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 Portsmouth
Although it doesn’t really feel like it when you are there, Portsmouth is technically an island city, indeed the UK’s only one, located as it is on Portsea Island and separated from the Hampshire coast by a 30-metre-wide creek. Geographically, it is about as close as possible to being the perfect natural harbour, with its small inlet hiding the large, navigable Fareham Lake. And needless to say, it is one of Britain’s most influential ports, with a wealth of military and civilian history behind it. The city was heavily bombed during World War II, but was also a key staging post for the D-Day landings in 1944.
Today, Portsmouth is an international port, with ferries and freight leaving its docks for Cherbourg, Le Havre, St Helier and Santander, among others. As with any port, Fractional Chief Finance Officer jobs are abundant thanks to its pivotal role in the international logistics network.
The city is currently booming and undergoing a major redevelopment of its central area, with new housing and shopping centres being built. The military still plays a massive role in the city, with one in ten of its employees linked to the Navy, and the UK’s two aircraft carriers being built there. The European headquarters of IBM is based in the city, as well as he UK HQs of Zurich Financial Services and defence company Northrop Grumman.
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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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