Hello there, my name is Richard McMunn from the interview training company, PassMyInterview.com.
And in this presentation, I'm going to teach you how to pass a Chief Financial Officer
interview. So, if you have a CFO interview coming up with any organization whatsoever,
please make sure you stay tuned and watch this presentation from start to finish, because
it will make a significant difference to your preparation and your performance at the interview.
Now, to achieve that goal, this is what I am going to cover. I am going to give you
a list of CFO interview questions that I strongly advise you prepare for. I'm going to give
you strong, unique answers to tough Chief Financial Officer interview questions. I will
give you some important tips on how to stand out during your interview. And I will also
tell you about further resources, including these slides, you can get access to, to help
you succeed. There are four reasons why you should stay tuned. Now, just very quickly,
before we get started with the CFO interview training presentation, my name is Richard
McMunn. That is me there in the center of the screen. I am a former Fire Officer of
17 years, and since then I've been helping people to successfully pass their job interviews.
I always do that by giving you top-scoring answers you cannot find anywhere else. On
that basis, please make sure you SUBSCRIBE to the channel by clicking the red button
below the video. Then you won't miss out on any of the training videos I upload. You can
also connect with me on LinkedIn.com. I've put my LinkedIn link in the description below
the video. And please do give the video a LIKE - that tells me you enjoy the content
and I will create more for you. Thank you very much. The first question is going to
be either INTRODUCE YOURSELF or TELL ME ABOUT YOURSELF. This will be the first interview
question asked. And this is your opportunity to get off to a positive start. Within your
answer, make sure you talk about the skills, the qualities and the experience you have
and also how passionate you are about this position. It is important we show the interview
panel you can ADD SIGNIFICANT VALUE to their organization as their new CFO. So, here's
my suggested answer to this first CFO interview question. Tell me about yourself. “I am
a strategically driven CFO who has the vision and the foresight to ensure the organization
is financially lean, profitable and compliant. Over the years I have worked hard to build
up a diverse set of skills that enables me to deal with a wide range of situations, to
respond to financial problems and issues as and when they arise, and the ability to simplify
processes that are to the advantage of everyone within the organization. The level of responsibility
that comes with the position of Chief Financial Officer is something I take very seriously.
I have the knowledge, the commercial acumen, the strategic vision and the confidence to
help you achieve your goals. If you do hire me as your CFO, I believe you will see a significant
and long-lasting positive impact financially from the work I carry out, the standards I
set and the results-orientated mindset I utilize in all work and projects I am responsible
for.” That's a very positive answer to that first CFO interview question. Tell me about
yourself. And it sets you up with confidence for the remainder of your interview. You can
either pause the video if you want to and take note of the questions and answers as
we progressed together, or if you want to wait, I will tell you where you can download
my full set of 23 Chief Financial Officer Interview Questions and Top-Scoring Answers,
including the ones we are working through together today. The next question. Describe
how your previous experience has prepared you for this role? Having experience in a
wide variety of financial related situations will significantly increase your chances of
success at your CFO interview. My advice is to write down a list of challenging situations
you've been in where your actions have helped an organization to improve its performance
financially. Here's my suggested answer to that question: Describe how your previous
experience has prepared you for this role? “I have many years’ experience within
different sized organizations, each with differing goals and objectives. This experience has
enabled me to develop a flexible and adaptable approach towards an organization’s financial
responsibilities and objectives. For example, I have experience in assisting with strategic
decisions based around policy where changes are needed to ensure compliance. I have extensive
experience of creating company policy and ensuring it is disseminated throughout the
organization and I have experience of identifying financial risks and the opportunities that
are present within the sector. I also have experience of simplifying processes to help
an organization meet its financial and commercial goals quicker. Finally, I have experience
of working alongside other senior organizational officers, and I fully understand how important
it is to work collaboratively and flexibly with my senior colleagues to achieve the company
goals and aspirations.” That's another really strong answer that you can use during your
CFO interview. Now, don't go anywhere because I still have many more questions and answers
to work through with you, but when you're ready, if want to CLICK THAT LINK in the top
right-hand corner of the video, it goes through to my website, PassMyInterview.com, and you
can download my full set of 23 CFO Interview Questions and Top Scoring Answers, including
the ones we are working through together today. The next question: Why do you want to work
for our organization as the Chief Financial Officer? Now, you and I know that CFO positions
rarely become available in large organizations. Therefore, we must show the interview panel
we have good reasons for wanting to work for them in the position of CFO, and it's not
simply the job that we are interested in. We have to show that we have been attracted
to their organization and we can ADD VALUE through the work we undertake. Here is my
suggested answer to the question, why do you want to work for our organization as the Chief
Financial Officer? “Prior to applying for this CFO position, I researched your organization
carefully, I researched the sector and I assessed the opportunities that are present where I
feel I can make a positive difference. My research told me you have a great history
of achievement; you set very high standards; you have an innovative approach to creating
products and services, and you have ambitious plans for the future. There are clearly lots
of opportunities within this sector and whilst there will be challenges along the way, the
future is bright, and I want to be a part of that journey helping you along the way
from a financial perspective. The skills and experience I have gained throughout my career,
I believe, are a strong match for your organizational values and your high standards." That's another
strong answer. We're making very good progress now during our preparation for your CFO interview.
And the next question I want you to prepare for is: Tell me a time when you solved a financial
or accounting related problem within an organization? This situational-type CFO interview question
is assessing your ability to solve financial specific problems within an organization.
Here's a strong answer to assist you. “A few years ago, I started working for a large
organization as their Chief Financial Officer. They needed my experience because there were
issues from a budgeting and accounting perspective and significant changes needed to be made
quickly. I started out assessing the current financial position the organization was in,
the staff who were in place, the responsibilities they all had, and the problems present that
were causing the business issues. After quickly identifying the cause of the problems, I put
a plan in place to turn things around quickly. I changed policy, I recruited two new members
of staff and I put restrictions in place to ensure the buying and ordering processes were
more controlled. Then, by holding regular meetings with heads of departments I was able
to change the financial culture within the organization to one that was more responsible.
This eventually led to better working practices and procedures and an increase in profitability
for the organization.” You are giving a specific situation you've been in previously
that is relevant to that interview question. The next one: If we asked you to simplify
a financial process within our organization, how would you approach it? This is quite a
challenging CFO interview question to respond to, but it does feature often during interviews
at this level. Here's my example answer to assist you. The question again is: If we asked
you to simplify a financial process within our organization, how would you approach it?
“I would utilize a four-step process that I have used time and time again in previous
organizations. The first step is to INDENTIFY THE FINANCIAL STRATEGIC FOCUS. Where are we
right now, and where do we want to be. The second step is to DETERMINE THE DIRECTION
we are heading as an organization. This should ideally be focused on our customers and clients,
our approach to sales and customer service and our operations and fulfilment processes.
The third step is to DECIDE WHICH SERVICES WE KEEP IN-HOUSE, AND WHICH WE OUTSOURCE.
There is, in my opinion, a misconception that everything financial must be done internally,
when in fact an effective way to simplify things is to utilize the skills and expertise
of others through external partnerships and outsourcing. Finally, step four would be to
CREATE OUR FINANCIAL ROAD MAP which dictates how we are going to achieve our objectives.
The road map should include the transformation process, the timeline, the process for replacement
and change and the persons responsible for each specific element. Experience has told
me that, throughout any process of simplification and change it’s very important to identify
the risks involved but to also make sure you take advantage of any opportunities present
that the organization can benefit from financially.” That's a very in-depth answer that explains
the different steps and processes you would follow to simplify financial processes within
an organization. And you can use that sample response to build your own based on your own
experiences. The next thing to do is please do CLICK THAT LINK in the top right-hand corner
of the video. It goes through to my website, PassMyInterview.com. Take a look at my 23
CFO Interview Questions. And you also have the option to DOWNLOAD ALL OF THE ANSWERS,
including the ones I have worked for with you today. I hope you've enjoyed that. Please
don't forget to SUBSCRIBE. Please hit the LIKE button and connect with me on LinkedIn.com.
Thank you very much for watching and I wish you all the best for passing your CFO interview.
Have a brilliant day!