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Even when there are differences per organization and enterprise constructions, CFO leads financial affairs along with IT, Law, Risk Management, Direct-Indirect Purchasing and Human Resources departments and plays an efficient role in strategic administration and planning by focusing on company sustainability. Basically, CFO has three different heads. These are execution, supervision, and counseling. We will explain execution role as providing security of financial charts and managing the money that is the vital point of a company in an optimum way. Supervision duty contains; controlling the expenses of some departments to see if these are used up according to determined regulations and auditing operational processes by a planned and unplanned way to keep away from corruption possibilities. And for counseling duty, we can exemplify issuing opinions particularly to the Board, CEO and all other managers about customer-supplier enterprise partners, new business areas and products, incentives, company and department performances. CFO is the eye of the Board within the company and reliable business consultant of CEO with all these attributes.

Assist of the Board and CEO may 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 most of the assignments that sound good and asked to be accomplished, can’t be completed as a result of lack of support on inter corporate conflicts and other reasons. We are able to sort the side effects of this kind of negative situations as an increase in firm risks and miss the opportunities.

How CFO’s can determine priorities?

And this query is crucial subject that CFO should pay attention to scientific and structural approach and perhaps is competence within the willpower of a profitable-unsuccessful CFO. It’s not a really rational conduct to count on managing all these mentioned completely different expertise areas and topics by one person under normal circumstances until CFO determines the proper priority and use the money supply and workforce of the corporate in an accurate way. S/he can still handle his profession in a proper way and, in reality, s/he can still enjoy it. These duties dealt with by him/her are divided into 4 teams in response to significance and urgency, and CFO ought to distribute these non-stop tasks in a correct way.

Urgent and important subjects

Urgent but unimportant subjects

Non-urgent however essential subjects

Non-urgent and unimportant topics

CFO’s definitely give primacy to “urgent and essential subjects” and may never work on “non-urgent and unimportant” subjects. However the point that makes the difference in that is the time s/he spares time for “non-urgent but necessary subjects.” The quintessence for this one would be; observing the personal and professional development of the staff from the lowest to the highest level that is managed by her/him and contribute in particular person if possible. Even when this duty is severe and lengthy-termed, the return of it is high. Because the more s/he has a better and an outfitted staff, the more they’ll fulfill the complicated duties and responsibilities that are provided.

Lesson: CFO should decide the priority in a proper way and will invest in the well-chosen team. Otherwise, the occupation that CFO do would possibly become one of many riskiest profession.

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