FGD Finance | BUILDING YOUR CAREER FROM ANALYST TO CFO

BUILDING YOUR CAREER FROM ANALYST TO CFO

In business, it’s often said that the finance department is the backbone of an organization, providing the important functions of financial reporting, money management, and executive advisement. From basic budgeting to complex accounting activities, finance is integral in supporting successful business operations and profitability. Do you thrive working in the area of accounting and finance? Have you thought of your future career path and opportunities for advancement? With planning, ambition, dedication and hard work, you can put yourself on a career course from analyst to upper management…and eventually to executive leadership.

If you have aspirations of becoming a chief financial officer, here are tips that give you the basics on what you can do to help your career and skills you should plan to acquire:

Become well-versed in the fundamentals of finance
CFOs are highly proficient in budgeting, analysis, compliance, risk management and other accounting principles. This expertise is a must because in an organization, the CEO and board of directors rely on the CFO to evaluate and determine that their decisions are financially sound and successful.
Get an accounting certification or go back to school for an MBA
There are specific certifications and graduate degrees that demonstrate your determination to excel and grow your career. A CPA license is often the most relevant for the role while an MBA degree is also helpful in conjunction with it. Earning an MBA can enhance your understanding of business and operations, which is another important tip mentioned below.
Expand your knowledge of the company’s business functions and operations
Having a thorough understanding of all areas of a company is critical because while meeting with others in management, discussions that take place and important decisions that are made must come from an executive who knows the business inside and out.
Plan and forge a path that includes controller and treasury positions
As you advance your career, apply for positions of increasing financial responsibility. Job titles like controller and treasurer are past positions that CFOs have held in their career path. Such positions actually advance experience in funding and strategy execution, both of which are important aspects of a CFO’s duties.
Sharpen your professional and interpersonal communications skills
A CFO must be at the top of his/her game when communicating with the board, the CEO, fellow C-level executives, investors and any other key stakeholders of the business. Representing the company requires a professional who is well-spoken, gracious with others, and strong in conviction.
Understand the effect of technology and innovation
Technology changes from year-to-year, updating and streamlining how companies work and helping them to become more operationally-efficient, cost-effective and revenue-focused. Along with such changes come risk and exposure that a CFO must be familiar with in order to understand all opportunities and consequences of technological advancements.

Last but not least, remember through the process of building your career from analyst to CFO, BE PATIENT. With commitment and steadfast ambition, your persistence should be rewarded in time.