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If you’re a CEO (Chief Executive Officer), you know staying in tune with your company’s financial performance is essential. A significant aspect of doing that is communicating effectively with your CFO (Chief Financial Officer). A quarterly CFO check-in structure can give you the clarity you need to make confident decisions, align with your goals, and avoid costly surprises. This guide breaks down how to structure quarterly meetings and measure CFO performance, ensuring your company stays productive, you remain insightful, and all parties make the most of their time.
Why Quarterly CFO Check-Ins Are Critical
A quarterly CFO check-in structure gives CEOs a consistent pulse on financial health without micromanaging. These meetings are a chance to:
- Review key financial metrics and trends.
- Discuss budget vs. actual performance.
- Plan for upcoming expenses or investments.
- Adjust forecasts based on current data.
- Identify and mitigate financial risks early.
They also help align leadership teams by making sure everyone understands the numbers behind strategic decisions.
Preparing for the Meeting: What CEOs and CFOs Need To Do
A productive CFO performance review starts with preparation on both sides. Chief executive officers should come to the table with clear goals and questions, while chief financial officers should provide the data and context needed to support those discussions.
What the CFO Should Prepare
- Financial statements from the previous quarter, including P&L, balance sheet, and cash flow.
- KPI dashboards tailored to your business goals.
- Variance reports comparing actual vs. budgeted results.
- Updated forecasts and projections.
- Open issues related to accounting, compliance, or cash flow.
What the CEO Should Prepare
- Strategic updates that might affect financials (new hires, big deals, product changes).
- Key questions about margins, burn rate, or runway.
- Priorities or changes in business direction that necessitate adjustments to forecasts.
You should be keenly aware of the specific role your chief financial officer plays and what type of specialty they provide for your company. For instance, if you have a part-time CFO or are using outsourced CFO services, your meeting might take on a different approach.
Additionally, be sure to review and share the meeting agenda a few days ahead. This ensures the conversation stays focused and no one’s caught off guard.
Structuring the Agenda for Maximum Clarity
Use a structured format to maximize your CFO’s time and your own. This is where a solid CFO performance evaluation template comes in handy, and here are some ideas to help you nail down a solid strategy for your next quarterly meeting:
Review of Key Financials
Begin by reviewing the basics: revenue, profit margins, cash flow, and operating expenses. This part should be concise but thorough. Compare the numbers to those of last quarter and the budget.
Performance vs. Forecast
When discussing CFO performance measures, consider variances and their underlying causes. Are you over budget in any departments? Did revenue fall short or exceed expectations? Understanding the “why” behind the numbers helps you improve future planning.
Forecasting and Runway
Look ahead. How much runway do you have based on current spending and income? Is your forecast still realistic, or does it need to be revised? Ensure this includes both best-case and worst-case scenarios.
Strategic Financial Planning
This section connects the financials to your goals. Talk about big decisions on the horizon (new hires, expansions, capital raises, or acquisitions) and how they’ll impact cash and performance.
Risks and Compliance Issues
Your CFO should flag any concerns around cash flow, tax liabilities, regulatory changes, or accounting issues. This is also the time to review audit readiness if applicable.
Takeaways and Next Steps
Conclude the meeting by recapping the decisions, assigning action items, and agreeing on follow-up tasks. Clear documentation avoids confusion later.
Questions Every CEO Should Ask During the Check-In
- What’s our current cash runway?
- Are we hitting our margin goals?
- Where are we over or under budget? Why?
- Are there any red flags in the financials?
- What assumptions in our forecast should we revisit?
- What financial risks are coming up next quarter?
- Are there opportunities to improve profitability?
These questions help keep the discussion grounded and focused on the future.
Making the Most of the Relationship With Your CFO
A quarterly CFO check-in structure is more than just a formality. They’re a chance to strengthen your partnership with your CFO and create a feedback loop that drives better business decisions.
Be open to pushback and ask for explanations if you don’t understand something. The best CFOs are strategic partners who can translate complex financial data into clear business insight. Trust and communication are key.
Closing Thoughts on How to Measure CFO Performance
When done right, quarterly CFO check-ins keep your business financially sound and aligned with your goals. They give you a clear picture of what’s working, what’s not, and where to go next. With a bit of structure, consistent communication, and the right financial partner, these meetings can become one of the most valuable tools in your leadership toolkit.
Frequently Asked Questions About Measuring CFO Performance and Running Quarterly Check-Ins
What qualities should a high-performing CFO bring to a quarterly check-in?
CFO performance metrics go beyond financial knowledge. A strong chief financial officer should also offer strategic insight, clear communication, and the ability to connect financial data to business goals. They should come prepared with analysis, not just reports, and be proactive in identifying issues and opportunities.
How can I tell if my CFO truly understands our business model?
Look for signs that your CFO links financial metrics to how the company actually operates, such as cost drivers, customer acquisition costs, or revenue seasonality. If they can speak to the financial impact of real-world decisions, they understand your model.
What should I do if the CFO only talks numbers and not strategy?
That’s a red flag. A good CFO doesn’t just report figures; they interpret them. If strategy isn’t part of the conversation, consider whether additional support or even a fractional CFO with a more strategic approach is needed.
How do I hold my CFO accountable without micromanaging?
Set clear expectations for each check-in, agree on financial KPIs ahead of time, and request concise written summaries of key findings and recommendations. This maintains accountability at a high level without requiring constant oversight.
Should I include other executives in quarterly CFO check-ins?
Yes, depending on the size of your company. Involving department heads or your COO can improve alignment across teams and bring more context to the discussion. Just make sure the meeting stays focused and that the CFO has the space to lead the financial narrative.
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Matt Garrett is the Founder and Chief Executive Officer of TGG. He is a regular speaker across the country on behalf of Vistage educating business owners on the need for sound financial practices, and is Vice President of the Board of Directors of FINACA. Under Matt’s leadership, TGG has received the following recognition: INC. 5000 top companies in the U.S. five years in a row; one of “San Diego’s Fastest Growing Companies” the past four years; and is among San Diego’s “Best Places to Work.”
