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 Humberside
Located in northern England, Humberside was a county until it was abolished in 1996 and replaced with several unitary authorities, including Kingston upon Hull, East Riding of Yorkshire, North Lincolnshire and North East Lincolnshire. Although it may be gone in name, the communities in Humberside offer a variety of roles for those seeking Fractional Chief Finance Officer positions.
Humberside was created in 1972 as part of the Local Government Act. Before this, the regions that made up the county had been based in a variety of sectors, including agriculture, shipbuilding and manufacturing. However, the county suffered due to its north and south sections being separated by the River Humber until the Humber Bridge was completed in 1981.
These days, the regions that once made up Humberside have gone through significant regeneration and have economies that are predominantly based in the service sector and tourism.
Hull is an important port town, both for cargo and ferries to Europe. It's also home to a number of chemical and pharmaceutical companies like Reckitt Benckiser, BP, Seven Seas and Smith & Nephew.
Meanwhile, Grimsby is known for its fishing and it sees a lot of containerised cargo enter its ports every year. The fish that comes into the town is processed here and both Young's Seafood and Findus produce fresh and frozen fish products.
Other companies based in Humberside, or with large facilities in the region, include Tata Steel, Corus, Singleton Birch, BOC, Nisa Today and Ericsson.
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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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