The CFO has to build proper staffing to address the accounting and treasury functions. In the future the role will/may require Also, note that this position is frequently filled by people with strong fund-raising capability together with accounting expertise. The chief financial officer position is accountable for the administrative and financial risk management operations of the company including the development of an operational financial strategy (business plans, budgets and forecasts, dividend policies, capital management and the ongoing development and monitoring of control systems designed to preserve company assets and report accurate financial results.Planning1. Assist in formulating the company's future direction and supporting tactical initiatives2. Monitor and direct the implementation of strategic business plans, budgets and forecasts3. Develop financial and tax strategies4. Manage the capital request and budgeting processes5. Develop performance measures that support the company's strategic directionOperation1. Design and manage an organizational structure adequate for achieving the department's goals and objectives2. Participate in key decisions as a member of the executive management team3. Maintain in-depth relations with all members of the management team4. Manage the accounting, MIS/financial planning, investor relations andtax departments5. Manage any third parties to which financial functions have been outsourced6. Oversee the veracity, compliance to regulations and accuracy of the company's transaction processing systems7. Implement operational best practices8. Assist in overseeing employee benefit plans, with an emphasis on maximizing a cost-effective benefits package in line with overall strategy of the bank
The candidate for the position of chief financial officer should have a master's degree in accounting or business administration or should be a qualified finance professional, or equivalent business experience and at least 8 (10) years of relevant experience in a bank or financial institution. S/he should have experience in partnering with an executive team, and have a high level of written and oral communication skills.
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