Path to Becoming a CFO
It takes many years of experience to be an effective CFO. A CFO usually has 10-15 years of experience. It’s one of the highest roles besides CEO. While a degree is not required, many employers prefer CFOs with an MBA. An MBA can enhance skills to be a CFO. Classes usually cover accounting, finance, marketing, management, and planning.
However, CFOs have emerged from accounting ranks. Accounting expertise is often no longer required. Any financial planning or analysis requires a CFO’s input. CFOs act as the face of a company on financial performance. Good communication skills form trust among stakeholders. These "softer skills" can be a challenge.
Education and Certification
A bachelor’s degree is generally required to become a CFO. There are exceptions as times change. But a bachelor’s degree is generally required. University degrees are necessary for most CFO jobs. Experience in the financial sector and soft skills tackle CFO responsibilities. CMA or CPA certifications help get jobs and promotions without degrees. Not all companies need CFOs right away due to the expense.
The Role of CFO
Working with the CEO, the CFO ensures positive finances. No undertakings happen without the CFO’s approval. Years of hard work and experience bring CFO influence and gravitas.