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 Stockton-on-Tees
Stockton-on-Tees is a large town to the west of Middlesbrough, which is historically notable as being one end of the Stockton and Darlington Railway, the first commercial railway in the world, which opened in 1825. The railway wasn’t built for fun, though – Stockton was an important industrialised town that had a thriving shipbuilding industry as well as a market that attracted people from miles around. Other industries connected to shipbuilding, such as rope-making and sail-making, also prospered. Two years after the railway was opened, in 1827, another world-changing event took place in Stockton – the strikeable match was invented by local chemist John Walker.
Heavy industry declined in the post-war period, and Stockton residents were more likely to commute to Middlesbrough, Hartlepool or Darlington to work than to work close to home. However in the 1990s and 2000s there was a good deal of redevelopment, with business parks being constructed and a new industry – the call centre – making an appearance here, along with other North East towns and cities. The friendly nature of the local accents is often cited as one of the reasons for the concentration of call centres in this area.
In 2012 Stockton-on-Tees became one of Mary Portas’s twelve “Portas Pilot” town centres which are set for regeneration via some government cash and a sprinkling of expertise. The regeneration is hoped to create new jobs and give the retail sector a boost, which could be good news for anyone looking for a Fractional Chief Finance Officer job in the town. With plenty of heavy industry in the immediate vicinity, it’s definitely worth having a local search, too.
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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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