related endeavors.  Their main focus is raising company capital and supporting expansion.  In order to achieve this, they must supervise all cash management activities, analyze current and past market trends, manage associated risks, oversee investments, and occasionally work with mergers and/or acquisitions.  Due to the amount of fraud cases in recent years, these professionals are held accountable for ensuring the accuracy and completeness of financial records. 

CFOs are under immense pressure to increase company funds, meaning that if targets are not met, they may be at risk of losing their position.  They must always be investigating new and creative methods to achieve rising profit goals, which may result in long hours, sometimes up to 50-60 per week, with occasional evening and weekend schedules.  CFOs generally work out of spacious offices, equipped with a support staff.  Excellent communication skills and the ability to travel are pertinent to success due to the constant interaction with staff, clients, and other professionals.

The required education for a CFO position varies depending on the company, but the most common prerequisite is a Bachelor’s degree.  Many employers will promote hardworking candidates from lower level management positions to fill these vacancies.  This makes it possible for candidates without formal education to work their way up, but promotions are more likely for candidates who continue their education in order to meet the requirements.  Many employers offer training and educational reimbursement programs.  Successful candidates are motivated, analytical, persuasive leaders with self confidence, determination, and the ability to think fast.

Although the finance field is large with numerous openings, the competition for these careers is intense, even though they are expected to grow as fast as average industries.  CFOs often transfer to more prestigious organizations as they gain experience and expertise.  They are essential to the success of a business, and a large part of that is client interaction; therefore, it is highly unlikely that these positions will be affected by the increased amount of automation and technology that has decreased occupational growth in other industries.  For more information on a career as a Chief Financial Officer, please visit the following sites:

• US Chief Financial Officers Council
• Boston E-Net
• Michael Goldman and Associates
• Wiley Publishers
• Michigan Institute for Educational Management

For a list of available Chief Financial Officer positions as well as a database of CFO professionals, please visit iHireAccounting.