How to successfully hire an CFO?

A good CFO is essential for any business, as they are responsible for financial decision-making and strategy. A CFO must be able to manage the company’s financial resources, plan for the future, and ensure the financial health of the business. They must be able to create and analyze financial reports, create budgets, and provide financial advice and guidance. CFOs must also be able to communicate effectively with other members of the executive team, board members, and investors. A good CFO can help ensure that a business is operating efficiently, meeting its financial goals, and making sound decisions.

What are responsibilities of an CFO?

1. Developing and overseeing the implementation of financial strategies.

2. Managing the financial operations of the organization.

3. Monitoring and analyzing financial performance.

4. Preparing and monitoring budgets.

5. Implementing and maintaining internal controls.

6. Ensuring compliance with legal and regulatory requirements.

7. Developing and managing financial policies and procedures.

8. Advising the executive team on financial decisions.

9. Developing financial plans and forecasts.

10. Negotiating with lenders, investors, and other financial partners.

11. Managing relationships with external auditors and tax advisors.

12. Analyzing and interpreting financial data.

13. Providing leadership and guidance to the finance department.

14. Identifying and mitigating financial risks.

15. Reporting financial information to stakeholders.

How to interview an CFO candidate and which questions to ask?

  1. Review the candidate’s resume and ask questions about their experience. Ask them to explain the challenges they faced in their previous positions and how they overcame them.
  2. Ask them to explain their financial strategy for the company. What type of investments do they plan to make and why?
  3. Ask them to describe their financial management style. What types of financial decisions do they prefer to make?
  4. Ask them to explain their understanding of the current financial regulations and how they plan to comply with them.
  5. Ask them to explain their risk management strategies. How do they assess the potential risks of any financial decisions?
  6. Ask them to explain their budgeting process. What tools do they use to create and manage budgets?
  7. Ask them to explain their vision for the company’s financials and how they plan to achieve it.
  8. Ask them to describe their approach to financial forecasting. What methods do they use to predict company performance?
  9. Ask them to explain their experience working with investors and stakeholders. How do they manage these relationships?
  10. Ask them to explain their experience working with auditors, lenders, and other financial institutions. What strategies do they use to ensure that the company’s finances are in order?

Recruiting in Finance sector is one of Profesio’s specialities. Contact us if you want us to support you

Author: Jurja Prpić


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