Need to filter the candidates and hire the most adroit individual for the post of Chief Financial Officer? Asking the right questions can make all the difference. Have a look at these CFO interview questions that will help you make the right decision.
CFO Interview Questions
Chief Financial Officers are the heads of financial department of the company. They administer all the financial decisions as well as responsibilities. They provide direction for the company’s future financial health and are required to so critical forward-planning. CFO ensures that all the systems, processes and personnel are in place to deliver accurate financial information about the organization. An adroit CFO can help your organization grow faster and smarter. So, it becomes crucial to invest some quality time in screening the potential contenders.
Aspirants who have a strong understanding of the economics of a business and what actually makes it work will be ideal for this position.
Qualifications to look for:
- Masters degree in Business Administration, Economics, Accounting, or Finance.
- Acquainted with current financial and accounting computer applications.
Experience to look for:
- Minimum eight years experience in a senior role (preferable CPA)
Skills to look for:
- Excellent communications and organizational skills
- Cash management and financial accounting competence
- Analytic ability
- Problem Solving Abilities
- Leadership skills and strategic vision
Here is a list of CFO interview questions that you can use in determining the expertise and skills of the potential candidates.
Operational and Situational questions
- What are some key considerations when it comes to long-term budget planning and cost management??
- Describe the cash system of accounting.
- Explain the difference between capital, reserves, and surpluses.
- Define balanced capitalization and capital expenditure?
- Mention the two metrics that a CFO should always monitor.
- Was there a time when your ability to consider the costs of a potential action helped you choose the most appropriate action?
- What are some long-range objectives that you developed in your previous company? What did you do to achieve them?
- Can you give an example of your investment strategy when funding departments during the annual budget cycle?
- Share an experience in which you supervised employees performing complex financial reporting, billing, accounting, payroll, collections, and budgeting duties.
- What are the biggest challenges that financial professionals face in today’s market?
- Can you share any effective approach to working with a large amount of data?
- Recall a moment when you were able to identify, evaluate and implement a solution to a complex problem. How did the solution benefit your employer?
- Describe a time in which you successfully shared a difficult piece of information.