The administrative and financial management function is more commonly called “DAF”, or “CFO” for “Chief Financial Officer”. The mission of the CFO is to monitor the profitability and solvency of the company, and to anticipate its financing needs. Generally, the Administrative and Financial Director also has a representation mission to banking or administrative services. Acting as close as possible to the management team and / or the board of directors, the CFO occupies a very strategic position. Indeed, it must give visibility to decision-makers on the good management of the company, its financial prospects, legal and financial risks, etc. As such, the CFO develops decision support tools and contributes to the overall development strategy of the company.
For a small growing company, recruiting a CFO means enriching the management team with the skills necessary for rapid development with real control of financial and legal risks. In addition, the CFO / DAF has generally received training allowing him to perform part of the missions of a HRD (Human Resources Director) in a period of transition or internal reorganization like fdcapital.co.uk
More than a million French companies do not have an Administrative and Financial Director to manage their financial activities. However, this expertise is increasingly necessary to support digital transformation. In reality, the function of CFO is essential, but represents a considerable cost for the company. This is why more and more small and medium-sized companies are opting for an outsourced administrative and financial management service.
Provided by an expertise firm, the CFO divide his time between two or three companies. Thus, this greatly reduces the cost for each of these beneficiaries. Indeed, an internal resource will always be better able to advise the manager to take new strategic orientations. Likewise, if you are faced with legal risk management issues, then having an in-house CFO to supervise the work of a lawyer and an accountant will be a definite asset!
Responsible for the financial management of a company, the chief financial officer (CFO) occupies a strategic position within the undertaking. What is the typical profile expected in terms of training and experience? What technical and professional skills are required for this position? What are the main missions of a CFO within the company? Quick overview of the job of financial director. Indispensable within the company (SME or large company), the CFO is in constant contact with the various partners of a company and coordinates the relations between them. He therefore supervises several areas of the company:
Financial: a leading player in the field of cash management, the creation of provisional budgets or financial statements and the implementation of management control tools, it oversees financial management and accounting services. If the bac +5 level diploma is essential, the most sought-after training courses remain the course in a business school, the higher diploma in accounting and management (DSCG) and the professional master’s degree in Accounting Control Audit (CCA).
Depending on its scope, the company’s turnover, the number of people managed and also its number of years of experience, a financial director can claim a salary between CHF 140,000 (for an experience of around 5 years) to 330,000 CHF gross per year for the most experienced (15 years and over).