1 / 15

The Essentials of Successful Financial Professionals: Skills, Roles, and Compensation Insights

This handout explores the key attributes that define successful financial professionals, answering questions surrounding their education, credentials, software proficiency, and job history. It delves into two primary roles: Controllers, who manage accounting functions and oversee budgets with salaries ranging from $80,000 to $100,000, and Chief Financial Officers (CFOs), who set strategic directions and manage complex financial projects with salaries between $120,000 to $160,000. Additionally, it discusses essential duties like cash management, financial analysis, and performance metrics to foster effective decision-making.

manning
Télécharger la présentation

The Essentials of Successful Financial Professionals: Skills, Roles, and Compensation Insights

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. HANDOUTS September 10, 2013

  2. We will Answer these Questions:

  3. What is it that makesGood Financial people Good? • Is it Education? • Is it Credentials? • Is it Software Proficiency? • Is it Job History?

  4. What is it that makesGood Financial people Good? • I___________ • Or a • S ____________

  5. What is it that makesGood Financial people Good? • I_________________ • Understand ___________________________ • Sense ____________________________ and _____________________________________ • A___________________________________.

  6. Tactical: Supervise all Accounting Functions Prepare Financial Statements (Upper half of pay range) Budgets & Projections Manage Cash Independently Perform Basic Special Projects and Analysis • A Controller Competence • Salary $80,000-$100,000 * * Revenues under $50 million

  7. Strategic + That Special Something Supervise Controller Duties Provides Financial Viewpoint on Management Team Interprets Financial Results Helps Set Strategic Direction Maintains a Long-term Viewpoint Confidant of Owner Undertakes Complex Special Projects like Acquisitions Manages Financing and Banking Relationship • A Chief Financial Officer Competence • Salary $120,000-$160,000 * * Revenues under $50 million

  8. Size & Complexity Industry Profit vs. Not for Profit Trajectory Impact on Bottom Line Contingent Compensation Relationship with CEO Longevity Additional Responsibilities Company Profitability Report to CEO or CFO • Additional Factors Affecting Compensation:

  9. Bring the Numbers to Life: • Monthly Reporting Package • Financial Statements • Comparison with Budgets • Comparison with Prior Periods • Trend Analysis • Explanation of What’s Behind the Numbers • What Action Do the Results Suggest • = Duties typically performed by a CFO

  10. Provide The Metrics for Success: • Weekly / Monthly Statistics and Graphs • Cost Analysis Especially Major Items • Effective Wage Rates • Performance against Compensation Plans • Make vs. Buy or Lease vs. Purchase Analysis • Profitability of Jobs, Customers or Products • Productivity Information • Fact Based Analysis of Special Opportunities

  11. Manage the Cash: • Collect Receivables • Prioritize Disbursements • Project Cash Requirements • Formulate Debt Structure • Support Banking Relationship with Credible Information • Look for Ways to Enhance Cash-flow

  12. Project and Protect: • Establish Benchmarks & Budgets • Oversee Granting of Credit • Review and Approval Procedures over Disbursements • Cost Accounting & Job Cost Systems • Ensure Tax & Regulatory Compliance • Implement Internal Controls • Seek Competitive Bids • Facilitate Preparation of a Financial Plan • Evaluate Pricing Strategies • “Mind the Store”

  13. Supply the Financial Perspective: • Management / Team Meetings • Supervise the Accounting Function, Serving as Coach and Mentor to the Staff. • Responsibility for External Relationships • Bring all of the Above Facts & Knowledge Together to Improve Management Decisions • Be an Objective Sounding Board • Proactively Address the Financial Impact of Problems and Opportunities • Assist in Setting the Company’s Strategic Direction

  14. Let’s Summarize

  15. Wisconsin6737 W. Washington St.Suite 3235Milwaukee WI 53214414-273-8060 John.Lauber@laubercfos.com Illinois5600 N River RoadSuite 800 PMB 8001Rosemont IL 60018312-841-4831Dave.Carter@laubercfos.com How to Contact Us www.laubercfos.com Sign up for our quarterly E-newsletter “Tips from LauberCFOs” at www.laubercfos.com/KnowledgeBase.aspx

More Related