Chief Financial Officer: Facts, Skills, and Next Paths

A Chief Financial Officer (CFO) oversees an organization’s financial operations, including accounting, budgeting, forecasting, financial reporting, and internal controls. Day-to-day work involves reviewing financial statements, managing cash flow, evaluating investment opportunities, and ensuring compliance with regulatory requirements. The CFO also leads the finance team, sets financial strategy, and advises executive leadership on resource allocation and risk.

The CFO serves as the senior financial executive, often reporting directly to the CEO or agency head. For example, at the Drug Enforcement Administration, the CFO is responsible for improving systems of accounting, financial management, and internal controls to deter fraud and waste. At the Maryland Department of Housing and Community Development, the CFO oversees more than $6 billion in bond, mortgage, and investment portfolios, and leads capital planning, forecasting, and risk management for multi-billion-dollar housing and community development programs.

The median salary for a CFO is approximately $188,500 per year. The most requested skills in current job postings are Forecasting (50%), Analytics & Reporting (50%), Compliance (40%), and Risk Management (40%).