CFO Onboarding Checklist

CFO Onboarding Process

Are you looking for help setting up a staff orientation process so that when your new CFO starts their role, they can learn about their responsibilities and your company as quickly as possible? Whether you’re keen to use buddy onboarding, want to automate your Finance onboarding experience or just need an onboarding checklist for your new CFO, you’re in the right place. We’ve put together a sample CFO onboarding checklist below and have created onboarding templates & resources to help.

CFO Onboarding Checklist

1. Introduction to the company: The CFO should be introduced to the company’s mission, vision, values, and organizational structure. This task is typically performed by the CEO or a senior executive.

2. Familiarization with financial systems and processes: The CFO needs to understand the company’s financial systems, including accounting software, budgeting tools, and reporting processes. The finance team or the head of finance would typically provide this training.

3. Review of financial policies and procedures: The CFO should be familiarized with the company’s financial policies and procedures, such as expense reimbursement, procurement, and financial controls. The finance team or the head of finance would typically provide this information.

4. Understanding the company’s financial goals and objectives: The CFO should be briefed on the company’s financial goals and objectives, including revenue targets, profitability targets, and cash flow management. This task is typically performed by the CEO or a senior executive.

5. Meeting key stakeholders: The CFO should meet with key stakeholders, such as the board of directors, investors, auditors, and other senior executives. These meetings help establish relationships and provide an understanding of the expectations from the finance function. The CEO or a senior executive would typically facilitate these meetings.

6. Review of financial reports and analysis: The CFO should review the company’s financial reports, including balance sheets, income statements, and cash flow statements. This task helps the CFO gain insights into the company’s financial performance and identify areas for improvement. The finance team or the head of finance would typically provide these reports.

7. Budgeting and forecasting: The CFO should participate in the budgeting and forecasting process, working closely with the finance team to develop accurate financial projections. This task helps the CFO understand the company’s financial planning process and align it with the overall business strategy. The finance team or the head of finance would typically lead this process.

8. Risk management and compliance: The CFO should be briefed on the company’s risk management and compliance practices, including regulatory requirements, internal controls, and financial audits. This task helps the CFO ensure that the company operates within legal and ethical boundaries. The finance team or the head of finance would typically provide this information.

9. Team management and development: The CFO should meet with the finance team to understand their roles, responsibilities, and skill sets. This task helps the CFO assess the team’s capabilities and identify any training or development needs. The head of finance or the CFO would typically lead this task.

10. Integration with other departments: The CFO should collaborate with other departments, such as sales, operations, and human resources, to understand their financial needs and align financial strategies accordingly. This task helps the CFO build cross-functional relationships and ensure financial support for various business functions. The CFO would typically initiate this collaboration.

11. Review of contracts and agreements: The CFO should review key contracts and agreements, such as vendor contracts, client agreements, and financing arrangements. This task helps the CFO understand the financial implications of these contracts and ensure compliance with financial terms. The legal team or the head of finance would typically provide support for this task.

12. Development of financial reporting frameworks: The CFO should work with the finance team to develop financial reporting frameworks that provide accurate and timely information to stakeholders. This task helps the CFO establish standardized reporting practices and improve transparency. The finance team or the head of finance would typically lead this task.

13. Evaluation of financial technology solutions: The CFO should evaluate and recommend financial technology solutions that can streamline financial processes, enhance data analysis capabilities, and improve overall efficiency. This task helps the CFO leverage technology to drive financial performance. The CFO would typically lead this evaluation process.

14. Communication with investors and analysts: The CFO should participate in investor meetings, conference calls, and analyst briefings to communicate the company’s financial performance and strategy. This task helps the CFO build investor confidence and maintain positive relationships with the financial community. The CFO would typically lead these communication efforts.

15. Continuous professional development: The CFO should engage in continuous professional development activities, such as attending industry conferences, participating in relevant training programs, and staying updated on financial regulations and best practices. This task helps the CFO stay current with industry trends and enhance their financial expertise. The CFO would typically take the initiative for their professional development

Setting Up Your Employee Onboarding Process

From reading through the items in the example CFO checklist above, you’ll now have an idea of how you can apply best practices to getting your new CFO up to speed and working well in your Finance team. Scroll up to see the link to our onboarding templates & resources or get in touch to discuss getting help setting up your systems and processes in this area.