There are many instances when a heavy discussion has taken place inside the board room on the topic whether there is a need for a chief finance officer to be posted in the company. The answer to this discussion lies in the company policies and the level of finances that are handled by it. Another angle to look at it is the qualifications and the capabilities of the CFO. If he has the capabilities, they can really turn the tide of the events. Some of key traits that a CFO should possess are as follows:

Professional and Honest: Any designation should be adorned by some who is dedicated to his work and can support the company in a professional and a honest way. This becomes even more important if the post is of a top level executive who will have all the finances at his disposal. A person who is ethical and dedicated towards his work would be very effective for the company.

Visionary: A puppet that needs to be directed every time is of no use. If a change has to be brought about, the CFO needs to be a visionary who works with an aim in mind. He should have unique methods to increase the turnover and also a plan to use the finances judiciously. A Chief Financial Officer can dispense money into different sections of the company in a manner that is mutually beneficial for the firm. Various short term and long term plans are the main motive.

Flexible: Flexibility is the need of the hour. With the change in the market forces due to increasing competition, anything and everything can happen at any time. This can lead to sudden changes in the situation changing the priorities. A good CFO should be able to adapt to these changes and make strategies in such a way that the diversion merges with the long term plan later. A rigid form of administration has never been successful.

Effective Manager: Not only does the money need to be managed but also the people who work in the company. There is a lot of diplomacy that needs to be practiced at all times. The subordinates need to be kept motivated and always directed towards working with enthusiasm. He should have good relationship making capabilities and also very persuasive. Delegating work should never be a problem and everyone should be made to feel responsible towards their work. All the traits of an effective manger should in present.

Experienced: Chief Financial Officer's post is not one which can be given to anyone with knowledge of accounts. It is a position reserved for people with experience who have seen the market conditions and can sustain the intense pressure. The experience is also helpful towards providing with faster decision making capabilities which is very essential for the firm.

There are other qualities that can be present in a CFO but if there is an applicant who has the abovementioned requirements, he should sure be considered for the job as they can really work marvels.