Chief Financial Officer in Scotland

What is a chief financial officer?

A chief financial officer (CFO) sits on the executive board and advises the CEO on financial activities. They are considered ‘financial business partners’, and are tasked with managing commercial projects, cash flow, financial planning and with reducing risk.

Chief financial officer job description and responsibilities

The CFO job description features a wide range of weighty financial responsibilities which fit the seniority of the role. CFOs work alongside both C-suite executives and junior finance professionals as they guide and shape the business’ financial activities.

Typical daily duties include:

Managing financial control, risk and group reporting

Developing financial strategy

Reviewing, condensing and presenting business finance reports

Leading on the annual financial planning cycle

Monitoring the business’ financial plans

Maintaining compliance

Managing group tax planning and accounting

Budgeting

Maintaining investor relations

Management of investment and fundraising

Cash flow management

Fundraising

Banking covenants

Management of investment

Mergers and acquisitions

Chief financial officer job qualifications, skills and experience

CFO’s should have a strong academic background, with a BA or MA in one of the following subjects:

Finance

Accounting

Economics

Mathematics

Engineering

Executives are expected to have a minimum of 10 years’ experience in finance and to have considerable experience in a financial management position. They should be a qualified accountant (ACA or equivalent) and may find it useful to have strong niche industry experience and an MBA.

CFOs should aim to develop an understanding of robotics and automation, and how they can be integrated with existing systems and processes.

To be a good fit for the position, a CFO is expected to have some of the following personal qualities:

Commercial mindset

Strategic thinking

Excellent communication skills

Business acumen

Entrepreneurial spirit

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ERP Solutions

ERP - Enterprise Resource Planning

QuickBooks

Accounting Software Systems

Microsoft Excel

Perform Ad Hoc Financial

Accounting Functions

Budget Processes

Finance

Reporting

Salary for Chief Financial Officer in Scotland

136250 - 223450

25th Percentile

136250

Little or no prior experience in the position; still developing relevant skills.

Demand: Low

50th Percentile

185300

Some prior experience in the position; has several relevant skills.

Demand: Moderate

75th Percentile

223450

Extensive prior experience in the position; has mastered relevant skills.

Demand: High

Projected salaries for related positions

Position title

25th Percentile

50th Percentile

75th Percentile

Group Finance Director

120173

137885

152600

Finance Director

91833

109000

134615

Shared Service Centre Director

84475

95920

109000

Group Financial Controller

83385

100553

138975

Financial Controller

73848

89380

98373

Finance Manager

58315

67580

71940

Group Accountant

58860

67035

72213

Qualified Management / Financial Accountant

53955

58860

63220

Director of Audit & Risk

94830

100008

114450

Internal Audit Manager

62675

70850

76300

Internal Auditor

54500

58043

64038

Treasury Manager

71123

79025

85020

Treasury Accountant

54500

59405

67035

Tax Manager

63765

77390

95375

Tax Accountant

54773

59950

67035

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