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 Chesterfield
Situated 9 miles (15 km) south of Sheffield, the Derbyshire town of Chesterfield has more influence from this city than it does with Derby, its county capital, 21 miles (35 km) to the south. To the east of the town the M1 passes on its Nottingham to Sheffield stretch, and the west of Derby is taken up with 3 miles (5 km) of agricultural land before the start of the Peak District National Park. Chesterfield is connected to Derby, Leicester, Rotherham and Sheffield by rail. Its current population of around 100,000 makes it the most populous town in Derbyshire, second in size only to the city of Derby.
Historically a market town, Chesterfield became associated with coal mining after the discovery of a large seam in the 19th century, when the town’s population grew rapidly. The coal was discovered during the excavation of a tunnel for George Stephenson’s Derby to Leeds railway line. During construction, Stephenson moved to Chesterfield, and it was in the town that he was to end his days, aged 67. A statue of Stephenson stands outside Chesterfield railway station. The engineering legacy continued until recently, however. Chesterfield-based Markham & Co. made the machines that excavated the Channel Tunnel, among other tunnels.
Much of the heavy industry has now left Chesterfield, and in many ways the town has returned to its Market roots, although there is understandably a much larger service and local government sector now. Occasionally, Fractional Chief Finance Officer positions are filled in Chesterfield, but more so in the surrounding area, particularly Sheffield.
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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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