Key Responsibilities and Required Skills for Chief Financial Officer

🎯 Role Definition

The Chief Financial Officer (CFO) is the senior executive responsible for steering the organization's financial strategy, overseeing all accounting and finance operations, protecting financial integrity, and partnering with the CEO and leadership team to drive growth, profitability, and long-term value. The CFO leads financial planning & analysis (FP&A), treasury, tax, audit, compliance, investor relations, mergers & acquisitions (M&A), and financial systems implementation while building a high-performance finance organization and governance framework that scales with the business.

📈 Career Progression

Typical Career Path

Entry Point From:

VP Finance / Head of Finance
Corporate Controller / Head of Accounting
Head of FP&A or Finance Director

Advancement To:

Chief Executive Officer (CEO)
President / Chief Operating Officer (COO)
Board Director / Non-Executive Director

Lateral Moves:

Head of Strategy / Chief Strategy Officer (CSO)
General Manager / Business Unit Lead

Core Responsibilities

Primary Functions

Develop and execute the company's short- and long-term financial strategy to support corporate objectives, including capital allocation, investment prioritization, and sustainable growth initiatives.
Lead the annual budgeting process and rolling forecasting cadence; own variance analysis, scenario planning, and long-range financial models to inform executive decision-making.
Oversee FP&A: build actionable financial models, dashboards, and KPIs that translate business performance into clear insights for the executive team and Board.
Direct all accounting and financial reporting activities to ensure timely, accurate financial statements in compliance with GAAP and/or IFRS; coordinate month-end, quarter-end, and year-end close.
Serve as the primary liaison to external auditors and lead preparation for statutory audits, internal audits, and SOX/controls testing where applicable.
Manage treasury and cash flow: optimize cash conversion cycle, manage working capital, banking relationships, debt covenants, and liquidity to support operations and strategic initiatives.
Lead capital markets activities including equity and debt financings, investor relations, investor presentations, and due diligence communications with potential investors and rating agencies.
Drive M&A strategy: lead target screening, financial due diligence, valuation, deal structuring, negotiation support, and post-merger integration of financial operations and systems.
Own tax planning and compliance strategy with external advisors to optimize tax structure, ensure accurate filings, and mitigate tax-related risks.
Establish and enforce robust internal controls, corporate governance, and financial policies to protect company assets and ensure compliance with regulatory and contractual obligations.
Implement and optimize enterprise financial systems (ERP, accounting platforms, reporting tools) and lead digital transformation efforts to automate processes and improve data accuracy.
Partner with the CEO and executive team on strategic planning, go-to-market pricing strategies, product profitability analysis, and resource allocation decisions.
Oversee procurement, benefits administration, and payroll financial governance to ensure cost efficiency and compliance across operations.
Design and deploy performance management frameworks, incentive plans, and compensation structures aligned with corporate goals and shareholder value creation.
Manage external advisor relationships including banks, auditors, tax advisors, investment bankers, and legal counsel to ensure best-practice financial advice and execution.
Monitor and manage enterprise risk exposure including foreign exchange, interest rate risk, insurance programs, and hedging strategies as needed.
Present financial performance, strategic plans, and risk assessments to the Board of Directors and executive stakeholders, preparing board packs and investor-ready materials.
Recruit, mentor, and develop a high-performing finance team; define org structure, career paths, and succession plans to scale finance capabilities.
Drive cost optimization, margin improvement programs, and continuous process improvements across finance and cross-functional teams to improve operating efficiency.
Lead compliance for regulatory filings, grants, contractual reporting, and any public company obligations (if applicable), ensuring timeliness and accuracy.
Provide strategic financial guidance for product launches, international expansion, channel partnerships, and capital expenditure planning.
Maintain and enforce ethical standards and financial transparency across the organization; act as a trusted advisor to the CEO on financial and operational tradeoffs.

Secondary Functions

Support ad-hoc executive requests and commercial analyses, including new business models, pricing pilots, and partnership economics.
Assist HR and leadership with workforce planning, compensation modeling, and benefits cost forecasting.
Facilitate cross-functional alignment on KPI definitions, unit economics, and reporting standards that enable consistent decision-making across Sales, Product, and Operations.
Participate in technology selection and governance for BI and analytics tools that integrate with financial systems to improve data-driven decision-making.
Support sustainability and ESG reporting initiatives by coordinating financial data collection, KPI measurement, and external reporting requirements.
Represent finance in strategic initiatives such as digital transformation, operational excellence programs, and enterprise risk workshops.
Coach non-financial leaders on financial literacy, budget ownership, and forecasting discipline to increase organizational financial accountability.
Lead post-transaction remediation and integration tasks, ensuring control environments and accounting practices are standardized across acquired entities.

Required Skills & Competencies

Hard Skills (Technical)

Financial strategy and corporate finance: capital allocation, valuation, ROI analysis, and investment prioritization.
Financial planning & analysis (FP&A): advanced budgeting, forecasting, variance analysis, and rolling forecasting processes.
Financial reporting & accounting: GAAP and/or IFRS reporting, consolidation, revenue recognition, and complex accounting issues.
SEC reporting & public company experience (if applicable): 10-Q/10-K, earnings release preparation, and investor reporting.
SOX compliance and internal controls design, testing, and remediation.
Treasury and cash management: liquidity planning, debt management, covenant compliance, and cash forecasting.
Mergers & acquisitions: due diligence, deal modeling, purchase accounting (ASC 805 / IFRS 3), and integration planning.
Fundraising and investor relations: equity/debt placement experience, investor presentations, and capital markets navigation.
ERP and financial systems expertise: implementation and optimization experience with platforms such as SAP, Oracle NetSuite, Workday, Sage Intacct.
Advanced financial modeling and valuation skills (DCF, LBO, scenario / sensitivity modeling) using Excel and modeling best practices.
Business intelligence and reporting tools: Tableau, Power BI, Looker, or similar; familiarity with SQL a plus.
Tax planning and compliance knowledge: corporate tax structuring, international tax considerations, transfer pricing basics.
Cost accounting, pricing analytics, and margin optimization methodologies.
Experience with audit management and coordination with external advisors and auditors.

Soft Skills

Strategic thinker with the ability to translate financial data into actionable business strategy.
Strong leadership and team-building capabilities; proven experience building, coaching and scaling finance organizations.
Excellent communication and presentation skills tailored for executives, boards, and external stakeholders.
High integrity and credibility; trusted advisor to executive teams and board members.
Commercial mindset with strong business partnering skills across Sales, Product, Operations, and HR.
Decisive problem-solver who can operate in ambiguity and guide the organization through change.
Stakeholder management and influence — able to align diverse teams around financial priorities.
Project and change management skills to execute complex initiatives (ERP implementations, integrations).
Attention to detail and operational discipline while maintaining a strategic, big-picture orientation.
Resilience and adaptability in fast-paced, scaling or transformation environments.

Education & Experience

Educational Background

Minimum Education:

Bachelor's degree in Finance, Accounting, Economics, or Business Administration.

Preferred Education:

MBA, CPA, CA, or other relevant advanced degree/certification (e.g., CMA, CFA).

Relevant Fields of Study:

Accounting
Finance
Economics
Business Administration
Corporate Finance
Taxation

Experience Requirements

Typical Experience Range: 10–20+ years of progressive finance experience across accounting, FP&A, treasury, and corporate finance roles.

Preferred:

15+ years of finance experience with at least 5–10 years in senior leadership roles (CFO, VP Finance, Corporate Controller).
Experience leading finance for scaling private companies, high-growth startups, or public companies.
Proven track record in capital raises, M&A transactions, financial transformations, and establishing finance best practices.
Industry-specific experience may be preferred depending on the company (technology, healthcare, manufacturing, fintech, retail, etc.).