The role of a chief financial officer (CFO) is critical to the success of any company. In this case, the CFO works hand in hand with the CEO in strategizing business goals and objectives. For the aircraft electronic manufacturer, they need an appropriate a CFO who can handle the Federal government contracts and other aircraft manufacturers. Therefore, some of the duties in the docket of the CFO include overseeing other employees, accounting for finances and conducting formal auditing. This implies that the seventy-five employees for the small company need a CFO.
Initially, the person should have a high level accounting skills especially being a certified public accountant. Concerning these skills, the person will be able to comply with the challenging regulatory environment of the accounting. Since the aircraft industry is one of the most regulated industries, the individual should guide it to achieve the desired goals especially with regard to finance. Therefore, these skills protect the company from exposure to legal financial breaches (Hill & McShane, 2008).
The CFO to be should exhibit leadership skills. These skills are vital, as the individual will be responsible for guiding teams and managing personnel in a critical industry of aircraft manufacturing. Through this process, the aircraft electronic company will realize its objectives in business.
Experience in the aircraft components industry is essential for the selected individual. In this case, the CFO will be knowledgeable of the strategies to adopt and challenges in the sector. Therefore, the company will be able to maneuver through the economic cycles that could affect the industry’s success while attaining its objectives (Morden, 2004).
Another crucial skill for the CFO is communication and presentation skills. In this regard, the CFO should be able to deal with complex situation and present them in precise and concise manner. Through this process, the CFO will guide the company with any financial decisions. In addition, the CFO should be involved in the aircraft industry to be able to benchmark for the company. The possession of all these skills by a CFO leads to the success of the company.