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 Wigan
Wigan could be the archetypal northern town, fulfilling practically every stereotype people might have of the region. It was a relatively sleepy farming and market town in between the minor cities of Manchester and Liverpool and then along came the Industrial revolution and everything changed. While most northern towns had a single trade, be it coal, mills, glass or engineering, Wigan got a bit of everything, particularly the first two. The canals and railways came to town and the population exploded, and Wigan became a real powerhouse in the region, with an estimated thousand mines running simultaneously.
And then, true to the script, the town went into decline as manufacturing went abroad or the demand for its produce waned. But the population of Wigan weren’t cowed by this. They diversified and the town is still thriving to this day. The Tote, Heinz, JJB Sports and Chinamex all have a presence here, and it’s also the home of Uncle Joe’s mintballs!
The town, which is situated between the M61 and the M6, has good shopping and employment, and has a lively entertainment sector, with revellers travelling miles for its night life. It also boasts two top-flight sports clubs: Wigan Athletic Football Club and the rugby league club Wigan Warriors. Ukulele and saucy song maestro George Formby was born in Wigan, as was 80s pop sensation Limahl (he of Kajagoogoo fame, not one of the other Limahls) and the band The Verve. Much-missed actor Roy Kinnear was born there too.
With great links to the major North West cities and towns, an active population of approaching 300,000 throughout the borough and a diverse employment status, Wigan is a great place to find a Fractional Chief Finance Officer position.
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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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