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 Weston-super-Mare
Located 18 miles (30 km) south east of Bristol and directly across the Bristol Channel from Cardiff, Weston-super-Mare is a popular seaside resort that benefited hugely when the railways came its way in the 1800s. Its strange name comes from the Anglo-Saxon “west tun” (west settlement) and the Latin “super mare” meaning upon sea. One of the most influential engineers of all time, Isambard Kingdom Brunel, also used to live there, proving that peculiar names must be in the water – and probably explaining why a sleepy village got a railway!
The town did have some industry in the past. The Westland aircraft company, which was based in Yeovil, had its helicopter manufacturing and maintenance plant in Weston-super-Mare. The company is famous for its Wessex, Sea King, Puma and Lynx military, coastguard and rescue helicopter. One of the most famous helicopter pilots in the world (no, not Noel Edmonds), Prince William, pilots Sea Kings. The factory closed down in 2002, and Weston-super-Mare is now home to The Helicopter Museum.
Weston-super-Mare’s economy is mainly focused on tourism, but there is some industry and distribution activity in the area, partly due to its location as the gateway to the South West. Discount supermarket Lidl has its southern distribution centre there, and there is some other light industry in the town. While it may not seem the first place you’d look for a Fractional Chief Finance Officer job, they do come up from time to time, and there will always be a demand in nearby Bristol 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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