What's it like to be a Chief Financial Officer?
A Chief Financial Officer (CFO) is typically the most senior financial position in an organisation. In most organisations, a CFO leads a finance and accounting team that oversees every financial aspect of the operation including budgets, accounting, financial reporting, business control, treasury and tax. Chief Financial Officers usually manage financial forecasting and budgets, support strategic goals and make recommendations across multiple departments. They may also advise on mergers, acquisitions and structural changes to a company.
Tasks and duties
- Managing the finance and accounting team.
- Providing the executive leadership with expert financial advice and proposing new financial strategies.
- Producing the company’s financial reports including profit and loss statements and balance sheets.
- Managing financial forecasting and allocating budgets.
- Approving business cases.
- Monitoring cash flow.
To become a Chief Financial Officer you will need a combination of qualifications and extensive experience.
Complete a bachelor degree in accounting, finance, business, economics or a related field.
Consider advancing your skills with a postgraduate qualification such as a Master of Business Administration (MBA).
Join a relevant industry organisation such as Chartered Accountants Australia and New Zealand (CAANZ) or CPA Australia.
If relevant to your pathway, sit professional exams set by the CAANZ or CPA Australia to obtain a Certificate of Public Practice.
Gain extensive experience in positions that develop your finance and leadership skills. You might like to build experience in one or more senior-level management roles before advancing to Chief Financial Officer.