The Chief Financial Officer is responsible for managing the company’s financial risks. They are also tasked with financial planning and record keeping. Typically, the Chief Financial Officer reports to the Chief Executive Officer and the board of directors. In some cases, the Chief Financial Officer sits on the board.
The majority of Chief Financial Officers are professionally qualified accountants. Usually, they have a postgraduate qualification in the fields of finance and business management.
Within any company, the Chief Financial Officer may carry out the following duties:
- make major decisions on investing company money, calculating the risks and liquidity involved
- identify and report on the most efficient areas of a company and advise on methods to handle areas that are not showing optimal performance
- supervise or conduct economic forecasting and modelling in the interests of planning future strategies and avoiding financial risks
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