The chief financial officer (CFO) is an officer of a company whose primary responsibilities are to manage company finances. These duties include financial planning, management of financial risks, record-keeping, and financial reporting. It is vital for a business to have a CFO, as they can help the company achieve its goals.
The job of a financial officer requires the use of analytical thinking. These professionals understand how to interpret data and communicate findings to executives, other employees, and shareholders. They are also able to delegate tasks and ensure accountability. They communicate effectively with all members of a company’s financial department, as well as other executives. The CFO also teaches the company about best financial practices.
The education required for a position as a financial officer is typically a bachelor’s degree. However, some companies require candidates to have an MBA with a concentration in finance. Some CFOs also need to have five or more years of experience. A candidate’s resume should show that they have the appropriate qualifications and have relevant experience.
The financial officer must ensure that the organization’s financial records are accurate and complete. This involves conducting internal and external audits. An internal audit is a review of all financial transactions and the officer must ensure that the numbers are consistent and accurate.