CFO – Chief Financial Officer (Definition)

What tasks does a CFO have?

The CFO (Chief Financial Officer) is one of the members of a company’s senior management and is responsible for the entire financing apparatus. He provides transparent, targeted financial reporting on a monthly basis and ensures the expansion and systematic development of business management systems such as controlling. The CFO works together with internal and external contacts and is the leading role in the development of business management concepts. This also includes professional and disciplinary management as well as the motivation and development of employees in the Finance and Controlling departments. In the case of investors as shareholders, the CFO is also responsible for communication and reporting to stakeholders.

Requirements for a CFO

Prerequisite is a degree in business administration with a focus on finance/controlling or a comparable education. Ideally, the CFO should have several years of professional experience as well as management experience. He has very good analytical and conceptual skills, as well as extensive experience in setting up and expanding financial/ controlling and reporting processes. A high level of initiative, positive thinking and a hands-on mentality round off the profile of a CFO.