Fractional Chief Finance Officer
Employing a fractional Chief Financial Officer (CFO) offers a multitude of benefits, especially for small to medium-sized businesses seeking expert financial guidance without the full-time cost. This flexible arrangement allows companies to access high-level financial expertise and strategic insight, typically reserved for larger corporations at a fraction of the cost.
A fractional CFO is a finance professional offering part-time CFO services and is responsible for making crucial financial decisions, offering financial guidance and insights and leveraging financial strategies for the growth and stability of the company. They’re typically retained on a contract basis, synchronising financial management and advice with the firm’s operational strategies and goals.
Fractional CFOs have pivotal roles which involve managing financial risks, planning budgeting, tracking cash flow and financial planning. They also offer advice on long-term business planning including capital raising, mergers and acquisitions. These professionals have an interesting role as they bring an external perspective to the business, free from internal biases.
An interim chief financial officer typically reports to the CEO or the business owner. They may also have a responsibility to report to the board of directors or shareholders in some instances. Their decisions and strategies align to the visions of the CEO or business owner, ensuring that their role integrates seamlessly within an existing team.
Fractional CFO skills required
To be a successful fractional CFO, you need a strong foundation in accounting and finance. Solid understanding of financial forecasting, corporate finance, scenario analysis, cost accounting and the ability to analyse financial data to steer business recommendations is crucial. You should also possess sound knowledge of legal procedures related to finance and accounting.
Strong leadership skills are vital, as is the ability to direct and supervise your team to achieve business goals. You must have strong communication skills to explain complex financial information in an understandable manner to other members of the team.
In the rapidly evolving business environment, being proficient in financial technology is a must. Familiarity with financial management software, spreadsheets and data visualisation tools would serve you well.
Fractional Chief Finance Officer Jobs in Bangor
The County Down town of Bangor is a north-facing seaside town lying 10 miles (16 km) east of the centre of Northern Ireland’s capital Belfast. Newtownards is a few miles to the south, but Bangor is surrounded on all sides by lush agricultural land, making it a desirable place to live, favoured by affluent people and commuters to the city. It’s also a resort for holidaymakers and day-trippers, with parks and golf clubs aplenty. The front, which opens up onto the eastern part of Belfast Lough, has three distinct characters. To the west it is made up of low cliffs and rock formations; in amongst the rocks is a popular marina; and to the east there’s a cove with a sandy beach.
Bangor is connected to Belfast by the last remaining part of the Victorian Belfast and County Down Railway, and has two stations, with regular services. There is also the main A2 road which connects the two in a 20-minute drive. Towards the end of the journey you would pass Belfast City Airport, a commuter favourite, handy for Bangor’s business community.
At the south of Bangor is a business park with various light industry as well as leisure facilities such as ex-Formula One driver Eddie Irvine’s enterprise, an activity centre with karting, paintball, laser combat and football. With a population of around 60,000 with relatively affluent needs, logistics and supply chain positions such as Fractional Chief Finance Officer jobs do appear from time to time in Bangor, but widening your search to include Belfast would certainly pay dividends.
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Fractional CFO jobs at Cast UK
Have you carved out a niche as an accomplished interim chief financial officer and are looking for your next role? It’s a task where experience and understanding of diverse corporate environments is helpful, so if this sounds like you, we want to hear from you. Please register with us so we can forward your name to interested employers.
If your business is lacking a CFO and you like the idea of bringing in top talent on a temporary basis, there’s a wealth of experience to help when you work with Cast UK for your recruitment. Please call us on 0333 121 3345 or contact us here for more information.
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