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 Worthing
The seaside town of Worthing lies on England’s south coast, halfway between Brighton and Bognor Regis, in West Sussex. Settlement dates back to the Stone Age, and Worthing was a sleepy mackerel fishing town until the Georgian period, when grand building started springing up as it became part of the tourist trail. Much of the splendid architecture survives to this day, and the town now has a population of around 100,000.
The town is still best known as a holiday resort, Worthing does have a thriving economy that includes financial services (e.g. Aviva), pharmaceuticals (e.g. GlaxoSmithKline), government (HM Revenue and Customs) and the creative industries. There is a relatively strong manufacturing sector, too, which almost matches the employment attained by tourism-related industries. In the 1990s the town was particularly profitable, and its population are relatively affluent, especially for a town of its size.
Holiday resorts often suffer out of season, but this does not seem to the case with Worthing, which has managed to be productive and quite industrialised without sacrificing any of its Georgian charm. All this in combination makes it a place anyone looking for a Fractional Chief Finance Officer position should put on their watch list if they live in the area – you may be surprised at what comes up.
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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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