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Controller to CFO

I've been a Controller for over 10 years and am hoping to make the jump to CFO. My boss is open to it, but wants justification. What's your advice on making the transition? What are the added responsibilities? What do you see as the primary differences? I imagine if this promotion happens, I would hire another Controller or Assistant Controller to backfill. I don't want the promotion just to have it, I want to know that I'd be adding more value to the organization.

Answers

Anonymous
(Audit) |

CFO better positioned for any high level potential transactions. You'd get visibility at a fundraising, M&A, banking level you might not have as a controller. CFO has infrastructure, legal and HR compliance, and as an officer fiduciary responsibility. CFO title also narrows the number of available next jobs, if that's a concern. Many more controller and VP finance than CFO jobs I think.

Chet Anderson
Title: Consultant
Company: Sanborn Associates
(Consultant, Sanborn Associates) |

All that is correct. You can be a star at being a Controller, but if you can't talk to investors, bankers, important customers you will fail at being CFO.

And it can limit future advancement. I've found I've needed to revise my resume to be considered for higher positions.

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