WHAT DOES A CHIEF FINANCIAL OFFICER DO?

Published: May 23, 2025 - The Chief Financial Officer (CFO) oversees financial reporting and accounting functions, ensuring accurate issuance of all reports and regulatory compliance through strong internal controls. This position analyzes operational outcomes, directs financial planning and investment decisions, and drives cost efficiency and profitability through strategic recommendations. This role leads the Finance and Records Department by establishing goals, refining procedures, and managing policies aligned with the organization's long-term strategy.

A Review of Professional Skills and Functions for Chief Financial Officer

1. Chief Financial Officer Duties

  • Team Leadership: Leading a team of accounting and finance professionals supporting a $250M+ business.
  • Finance Direction: Direct the finance function for Supra & Onity globally, actively supporting and providing financial guidance to business unit leadership to achieve annual financial performance targets, ensure compliance with internal controls and accounting policies and procedures, and lead the development of accurate and timely forecasts and annual plans.
  • Financial Management: Provide leadership to the Finance team to effectively manage all P&L and balance sheet responsibilities including monthly reporting, forecasting, analysis, and cash flow.
  • Forecast Planning: Direct the annual planning and monthly forecasting processes.
  • Cross-functional Support: Provide finance support to Fire & Security Products leadership including sales, product management, operations, customer service, and engineering.
  • Sales Analysis: Provide detailed sales reporting and analysis on a weekly/monthly basis from both a channel and product line perspective.
  • Financial Analysis: Provide detailed financial analysis resulting in stronger business performance on a routine and ad hoc basis.
  • Business Reviews: Develop, coordinate, and present business reviews with FSP management.
  • Talent Development: Cultivate and mentor finance team members, ensuring succession planning is in place.
  • Performance Monitoring: Monitor financial performance, measure and analyze results, and initiate corrective actions to correct variances and mitigate risk.
  • Ethics Promotion: Promote a culture that embraces the Carrier Code of Ethics, Carrier Operating Model principles and practices, and strives for continuous process improvement.

2. CFO Details

  • Fundraising Strategy: Own company’s fundraising plans and capital structure
  • Metric Optimization: Optimize the company’s metrics (ARR, LTV, CAC, Churn), cash flow reporting, projections, and KPI's to support rocketship growth, fundraising, and exit options
  • Goal Setting: Establish objectives and Key Results (OKR’s) for the entire organization and implement strategies to fulfill these goals
  • Performance Reporting: Drive management reporting and deliver insights to the executive team on financial and sales performance
  • Financial Planning: Develop financial strategies, build models, and create budgets to drive short and long term sustainable growth and accurate forecasting
  • Process Development: Develop and implement efficient financial processes that support a rapidly growing business
  • Executive Reporting: Prepare executive management presentations, including monthly reporting packages, BOD, and QBR
  • Equity Management: Oversee, manage and advise on cap table and equity grants and support Investor Relations
  • Finance Operations: Oversee AR/AP, treasury, payroll and commissions and manage external accounting resources
  • Department Oversight: Oversee daily operational activities of the Accounting & Finance Department
  • Budget Management: Direct annual budget preparation, along with monthly financial/statistical result reportin,g with budget variance analysis
  • Cash Management: Oversee daily cash and treasury management activities

3. Chief Financial Officer Responsibilities

  • Strategic Leadership: Provide strategic financial input and leadership on decision-making issues affecting the company and evaluate and advise on the impact of long-range planning (i.e., growth, markets, strategies, and investments).
  • Finance Oversight: Lead strategy and execution across all financial functions including accounting, finance, treasury, tax and strategic planning.
  • System Implementation: Implement processes, frameworks and systems that allow MIG to capture and utilize timely and accurate data across the business to make better decisions as we grow the development and construction divisions.
  • FP&A Leadership: Leadership for all financial planning & analysis, including ownership of annual budgeting, periodic forecasting, KPI/dashboard management and operational analytics processes that inform the CEO and senior management on company performance in real time.
  • Partner Management: Develop and maintain relationships with external partners that support the finance, debt, acquisitions and development infrastructure.
  • Opportunity Analysis: Develop organization prospects by studying economic trends and revenue opportunities, projecting acquisition and expansion prospects, analyzing organizational operations and identifying opportunities for improvement, cost reduction, and systems enhancements as well as strategic deployment of capital to fund further investments.
  • Technology Integration: Build MIS, AI and data analytics infrastructure while assessing emerging technologies and promoting the use of new technology systems and processes to streamline business functions and reporting.
  • Cash Management: Cash flow optimization, through cash forecasting, working capital management and investment analysis.
  • Reporting Execution: Execute a timely monthly close of all financial reporting and publish regular flash reports internally and externally to key stakeholders.
  • Capital Management: Administer banking arrangements, loan agreements, covenant compliance and maintain adequate sources of capital for the company’s current borrowings from commercial banks and other lending institutions.

4. Chief Financial Officer Job Summary

  • Financial Reporting: Accountable for all aspects of financial reporting including the timely and accurate preparation of IFRS-based financial statements, internal and external reporting on a monthly and quarterly basis
  • Control Oversight: Oversee 360insights’ financial and internal controls, ensuring the company’s policies, procedures, and controls are sufficient, well-designed, and properly followed
  • Performance Metrics: Identify, implement, and report key metrics that drive performance and decision-making, and use those metrics to provide strategic decision support to the organization by identifying opportunities for improved financial and business performance
  • Risk Management: Responsible for all tax compliance, audit, and financial risk management activities of 360insights
  • Treasury Management: Responsible for 360insights’ capital structure and treasury activities, including cash management and forecasting, foreign exchange, funding, and debt management
  • Model Development: Develop and maintain data and financial models to support investment decisions and cost-saving initiatives
  • Board Relations: Manage 360insights’ relationships with the Board of Directors and auditors, ensuring strong working relationships
  • Investor Relations: Manage 360insights’ relationships with corporate and investment bankers, investors, and auditors, ensuring strong working relationships
  • Project Leadership: Lead various business projects to support growth and other initiatives
  • SOX Compliance: Support internal controls and SOX compliance
  • Policy Establishment: Establish and maintain all finance and accounting policies and procedures
  • Team Mentorship: Lead and mentor the finance and accounting teams

5. Chief Financial Officer Functions

  • Executive Partnership: Partner with the CEO on financing strategy, board communications, investor relations, and corporate development
  • Accounting Management: Handle and improve the whole accounting process including monthly, quarterly and yearly closings and international consolidation
  • Performance Monitoring: Monitor, analyze and report financial and operational performance
  • Budget Preparation: Prepare annual budget and maintain actuals
  • Cash Planning: Manage cash flow planning process
  • Revenue Operations: Supervise subscription, billing and collection processes
  • Contract Management: Manage contract negotiation and renegotiation to optimize cash efficiency
  • Regulatory Compliance: Prepare and file all legal, administrative, HR, payroll, tax declarations and payments
  • Approval Oversight: Manage expense and investment approval processes
  • Process Optimization: Implement and optimize procedures

6. Chief Financial Officer Duties

  • Growth Leadership: Guiding the organization through strong organic growth
  • System Optimization: Implementation and optimization of best-in-class management information systems and KPIs
  • Contract Management: Ensure contract management processes and tool selection
  • Legal Compliance: Manage all HR-related legal environments in multiple EU countries
  • International Expansion: Manage the establishment of Lydia in multiple EU countries
  • Employee Relations: Manage interactions with the employees’ representative body (including all documentation and meeting calendar)
  • Legal Liaison: Manage relationships with company’s counsel
  • Equity Compliance: Manage equity-related legal aspects
  • Facility Management: Handle office leases and providers
  • Procurement Oversight: In charge of equipment purchases and company documentation
  • Office Setup: Set up offices in new countries

7. Chief Financial Officer Overview

  • Financial Leadership: Taking global responsibility in the financial area of the EPC Projects in CEE Region, Germany, Italy, and other markets that we are willing to develop
  • Department Structuring: Creation of the organization-wide structures of the finance department
  • Business Planning: Developing business plans and financial impact analysis for new projects
  • Risk Assessment: Identify risks and opportunities, understanding base assumptions for the strategic growth of the departments
  • Strategy Development: Development of financial organizational strategies by contributing financial information, analysis, and recommendations to reach strategic direction, establishing functional objectives in line with organizational objectives, and ensuring that it is properly implemented across the company
  • Goal Setting: Setting comprehensive goals for the performance of the national team’s members
  • Performance Management: Manage financial planning, periodic financial performance reviews and budget variance, ensure cash flow is compatible with company operations
  • Capital Management: Cash flow and working capital management
  • Function Oversight: Responsibility for the highly efficient and lean finance function
  • Bank Negotiation: Negotiate with the banks regarding the financial facilities for the company
  • Process Improvement: Continuously seeking process optimization and business improvement

8. Chief Financial Officer (CFO) Tasks

  • Strategic Planning: Work closely with the CEO and other leaders in the company to develop strategic, operational and financial plans
  • Team Development: Develop and expand the finance team as the Company continues to scale
  • Operational Execution: Collaborate with the leadership team to assess, develop and implement plans for the operational priorities of the business
  • Leadership Support: Provide strategic leadership and support on the evaluation of potential alliances, acquisitions, mergers and/or other opportunities for the business
  • Reporting Standards: Oversee and standardize internal Company reporting standards under GAAP accounting methods
  • Financial Reporting: Oversee the preparation of monthly/quarterly/annual financial reports, including income statements, balance sheets, cash flow statements, tax returns and ad-hoc reports for management, third-party lenders and equity owners
  • Data Analytics: Create dashboards and analytics for other senior managers and Topspin, to facilitate strategic and tactical decision making
  • Debt Management: Manage and coordinate activities related to debt instruments, including monitoring compliance and working closely with investment bankers, maintaining strict adherence to bank covenants, lenders and potential lenders
  • Budget Forecasting: Prepare annual budgets and forecasts, including cash flow forecasts, and develop appropriate analytical tools to help proactively drive business results
  • Billing Oversight: Ensure all billing processes run in a timely manner to include both integrity and completeness
  • Tax Compliance: Oversee the preparation and payment of federal, state and local tax reporting and payment

9. Chief Financial Officer Roles

  • Strategic Execution: Actively partner with the CEO and senior management team to provide macro-economic perspective, data input, and ultimately execution of the Company’s strategic plan including deployment of capital, service strategy, focusing on cash and further driving cost control
  • Risk Advisory: Advise the CEO and the senior-level management team on the financial implications and risks related to key business issues
  • Capital Strategy: Develop and prioritize capitalization strategies as appropriate and contribute to the management of the balance sheet to optimize working capital and liquidity
  • Executive Communication: Participate meaningfully across the senior management team and interact and communicate effectively with the Limited Partners and the Audit Committee
  • Competitive Analysis: Ensure timely and accurate information and analysis is provided, as well as relevant peer information and analysis to ensure the Company’s competitive position
  • Compliance Oversight: Responsible for ensuring the Company’s sustained financial integrity including compliance with internal controls over financial reporting, intercompany transactions, and other corporate compliance/governance requirements
  • Team Leadership: Lead actively the finance and accounting team in further consolidating across functions and continue to build the business systems and processes in a shared services model required to support the key operational metrics of the business
  • Change Management: Act as a catalyst to support change initiatives in concert with the senior management team
  • Control Oversight: Provide strong oversight of financial controls, measurements and systems
  • Planning Capability: Oversee a forward-looking financial planning and analysis capability, with regular communication between operating leaders and the finance team

10. Chief Financial Officer Additional Details

  • Budget Analysis: Direct the analysis and development of budgets in coordination with the long-term planning function
  • Budget Presentation: Present operating and capital expenditure budgets for review and approval by the CEO
  • Impact Review: Review the financial impact of major business decisions and operational issues
  • Goal Setting: Participate in strategic and business planning, as well as in setting financial goals and objectives for the business
  • Cash Management: Manage cash flow and forecasting, direct all financial, project-based, and departmental accounting
  • Projection Reporting: Oversee the development and reporting of cash flow projections
  • Report Preparation: Responsible for the preparation and communication of internal reports, including monthly, quarterly, and annual financial operating reports, as well as analyses of key executive and functional measures
  • Credit Negotiation: Direct the negotiation of any credit agreements
  • Covenant Compliance: Ensure liquidity and compliance with all lending arrangements and debt covenants
  • Forecast Execution: Execute cash flow forecasting to manage the company’s cash position, short-term investments and credit lines to provide for adequate liquidity

11. Chief Financial Officer Essential Functions

  • Report Oversight: Oversee and direct the preparation and issuance of the Limited Partnership's monthly, quarterly and annual reports from a financial/accounting standpoint
  • Accounting Control: Provide oversight and controls for all accounting services including payroll, accounts payable, accounts receivable, financial and tax reporting for corporate and regulatory reporting
  • Procedure Review: Review all formal accounting procedures, processes, and administration, recommending improvements to the systems in place and managing the systems going forward
  • Result Analysis: Analyze, interpret, and report operating results
  • Cost Optimization: Make suggestions that result in cost reduction and profit improvement
  • Due Diligence: Review all investment analyses, strategic/project contracts and conduct financial due diligence
  • Fund Management: Ensure that adequate funds are secured at minimum cost and surplus is invested to the best advantage
  • Loan Approval: Approve loans and investments
  • Audit Coordination: Interact with external auditors on scope of work to ensure compliance with fiscal and legal requirements
  • Department Oversight: Provides broad oversight and directs the operations of the Department of Finance and Records
  • Strategy Implementation: Develops and implements strategic framework, goals, and objectives in line with strategic framework
  • Policy Administration: Reviews, recommends, and administers policies and procedures

12. Chief Financial Officer Role Purpose

  • Fiscal Oversight: Oversee the company’s fiscal activity, including budgeting, reporting, and auditing
  • Strategic Input: Participate in high-level decisions around spend, pricing, and business strategy
  • Risk Management: Identify and address financial risks and opportunities for the company
  • Fundraising Participation: Participate in fundraising activities
  • Team Supervision: Supervise financial reporting and budgeting team
  • Cost Reduction: Drive cost analysis and reduction efforts
  • Lease Management: Manage leasing instruments
  • Regulatory Compliance: Assure legal and regulatory documents are filed and monitor compliance with laws and regulations
  • Program Evaluation: Creating, coordinating, and evaluating financial programs to include budgeting, tax planning and conservation of assets
  • System Transition: Implement transition away from QuickBooks to enterprise accounting system
  • Procurement Process: Develop procurement approval and tracking process
  • Benefit Administration: Oversee the implementation and analysis of employee payroll and benefits including compliance with 401k matching requirements for Safe Harbor plan, analysis of annual benefits offerings and any ad-hoc new benefits, and ensuring PTO accuracy

13. Chief Financial Officer General Responsibilities

  • Finance Oversight: Direct and oversee all aspects of the finance, accounting, treasury, and risk management functions of the organization
  • Team Leadership: Plan, develop, organize, implement, direct, and evaluate the organization's financial and accounting teams and other administrative teams
  • Statement Management: Manage processes for financial statements, forecasting, and budgets for the company
  • Strategy Evaluation: Evaluate and advise on the impact of long-term strategy, oversee the introduction of new initiatives and strategies to enhance the value of the company
  • Credibility Building: Establish credibility throughout the organization and with the Board of Directors as an effective developer of solutions to business challenges
  • Cash Optimization: Optimize the handling of bank and deposit relationships and initiate appropriate strategies to enhance the cash position
  • Audit Coordination: Coordinate oversight and responsibility for the execution of annual, program-specific audit, meeting the standards specified in generally accepted government auditing standards (GAGAS) and conducted in a timely manner in accordance with provisions in 2 CFR 200.501 and 45 CFR 74
  • Grant Management: Maintain fiscal responsibility of all cooperative agreements, grants, and/or contracts funded for programs and complete required reporting, budgeting, balancing, and communication with the client/funding source including the Office of Refugee
  • Insurance Monitoring: Monitor that all necessary insurance policies are in place and cost-effective
  • Strategic Partnership: Partner with the other senior executives across the company to continue developing our forward-looking company strategy and building a culture of strong ethical standards, cohesion, accountability, and teamwork
  • Capital Strategy: Partner with the CEO on financing strategy, board communications, and corporate development, utilizing existing relationships and building new ones across the real estate finance community
  • Business Planning: Partner with all members of the senior management team and other company leadership on short, medium, and long-term business strategy

14. Chief Financial Officer Roles and Details

  • Project Oversight: Oversees and directs projects, programs, and operations
  • KPI Development: Develops key performance indicators and benchmarks
  • Budget Collaboration: Collaborates with department managers to develop, implement, and administer the annual budget
  • Executive Reporting: Reporting to the CEO, dotted reporting to corporate Finance Director
  • Issue Responsibility: Responsible for the entire Financial, Accounting and Legal issues (bookkeeping included)
  • Insurance Management: Responsible for the Insurances issues
  • Payroll Processing: Salaries tax calculation and payroll payment on monthly basis
  • Bank Management: Responsible for bank accounts, bank relationships, accounts movement and petty cash
  • Cash Reporting: Responsible to produce weekly cash flow and submit to the management in Israel
  • Tax Validation: Responsible for the bookkeeper tax declaration, cross-checking and validation with the management
  • P&L Analysis: Monthly P&L preparation Budget vs Real analysis
  • Audit Coordination: Quarterly and annual review/audit

15. Chief Financial Officer Responsibilities and Key Tasks

  • Strategic Support: Assist the CEO in developing, for the Board's approval, a strategic direction and positioning to ensure the Corporation's success
  • Plan Development: Together with the CEO and the Chief Operating Officer, develop and recommend to the Board an annual operating plan and financial budget that supports the Corporation’s long-term strategy
  • Policy Implementation: Ensure the Corporation implements the accounting policies agreed by the audit committee
  • Contract Compliance: Ensure that all contracts with customers follow the revenue recognition policy prescribed by the audit committee
  • Audit Preparation: Preparation for annual audit, including coordination with the audit committee, working closely with the Chair of the audit committee and the external auditors to ensure that the annual audit is completed in a timely and efficient manner
  • Control Evaluation: Create, coordinate, and evaluate the financial controls and supporting information systems of the Corporation
  • Disclosure Oversight: Together with the CEO, approve and coordinate changes and improvements to disclosure controls and procedures and internal control over financial reporting
  • Control Enhancement: Ensure that effective internal controls are in place and take steps to enhance the internal control systems within the Corporation
  • Financial Updates: Keep the Board aware of the financial position and financial development of the Corporation
  • KPI Development: Develop appropriate key performance indicators to monitor and drive the financial performance of the Corporation
  • Staff Training: Ensure proper training of all personnel working on financial, accounting, audit or fiscal matters
  • Capital Monitoring: Oversee and monitor the Corporation’s financial position, banking and financing activities and capital structure and monitor the respect of banking and financial covenants and hedging arrangements

16. Chief Financial Officer Duties and Roles

  • Budget Preparation: Prepare the annual budget ensuring that all programs and services are appropriately accounted for
  • Continuity Analysis: Analyzes budget window to ensure proper financial continuity
  • Function Budgeting: Complete budgets for finance/accounting function, payroll and related expense
  • Statement Preparation: Preparation of all financial statements, tax returns, and governmental agency reports
  • Financial Analysis: Monthly analysis of internal financial statements, revenue and expense trends, cash flow analysis and financial projections
  • Fund Investment: Oversees investment of funds and works with the board to ensure appropriate cash flow
  • Regulatory Compliance: Ensure compliance with federal and state law, GAAP, by-laws, internal policy, and procedures
  • Payroll Oversight: Oversight/responsibility for the processing of payroll and related tax filings, AP and AR
  • Audit Delivery: Deliver the audit report to the Audit Committee/Board
  • Insurance Review: Ensure the adequacy of the Corporation’s insurance coverage
  • Tax Strategy: Oversee and monitor effective tax strategies and compliance for the Corporation
  • IT Supervision: Oversee and monitor information technology, leaseholds and procurement
  • Succession Planning: Ensure that there is an effective succession plan in place for the CFO position and other senior executives of the Corporation reporting to the CFO
  • Report Coordination: Coordinate the preparation of the Corporation’s financial statements and management discussion and analysis

17. Chief Financial Officer Roles and Responsibilities

  • Accounting Supervision: Coordinates and supervises monthly/annual accounting and billing for the organization
  • Financial Reporting: Assure timely and accurate financial reporting that is consistent with generally accepted accounting practices (GAAP), nonprofit law, regulatory agencies, and organization policy
  • Budget Preparation: Prepares organization-wide annual budget with input from directors and executive team members
  • Goal Alignment: Ensures budgets are aligned with organizational goals
  • Budget Monitoring: Meet with area directors monthly to report and monitor progress against the budget
  • Financial Analysis: Analyzes and recommends changes to programs and strategies based on financial conditions
  • Report Presentation: Prepares financial reports and presents to leadership and the Board of Directors
  • Compliance Supervision: Supervises organizational compliance for Federal, State, and Funders
  • Ledger Maintenance: Maintains general ledger, chart of accounts, and accounting software
  • Vendor Relations: Establishes and maintains constructive and effective relationships with external vendors and partners including auditors, funders, bankers, investment advisors, attorneys, and other professional advisors
  • Audit Oversight: Oversees and certifies the annual external audit and 990 process and report

18. Chief Financial Officer Duties

  • Team Leadership: Provide leadership, direction and management of the finance team
  • Financial Oversight: Oversight in reporting, risk and control, budgeting and forecasting, financial planning and analysis, treasury, tax, operations, corporate finance and project financing activities
  • Governance Compliance: Oversight of governance, regulatory compliance and matters relating to enterprise risk management
  • Cost Efficiency: Ensure programs and services that are produced in a cost-effective manner, employing economy while maintaining an acceptable level of quality
  • Fiscal Management: Oversees the fiscal activities of the organization including operational and sales budgeting, reporting and audit process
  • Goal Financing: Works with relevant functions to ensure financing to support short- and long-term goals
  • Development Oversight: Assures an effective development program by serving as the chief development officer on hiring and supervising an individual responsible for this activity
  • Fundraising Guidance: Helps guide and enable the group of businesses, its development committee(s) and its individual organization members to participate actively in the development process
  • Plan Implementation: Identify development design, implement and monitor a viable fundraising plan, policies and procedures
  • Accounting Liaison: Work includes liaising with the Chinese HQ on accounting issues, which requires knowledge of the accounting code of PRC

19. Chief Financial Officer Details

  • System Management: Manage financial systems implementations and upgrades
  • Information Integrity: Recommend improvements to ensure the integrity of a company's financial information
  • Investor Relations: Manage relationships with investors and investment institutions
  • Policy Governance: Govern accounting policies, procedures, and internal controls
  • Audit Oversight: Manage or oversee the relationship with independent auditors
  • Strategic Leadership: Provide strategic management of the Accounting and Finance functions
  • Risk Control: Recognize and control business risks and insurance requirements
  • Policy Monitoring: Maintains and monitors financial policies and procedures, creating consistencies, efficiencies, and implementing best practices
  • Planning Input: Provides input into the strategic planning process
  • Team Development: Develops and maintains a diverse, effective organization through the selection, training, compensation, review, and motivation of accounting staff
  • Performance Standards: Develops and maintains a program for high-performance standards and sound employee relations at all levels of the organization
  • Employee Guidance: Provides positive guidance and direction to employees, assists them in professional development

20. Chief Financial Officer Responsibilities

  • Finance Leadership: Subject matter lead on all Finance matters for the business in terms of high-level review of the numbers and finance business partner to the Board, investors, regulators and other stakeholders
  • Tax Strategy: Drive tax efficiency including overseeing tax planning, transfer pricing and like
  • Strategic Support: Support the organisation as a strategic business advisor
  • Deal Structuring: Provide business intelligence and finance expertise in structuring commercial deals as well as ongoing support on all corporate activities, projects, disposals, acquisitions, valuations and similar
  • Planning Execution: Drive strategic planning to ensure sustained performance and growth of the business, from intelligent and accurate budgeting and forecasting through to involvement in pricing and leading efforts in the redesign of core business processes to improve productivity and efficiency
  • Process Efficiency: Drive process improvements and efficiencies to ensure effective use of capital and prudent cash management in terms of costs/expenses
  • Risk Governance: Lead in governance, compliance and risk management
  • Data Transformation: Drive change in the finance function through better and more effective use of data and technology
  • Investor Relations: Significant involvement in investor relations including managing the working relationship with all JV partners
  • Team Management: Leadership, both directly and indirectly, of a Finance team based in multiple global locations
  • Initiative Implementation: Leads and implements major initiatives for the organization as directed by the CEO
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