Chief Financial Officer: (CFO)

 

Qualities: 

Very well organized, hardworking, willing to put in extra hours, good at delegating responsibility, detail-oriented, dedicated to perfection, very responsible, like working with money.

 

Chief Financial Officer handles the day-to-day operations of the accounting department. This position will directly report to the COO.  This position requires a high level of multitasking and supervision of the largest department in the company.  The CFO must be able to motivate others to meet deadlines and should have good interpretation skills. The position requires contributions to the company business plan and annual report, in addition to monthly accounting reports. It should be understood that this position will require extra time beyond the “work day” to meet company deadlines. Excel is the main software this department will be using. 

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Responsibilities 

  • Supervise all operations of the accounting department and will work to maintain an efficient and positive work environment

  • Be responsible for the selection of the accounting team and their weekly performance evaluations

  • Provide all financial information for the business plan team on the business plan

  • Monitor and maintain monthly accounting tasks that include; accounting reports, payroll, collections, bill pay, and cash flow.

  • Attend and be ready to report at weekly leadership meetings 

  • You are the gatekeeper of the company's money and should be constantly monitoring the cash and wealth of the company

  • Typical Tasks

  • Have your team produce company paychecks.

  • Maintain income statements and balance sheets each month

  • Apply for the company loan and seed money

  • Monitor income, payments, and collections

  • Pay all company bills

  • Monitor company bank account

Things to Know: 

The CFO is one of the most important roles in the company.  Without a strong financial foundation, the company will quickly be in trouble. Do your best to meet deadlines, and if you stumble and don’t achieve what you set out to do the first time, learn from your mistakes and work harder. There are no secrets to success. It is the result of preparation, hard work, and learning from failure. Be organized, it will make your life a lot easier. Virtual Enterprise is a team, so do not do all the work yourself,  share the load with your department. Accounting can be a foreign language to you and your team, so ask,  if you do not understand what you need to do.  Make sure you and your team pay attention to all the little details when it comes to money in the company.

 

Competitions: Business Plan, Company Financials, Annual Report