Updated: April 1, 2024
For small business owners and nonprofit executive directors, successful financial management is key to long-term success. Even if you have a bookkeeper or accountant, your organization still may require more specialized advice. If you don’t have the budget for a full-time CFO, what should you do? That’s where a Fractional CFO comes into play, and you’ll need a job description if you’re looking to hire one.
This blog post details what a Fractional CFO does, including their hourly rate, retainer strategy, and salary. Most importantly, we’ve included a job description you can use to find the ideal candidate for your organization. Let’s dive in!
What is a Fractional CFO?
A Fractional CFO is a finance professional who works part-time or on demand, rather than full-time. They help multiple clients by offering top financial advice without the high cost of a full-time executive. A Fractional CFO is an affordable solution for businesses and nonprofits with a limited budget. They can assist with budgeting, financial planning, cash flow management, and strategic investment decisions.
Fractional CFO Job Description
A good job description is crucial to effectively communicate your requirements for a Fractional CFO. You should include a comprehensive introduction to your company, a detailed job overview, responsibilities, requisite skills, availability expectations, and application instructions. Here is what you need for a comprehensive job description:
- Company Introduction
Commence by presenting a thorough yet succinct introduction to your organization. Detail out your mission, unique attributes, and core values. - Job Description
Follow the introduction with a brief overview of the job. Discuss the expectations from the role and the kind of candidate you are looking for. - Responsibilities
Outline the tasks the Fractional CFO will handle. These may be creating strategic plans, overseeing financial operations, managing financial reports, and giving advice on raising funds. - Skills and Qualifications
Specify the educational requirements, experience, skills, and certifications required for the role. Mention soft skills like communication and decision-making abilities. Also, emphasize an understanding of financial analysis, human resources, budgeting, and forecasting. - Availability
While the role is part-time, specify your requirements for regular availability for team meetings and finance-related discussions. - How to Apply
Conclude with the application procedure. Request the inclusion of a detailed resume, cover letter, references, and any additional certifications.
