The role of the financial director in management. What a CFO Shouldn't Do. What are the main functions assigned to the financial director

The duties of the head responsible for the company's finances include solving a fairly wide range of tasks. Strategic financial management should contribute to the efficient use of funds, in accordance with the strategic goals and current needs of the enterprise. Also, the specialist should develop ways to improve the efficiency of the use of financial resources. The main tasks include:

• ensuring the formation of the amount of funds sufficient to cover current needs;
• cash flow optimization;
• ensuring the effective use of invested capital,
• improvement of the settlement policy of the enterprise,
• profit maximization with an acceptable level of risk,
• ensuring the economic stability of the company.

Figure 1. Management reporting by example software product"WA: Financier".

Tools and tools for automating the functions of the financial director

The duties of the financial director of the enterprise involve the creation of all necessary conditions at the enterprise for the implementation of the investment and dividend policy of the company, effective management of sources of funds, income and expenses. In addition, he must provide senior management with timely and reliable information reflecting the performance of the company.

Automation tools make it possible to increase the efficiency of the financial director. A set of solutions from WiseAdvice helps to improve the quality of performance of functions assigned to the head of economic services of enterprises in Moscow and other regions of Russia. Depending on the complexity of the tasks, the financial director can use various options for the delivery of "WA: FINANCIST".

1. "WA: FINANCIST: Cash Management" allows you to automate the management of the treasury.
2. "WA: FINANCIST: Budgeting" contributes to the implementation of budget models of any complexity.
3. "WA: FINANCIST: Management Accounting/IFRS" is an excellent tool for organizing the system management accounting and reporting in accordance with IFRS standards.

All solutions offered by the Financier system allow solving a wide range of tasks and performing direct duties with high quality economic leader which depend on the accounting policy of the company. The list may include the following functional responsibilities financial director:

• management organization cash flows;
• regulation of relationships between subjects economic activity;
• ensuring efficient use of resources;
• development of measures to increase profits;
• management of the budget process;
• ensuring the capitalization of the company;
• participation in the formation and improvement of the economic policy of a commercial enterprise;
• analysis and optimal choice sources of financing in relation to the conditions and specifics of the company's activities;
• analysis of the efficiency of invested capital and search for new investment directions;
• a general analysis of the company's business activities and the development of effective methods that help optimize turnover and cash flows, increase profitability and other aspects aimed at improving performance indicators;
• organization of financial accounting at the enterprise, control of compliance of actual indicators with planned ones and analysis of deviations, reporting, provision of objective and reliable information to managers top level, coordination of information exchange between all divisions;
• general management of staff of subordinate services.

Figure 2. Analysis of cash flow in the "WA: Financier" system.

The system from WiseAdvice has been successfully implemented and used at many enterprises in Moscow and other major cities of Russia.

The job description of the financial director should include an extended list of functional duties and powers of the financial director of the enterprise. Supervisor economic structures manages the assets of the company, therefore, belongs to the category of personnel with an increased area of ​​responsibility. A well-written instruction will help the financial director to correctly fulfill his duties in accordance with the requirements of the company. It may contain the following sections:

Figure 3. An example of a treasury provision.

1. General Provisions.
This section may indicate the requirements for certain types of knowledge and the category of education that the financial director must have, indicate his status as a manager, describe who he can be appointed to the position, the subordination structure and other parameters. Special requirements may also apply. For example, for the applicant to work for a certain time as a deputy of a financial company.

2. Job responsibilities of the financial director.
This section of the instruction is of particular importance, therefore it should be set out as fully as possible and display all the functional tasks of the financial director.

3. Criteria for assessing the quality of performance of official duties.
Qualitative indicators of criteria are described, on the basis of which it is possible to control and determine the success of the performance of the financial director's official functions.

4. Rights of a specialist.
Describes the obligations of the enterprise to the specialist, such as payment wages, payment of travel expenses, organization of the workplace, benefits, provision of information and technical means, creation of safe working conditions, etc.

5. The rights of the leader.

This paragraph of the instruction defines the powers of the financial director, as a manager, and the list of duties within his competence. The provisions describe the specialist's right to:

• representation of the interests of the company in third parties,
• interacting with other leaders structural divisions,
• the ability to give orders to personnel in subordinate structures (in some cases, the financial director can control the activities of the chief accountant),
• participate in the preparation of draft orders,
• make proposals for the appointment, rotation, dismissal of personnel;
• other rights.

6. Responsibility of a specialist.
A clause highlighting the responsibility of an employee for improper performance of duties, for offenses, causing material damage and other actions contrary to the interests of the company.

To understand how to become a financial director, it is logical to read the job description of a specialist in this profile. Below is an example job description developed for the financial director. It can only be a model, since in the conditions of a particular enterprise, all points must be adapted to the specifics of the company's activities and its development strategy.

Job description and functions of the financial director

APPROVE

CEO

1. General Provisions

1. The instruction describes the duties, rights and responsibilities of the financial director.

1.1. The entity acting as financial director belongs to the category of managers.

1.2. A person who meets the following criteria is appointed to the position:

Higher financial or economic Education;

Professional work experience of at least 5 years.

1.3. CFO must know:

Legislative acts in the field of financial and economic activity of the enterprise;

State of the markets and prospects for their development;

Principles of organization of the enterprise;

The procedure for drawing up budgets;

The system of financial instruments;

Principles of money management;

Methods for assessing assets, profitability, risks;

The procedure for lending and attracting investments for the company,

resource allocation methodologies;

Rules for controlling cash flows, income and expenses;

Forms of settlements between counterparties,

tax law requirements,

Accounting,

Standards financial accounting,

Reporting forms.

1.4 The Financial Director is appointed by the Order of the General Director.

1.3. He reports directly to the CEO.

1.4. During the absence of the financial director, functional duties are performed by a person appointed in accordance with the procedure established by the enterprise.

1.6. Managers, analysts, economists from the relevant structural divisions report to the financial director.

2. Responsibilities of the financial director

2.1. Organization of company resource management, redistribution of cash flows in order to improve the efficiency of the enterprise, cost optimization, profit maximization, search and identification of funding sources.

2.2. Negotiating, accompanied by the necessary document flow, with credit and investment institutions, other external organizations.

2.3. Coordination of the work of structural divisions in order to conduct an economic analysis and determine the current state of the company and its development prospects.

2.4. Ensuring the development of the company's accounting policy, the definition of effective methodologies, the introduction of automation tools.

2.5. Enterprise asset management.

2.6. Organization of analysis of all types of expenses of the enterprise in order to further optimize costs.

2.7. Participation in the development of business plans in cooperation with other managers of the enterprise.

2.8. Organization of the budget planning process.

2.6. Execution control financial plans, adjusting the budget to increase profitability,

2.7. Development of measures that reduce the influence of factors leading to a rise in the cost of products.

2.8. Control of the consumption of borrowed funds and the effectiveness of capital investments.

2.9. Analysis of the main performance indicators of the company that affect the result.

2.10. Cash flow control, ensuring timely payments and payroll.

2.11. Development of proposals focused on ensuring the solvency and liquidity of the company.

2.12. Organization of workflow at the enterprise in the field of financial and accounting.

2.13. Control over the formation of objective reporting documentation.

3. Rights of the financial director

The financial director has the right:

3.1. Require senior management to provide the conditions necessary for the quality performance of official duties.

3.2. Make proposals aimed at improving the organization of work at the enterprise.

3.3. Participate in the preparation of projects, plans, budgets, contracts, instructions and other documents related to the economic aspects of the company.

3.4. Sign financial documents.

3.5. Give orders to subordinates in order to organize proper work.

3.6. Interact with the heads of all structural divisions on issues related to the financial and economic activities of the company.

3.7. To make proposals for improving the workflow within the limits of service competence.

3.8. Identify bottlenecks in the activities of the enterprise, propose methods and ways to eliminate them.

3.9. Timely receive the documents necessary for the qualitative performance of the duties of the financial director.

3.10. Submit proposals to management for encouragement or attraction to disciplinary responsibility employees, appointment, rotation, dismissal, prepare an appropriate order.

3.11. Participate in the development of job descriptions for subordinate employees.

4. Responsibility of the financial director

The Financial Director is responsible for:

4.1. For disclosure of trade secrets and transfer of information to third parties, if such actions caused material damage to the enterprise, and also contributed to the deterioration of the company's image in the business community and among consumers.

4.2. For non-performance or improper performance official duties, inaction when revealing an irresponsible attitude to official functions on the part of subordinates.

4.3. For causing material damage to the company under applicable law.

4.4. For breaking the law Russian Federation during the performance of official duties.

4.5. For intentionally caused harm to the company in the form of distortion of objective information, concealment of income, uncoordinated withdrawal of funds from the company's accounts.

4.6. For non-compliance with the rules:

labor protection;

Labor regulations and discipline;

Industrial hygiene and sanitation;

Fire safety;

Industrial safety.

AGREED:

Head of the legal department.

And there is a financial director of the organization, etc. However, there is another opinion that the financial director is a modern necessity for enterprises in the real sector of the economy. In this article, we will try to deal with all the prevailing opinions about the importance of a financial director, and also determine the cost of specialists occupying this position.

Requirements for a person applying for the position of financial director

Financial directors are not the most demanded employees in the field of finance and accounting, there are traditionally few vacancies for them, in 60% of cases they are placed by large companies with more than five hundred people. But this trend will soon change.

According to the Superjob.ru portal, in the payroll rating, the salary of a financial director is significantly ahead of that of other financial personnel, and their average market salary is comparable to the remuneration of a chief accountant, and sometimes even exceeds it. Which is not surprising, given the low supply / demand ratio, which is 1.7 resumes per vacancy.

Financial Director Responsibilities:

Development financial policy companies, development of measures to ensure financial stability companies;

Strategic planning of the company's financial activities;

Development and implementation of the budgeting system;

Analysis of the financial and economic activities of the company;

Management of the company's financial flows;

Control of the work of the accounting service, economic and financial departments;

- : calculation, analysis, optimization;

Negotiating with financial and credit organizations;

Statement of management accounting, preparation of management reporting;

Preparation of consolidated financial statements;

Participation in the examination of investment and business projects of the company;

Analysis and assessment of the company's financial risks;

Participation in work automation financial department, in the implementation of ERP.

Salary offers and requirements of employers

According to the Superjob.ru portal, the average salary offer for a financial director in Moscow is 185,000 rubles, in St. Petersburg - 167,000 rubles, in Volgograd - 110,000 rubles, in Voronezh - 110,000 rubles, in Yekaterinburg -140 000 rubles, in Kazan - 110,000 rubles, in Krasnoyarsk - 125,000 rubles, in Nizhny Novgorod - 120,000 rubles, in Novosibirsk - 135,000 rubles, in Omsk - 120,000 rubles, in Perm - 110,000 rubles, in Rostov-on-Don - 120,000 rubles, in Samara - 120,000 rubles, in Ufa - 110,000 rubles, in Chelyabinsk - 130,000 rubles.

In order to take the post of financial director, it is necessary to accumulate serious experience in the field of finance. Generally, applicants are required to have at least two years of experience. professional activity as chief accountant. In-depth knowledge of accounting and tax legislation, methods of analyzing economic and financial activities, practical skills in accounting, tax and management accounting, as well as experience in passing tax and audit audits are required. Salary offers for specialists without work experience in top-level positions in Moscow start from 90,000 rubles, in St. Petersburg - from 80,000 rubles.

The second salary range implies more requirements for candidates in terms of practical experience: it is necessary to have at least one year of experience as a financial director, practical skills in the field of budgeting and experience in implementing a management accounting system. According to the Superjob.ru portal, salary offers for applicants who meet the specified requirements amount to 110,000-140,000 rubles. in Moscow, 100,000-130,000 rubles. in St. Petersburg.

Excellent knowledge in the field financial management, skills strategic management, experience in attracting and managing borrowed funds, experience in companies of a certain specialization and work experience as a financial director for at least three years allow you to apply for more high salary. In some cases, this may require additional education in the field of economics / finance / management, as well as skills in transforming reporting in accordance with international standards. Salary offers in this range in Moscow reach 220,000 rubles, in St. Petersburg - 200,000 rubles.

Today, IFRS accounting is no longer the prerogative of only large companies, banks and insurance organizations. According to federal law dated 27.07.2010 No. 208 - FZ "On Consolidated Financial Statements" IFRS applies only to the preparation of consolidated financial statements for the established list of organizations. Now non-state entities will also report under IFRS pension funds, management companies of investment funds, mutual funds and NPFs, clearing organizations. Not far off is the day when IFRS reporting will be made by all organizations of the exception.

In the context of the accelerated globalization of the world economy, the topic of application international standards financial reporting is particularly relevant. Russia's accession to the WTO, the attraction of foreign investment to our country, the search for new and the preservation of traditional markets for domestic products - all this dictates the need to study and use international financial reporting standards.

Indeed, business results are better seen from IFRS financial statements and are well understood by investors around the world. Moreover, in the world, more than 120 states report on the basis of the application of IFRS.

Employers are ready to make the most attractive offers to financial directors with experience in a large company with a significant financial turnover. The minimum work experience as a financial director is 5 years. Depending on the company and the scale of the tasks, employers who have such requirements for candidates offer up to 500,000 rubles in Moscow, and up to 450,000 rubles in St. Petersburg.

Applicant portrait

58% of CFO candidates are women. 98% of applicants have a university degree. 25% of applicants own English language at a free or conversational level.

Epilogue

CFO is an actual profession in Russia in the context of the economic crisis. The knowledge of these specialists can become an additional factor in restoring the liquidity of enterprises.

Even 20 years ago in Russia, the duties of a financial director were performed by a staff of accountants. Today, in a market economy, the country needs effective managers who can manage financial flows and engage in business development. In the article, we will consider the concept, responsibilities and algorithm of actions on how to become a financial director.

Responsibilities of the Chief Financial Officer

The financial director is the head of the financial division of the enterprise. In some organizations, another definition of this position is used - financial adviser CEO.

Work specifics this employee similar to the duties of a chief accountant:

1. Manage the activities of the economic departments of the organization.
2. Determine the economic line of development of the organization. Develop measures to ensure the financial growth and stability of the company and monitor their implementation.
3. Management and control over the financial flows of the enterprise.
4. Ensuring the organization of economic security, risk analysis and control over the execution of the activities of financial departments in accordance with the legislation of the Russian Federation.
5. Financial statements.

Job responsibilities of the financial director may vary depending on the specifics of the organization. In some enterprises, he only performs the functions of the chief accountant.

Requirements for a financial director

It is extremely rare for organizations to consider applicants for the position of financial director from outside. Usually, it is more profitable and safer for an enterprise to hire an employee who has already established himself within the company. Work experience, of course, is an important indicator, but far from the last. Consider a list of the main requirements that must be considered when applying for the vacancy of a financial director.

What it takes to become a CFO:

1. Higher economic education in the following specialties - banking, business economics, accounting and auditing, finance and credit. When considering applicants for a position, preference is most often given to those who have additional legal education.
2. Experience in financial sector not less than 3 years.
3. Knowledge of the program "1C" and confident use of a PC.
4. Negotiation skills for such a position are necessary, as the CFO is involved in negotiations with partners and is authorized to solve everything important points organizations associated with the movement of funds.
5. Knowledge of the legal and regulatory framework.
6. Knowledge in tax, accounting and auditing.

In most organizations, the requirements for specialists of this level are identical, but there are also specific requests. This must be known in advance.

How to become a financial director from scratch

Here, rather, we are not talking about a large company, but about a young organization that is just starting its journey. In such cases, the probability of taking the place of a financial director while not possessing the right experience and skills, increases several times.

In small and medium-sized businesses, the position of chief accountant may be referred to as a financial director. At the same time, the necessary skills will most likely not be obtained, so a career outside the organization with such “experience” is unlikely to succeed. Therefore, first you need to familiarize yourself with how they become financial directors and how this position differs from the position of chief accountant.

How is a CFO different from a Chief Accountant?

The work of the financial director is closely related to the duties of the chief accountant, but there are also fundamental differences.

The main difference is that the competence of the financial director has the ability to direct the capital of the company for certain purposes as part of the development of the enterprise, while the chief accountant does not have such obligations.

It is also worth noting that the work of a financial director is directly related to working with business partners. The chief accountant interacts only with government agencies.

The Chief Financial Officer is responsible for analyzing the market and effectively allocating the capital of the organization in accordance with the needs of the firm. The duty of the chief accountant is to control the legality of all financial transactions of the enterprise.

It follows from the above that these two positions are at the same level, but the position of financial director is still considered the next step after the work of the chief accountant. Therefore, it is worth familiarizing yourself with the algorithm of actions on how to become a financial director after the chief accountant.

How can a chief accountant become a financial director?

As practice shows, one experience in accounting and an economic diploma is far from enough. Therefore, we will consider ways for the chief accountant to become a financial director:

1. As a rule, chief financial officers who previously worked as chief accountants have management and business management courses behind them.
2. Many accountants have an internship as a tax or financial advisor before becoming a CFO. It will be better if the specialist gains experience in the position of deputy.
3. Additional legal education is considered a definite plus in choosing a specialist for the position of director of finance.

Professional qualities of a financial director

Apart from general requirements For the position of financial director, a specialist must possess a number of professional qualities that are necessary in the work.

The CFO is the right hand of the CEO. Often, the reliability of an organization (as a partner) is judged precisely by the work of a financial director, so the first qualities that he must possess are punctuality and responsibility.

Analytical mindset - the ability to quickly assess the risks and benefits of a particular operation.

Stress resistance is an integral quality of a person who wants to take the position of financial director. A high position is always a great responsibility, therefore, TOP managers most often suffer from nervous conditions, such as depression and apathy, which quite negatively affects the work process.

If a specialist has all the qualities that are necessary for this position, then, for sure, he will not have problems in his work.

How to Become an Effective CFO

It's not easy to get a CFO position, but it's even harder to earn it good reputation in this domain. Effective managers are in great demand in the labor market, but organizations put forward serious requirements for this specialty. Still, the financial director must manage all the cash flows of the enterprise and at the same time make the work profitable. Therefore, the issue of work efficiency worries many.

Before becoming a successful financial director, a specialist, at a minimum, must receive an economic education for the very understanding of financial processes. At the same time, the director of finance is obliged to acquire new knowledge and skills every day, since the supply and demand market is quite flexible. Therefore, a specialist must be able to respond to all changes in the service sector that concern his enterprise.

Quite often, top managers take courses in public speaking and sales skills. The duties of the financial director include negotiations with business entities. To convince partners of the need for a particular operation, the skill of managing a conversation is required.

In conclusion

The question of how to become a financial director worries many. There are many manuals and books, films and trainings that offer various ways to achieve the goal of becoming a director of finance. All this can be used as an additional tool in overcoming obstacles on the way to the coveted position. But still, the future director must understand that without professional knowledge and there is nothing to do in this profession.

The job description of the financial director establishes the responsibility, functional duties, rights of the employee. The document contains qualification requirements to the employee, the order of his subordination, appointment to the position and dismissal from it.

Sample CFO Job Description Sample

I. General provisions

1. The CFO belongs to the category of "managers".

2. The Financial Director reports directly to the General Director.

3. The dismissal or appointment to the position of financial director is carried out by order of the general director.

4. During the absence of the financial director, his responsibility, functional duties, rights are transferred to another official, as reported in the order for the enterprise.

5. A number of employees are subordinate to the financial director: financial managers, analysts, controllers.

6. A person who has higher education, experience in leadership position at least five years.

7. The CFO should know:

• tax, civil, labor, economic legislation;
• methods of drawing up budgets, plans;
• organization of financial work at the enterprise;
• methods for assessing profitability, risk, assets;
• financial flow management tools;
• the procedure for lending, attracting investments, allocating resources, determining the effectiveness of investments;
• procedure for financial settlements;
• accounting standards.

8. The financial director is guided in his activities by:

• orders and directives of the management;
• the Charter of the enterprise;
• normative legal acts of the Russian Federation;
• internal labor regulations, other regulations enterprises;
• this job description.

II. Responsibilities of the Financial Director

The Financial Director performs the following functional responsibilities:

1. Manages the financial resources of the enterprise for their most efficient use in the course of the company's activities.

2. Analyzes the financial, economic condition of the enterprise.

3. Organizes research and analysis of expenses for the purchase of raw materials, materials, energy consumption, transport costs, trade and other costs.

4. Creates a business plan for the enterprise, controls the execution of budgets and financial plans.

5. Identifies deviations from planned values, develops measures to eliminate non-production costs and factors, to promptly change the budget.

6. Develops the tax budget of the enterprise.

7. Controls the correct spending of funds and the use of credit funds.

8. Analyzes the dynamics of income from the activities of the enterprise, payment of dividends, interest on loans.

9. Examines investment costs, the amount of free funds of the enterprise.

10. Interacts with accounting departments.

11. Prepares financial reports for managers and owners of the enterprise.

12. Organizes budget planning, appoints persons responsible for its implementation.

13. Manages the assets and free cash of the enterprise.

14. Determines the sources of financing for the activities of the enterprise, its investment policy, taking into account the volume of sales of products, the market situation, technical level production, economic situation.

15. Manages the development of financial accounting standards: reporting forms not approved at the legislative level, information exchange and document management systems.

16. Negotiates with commercial banks, other financial institutions and organizations.

17. Ensures timely execution of financial, settlement, banking operations, receipt of income on time.

18. Promotes timely payment of invoices to suppliers and contractors, repayment of loans, payment of wages, transfer of payments to banking institutions.

19. Prevents the formation of unused inventory items.

20. Supports financial discipline, increases the profitability of production, the company's compliance with the tax legislation of the Russian Federation.

21. Keeps records of the movement of funds and generates reports on the results of the financial activities of the enterprise in accordance with accounting standards.

22. Promotes the timely transfer of taxes and fees to state budgets, the correct preparation and execution of reporting documentation.

III. Rights

The financial director has the right:

1. Represent the interests of the enterprise in relations with contractors, government bodies on financial matters.

2. Sign documents related to financial activities enterprises.

3. Participate in the preparation of documents.

4. Send instructions to the heads of departments of the enterprise on issues of conducting financial activities.

5. Determine job responsibilities subordinate employees.

7. Submit for consideration by the manager ideas on personnel changes, proposals for incentives, disciplinary, financial penalties for employees, proposals for improving the work of the enterprise.

8. Require the management of the enterprise to provide the conditions necessary for the performance of their duties.

IV. A responsibility

The Financial Director is responsible for:

1. Violation of decrees, decisions, other governing documents of the enterprise.

2. Improper performance of one's own official duties.

3. Causing material damage to the enterprise, its employees, counterparties, the state.

4. Transfer, disclosure of personal data, trade secrets, confidential information.

5. Providing false, inaccurate information to employees of the enterprise.

6. Violation of safety provisions, labor discipline, internal labor regulations, fire protection.

7. Making unauthorized meetings by management, representing the interests of the enterprise.

This position should not be confused with or financial controller. She may not be in staffing. Usually it is created only on large enterprises or in companies whose work is directly related to finance, but there may be exceptions.

The chief financial officer focuses on creating conditions for the economic profitability of economic activity, checking tax reporting and the overall coherence of all structural divisions of his company.

The duties of the financial director differ from the duties of the chief accountant primarily in that the former has the ability to direct for specific purposes, and Chief Accountant no such obligation. If he decided to do this, he would exceed his authority.

His duties include:

He also has fairly broad powers in the field of obtaining information. It is within his competence to request any documents and information from the management of all structural divisions. The financial director can independently conduct with them business correspondence, collect, organize and analyze the data necessary for its work.

The competence of the financial director also includes instructions related to financial turnover, the conclusion of contracts with third parties and the preparation of estimates, the approval of project documentation.

He can give a variety of orders that are related to financial matters addressed to ordinary employees or heads of various services and structural divisions.

Responsibility of the financial director

In this regard, the CFO differs little from all other employees of the enterprise. He is for improper performance of his official duties. However, regardless of the content employment contract or contract, its degree cannot exceed that provided labor law RF. With the exception of cases that go beyond the scope of civil laws and go into the field of the Criminal Code.

In the event that any offenses are identified, the decision on the degree of responsibility is assumed by the competent authorities, or the case is considered in court, within the framework of the Civil Code of the Russian Federation.

CFO salary

The average salary of representatives of this position is largely related to the region and the profile of the company.

In the period of 2016-17, in Moscow it was equal to 180 thousand rubles, and in St. Petersburg it did not exceed 150 thousand. In general, throughout the country, with the exception of the capital or some special regions, it balances at the level of 90 to 120 thousand rubles.

Wages are also affected by some personal professional features. Among them, experts highlight:

• "1C" and experience in implementing ERP systems
• practical experience in budgeting and planning
• skills in financial management and complex reporting
• knowledge of the legislative and regulatory framework, subtleties and
• communication skills needed for business negotiations
• ability to master large investments or wisely allocate borrowed funds

The maximum salary level is possible for financial directors who have worked in large companies with significant annual turnover. Another positive factor is the development financial system companies from scratch or experience in crisis management.

In the same period, the maximum mark was a salary of 182 thousand rubles in Moscow and 149 thousand in St. Petersburg. For comparison, in Omsk it did not exceed 92 thousand rubles. This is how many specialists who have work experience of 5 years and have proven themselves well get.

At the same time, one should not think that the financial director necessarily receives a lot. If not at all, the employee takes such a position for the first time in his career, then you should not be surprised at a salary of 40 thousand rubles. However, if things go well, then even with three years of experience, the salary is almost never below 75 thousand rubles.

Who is more likely to become a CFO?

Quite often, the position of financial director is occupied by a person who previously worked as a chief accountant or headed some kind of internal financial service within . Another option is to work for a consulting or accounting firm. They also move to this post from the position of chief or leading economist.

Immediately after graduation from the university, it is unlikely that anyone will be trusted. The only exception is a small and medium business who can't pay big salary, but is in need of such an employee.

In addition to the features listed above, the job seeker must have an analytical mindset, the ability to abstract from minor details and high stress resistance. It's no secret that top managers of companies quite often suffer from nervousness or apathy. This leads to the constant need and inadmissibility of errors.

Some disappointment awaits the fair sex. Most of the CFOs in large and growing companies are men. Usually 35 to 45 years old, sometimes older. They are more willing to be offered such a position, because they are considered more dynamic and even adventurous. Namely, such qualities are sometimes required, associated with the sale of a business or a merger of companies, signing an agreement with an investor and a general entry into the public market.

Some studies show that among the financial directors holding positions there are quite a lot of techies who graduated from the Moscow Aviation Institute, Moscow Institute of Physics and Technology, MISI, and the first education was in no way connected with finance and economics.

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