A Chief Financial Officer supports the operational and programmatic aspect of the company.

A Chief Financial Officer supports the operational and programmatic aspect of the company.  CFOs oversee the finance department and reports to the COO on matters relating to budget management and how the business can secure new funding streams.

Duties and responsibilities of a CFO

• The CFO must serve as a trainer to the finance department to raise awareness and increase knowledge of the all financial matters.
• The CFO works closely with the CEO to strategise and cultivate stakeholder relationships. Also, in this position you must have a knack for developing and negotiating contracts.
• Oversee all buying and salary payment to staff and suppliers.
• Find and investigate affordable fringe benefits that the company may offer existing and new employees.
• Oversee the management and coordination of all monetory reporting for the company – revenue, development, organising contracts, budgets etc.
• Ensure the business always has sufficient cash flow.
• Work closely with the COO to meet programmatic and operating budget needs. Interpret  legislative and programmatic rules and regulations to ensure compliance, ensure that all government regulations and requirements are published to the appropriate personnel.
• Oversee the production of monthly reports including reconciliations with funders and pension plan requirements, as well as financial statements and cash flow projections for use by Executive management, as well as the Audit/Finance Committee and Board of Directors.
• Assist in the design, implementation, and timely calculations of wage incentives, commissions, and salaries for the staff.
• Oversee Accounts Payable and Accounts Receivable and ensure a disaster recovery plan is in place.
• Oversee business insurance plans and health care coverage analysis.
• Oversee the maintenance of the inventory of all fixed assets, including assets purchased with government funds (computers, etc.) assuring all are in accordance with federal regulations.

• Starting salary R863K for 0 – 5 years of experience
• The average CFO will earn a salary of between R470k - R1,5 million, depending on the size of the organisation.
• CFOs based in Sandton will earn an average of 21% more than the national average of R 997k
• CEOs based in Durban will typically earn 16% less than the national average and in Pretoria, will earn 14% less.
• 77% of Males are CFOs

• A Chartered Accountant earns an average salary of R459k
• Financial Manager earns an average of R505k 
• CEO earns an average salary of R1.5million

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