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 Middlesbrough
Middlesbrough is one of several industrial powerhouses that served England’s North Sea coast during the Industrial Revolution and the age of empire, along with Hull, Newcastle-upon-Tyne, Sunderland, Hartlepool and Grimsby. It is a town of over 140,000 population which has had to perform a degree of reinvention in the post-war period as the docks fell into disuse, but the chemical plant at nearby Wilton and the steelworks continue to be strong employers to this day.
To the west of the city is Stockton-on-Tees, which was one end of the famous Stockton and Darlington Railway, the first public railway in the world. The railway had a massive effect on Middlesbrough’s economy when it was opened in 1825. The city is still well connected, with good road and rail links and Teesside Airport serving domestic and short-haul needs. With this rich mix of industries and a large population to cater for, Fractional Chief Finance Officer vacancies often emerge in Middlesbrough.
The city has a long list of notable people who hail from its street or its nearby area. A few famous names include football legends Brian Clough and Don Revie, rugby union star Rory Underwood, conjuror Paul Daniels, comedian Bob Mortimer (of Vic and Bob fame), guitarist Chris Rea and Corrie actors Thelma “Mavis Riley” Barlow and Chris “Brian Tilsley” Quinten, to name but a few. There must be something in the water!
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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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