Chief Financial Officer Job Description

Key skills

Responsibilities

• • Own the financial plan and the forecast the board, lenders and investors are held to
• • Lead financing activity, from raising equity or debt through to refinancing and covenant management
• • Manage cash, working capital and the runway the organisation is actually operating against
• • Challenge the commercial model, from pricing and discount policy to customer-level profitability
• • Present results, forecasts and financial risk to the board and its audit committee
• • Oversee statutory accounts, audit, tax and regulatory filings through the controller and team
• • Build the finance team and the systems that let it close and report quickly and accurately
• • Model and support acquisitions, disposals and major capital expenditure decisions

Requirements

• • A recognised accounting qualification or equivalent, with post-qualification commercial experience
• • Ownership of a full financial plan, rolling forecast and board reporting pack
• • Direct experience raising finance or managing a lender or investor relationship
• • Genuine command of cash management, not solely profit and loss reporting
• • Experience leading a finance team through an audit without late surprises
• • Willingness and ability to challenge commercial decisions with evidence rather than instinct

Nice to have

• • Familiarity with the same revenue model, whether subscription, project-based or wholesale
• • A completed transaction, whether a raise, sale, acquisition or refinancing
• • Exposure to multi-currency operations and transfer pricing
• • Experience implementing or replacing an enterprise resource planning system
• • Board or audit committee interaction inside a regulated environment

What to look for in a great Chief Financial Officer

The differentiator is whether the candidate influenced decisions or merely reported on them. Ask for a commercial call the business made differently because of analysis they produced, and follow the thread all the way to the outcome. Test forecasting honesty by asking about a forecast they got badly wrong, what they missed, and what they changed in the process afterwards; finance leaders who have never missed either have not forecast anything difficult or are not telling you. Cash discipline deserves its own line of questioning, because plenty of profitable-looking businesses fail on working capital. Look for someone who explains numbers to non-financial colleagues without oversimplifying or hiding behind technical vocabulary.

Chief Financial Officer or Financial Controller: which does the business need

If the close is late, the reconciliations are unreliable and audit is painful, the problem is accounting execution and a strong controller will fix more, faster, for less. If the accounts are clean but nobody can answer what a customer segment actually costs to serve, whether the pricing works, or how long the cash lasts under three scenarios, that is the executive gap. Many growing organisations appoint the executive too early and end up paying senior rates for month-end close, then wonder why the strategic value never appeared. Sequencing a controller first and the executive second is a common and sensible path.

Interview questions to ask a Chief Financial Officer

Ask 'Take me through how you built your last three-year plan: which assumptions carried the most weight, and how did you stress test them?' Probe financing with 'Describe a raise or a refinancing you led, what the lenders or investors pushed back on hardest, and what you conceded.' Test control instincts with 'Where have you found a genuine control weakness, and what did you do in the first forty-eight hours?' A revealing closer is 'Tell me about a time you told the chief executive or the board something they did not want to hear, and what happened to your relationship afterwards.'

Red flags when hiring a Chief Financial Officer

Be wary of a candidate who has only ever operated inside audit or reporting and describes the commercial side in general terms, as that gap will surface at the first pricing debate. Someone who cannot walk you through a cash flow statement they built themselves, or who defers every technical question to a former team member, is presenting borrowed experience. Treat vagueness about a past restatement, covenant breach or qualified audit opinion as a topic requiring detailed references rather than an automatic disqualifier. The most serious signal is a finance leader who describes their role as making the numbers look right for the board, which is exactly the disposition the role exists to prevent.

Where to source Chief Financial Officer candidates

Finance directors and heads of financial planning at organisations one size larger than yours are the most reliable pool, since they have already seen the systems and disciplines you are growing into. Professional bodies and their regional networks, transaction advisers, audit partners and your own lenders all maintain informal maps of who is credible locally and who is quietly open to a move. Practice-trained accountants who moved into industry several years ago combine technical rigour with commercial exposure. Where the near-term need is a transaction or a system implementation, an experienced interim can bridge the gap while you run a proper permanent search.