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 Basingstoke
Situated in north-east Hampshire, less than 50 miles from London and just 16 miles from Reading, Basingstoke is a lovely town that has expanded significantly since the end of the 20th century. Today, it offers a variety of possibilities for those seeking Fractional Chief Finance Officer vacancies.
With its beginnings as a Saxon village, Basingstoke was a fairly large settlement at the time of the Domesday Book, with a population of around 200, three water-powered flour mills and a weekly market.
By the 13th century, this population had nearly tripled and the town was granted a charter in 1257 - at the time, its economy mainly relied on the production of wool and cloth.
The railway arrived in Basingstoke in 1839, simplifying transport and trade between the town and London, as well as offering connections the following year to Winchester and Southampton.
Later in the 19th century, Thomas Burberry set up his first shop in Basingstoke, and his brand grew to become a household name - one which continues to be known for its luxury fashion and tartan pattern, although the company is now headquartered in London.
These days, Basingstoke is an economic hub and home to the UK headquarters of a number of large financial, insurance and technology companies - including Motorola, Sony Professional Solutions, Sun Life, The Automobile Association and ST Ericsson. Meanwhile, pharmaceuticals facilities are operated by the likes of Mercona, Valeant, Steris, Shire and Biomerieux.
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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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