Platinum Pacific Partners’ Post

FRACTIONAL CFO In many small and medium-sized organizations, the lack of financial resources often hinders their ability to hire a full-time Chief Financial executive. As a result, it is common for a Controller to take on the role of the de facto financial executive. However, due to the numerous urgent tasks such as transaction processing and financial reporting that they need to handle, the finance function often falls behind, failing to effectively lead the organization. If you find yourself or someone you know in a similar situation, I encourage you to consider engaging my services as your CFO on a fractional or situational basis. By doing so, you can benefit from my expertise and experience in various key areas, including: 1. Reviewing and Reporting Financial Results 2. Reviewing and Streamlining Business Processes 3. Building and Strengthening a Finance Team 4. Sourcing, Negotiating, and Maintaining Financing Arrangements: 5. Developing a Financial Model 6. Implementing Internal Controls By engaging me as your fractional or situational CFO, you can tap into our expertise and support in these essential financial areas, enabling your organization to thrive and overcome the challenges posed by limited resources. Lee MITCHELL CPA,CMA,CISA,CRISC

The Chief Financial Officer (CFO) serves as a crucial anchor for any company, providing a safe harbor for financial matters. Neglecting to hire a CFO is akin to relinquishing control of your financial destiny. It could lead to: 👉The lack of a clear succession plan for financial leadership makes the organization vulnerable in times of transition or unexpected events. 👉Lack of strategic financial planning forecasting Difficulty in managing cash flow effectively Inability to optimize financial resources and allocate funds efficiently. There is lots more, and you do not want to get stuck like that. A CFO offers invaluable support to your company in various areas, including: Succession planning Addressing financial management issues Ensuring financial reporting and compliance Contributing to strategic decision-making processes Managing cost-related issues Establishing and maintaining internal controls Considering hiring a CFO for your organization? Feel free to schedule a call using the link provided in the bio!

What Makes a Great CFO? A great CFO (Chief Financial Officer) possesses a blend of technical expertise, strategic vision, leadership qualities, and communication skills. Here are some key attributes that make a great CFO: 1. **Financial Acumen**: Deep understanding of financial principles, accounting, and financial reporting. 2. **Strategic Thinking**: Ability to develop and execute long-term financial strategies aligned with the company's goals. 3. **Leadership**: Strong leadership skills to manage the finance team and work collaboratively with other departments. 4. **Analytical Skills**: Proficiency in analyzing financial data to make informed decisions and provide actionable insights. 5. **Communication**: Clear and effective communication with stakeholders, including the board of directors, investors, and employees. 6. **Risk Management**: Identifying, assessing, and mitigating financial risks to protect the company's assets. 7. **Adaptability**: Ability to adapt to changing market conditions and economic environments. 8. **Technology Savvy**: Understanding of modern financial technologies and tools to improve efficiency and accuracy. 9. **Integrity**: High ethical standards and integrity to build trust and maintain credibility. 10. **Business Acumen**: Broad understanding of the business beyond finance, including operations, marketing, and strategy.

One of the most important financial quarterbacking positions in Business is that of being the Chief Financial Officer for a growing to mature business. Essentially you must must must have your nose firmly planted in every facet of the business from core operations, annual budgeting and forecasts and of course financial reporting, both to external stakeholders and internal stakeholders (management reporting and analysis). This does not include management and oversight of professional staff and being the key spokesperson to management and the Board of Directors as it relates to past successes and failures. There are few who have been able to walk into this role seamlessly, as the role requires core strengths in a multitude of areas and demands that the candidate be nimble enough to not be caught up in a restrictive comfort zone at the expense of other duties and responsibilities. I therefore, applaud by CFOs who make the function look easy, even though this cannot be further from the truth.

A CFO (or Chief Financial Officer) is the person responsible for the financial actions and position of the business. A seasoned strategic financial leader (aka CFO) helps your business implement best-in-class systems, processes, and procedures to support strategic decision making. A full-time internal CFO is an expensive resource to justify however if you are a smaller business. However, without one, things start to become chaotic quickly, and it’s easy to lose control and get off track. It is even harder to regain this control. Symptoms of chaos like cashflow problems and disappointing profits drag owners away from what they should be doing (focusing on clients, sales, and growth) and force them to jump from spot fire to spot fire. With advances in technology, some industry-experienced CFOs have stepped out of ‘big-corporate’ and into a portfolio of smaller companies, on an as-needs basis. These fully qualified accountants are called Virtual CFOs (vCFO). SME's can now access seasoned experts at a fraction of the cost of a full-time internal CFO, which allows them to focus on their clients and grow their business, without all the worries. If you want to know how a vCFO can help you in your business, book a discovery call today. https://lnkd.in/gSAyAiKb

What is the difference between a Chief Financial Officer (CFO) and a Finance Director (FD)? I have to confess for years I have always considered the two to be interchangeable with the CFO predominantly being a US terms and FD being the U.K. term for essentially the same role. However, I have noticed a lot of companies are now having both roles in the business with the FD generally reporting into the CFO so what is the difference? Generally the CFO will be more strategic looking and look outward. They will be heavily involved with - the leadership team in setting strategy, - looking at funding strategic growth, - liaising with external funders and - evaluating investment opportunities such as joint ventures, acquisitions or disposals On the other hand the FD is generally more inward looking and managing the finance function on a day to day basis in terms of - ensuring the finiance function is operating efficiently and effectively with appropriate finance policies in place - the information that is being produced is appropriate in terms of MI and KPIs - support the management team in making decisions on the existing business - reviewing profitability of existing products, services or divisions and working with the teams to improve profitability - ensuring the business has sufficient working capital to operate going forward. The other reason I have considered the roles to be interchangeable is that when I have been a CFO I didn’t have an FD report to me and as an FD I have never reported to a CFO. Ultimately I have been fortunate that with my range of experience I’ve been fortunate I have been able to cover both roles. This is becoming increasingly rare and is the reason that it is becoming more common to split the role.

What is the difference between a Chief Financial Officer (CFO) and a Finance Director (FD)? I have to confess for years I have always considered the two to be interchangeable with the CFO predominantly being a US terms and FD being the U.K. term for essentially the same role. However, I have noticed a lot of companies are now having both roles in the business with the FD generally reporting into the CFO so what is the difference? Generally the CFO will be more strategic looking and look outward. They will be heavily involved with - the leadership team in setting strategy, - looking at funding strategic growth, - liaising with external funders and - evaluating investment opportunities such as joint ventures, acquisitions or disposals On the other hand the FD is generally more inward looking and managing the finance function on a day to day basis in terms of - ensuring the finiance function is operating efficiently and effectively with appropriate finance policies in place - the information that is being produced is appropriate in terms of MI and KPIs - support the management team in making decisions on the existing business - reviewing profitability of existing products, services or divisions and working with the teams to improve profitability - ensuring the business has sufficient working capital to operate going forward. The other reason I have considered the roles to be interchangeable is that when I have been a CFO I didn’t have an FD report to me and as an FD I have never reported to a CFO. Ultimately I have been fortunate that with my range of experience I’ve been fortunate I have been able to cover both roles. This is becoming increasingly rare and is the reason that it is becoming more common to split the role.

What does it take to move from Controller to Chief Financial Officer? Would love to know what you think! Transitioning from a Controller to a Chief Financial Officer involves expanding skill sets and perspective beyond those that align with traditional accounting and financial reporting. Controllers are deeply involved in the accounting, reporting, compliance, and transactional aspects of finance while CFOs are expected to take on a more strategic role. Here's a list of areas that a Controller might need to develop or enhance before stepping into a CFO role: 1. Strategic Vision - The ability to contribute to strategic planning, forecasting, and guiding the future direction of the business. 2. Financial Analysis and Decision Support - Proficiency in financial analysis, modeling, and providing actionable insights that support business decisions. 3. Leadership and Communication - Strong leadership skills, including the ability to inspire and motivate teams, manage change, and communicate effectively with all stakeholders. 4. Business Acumen - A well-rounded knowledge of all aspects of the business, including operations, sales, marketing, and technology. 5. Risk Management - A broader understanding of all types of risk (operational, strategic, compliance, etc.) and the ability to develop comprehensive risk management strategies. 6. Operational Finance - Knowledge of international finance, including foreign exchange risk management, and understanding of the financial implications of operational decisions. 7. Investor Relations and External Communication - Skills in effectively communicating the company’s financial status, strategy, and vision to external stakeholders. I have developed a program, where over 12 weeks, you will learn step by step how I progressed my career from Controller to CFO. This link will provide additional information: https://lnkd.in/ePCtMiYB

Interim Financial Controller £300 - £350 a day – four days Harrogate Hybrid 3 months   Ready for your next interim Financial Controller gig with an "eco-friendly swag."? Here’s what you'll be doing: -Keep an eagle eye on all financial transactions. Think Sherlock Holmes with a calculator. -Ensure financial records are as spotless as a freshly cleaned solar panel. -Create and manage budgets that are tighter than ever. -Monitor expenses like a hawk so they can keep funding things that matter (like saving the planet). -Produce financial reports so clear and concise, they make War and Peace look like a short story. -Present complex financial data to non-financial folks without causing their eyes to glaze over. -Liaise with auditors and regulatory bodies with the charm of James Bond, minus the tuxedo. -Lead a small but mighty finance team with the charisma of a motivational speaker. -Train, mentor, and occasionally bribe (with a brew) the team to keep them performing at their best. This business cares about your results, not whether you’re at your desk at 9 am sharp. Click apply. https://lnkd.in/eNGJzEWU