Focus on the job of Administrative and Financial Director

Holding a major position within the company, the Chief Financial Officer (CFO) occupies much more than just an accounting role. He or she is responsible for overseeing the strategy for putting financial resources in place to support decision-making. How do you become an administrative and financial director? IPAG, a business school, offers a comprehensive training programme to give you all the skills you need to excel in this profession.

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What is an Administrative and Financial Director and what is their role?

Whether in an SME or a large company, the CFO plays an essential and central role. He or she coordinates relations between the various sectors of a company to help with strategic decision-making.

The CFO is therefore responsible for several areas

• Financial: managing the company's cash flow, budgets and balance sheets. To do this, they use a wide range of skills and management control tools.
• Human resources: the CFO also assists the human resources department in adjusting human resources requirements in line with the company's objectives.
• Legal: the CFO is also responsible for monitoring compliance with regulations. This means keeping abreast of practices and changes in the law, tax returns, accounting and ongoing litigation.

What are the duties of an Administrative and Financial Director?

The duties of an administrative and financial director are very varied, since, as we have seen, the post covers several areas of activity.

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In terms of finance, the CFO monitors business activity through regular reporting. He also manages the accounts in line with objectives. He or she is also responsible for management control and may suggest new ways of improving the company's financial performance.

In terms of human resources, the CFO must supervise personnel administration (leave, pay, contracts) and the application of the Labour Code and collective bargaining agreements. The CFO is also responsible for relations with financial partners.

Finally, the CFO must also guarantee the legality of contracts and financial documents, checking that each action corresponds to the legal framework and legal contracts negotiated with the various partners (distributors, service providers, etc.).

What skills and qualities are required to be a CFO?

As you can see, the CFO profession requires a wide and varied range of skills.

In terms of professional skills, the CFO should ideally :

• perfect command of financial, accounting and tax techniques
• accounting and tax techniques
• use management tools;
• have the necessary management and decision-making skills;

The CFO must also demonstrate essential personal skills:

• good negotiation, communication and interpersonal skills ;
• a good command of the English language
• impeccable organisational skills ;
• intellectual curiosity and analytical skills.

What courses are available to become an Administrative and Financial Director?

The typical academic career path for an administrative and financial director often involves a minimum of 5 years' higher education, but the most sought-after career paths are still business school courses.

If you want to go down this route, you should go for higher degrees in economics, accounting, management, control and auditing or finance. You can also specialise in one of the various options available: financial engineering, taxation, control and auditing, etc.

In addition, five years' experience is preferable before taking up this type of position. IPAG offers you highly advanced training to become a CFO. From the moment you start your studies, you can benefit from solid initial professional experience through work-study programmes or internships, depending on your course of study, before you enter the job market.

Training in corporate finance :

• The Corporate Finance & Auditing specialisation prepares you for financial management, auditing and management control.
• The Finance & Markets specialisation, on the other hand, trains you in financial risk assessment, which is closely linked to corporate finance. This course also teaches you how to manage securities transactions and share issue rates.
• The MBA opens the door to a specialisation in finance with an internationally recognised degree.

What is the average salary of a CFO?

The average salary for a CFO is around €65 000 gross per year, but depending on experience and sector of activity, it can rise to between €70 000 and €150 000 gross per year.

The size of the company, its geographical location and the quality of the training received are among the criteria that determine the salary that a CFO can expect to receive.

The Grande École programme is an excellent way of negotiating a higher salary when you enter the job market.

What career prospects are there for an Administrative and Financial Director?

Although the position of Chief Financial Officer is already one of great responsibility, it is still possible to move up the career ladder. Generally speaking, CFOs can progress to the position of Managing Director after several years' experience and loyalty within the same company.

CFOs may also choose to move to a larger company to take on more responsibility and develop their careers.

The job of Administrative and Financial Director is a keystone for companies. This finance professional must be able to draw on a wealth of knowledge and technical skills to carry out tasks that are crucial to corporate decision-making. It is therefore all the more vital for this corporate finance expert to get the right training during their higher education. IPAG, our business school, will be happy to provide you with more information on the courses available and tell you about other careers in corporate finance.