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 Torquay
Torquay is located on the East-facing coastal area of Devon, in the area called Torbay. Exeter is 17 miles (27 km) to the north and Plymouth is 27 miles (43 k) to the west. Torquay was a tiny fishing and farming village until the Napoleonic wars, when the Royal Navy would take anchor in the bay and the members of the upper ranks would often go to shore in the area. It soon gained a reputation as being a healthy place to stay and by the 19th century, just in time for the arrival of the railways it became a famous spa town and later, a tourist resort. Nowadays it has a static population of around 65,000 but in high season this can swell to 200,000, the size of a small city.
Tourist towns almost always have great logistical requirements, which is why Fractional Chief Finance Officer jobs can sometimes become available in the town or the surrounding area. Torquay is not particularly industrialised, but there are several trading estates dotted around the outskirts. Plymouth and Exeter are better employers and are both nearby, which does make Torquay a popular commuter town, and people living there seeking non-tourism related work will often look north and west.
For its population, Torquay has produced a fair number of world-famous people. Top of the pile is thriller author Agatha Christie, for whom a mile of plaques, the “Agatha Christie Mile”, is dedicated. Peter Cook, one half of Pete and Dud, was born in the town, as was comedy actor Miranda Hart and model Lily Cole. Sketches of The Goodies and Monty Python’s Flying Circus were filmed there, and it was during one of the latter’s stays that the team happened upon a grumpy hotelier who became the inspiration for Basil Fawlty, TV’s most famous Torquay-based hotel owner.
Popular locations
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.
Contact us