“Being in control of your finances is a great stress reliever.”
– Maureen O’Connell, Scholastic
A CFO is the Chief Financial Officer of an organization. He looks after the finance of the company. Although it likes like a very exciting position, it has its drawbacks. A Chief Financial Officer has to stay put with the ever changing business environment. They have to face new challenges each day. The work as a top level employee of the finance department never ends. The work is right from hiring a person with great skills to strategizing and meeting deadlines.
While all of this is very tiring already, the CFO has to also deal with factors that affect them every day. A little shift in any of these concerns can result in a drastic change to the accounts of the company.
Here are a few concerns among CFOs:
- Economic Uncertainty
The uncertain economy is one of their major concerns and believing in what their instincts say is all that they’ve got. Some feel there remain as it is and some believe that there will be a change in the economy. It is all about time and being prepared for a situation like this is the top CFO.
- Interest Rates and Currency
A change in the rate of interest is a big concern any change in it will bring a CFO in an unwanted situation. At the same time, a fluctuating rate of the currency is also a big threat as it will definitely affect the numbers on the accounting books.
Everyone is afraid of being stolen and cyber crime is an activity difficult to catch hold of. Most of the CFOs are always on the lookout for such cyber activities because it is a risk to the business assets.
- Regulatory Compliance
The ever changing regulations of the government is a big challenge to the CFOs. Keeping up with these uncertain government rules and regulations is a task that no CFO wants to face.
Unless it is beneficial to the organization the CFOs wouldn’t want to witness any change that will hamper the flow of work. They strive hard to ensure the there is more money of the organization flowing inwards and less outwards. Although the CFOs run a desirable position, they are always facing challenges and fighting their way to glory.
List of the top CFO concerns 2017.