Day in the Life of an Executive With CFO Responsibilities

Day in the Life of an Executive With CFO ResponsibilitiesDay in the Life of an Executive With CFO ResponsibilitiesWhat does a day in the life of a chief financial officer look like at a midsize company? We followed one who was placed two years ago by Robert Half Finance Accounting at a midsize distributor-manufacturer in Raleigh, N.C. We got the inside scoop on this top executives CFO responsibilities and how he keeps the financial wheels turning.Early rise and shine Before the CFO responsibilities kick in, morning starts early, sometime between 5 and 530 a.m., depending on whether hes able to squeeze in a workout. Then comes a quick shave, shower and breakfast.By the time Im dressed, Ive already checked and replied to a handful of emails, the financial executive says. Before I go into the office, I like to clean up my email as well as I can. If youre actively managing emails or calls throughout the day, its easy to get caught up in that and not get all that you wanted to get done. 830 a.m. Less-than-a-mile commute Before relocating to North Carolina in 2014, he had an hour-and-a-half commute by bus to New York City. The hustle and bustle of the city meant being at the bus stop by 7 a.m. It was crowded, loud and bumpy, but he did it for more than four years.Now his commute is less than a mile, which helps with work-life balance. I still wake up around the same time, but its much more relaxing now.The CFO parks in his companys attached parking garage and takes the elevator up three floors.I can always count on the controller or CEO coming to binnensee me in the first half hour Im in the office - sometimes in the first 10 minutes, he said. They see it all, and it helps me to do my job, so touching base first thing is good for all of us.Projects leading up to lunchtimeBecause the company is owned by a private equity firm, he spends a dedicated amount of time each week preparing financials for a meeting every Friday. Hes also in charge of the month-end close, so depending on which calendar day it is, hes busy preparing monthly financials and doing bank reconciliations.The executive is also responsible for audits, finance contracts and running point on all activity involving human resources and information technology.But he does take time for lunch, choosing from a handful of lunch spots within a two-mile speiche of his office. On most days, you can find one or multiple team members at the same restaurant, sometimes together for geschftsleben meetings and sometimes separate.Afternoon Key initiatives Back in the office, new cubicles line the walls in preparation for anticipated new hires and growth. Last year, the company reached $58 million in revenue, and this year it is projected to earn $70 million.I remember when I first started, we were working out of a table at Panera Bread, and it was just us (he and the CEO), he said. We just hired a quality manager, so there are now 13 of us. Weve come a long way.Another major focus for the business is building its own packaging facility - the first in the companys history. Right now, the officers rely on outsourced production centers, which is a costly model that can often lead to delayed shipments or a compromise in process and procedure. Just last month, they had a machine breakdown at one of the centers they use, and last year they had another center lose its organic classification, which meant the loss and rerouting of their products.This is the business we bought, and our job is to transform it into a better model, the CFO said. So a big focus of mine is our new location. On my desk right now is a financing contract thats been red-lined by our lawyers. My job is to go back through and respond to the advice were being given.After 5 The last one to leave Though the New York City skyline is in the rearview of this financial executives career, he still likes the late nights at his North Carolina office. The work carries him into the early evening.Managing cash thats whats keeping the wheels going here, he said. Theres a lot on the borrowing and spending and managing receipts and disbursements. Its a balancing act with our cash flow.He catches up on the emails and voicemails he tries not to get tied up in during the day. Then its a two-minute drive up the road and around the corner to his home.He usually gets home around 7 p.m. - in time for dinner with his wife. After that, you can find him watching the latest Netflix series he just finished his favorite show, Mad Men. He plays some golf, although by his own admission not very well. And on the weekends he and his wife enjoy going out and exploring their new hometown.This CFO has done a lot since he earned his bachelors degree in 1986, followed by his masters of business administration. His CFO career path includes more than 20 years as a controller, finance manager and financial planning/reporting manager. The experience that fills his toolbox ranges from general accounting and cost accounting to bu dgeting and planning, management reporting, and IT application management.Whats one thing he misses about his big city job in New York? Well, its not much, but there is one thing Giants season tickets and tailgating before the games.And his role as chief financial officer? What does he like most about hisaccounting career choiceandhis life as a CFO?I like the diversity of the functions and tasks and the responsibilities, he says. You get to get your hands in a lot of different things, from the tax perspective to financial analysis, ledger review and analysis - a lot of different aspects. Subscribe to our newsletterWhen you subscribe to the Robert Half newsletter, youll get articles and resources to help you build a successful career in accounting and finance - all sent directly to your inbox. Click the button below to sign up todaySUBSCRIBE NOW