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 Bury
Bury is situated at the northern point of Greater Manchester, outside the M60 with green, rolling countryside to its north. Although the town of Bury has a population of around 60,000, it is surrounded by settlements that form the metropolitan borough of Bury, home to closer to 200,000 people. Bury was a market town until the Industrial Revolution, when it threw itself wholeheartedly into the milling and weaving industries, and the town thrived, helped by the arrival of the canal and railway network in the eighteenth and nineteenth centuries.
Decline in Bury was quite severe as the cotton industry moved abroad, and by 1990 even the railway link to Manchester had been closed down. The town did go back to its roots somewhat and became a shopping and light manufacturing area, but its main purpose was to be a satellite and commuter town for Manchester. Bury Market has survived through thick and thin, however, and in these days of supermarkets and online shopping it is bucking the trend by not only being one of the largest open-air markets in the UK but also by actually growing. This trend was helped in 1992 when the old railway was repurposed as a Metrolink tram line right into the heart on Manchester.
Bury is quite often the source of Fractional Chief Finance Officer jobs nowadays. The town is pretty well connected by road, with the M60, M62 and M66 nearby, and the large commercial areas of Manchester, Salford, Bolton and Rochdale all within striking distance. Although it remains an important commuter town for Manchester, industry and retail do play their parts in the local economy.
Popular locations
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.
Contact us