Chief Financial Officer

Financial Services

CFO: The Most Important Executive Roles in Today's Business World!

CFO is also known as Chief Financial Officer. We all have several questions about the importance of CFO, the knowledge required to be a well-qualified CFO, the experience required, the job they do, and many more about such questions about CFO and CFO services in UAE. So, today let’s read and understand what are the various questions one researches about when they think of understanding what a CFO is and how CFO services are offered in the United Arab Emirates (UAE).

 Almost every organization has a post of CFO, and it is the 3rd highest post in any organization and the highest-level post in the field of business in any organization. CFO directly reports to the CEO (Chief Executive Officer) of the company and organization or to the BOD (Board of Directors). 

Almost every organization follows this posting level for running the organization in a systematic manner. On top there is BOD (Board of Directors) then at 2nd level we have CEO (Chief Executive Officer) after that at 3rd level we have 4 to 5 positions and it varies from company to company all these are: –

  1. CFO: – Chief financial officer
  2. CTO: – Chief Technology Officer
  3. CMO: – Chief Marketing Officer
  4. CLO: – Chief Legal Officer
  5. COO: – Chief Operating Officer
  6. CIO: – Chief information officer

At 4th level we have all managers and each CO (Chief Officers) have its own managers which manage the teams in some organization they are also called Reporting Manager (RM) or GM (General Manager). This is the ranking position of almost every organization. All CO work with their own teams and every CO has their own field to work. CTO can’t manage CFO work or CFO team and vice versa. Each of them has their own importance in the organization due to their contribution in their own sector to the organization. CTO is responsible for technical fields, CFO for financials, CMO for marketing. 

If we talk about the business or financial world, the CFO is the most important person in the organization and as I have discussed above CFO is the highest ranking post in the field of Business. They are important due to the responsibilities they have. The CFO’s duties include financial planning, keeping track of cash flow and expenditures, managing financial risks, creating and enforcing internal accounting, handling investment and taxation issues and financial policies, collecting and managing financial data, reporting financial performance to the board, and helping develop the strategic direction of the company. 

They manage all the finances and help the organization to make a profit and also grow. If they fail then the organization has to face lots of issues related to finance, and the financial growth of the company stops. They deal with projects that CTO is onboarding, the market strategies which are made by CMO, and many more. CFO has varieties of work in the organization and CFO has to work with all the COs.


CFO services uae

The skills required for CFO: -

  1. Accounting skills: The CFO should be proficient in accounts and should have the power to lead the accounts department.

  2. Analytics skills: The CFO should have analytical skills to solve complex issues in the organization.

  3. Communication skills:  The CFO should have strong communication skills to effectively communicate the financial health and strategic goals of the company to the CEO, board members, stakeholders, the C-suite, vendors, etc.

  4. Leadership skills:  The CFO should have strong leadership skills, which enable to delegate and supervise the financial operations and business strategy of the company effectively.

  5. Budgeting skills: The CFO should have budgeting skills for financial management.

  6. Tax skills: The CFO should have a strong understanding of tax accounting principles.

  7. Legal skills: The CFO should have legal skills.

  8. Risk management skills: To grow the business and improve the overall financial standing of the company, the CFO must have risk management skills.

These are some important skills that a CFO has. These are related to Finance, Law, Leadership, and communication. They also hold some degree related to Finance, Account like MBA, M. Com or M.Sc./MTech.

RSN Consultancy Accounting & bookkeeping firm

So now, we know about CFO duties, skill sets, and Degrees required. And in the above discussion, you might have seen how a CFO is important in any organization or to run an organization. They manage all the financial and business plans of the organization. Connect with RSN to know more.

Have Any Questions?

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.

Read More from our Latest Blogs