CFO Jobs

Business planning, budgeting, forecasting, risk and governance, and negotiations are all tasks that fall under the purview of a company's Chief Financial Officer (CFO), who is also responsible for their entire strategy planning, implementation, management, and operation of the financial division.

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The post of chief financial officer (CFO) may have been defined by large public organisations, but the chief financial officer position is becoming increasingly widespread in firms of all sizes, including small and medium-sized businesses.

This means there is ample opportunities for a wide range of CFO’s or acting CFO’s in South Africa. Every business no matter its size needs adequate financial planning to ensure that it can be successful.

Choose  your post matric qualifications carefully. Get as much financial experience as possible that can either be from work, studies or general reading.. Choose jobs that will help you learn more about financial matters so either work in the finance industry or the finance department of a company. Take on roles that  will challenge your current skills. Reseach all the current accounting qualifications presently on offer in South Africa so you can plan your career carefully as the CFO role is the highest financial position in a company. Know the difference between a CA(SA), AGA(SA) and AT(SA) qualifications etc.

Obtaining the position of chief financial officer often requires a bachelor's degree in accounting, business, economics, finance or management. You will also may need a honours or master's degree or professional accounting credential (such as a CMA or CA(SA)), and around 10 years of work experience. It may take as long as 10 to 15 years to accomplish all of these, and  ones studies and work can overlap in some cases.

According to Spencer Stuart's in-depth profile analysis of chief financial officers at the JSE Top 40, South Africa's largest publicly traded companies by market capitalisation, 90% of CFOs hold the Chartered Accountant accreditation. About one-quarter of chief financial officers (CFOs) hold advanced degrees (Masters, MBA or PhD).

It takes hard work and commitment to rise to the position of CFO. An exceptional blend of academic training and practical experience is needed to fill the role of CFO. The path to CFO does not have any easy outs. In exchange for your time and energy, though, a corporation will provide you with a position that is critical to its further growth.

The CFO has access to details and decision-making processes that few other employees do. Work in this field comes with significant potential payoffs but also significant risks.

Being a Chief Financial Officer (CFO) or a business owner that acts as their own CFO can be a very difficult position to be in, and the level of stress only increases as the size of the company you oversee grows.

Is CFO a good career?

Yes. CFOs can work in many industries and companies. It allows you to handle a company's finances at the highest level and assist in other areas. It is also a gateway to becoming a chief executive officer.

Are CFOs in demand?

Yes. CFOs are increasingly filling the role of chief executive officer. The career path from CA (SA) to CFO and then CEO is wide open.

How much does a CFO earn?

In South Africa, a CFO can expect to earn a median annual salary of R 1 031 787.