Becoming a Chief Financial Officer (CFO)

As a key player in a company's management, the Chief Financial Officer (CFO) holds a strategic position. As the name suggests, they are obviously responsible for the financial management of the company, but not only that. They also assist the Director of Human Resources. Therefore, the CFO manages the human needs necessary for the proper functioning of the company. They also play a role in compliance with legislation based on the company's country of origin or the host country of its subsidiary. In concrete terms, the CFO manages disputes with clients, monitors tax declarations, and ensures compliance with regulations.

Within the company, the CFO performs versatile functions to ensure its smooth operation. They work closely with the general management. To give you some examples, the CFO:

• Ensures compliance with laws and monitors regulatory developments to ensure the company is always in compliance;
• Analyzes the financial situation and prepares a tax strategy adapted to the needs and objectives;
• Manages the various departments of the company and communicates regularly with all departments;
• Resolves disputes with clients;
• Supervises negotiations with banks and investors;
• Supports the company's administrative department.

Personal and interpersonal skills are necessary to carry out the role of CFO on a daily basis. One of the most important is obviously communication skills in order to negotiate, report to senior management, and manage teams. A good sense of negotiation is also useful. Additionally, the CFO must also have a perfect command of financial, tax, and accounting techniques. For example, they must know how to use computer tools for company management. A good command of professional English is also a significant asset for effective communication with banks, investors, clients, etc.

Has the role of CFO convinced you? In this case, you should know that a Master's degree (Bac +5 level) is required to enter this career. You can therefore join the MSc in Finance program at emlyon business school.

In France, the salary of a CFO evolves with experience gained, the size of the company, the qualifications required, location, etc. Here is the median salary for a junior, experienced, and senior position:

• Junior: €50,000 gross annual;
• Experienced: €71,000 gross annual;
• Senior: €84,000 gross annual.

A CFO has a promising career progression job. Within the company, they can become CEO, Commercial Director, Operations Director, Marketing Director, etc. They can also start their own business, become an independent consultant, become an investor, etc.

In summary, the Chief Financial Officer is an integral part of a company's senior management. They are experts in accounting, finance, and management.

emlyon business school is one of the best business schools available in France. It offers training for all levels with the guarantee of rapid professional integration.