Also known as a CFO, the finance officer is the person in charge of a company’s finances, investments and accounting. As they control the spending, and occasionally the funding, of a business they are very important to the success of a company. If money goes in or out of a company, the CFO monitors it
Besides the administration of the company financial system, a finance officer must also approve payouts and keeps track of employee pay and benefits. They must ensure that the company stays within its operating budget and remains profitable. To do this they approve invoices, issue receipts, create budget projections and make sure the company is in compliance with government regulations.
A CFO reports directly to the chief executive officer, so they must have excellent communication skills and be highly organised. Expertise in maths and an ability to manage other people are also essential qualities.
A bachelor’s degree in business, finance or accounting is the minimum requirement for this job, although most CFOs have graduate degrees in business fields and more than 10 years of experience in the profession. Compensation is huge, with most officers earning £180,000 or more a year.