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How do you become a chief financial officer operations?

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Becoming a chief financial officer operations (CFOO) is a challenging but rewarding career path for finance professionals who want to combine strategic, operational, and financial leadership. A CFOO oversees the financial performance, planning, and reporting of an organization, as well as its day-to-day operations, such as IT, HR, procurement, and logistics. A CFOO also works closely with the CEO and other senior executives to align the business strategy with the financial goals and resources. How do you become a CFOO? Here are some steps to guide you.

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1 Build your finance skills

The first step to becoming a CFOO is to master the core finance skills, such as accounting, budgeting, forecasting, auditing, compliance, and risk management. You need to be able to analyze financial data, prepare financial statements, and communicate financial information to various stakeholders. You also need to be familiar with the relevant accounting standards, regulations, and best practices in your industry. To build your finance skills, you can pursue a degree in finance, accounting, or business administration, obtain relevant certifications, such as CPA, CFA, or CMA, and gain experience in finance roles, such as accountant, analyst, controller, or treasurer.

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Hassen Bootha Fazal MBA BCOMPT CIA CISA CFE Cert CII

Managing Director at HB Management Consultants
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Aspiring to become a chief financial officer (CFO) of operations demands a unique blend of financial expertise, operational mastery, and strategic leadership. Development of expertise on best practices in process optimization, cost reduction, and performance improvement within your specific industry is critical. Deep understanding of relevant business processes is normally key to success for operational CFOs.

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James Kim

Division Director - Accounting, Finance, & Financial Services Recruiting People Connector I Leadership & Strategy
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The initial stride towards becoming a CFOO involves the mastery of foundational financial competencies encompassing accounting, budgeting, forecasting, auditing, compliance, and risk management. Proficiency in financial data analysis, financial statement preparation, and effective communication of financial insights to diverse stakeholders is paramount. Furthermore, a deep understanding of pertinent accounting standards, industry-specific regulations, and best practices is essential.

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2 Expand your operational knowledge

The second step to becoming a CFOO is to expand your operational knowledge and understanding of how the business functions and delivers value. You need to be able to oversee and optimize the operational processes, systems, and resources that support the financial performance and strategy of the organization. You also need to be able to collaborate and coordinate with the operational leaders and teams, such as IT, HR, procurement, and logistics, and ensure that they are aligned with the financial goals and policies. To expand your operational knowledge, you can seek opportunities to work on cross-functional projects, take on additional responsibilities or roles in operational areas, and learn from operational experts and mentors.

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Yana Taranda

Operations Manager & Chief of Staff | Executive MBA | Nova Talent
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You can start by gaining experience in finance and operations roles within your organisation. For example, work as a Financial Analyst and then transition to roles like Operations Manager or Director of Operations. Develop a deep understanding of operational processes, supply chain management, and efficiency improvement. Showcase your ability to optimize operations while maintaining financial discipline. Pursue relevant certifications or courses in operations management. A CFO with strong operational knowledge can lead financial strategy with a holistic approach, contributing to the organisation's success.

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3 Develop your leadership skills

The third step to becoming a CFOO is to develop your leadership skills and abilities to influence, inspire, and motivate others. You need to be able to lead and manage a diverse and high-performing finance and operations team, as well as partner with the CEO and other senior executives to shape and execute the business strategy and vision. You also need to be able to communicate effectively and persuasively with internal and external stakeholders, such as board members, investors, customers, suppliers, regulators, and media. To develop your leadership skills, you can seek feedback, coaching, and mentoring from senior leaders, participate in leadership development programs, and take on leadership roles or initiatives in your organization or community.

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James Kim

Division Director - Accounting, Finance, & Financial Services Recruiting People Connector I Leadership & Strategy
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Many individuals aspiring to reach the role of a CFOO typically possess strong financial acumen. However, successfully overseeing operations demands a high level of emotional intelligence (EQ) in effectively managing people. In this context, it's important to recognize that your team constitutes the core of your operations. By nurturing and developing your team members, you ensure they, in turn, nurture and optimize your operations. Acknowledge that no one can master all the requisite skills alone; therefore, your role includes cultivating talent within your team, allowing them to become experts in specific skill sets.

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4 Network and build relationships

The fourth step to becoming a CFOO is to network and build relationships with people who can help you advance your career and broaden your perspective. You need to be able to leverage your network and connections to access opportunities, information, and resources that can enhance your skills, knowledge, and reputation. You also need to be able to build trust and rapport with people who can support, challenge, and recommend you for CFOO positions. To network and build relationships, you can attend industry events, join professional associations, reach out to former colleagues and classmates, and engage with recruiters and headhunters.

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James Kim

Division Director - Accounting, Finance, & Financial Services Recruiting People Connector I Leadership & Strategy
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Seek out mentors who have walked the path already. Just as importantly, be a mentor. This will teach you how to develop others when building a team. Industry Engagement: Attend industry-specific events, conferences, and seminars to connect with peers and industry leaders, fostering a robust professional network. Professional Associations: Become an active member of relevant professional associations, where you can engage with like-minded professionals and stay informed about industry trends. Reconnect Strategically: Reach out to former colleagues, classmates, and mentors, strategically nurturing relationships that can prove beneficial in your CFOO journey.

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5 Showcase your value and potential

The fifth step to becoming a CFOO is to showcase your value and potential to the organization and the market. You need to be able to demonstrate your achievements, impact, and contributions in finance and operations, as well as your readiness and suitability for the CFOO role. You also need to be able to articulate your vision, goals, and plans for the CFOO role, as well as your strengths, weaknesses, and areas of improvement. To showcase your value and potential, you can update your resume, portfolio, and online profile, seek endorsements and referrals from senior leaders and peers, and prepare for interviews and assessments.

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6 Keep learning and growing

The sixth step to becoming a CFOO is to keep learning and growing as a finance and operations leader. You need to be able to adapt to the changing business environment, challenges, and opportunities, as well as the evolving expectations and demands of the CFOO role. You also need to be able to continuously update and upgrade your skills, knowledge, and competencies, as well as seek feedback, coaching, and mentoring to improve your performance and effectiveness. To keep learning and growing, you can read books, articles, and blogs, listen to podcasts and webinars, enroll in courses and programs, and join peer groups and communities.

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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How do you become a chief financial officer operations?

1

2

3

4

5

6

7

1 Build your finance skills

2 Expand your operational knowledge

3 Develop your leadership skills

4 Network and build relationships

5 Showcase your value and potential

6 Keep learning and growing

7 Here’s what else to consider

Executive Management

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How do you become a chief financial officer operations?

1

2

3

4

5

6

7

1 Build your finance skills

2 Expand your operational knowledge

3 Develop your leadership skills

4 Network and build relationships

5 Showcase your value and potential

6 Keep learning and growing

7 Here’s what else to consider

Executive Management

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