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 South Shields
South Shields sits at the mouth of the Tyne in Tyne and Wear, about 8 miles (13 km) downstream of Newcastle-upon-Tyne and Gateshead, and about the same distance north of Sunderland. Although mining, shipbuilding and docks played a massive role in the town’s emergence during and after the Industrial Revolution, much of these industries has now been closed down, and the town relies on the service sector for local jobs. More likely, however, South Shields’ inhabitants will commute to Newcastle or Sunderland for their working lives. The port is still active, and although it is a shadow of its former self, seems to be growing.
The town punches above its weight when it comes to the list of famous people who were born or brought up there. The director of Alien, Prometheus, Thelma and Louise and Gladiator, Ridley Scott was born there, as were F1 genius Sir Frank Williams, Python Eric Idle, novelist Catherine Cookson and comedian Sarah Millican. At least some of them still have their Tyneside accents!
If you’re looking for Fractional Chief Finance Officer jobs in South Shields, it might be worth expanding your search a little to take in the surrounding towns and cities and perhaps even to look for related jobs rather than an exact match. Although the docks are active, there will be more diversity in Newcastle, Sunderland and Gateshead. Please ask our consultants if you are interested, as they will be able to do a more general search and flag up other positions that might be of interest.
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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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