The CFO plays an extremely key role in the successful performance of
the company. On the one hand, it has the responsibility to provide timely
and accurate financial information, which is the basis of all important
business decisions. On the other hand, the CFO must carefully monitor and analyse
changes in the economic environment in which the company operates and detect
any new opportunities or emerging risks. The CFO is a key figure in the
preparation of short-term plans and long-term strategy of the company.
The CFO is the Face of the Company
The CFO is the face of the incorporate company
in USA in front of its partners - auditors, banks, government
institutions, so he must have well-developed communication skills, as well as
those for negotiating and resolving conflicts. It is therefore important
that the selection and evaluation process includes more than one meeting and
that both the line manager and the human resources director and the commercial
director are involved.
In view of the correct assessment of the social skills of the
candidate for this responsible position, I advise to gather informal
recommendations from people who know his previous work and
style. Undoubtedly, teamwork and management style are key for the
financial manager, so the relationships with people from different hierarchical
levels in the company should not be underestimated.
Demand of CFO
Usually practice shows that employers are looking for a CFO with
serious life experience, based on which he can make a reasonable assessment of
risks, scenarios and situations, whether directly related to the company's
business or the team. By no means are qualities and skills, such as
analyticalness, attention to detail, logic and good organization, to be
neglected. Recently, more and more requirements for the position of CFO
are related to his determination, proactivity, self-confidence, sense of
self-control.
Financial professionals work with a huge amount of sensitive and
confidential information, so it is important to check their overall reputation
in the market in advance, including through references from former
employers. The level of ethics must be high and despite the fact that a
CFO has the necessary experience and personal qualities, companies should also
take into account his professional ethics and give it more weight.
What are the most important principles that a successful CFO must
follow?
In order to be able to meet the new challenges of the profession,
the successful CFO, in addition to the classic financial knowledge and skills,
must know in detail all areas of the company. He must also have
communication and leadership skills and be a visionary. The balanced mix
of this knowledge and skills guarantees success in the career of any CFO. Ge
should be able to manage the tasks of obtain an ITIN
number.
CFO must stay up to dated
The change in the role of the modern CFO imposes new standards of
work in the field of corporate finance. CFOs must constantly strive to
develop these standards and to impose and promote good practices in this
area. The challenges facing the modern CFO are constantly increasing and
we must strive to adequately meet these challenges.