A chief financial officer (CFO) is the senior executive responsible for managing the financial actions and strategies of a company.
The primary responsibility of the Chief Financial Officer is managing the company’s finances, including financial planning, management of financial risks, record-keeping, and financial reporting.
At a startup the role of CFO can go well beyond managing the companies finances. The CFO must layout the growth path of the company, create core financial processes and establish company-wide KPIs to create accountability.
The controller focuses on compliance and historical financial results, while the CFO focuses on strategy, planning and implementing a growth plan.
The CFO oversees the operations of the business, makes sure the company and departments are staying withing budget, continuously forecasts based on actual financial data and monitors cash flow.