Even if there are differences per group and enterprise structures, CFO leads financial affairs along with IT, Law, Risk Management, Direct-Indirect Buying and Human Resources departments and plays an effective role in strategic administration and planning by specializing in company sustainability. Basically, CFO has three completely different heads. These are execution, supervision, and counseling. We can explain execution role as providing security of monetary charts and managing the money that’s the vital point of an organization in an optimum way. Supervision duty consists of; controlling the bills of some departments to see if these are used up in keeping with determined laws and auditing operational processes by a deliberate and unplanned way to keep away from corruption possibilities. And for counseling duty, we are able to exemplify issuing opinions particularly to the Board, CEO and all other managers about buyer-supplier business partners, new enterprise areas and products, incentives, company and department performances. CFO is the eye of the Board in the company and reliable enterprise consultant of CEO with all these attributes.

Assist of the Board and CEO could be very critical

Help of the Board and CEO is the most importing thing for CFO to fulfill all these duties and responsibilities in a proper way. Because lots of the assignments that sound nice and asked to be done, cannot be performed resulting from lack of support on inter corporate conflicts and different reasons. We can type the side effects of this kind of negative situations as a rise in firm risks and miss the opportunities.

How CFO’s can determine priorities?

And this question is crucial topic that CFO ought to pay attention to scientific and structural approach and possibly is competence within the dedication of a profitable-unsuccessful CFO. It’s not a very rational behavior to anticipate managing all these mentioned different expertise areas and subjects by one person under regular circumstances till CFO determines the proper priority and use the money supply and workforce of the company in an accurate way. S/he can still manage his profession in a proper way and, in truth, s/he can still enjoy it. These duties handled by him/her are divided into 4 teams according to significance and urgency, and CFO ought to distribute these non-stop tasks in an accurate way.

Urgent and important subjects

Urgent however unimportant subjects

Non-urgent but essential topics

Non-urgent and unimportant topics

CFO’s certainly give primacy to “urgent and important subjects” and may never work on “non-urgent and unimportant” subjects. However the level that makes the difference in that’s the time s/he spares time for “non-urgent however essential subjects.” The quintessence for this one would be; observing the personal and professional development of the employees from the bottom to the highest level that is managed by her/him and contribute in person if possible. Even when this duty is extreme and lengthy-termed, the return of it is high. Because the more s/he has a better and an outfitted group, the more they will fulfill the complex duties and responsibilities which might be provided.

Lesson: CFO ought to determine the priority in a proper way and may spend money on the well-selected team. In any other case, the occupation that CFO do would possibly turn out to be one of the riskiest profession.

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