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 Lisburn
Lisburn is a city whose centre is 7.5 miles (12 km) south west of the centre of Belfast. It is Northern Ireland’s newest city, gaining city status in 2002 for the Queen’s Golden Jubilee. The city is historically noted for its links with the linen industry, and now has a museum dedicated to the craft. To Lisburn’s north west are the banks of Lough Neagh, which at 151 square miles (392 sq km) is the largest freshwater lake in the British Isles by surface area (Lake Windermere, England’s largest, is only about 5.5 square miles in area!). The city is connected to Belfast by the M1 motorway. It is also on the railway line from Belfast to Dublin, and trains can be taken from the city centre to both capitals.
Although the population of Lisburn is roughly 70,000, it is part of The Dublin-Belfast Corridor, which is home to 3 million people. The population of the whole of Northern Ireland is just under 2 million. Close to three quarters of a million people live in the Belfast area, which means that about a third of the population is concentrated in this small area on the country’s east. The city’s population is growing steadily, and indeed the local government is attempting to boost Lisburn’s population with a set of schemes it is putting in place.
With its growing population and excellent links to Belfast and Dublin, Fractional Chief Finance Officer positions do come up in Lisburn or its neighbouring areas relatively frequently. Northern Ireland as a whole has seen more prosperity over the past decade or so, and it’s now considered a good place to invest, which can only be good news for the logistics, supply chain and procurement industries.
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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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