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 Chester
Chester is a city on the eastern tip of Cheshire, so far to the east in fact that parts of the city are actually in Wales. The city’s old football stadium actually straddled the border so that one of its goals was in Wales, the other in England. The new ground, the Deva Stadium, is entirely in Wales – but has an English car park! The name Deva comes from Chester’s Roman name. The city still ahs most of its Roman walls and there are Roman excavations in the city, but the architectural style inside the city is much more modern: Tudor, Victorian and Medieval.
The majority of the city, and all of the walled area, is situated in a natural semi-moat formed by the River Dee. Although pleasure trips go along the Dee, it isn’t navigable in and out of the city, but throughout history canals, railways and roads have connected the city with Cheshire, the Wirral Peninsula, North Wales and Wrexham. Chester is at the end of the M56 and M53 which enter its north side, and southwards it is connected by major A-roads.
Despite its somewhat gentrified appearance and affluent populace, Chester does have a relatively strong industrial heritage, although the main sources of income and employment nowadays are retail, tourism, education and government. However, the economically active population with a huge demand for goods and services does mean that Chester has a thriving logistics, supply chain and procurement sector. For this reason, it is a good place to find Fractional Chief Finance Officer work.
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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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