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 Oldham
Located 10 km north-east of the centre of Manchester, Oldham is a town synonymous with the Industrial Revolution, as its numerous canals and mill buildings prove. Although outside the M60, it is still an integral part of the city, with many employees living in one and working in the other. In fact, this typical Lancashire town became part of newly formed Greater Manchester in 1974.
Though the mills have now gone, the industrial ethos continues to this day, which is why excellent Fractional Chief Finance Officer positions in Oldham and its neighbouring towns of Chadderton, Royton, Shaw and Lees often emerge.
Precision engineering and tech firms have recently sprung up on the Victoria and Moss Lane industrial estates. Many of the mills have now been converted to residential or small business properties, but larger companies such as Medlock Interior, Ribble Packaging and Plastics Direct have made Oldham their home.
As Manchester’s growth as a business centre shows no sign of slowing down, towns in its orbit will continue to be attractive locations thanks to a blend of skilled workforce, excellent communications and relatively inexpensive property prices. The North West as a whole is fast emerging from the post-war slump as more and more businesses see the region as a superb place to base an HQ or regional office.
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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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