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CFO Interview Questions and Answers! (How to PASS a Chief Financial Officer Interview!) - YouTube
Channel: CareerVidz
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hello there my name is richard mcmunn
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from the interview training company
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passmyinterview.com
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and in this presentation i'm going to
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teach you how to pass a chief
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financial officer interview so if you
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have a cfo
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interview coming up with any
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organization whatsoever
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please make sure you stay tuned and
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watch this presentation from start to
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finish
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because it will make a significant
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difference to your preparation
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and your performance at the interview
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now to achieve that goal this is what
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i'm going to cover
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i'm going to give you a list of cfo
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interview questions that i strongly
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advise you prepare for i'm going to give
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you strong
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unique answers to tough chief financial
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officer interview questions
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i will give you some important tips on
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how to stand out
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during your interview and i will also
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tell you about further resources
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including these slides
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you can get access to to help you
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succeed so there's four reasons
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why you should stay tuned now just very
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quickly
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before we get started with the cfo
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interview training presentation
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my name is richard mcmahon that is me
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there in the center
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of the screen i am a former fire officer
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of 17 years and since then i've been
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helping people
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to successfully pass their job
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interviews and i always do that by
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giving you
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top scoring answers you cannot find
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anywhere else on that basis
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please make sure you subscribe to the
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channel by clicking the red button below
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the video
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then you won't miss out on any of the
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training videos i upload
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you can also connect with me on linkedin
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i've put my linkedin link in
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the description below the video and
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please do give the video a like
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that tells me you enjoy the content and
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i will create
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more for you thank you very much so the
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first question
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is going to be either introduce yourself
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or tell me about yourself so this will
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be
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the first interview question asked and
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this is your opportunity
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to get off to a positive start within
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your answer
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make sure you talk about the skills the
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qualities
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and the experience you have and also how
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passionate you are
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about this position it is important we
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show the interview panel
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you can add significant value to their
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organization
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as their new cfo so here's my suggested
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answer to this first
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cfo interview question tell me about
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yourself
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i am a strategically driven cfo who has
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the vision
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and the foresight to ensure the
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organization is financially lean
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profitable and compliant now over the
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years i've worked hard to build up a
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diverse set of skills
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that enables me to deal with a wide
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range of situations
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to respond to financial problems and
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issues as and when they arise
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and the ability to simplify processes
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that are to the advantage of
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everyone within the organization the
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level of responsibility that comes with
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the position
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of chief financial officer is something
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i take very seriously
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i have the knowledge the commercial
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acumen the strategic vision and the
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confidence
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to help you achieve your goals if you do
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hire me
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as your cfo i believe you will see a
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significant and long lasting positive
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impact financially
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from the work i carry out the standards
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i set and the results
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orientated mindset i utilize in all work
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and projects
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i am responsible for so that's a very
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positive answer
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to that first cfo interview question
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tell me about yourself
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and it sets you up with confidence for
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the remainder of your interview
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now you can either pause the video if
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you want to and take a note of the
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questions
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and answers as we progress together or
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if you want to wait i will tell you
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where you can download my full set
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of 23 chief financial officer interview
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questions and top scoring answers
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including the ones we are working
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through together today
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the next question describe how your
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pretty previous experience
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has prepared you for this role now
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having experience in a wide variety of
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financial related situations
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will significantly increase your chances
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of success
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at your cfo interview my advice is to
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write down a list of challenging
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situations you've been in
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where your actions have helped an
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organization to
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improve its performance financially so
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here's my suggested answer to that
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question
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describe how your previous experience
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has prepared you for this role
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i have many years experience within
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different sized
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organizations each with differing goals
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and objectives
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this experience has enabled me to
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develop a flexible
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and adaptable approach towards an
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organization's financial
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responsibilities
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and objectives for example i have
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experience in assisting
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with strategic decisions based around
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policy where changes are needed to
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ensure compliance
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i have extensive experience of creating
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company policy and ensuring it is
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disseminated throughout the organization
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and i have experience of identifying
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financial risks and the opportunities
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that are present
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within the sector i also have experience
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of simplifying processes
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to help an organization meet its
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financial and commercial goals quicker
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finally i have experience of working
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alongside other senior organizational
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officers
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and i fully understand how important it
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is to work collaboratively
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and flexibly with my senior colleagues
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to achieve the company goals
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and aspirations so that's another really
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strong answer that you can use
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during your cfo interview now don't go
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anywhere
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because i still have many more questions
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and answers to work through with you
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but when you're ready if you want to
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click that link in the top right hand
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corner of the video
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it goes through to my website
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pastmyinterview.com and you can download
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my full set
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of 23 cfo interview questions and top
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scoring answers
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including the ones we are working
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through together today the next question
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why do you want to work for our
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organization as the chief
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financial officer now you and i know
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that cfo positions rarely become
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available
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in large organizations therefore we must
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show the interview panel
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we have good reasons for wanting to work
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for them
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in the position of cfo and it's not
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simply the job that we are interested in
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we have to show
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that we have been attracted to their
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organization and we can add value
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through the work we undertake so here is
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my suggested answer
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to the question why do you want to work
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for our organization as the chief
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financial officer prior to applying for
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this cfo position
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i researched your organization carefully
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i researched
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the sector and assessed the
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opportunities that are present
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where i feel i can make a positive
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difference my research
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told me you have a great history of
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achievement you set very
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high standards you have an innovative
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approach to creating products and
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services
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and you have ambitious plans for the
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future there are clearly
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lots of opportunities within this sector
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and whilst there will be challenges
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along the way
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the future is bright and i want to be a
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part of that journey helping you along
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the way
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from a financial perspective the skills
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and experience i have gained throughout
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my career i believe
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are a strong match for your
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organizational values and your high
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standards so that's another
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stronger answer so we're making very
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good progress now
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during our preparation for your cfo
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interview and the next question i want
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you to prepare for
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is tell me a time when you solved a
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financial or accounting related problem
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within an organization so this
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situational type cfo interview question
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is assessing your ability to solve
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financial specific problems
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within an organization here's a strong
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answer
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to assist you a few years ago i started
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working for a large organization
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as their chief financial officer they
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needed my experience because there were
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issues from a budgeting
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and accounting perspective and
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significant changes
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needed to be made quickly i started out
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assessing the current
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financial position the organization was
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in the staff who were in place the
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responsibilities they all had
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and the problems present that were
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causing the business issues
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after quickly identifying the cause of
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the problems i put a plan in place to
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turn things around
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quickly i changed policy i recruited two
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new members of staff
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and i put restrictions in place to
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ensure the buying and ordering processes
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were more controlled then by holding
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regular meetings with heads of
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departments
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i was able to change the financial
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culture within the organization
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to one that was more responsible this
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eventually led to a better working
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practice and procedures
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and an increase in profitability for the
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organization
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so you are giving a specific situation
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you've been in previously
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that is relevant to that interview
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question
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the next one if we asked you to simplify
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a financial process within
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our organization how would you approach
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it so this is quite a challenging
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cfo interview question to respond to but
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it does feature often
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during interviews at this level here's
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my example answer
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to assist you so the question again is
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if we asked you to simplify
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a financial process within our
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organization how would you approach it
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i would utilize a four-step process that
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i've used time and time again in
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previous organizations
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the first step is to identify the
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financial strategic
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focus where are we right now and where
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do we want to be
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the second step is to determine the
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direction we are heading as an
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organization
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now this should ideally be focused on
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our customers and clients
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our approach to sales and customer
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service and our operations and
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fulfillment processes
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the third step is to decide which
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services we keep in-house
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and which we outsource there is in my
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opinion a misconception that everything
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financial
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must be done internally when in fact an
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effective way to simplify things
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is to utilize the skills and expertise
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of others through
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external partnerships and outsourcing
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finally step four would be to create our
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financial roadmap
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which dictates how we are going to
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achieve our objectives now the roadmap
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should include
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the transformation process the timeline
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the process for replacement and change
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and the person is responsible for each
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specific element
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experience has told me that throughout
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any process of simplification
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and change it's very important to
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identify the risks involved
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but to also make sure you take advantage
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of any opportunities present
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that the organization can benefit from
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financially so that's a very in-depth
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answer that explains the difference
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steps and processes you would follow
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to simplify financial processes within
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an organization and you can use that as
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a sample response
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to build your own based on your own
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experiences
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so the next thing to do is please do
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click that link in the top right hand
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corner
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of the video it goes through to my
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website pastmyinterview.com
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take a look at my 23 cfo interview
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questions and you
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also have the option to download all of
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the answers including the ones
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i have worked through with you today i
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hope you've enjoyed that please don't
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forget to subscribe
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please hit the like button and connect
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with me on linkedin thank you very much
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for watching
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and i wish you all the best for passing
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your cfo interview
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have a brilliant day
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