How to Become a Chief Financial Officer (CFO): Australian Careers in Finance

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Master of Business Administration (MBA)

Gain the skills you need to succeed in the rapidly changing business environment with La Trobe University’s Master of Business Administration (MBA).

Learn from experienced academics and industry experts who’ll cover the emerging issues shaping modern business, such as digitisation, globalisation and responsible leadership. In La Trobe’s online MBA you’ll cover business analysis, accounting, finance and responsible leadership.

Graduate prepared for advanced management and consulting roles with a course structure accredited by the Association to Advance Collegiate Schools of Business (AACSB) and EPAS, from the European Foundation for Management Development (EFMD), plus is aligned to the UN’s Principles for Responsible Management Education (PRME).

So if you’re ready to take the next step in your career then start by enquiring with La Trobe today.

Online

Chief Financial Officer (CFO), General Manager, Management Consultant, Marketing Manager, Operations Manager, Product Manager

Price may vary

18 months

Master of Applied Finance

Financial systems are central to everything, with the Australian financial market growing 13.2% to $10.9 trillion during 2021* alone. Strong financial skills are an invaluable mechanism to drive change and create success. The professionals who have upskilled will thrive.

With the 100% online Master of Applied Finance from UNSW Online, you will accrue a wealth of financial knowledge and real-world applications. Your studies will also be tailored to suit your career path – and can help build a strong foundation to pursue the Chartered Financial Analyst (CFA) designation.

Whether you’re looking to upskill and advance your career, or make a change by entering the finance industry, the Master of Applied Finance will provide the skills and experience you need.

The UNSW Online Master of Applied Finance is designed to ensure you can confidently apply, manage, and lead financial functions at all business levels – both in Australia and around the world – and be an asset to any forward-thinking financial organisation.

It offers eight core courses and four electives. Select from key areas including analytics, financial technology and business management – and learn how financial knowledge areas such as international finance can be applied in any business to achieve success. You can also select a study pathway that is closely aligned with the Chartered Financial Analyst (CFA) curriculum, giving you a strong grounding to pursue the CFA designation. Whatever your interests, this program delivers access to the latest thinking and current research in finance.

There is also the option to study the Graduate Certificate in Finance or the Graduate Diploma in Applied Finance, which combined create the master’s program.

*Roy Morgan Banking & Finance Currency Report, 2021

Online

Chief Financial Officer (CFO), Director of Finance, Finance Officer, Financial Analyst, Investment Advisor

Price may vary

Accelerated, 2 years

Graduate Diploma in Applied Finance

The online Graduate Diploma in Applied Finance at UNSW is designed for professionals who want to build on fundamental financial knowledge to tailor their learning through relevant courses and real-world applications.

This course will enable you to apply, manage and lead financial functions with confidence. These skills can be applied at all business levels, and make you stand out in today’s world of finance.

Whether you’re looking to upskill and advance your career, make a change by entering the finance industry, or build a strong foundation to pursue the Chartered Financial Analyst (CFA) designation, you can accrue a wealth of financial knowledge and real-world applications through this postgraduate course from one of Australia’s most respected universities.

Online

Chief Financial Officer (CFO), Director of Finance, Finance Manager, Financial Advisor, Financial Analyst, Financial Planner, Hedge Fund Manager, Private Banker

Price may vary

Accelerated; complete in as little as 16 months

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What is a Chief Financial Officer (CFO)?

What will I do?

What skills do I need?

Resources

What is a Chief Financial Officer (CFO)?

The role of a Chief Financial Officer (CFO) is pivotal in any organisation, serving as the financial steward and strategic partner to the executive team. A CFO is responsible for overseeing the financial operations of a company, ensuring that financial strategies align with the overall business goals. This position requires a blend of analytical skills, leadership, and a deep understanding of financial regulations and market trends. As a key member of the executive team, the CFO plays a crucial role in shaping the financial future of the organisation.

In their day-to-day responsibilities, CFOs manage a variety of tasks that include financial planning, risk management, record-keeping, and financial reporting. They are tasked with developing budgets, forecasting future financial performance, and ensuring compliance with financial regulations. Additionally, CFOs often lead the finance and accounting departments, guiding teams to ensure that financial data is accurate and timely. This leadership role also involves collaborating with other departments to support strategic initiatives and drive business growth.

Moreover, a CFO must possess strong communication skills, as they frequently present financial insights and strategies to the board of directors and other stakeholders. They are responsible for translating complex financial information into actionable insights that can influence decision-making at all levels of the organisation. This aspect of the role not only requires financial acumen but also the ability to build relationships and foster collaboration across various teams.

Overall, a career as a Chief Financial Officer is both challenging and rewarding. It offers the opportunity to make a significant impact on an organisation’s success while also providing a platform for professional growth and development. With the right combination of experience, education, and leadership skills, aspiring CFOs can look forward to a fulfilling career that plays a vital role in shaping the financial landscape of their organisations.

Career snapshots For Chief Financial Officer (CFO)s

The role of a Chief Financial Officer (CFO) is pivotal in any organisation, overseeing financial operations and strategic planning. This position typically attracts individuals with extensive experience in finance and management, often requiring advanced degrees and professional certifications.

Average Age: Approximately 50 years
Gender Distribution: 55% male, 44% female
Average Hours per Week: 50-60 hours
Average Salary: AU$164,647 per year
Unemployment Rate: Low, with a strong demand for skilled professionals
Number of People Employed: Approximately 20,000 in Australia
Projected Growth: Expected to grow by 10% over the next five years

This data reflects the increasing importance of financial leadership in navigating complex business environments and the ongoing demand for experienced CFOs across various industries.

What will I do?

The role of a Chief Financial Officer (CFO) is pivotal in any organisation, as they are responsible for managing the financial health of the company. This includes overseeing financial planning, risk management, record-keeping, and financial reporting. A CFO plays a crucial role in strategic decision-making, ensuring that the organisation’s financial strategies align with its overall goals. Their expertise not only helps in maintaining compliance with financial regulations but also in driving the company towards sustainable growth and profitability.

Financial Planning – Developing and implementing financial strategies to support the company’s goals.
Budget Management – Overseeing the preparation and management of budgets to ensure financial efficiency.
Financial Reporting – Preparing accurate financial reports for stakeholders, including profit and loss statements, balance sheets, and cash flow statements.
Risk Management – Identifying financial risks and implementing strategies to mitigate them.
Compliance – Ensuring that the company adheres to financial regulations and standards.
Investment Oversight – Evaluating investment opportunities and managing the company’s investment portfolio.
Team Leadership – Leading and mentoring the finance team to enhance their skills and performance.
Stakeholder Communication – Communicating financial performance and strategies to stakeholders, including the board of directors and investors.
Cash Flow Management – Monitoring and managing the company’s cash flow to ensure liquidity.
Strategic Planning – Collaborating with other executives to develop long-term strategies for growth and sustainability.

What skills do I need?

A career as a Chief Financial Officer (CFO) demands a diverse set of skills that blend financial acumen with strategic leadership. A CFO must possess a strong foundation in financial reporting, analysis, and compliance, ensuring that the organisation adheres to all regulatory requirements while optimising financial performance. Proficiency in financial modelling and forecasting is essential, as these skills enable the CFO to make informed decisions that drive the company’s growth and sustainability. Additionally, a deep understanding of accounting principles and practices is crucial for overseeing the financial health of the organisation.

Beyond technical expertise, effective communication and interpersonal skills are vital for a CFO. This role often involves collaborating with other executives and stakeholders, requiring the ability to convey complex financial information in a clear and accessible manner. Strategic thinking and problem-solving skills are also important, as CFOs must navigate challenges and identify opportunities for improvement. Ultimately, a successful CFO combines analytical prowess with leadership capabilities, guiding their organisation towards financial success while fostering a culture of accountability and transparency.

Skills/attributes

Strong financial acumen and expertise in financial reporting
Advanced analytical and problem-solving skills
Leadership and team management abilities
Excellent communication and interpersonal skills
Strategic thinking and planning capabilities
Knowledge of regulatory compliance and risk management
Proficiency in financial modelling and forecasting
Experience with budgeting and cash flow management
Ability to make data-driven decisions
Understanding of corporate finance and investment strategies
Adaptability to changing market conditions
Strong ethical standards and integrity
Ability to collaborate with other executives and stakeholders
Experience in managing financial systems and technology
Commitment to continuous professional development

Resources

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How to Become a Chief Financial Officer (CFO): Australian Careers in Finance

What is a Chief Financial Officer (CFO)?

Career snapshots For Chief Financial Officer (CFO)s

What will I do?

What skills do I need?

Skills/attributes

Resources

Career Outcomes