Fractional CFO Job Descriptions: A Guide for Small Business Owners and Nonprofits

Aug 8, 2023

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:

  1. Company Introduction
    Commence by presenting a thorough yet succinct introduction to your organization. Detail out your mission, unique attributes, and core values.
  2. 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.
  3. 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.
  4. 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.
  5. Availability
    While the role is part-time, specify your requirements for regular availability for team meetings and finance-related discussions.
  6. How to Apply
    Conclude with the application procedure. Request the inclusion of a detailed resume, cover letter, references, and any additional certifications.

Questions about opening a bank account?

We’re here to help.

Tyler Wilcox, CPA

 

Tyler’s extensive background in accounting, tax, and financial consulting set the foundation for Velu’s outsourced accounting solutions for nonprofits and small businesses. As a fractional CFO, he goes beyond routine duties, guiding organizations with strategic insights for sound financial decisions. Velu’s services address the unique challenges faced by nonprofits and small businesses, fostering sustainable growth. Tyler places great emphasis on meticulous attention to detail in financial record-keeping, implementing efficient systems to ensure transparency and streamline operations.

Learn more about Tyler and the Velu team on our About Us page. We’re excited to connect with you!

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