The Role of the Chief Financial Officer
As responsible for both the financial function and the strategy for the General Management and the steering committee, of which he is a member, the Chief Financial and Administration Officer of a group has become a major player in companies within a few years. He is at the forefront of internal or external development, oversees all reorganizations and often organizes financial communication for any event that is part of the company’s life.
Depending on the size of the group, it thus ensures the grading of the Chief Financial Officers of the branches and / or divisions, an Accounting Director, a Consolidation Director, a Director of Management Control, one or more Centers of shared services (where the general and auxiliary accounting of the various entities of the group is kept),
It is responsible for participating in the definition of the corporate strategy (and its operational modulation), the organization of financial communication and relations with shareholders and investors, as well as the supervision of the internal audit (although this department often reports directly to the Management General), legal and tax matters, human resource management and general services.
Usually in possession of a Diploma issued by a School of Economics and Business or at university level, the Chief Financial Officer of a group of companies has often completed his initial training in order to acquire an accounting and financial technical competence attested by the achievement of a bachelor’s degree in accounting.
In large corporate groups, the classic access to this function is through various experiences, for example as interim financial director recruitment of subsidiaries or Director of Management Control, but often also passing through the position of Director of Internal Auditing or Director of Accounting. It can also be noted that, in listed companies, the Chief Financial Officer has often already gained experience in a merchant bank or a Big4 type-auditing firm.
The course in Management Accounting and Corporate Finance Executive Program is dedicated to those who already work in the financial sector and want to pursue a career as a financial director. The purpose of the lessons – lasting ten days – is to make a full immersion in financial culture in order to face business management in its complexity. Managers, entrepreneurs and professionals who wish to improve and embrace this profession are the ideal figures to whom the course is dedicated. At the end of which they will be able to have under control the management of costs and revenues of the company, as well as to plan the best interventions to improve the core business of the customers for whom they work.
The courses organized by Business School make use of international teachers who are extremely trained in the field of economics and finance. The lessons will also be held by prominent managerial personalities within the corporate world, ready to share their knowledge with students who want to undertake this career path.
Financial director or statutory auditor?
Another very popular profession, and sometimes confused with that of the financial director, is that of the statutory auditor (former auditor). Although the required skills are very similar, the auditor is an accounting expert outside the company, who has the task of checking the correctness of accounting records and company financial statements.
For those wishing to pursue a career as a statutory auditor, Bologna Business School offers the Master in Finance, Control and Auditing , aimed at young graduates who want to implement their professional skills and to be able to carry out an important, demanding and intellectually stimulating job. Given the growing competition on a global level, the purpose of the master is to train aware individuals who can help companies respond effectively to the new challenges of the market, enabling them to optimize their performance and make adequate financial choices.
The Chief Financial Officer manages the company’s financial strategy. In this article, we want to share the role of the CFO: role, responsibility, competence, compensation and training. Learn about the role of the Chief Financial Officer in the job market.