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 Milton Keynes
Situated in Buckinghamshire, Milton Keynes is a new town that was designated in 1967. At the time, it was selected due to its more-or-less equal distance from Birmingham, London, Leicester, Cambridge and Oxford.
Before it was a new town, however, Milton Keynes was a village - and one with an intriguing history. Early settlements in the area date back to the Iron Age, while other inhabitants over the centuries included Romans, Normans and the Anglo-Saxons.
Today, Milton Keynes comprises a number of communities. Bletchley, for instance was an important location during the second world war - it was home to the Government Code and Cypher School, where Alan Turing (often called the father of computer science) helped to crack the Enigma code. Meanwhile, Bradwell Abbey was a Benedictine Priory and was an economic hub prior to the Dissolution of the Monasteries.
For anyone seeking Fractional Chief Finance Officer opportunities, there are a number of big names that call the region home. These include The Open University, Abbey National, Buckingham Foods and Argos. Coca-Cola has a large manufacturing site in Milton Keynes, producing Capri-Sun and Monster Energy products, as well as bulk products for distribution to companies like McDonald's.
In addition, organisations that promote sustainable energy - such as the National Energy Foundation and the National Home Energy Rating Scheme are located in Knowlhill, along with the National House Building Council, a number of law firms, graphics design companies and warehousing facilities.
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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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