The Cfo, or chief financial officer, of an organization is key to a given company’s strategic management and reports to the president as a senior member of the team. He or she is involved in overseeing the financial component of all major company decisions and the day-to-day implementation, planning and management of all financially related company activities.
Duties in this role of leadership include continually evaluating the long-term and short-term financial objectives of the company, directing all the organization’s accounting and financial functions, coordinating with all senior-level managers, budgeting, forecasting and ensuring compliance with governments, tax agencies and financial regulations.
It is possible to become a Cfo after some years of working successfully in a financial leadership role (typically 10 or more). The individual also must possess a bachelor’s degree in finance or accounting, and typically a CPA, MBA or equivalent certification is necessary. The salary of those working in this position in Canada varies greatly, stretching from about C
$80,000 per year to well over C
$200,000, plus substantial bonuses, in many cases.