Updated June 25, 2024
6 min read
A chief finance and operating officer is a senior executive who manages an organization's financial actions, produces financial statements, and communicates results with stakeholders. They revise financial policies, strengthen internal controls, and accommodate rapid growth. They also establish cross-functional alliances to boost marketing and business development initiatives. They supervise various departments, from accounting to marketing, and develop financial reports for shareholders. This role often requires a master's degree in business and years of professional experience in the financial sector.
How long does it takes to become a chief finance and operating officer?
It typically takes 6-8 years to become a chief finance and operating officer:
- Years 1-4: Obtaining a Bachelor's degree in a relevant field, such as finance, accounting, or business administration.
- Years 5-8: Accumulating the necessary work experience in financial management, strategic planning, and operational efficiency.
ScoreChief Finance And Operating OfficerUS Average
Salary
9.3
Avg. Salary $166,139
Avg. Salary $59,228
Stability Level
7.8
Growth Rate 17%
Growth Rate 0.3%
Diversity
3.4
Race
American Indian and Alaska Native 0.34%
Asian 8.48%
Black or African American 8.06%
Hispanic or Latino 14.92%
Unknown 4.13%
White 64.07%
Gender
female 19.47%
male 80.53%
Age - 46
Race
American Indian and Alaska Native 3.00%
Asian 7.00%
Black or African American 14.00%
Hispanic or Latino 19.00%
White 57.00%
Gender
female 47.00%
male 53.00%
Age - 46
Stress Level
7.8
Stress level is high
7.1 - high
Complexity Level
9.2
Complexity Level is advanced
7 - challenging
Work Life Balance
4.6
Work Life balance is fair
6.4 - fair
Chief Finance And Operating Officer career paths
A chief finance and operating officer can progress to roles like chief operating officer, chief executive officer, or executive vice president. They can also move into positions like managing director, president/chief executive officer, or co-owner. Other possibilities include executive director, operations vice president, or board of directors member.
Key steps to become a chief finance and operating officer
Explore chief finance and operating officer education requirements
The educational requirements for a chief finance and operating officer are a bachelor's or master's degree in a relevant field such as accounting, business, finance, economics, or management. According to the data, 56% of chief finance and operating officers hold a bachelor's degree, while 36% have a master's degree. It is also common for these professionals to hold certifications such as Certified Management Accountant, Chartered Global Management Accountant, or Certified Professional - Human Resource. Some of the top schools for pursuing education in this field include the University of Pennsylvania, Northwestern University, and the University of Southern California.
Most common chief finance and operating officer degrees
Bachelor's
70.4
%
Master's
22.4
%
Associate
3.8
%
Start to develop specific chief finance and operating officer skills
A chief finance and operating officer is skilled in a variety of areas. They excel in financial reporting, managing monthly/quarterly/yearly reports for shareholders, banks, and investors. They also have expertise in implementing new ERP systems and consolidating disparate systems/spreadsheets into one coherent system. Additionally, they are adept at developing and executing new financial and marketing plans, resulting in increased net income.
Skills Percentages Financial Statements 21.38% Oversight 5.23% Human Resources 5.09% Payroll 4.41% Regulatory Compliance 4.20% Show more
Research chief finance and operating officer duties and responsibilities
A chief finance and operating officer's main responsibilities include financial management, operational strategy, and risk management. They implement new systems, prepare financial reports, and develop financial plans. They also manage regulatory and operational due diligence, ensure appropriate balance between production volume and customer demand, and develop new programs for employee benefits. They must also lead the development of internal policies and procedures to protect safe and sound business operations.
- Manage employees in GL, A/R, A/P, Credit/Collections, sales, warehousing, and shipping.
- Manage development and implementation of customize ERP system.
- Lead implementation of new worldwide consolidation system, Hyperion, significantly reducing closing time and improving controls over the consolidation process.
- Streamline risk management, convert banking relationship and convert payroll processing to a third party payroll processor.
Get chief finance and operating officer experience
Generally, it takes 6-8 years to become a chief finance and operating officer. The most common roles before becoming a chief finance and operating officer include chief finance officer, controller team lead and finance vice president.
Prepare your chief finance and operating officer resume
When your background is strong enough, you can start writing your chief finance and operating officer resume.
You can use Zippia's AI resume builder to make the resume writing process easier while also making sure that you include key information that hiring managers expect to see on a chief finance and operating officer resume. You'll find resume tips and examples of skills, responsibilities, and summaries, all provided by Zippi, your career sidekick.
Choose From 10+ Customizable Chief Finance And Operating Officer Resume templates
Build a professional
Chief Finance And Operating Officer
resume in minutes. Browse through our resume examples to identify the best way to word your resume.
Then choose from 10+ resume templates to create your Chief Finance And Operating Officer resume.Apply for chief finance and operating officer jobs
Now it's time to start searching for a chief finance and operating officer job. Consider the tips below for a successful job search:
- Browse job boards for relevant postings
- Consult your professional network
- Reach out to companies you're interested in working for directly
- Watch out for job scams
How Did You Land Your First Chief Finance And Operating Officer Job
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Average chief finance and operating officer salary
The average Chief Finance And Operating Officer salary in the United States is $166,139 per year or $80 per hour. Chief finance and operating officer salaries range between $87,000 and $314,000 per year.
Average
Chief Finance And Operating Officer
Salary
$166,139Yearly
$79.87
hourly
More chief finance and operating officer salary info
What Am I Worth?
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Chief Finance And Operating Officer reviews
A zippia user wrote a review on Jun 2022
Cons
I am responsible for everything be it any side of the business
A zippia user wrote a review on May 2020
Pros
I do not work as a finance Vice President but I would like to become one.
Cons
I don’t know because I have not worked as one.
A zippia user wrote a review on Jul 2019
Cons
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Updated June 25, 2024
Zippia Team
Editorial Staff
The Zippia Research Team has spent countless hours reviewing resumes, job postings, and government data to determine what goes into getting a job in each phase of life. Professional writers and data scientists comprise the Zippia Research Team.
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Updated June 25, 2024
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