This Dairy Chief Financial Officer (CFO) job description sets out the main duties, qualifications, skills and measures of success for the role, which is also known as Finance Director, Group Finance Director, Chief Finance Officer or VP Finance. Download it free as a Word or PDF template and adapt it for your own vacancy.
| Job title | Dairy Chief Financial Officer (CFO) |
| Also known as | Finance Director, Group Finance Director, Chief Finance Officer, VP Finance |
| Department | Dairy leadership and board |
| Reports to | Chief Executive Officer, with direct access to the Board and the Chair of the Audit Committee |
| Direct reports | Financial Controller, Head of Financial Planning and Analysis, Treasury Manager, Milk Payments Manager, and heads of tax, risk or IT where relevant |
What does a Dairy Chief Financial Officer (CFO) do?
Leads the finance function of the dairy business and safeguards its financial health. Oversees milk price setting and payments to suppliers or members, manages exposure to volatile commodity markets and makes sure capital is invested wisely. Advises the Chief Executive and the Board on financial strategy, risk and performance.
Dairy Chief Financial Officer (CFO) duties and responsibilities
Financial strategy and reporting
- Develop the financial strategy, funding plan and capital structure for Board approval
- Lead the annual budget, forecasts and long-term financial plan
- Produce timely, accurate management and statutory accounts in line with accounting standards
- Present financial performance and risks clearly to the executive team, the Board and the Audit Committee
- Manage relationships with lenders, investors, auditors and tax authorities
Milk price and supplier payments
- Lead the calculation of the milk price using market returns, product mix and the agreed pricing policy
- Make sure suppliers or members are paid accurately and on time, with clear statements
- Explain how the milk price is set to farmers, members and the Board in plain terms
- Oversee payments for milk quality, composition and seasonality, including bonuses and deductions
- Manage retentions, dividends and member share capital in line with the co-operative's rules where they apply
Commodity risk and treasury
- Set the policy for managing exposure to butter, powder, cheese and other commodity prices
- Oversee hedging through futures, forward contracts and fixed-price agreements within Board-approved limits
- Manage currency risk on export sales and imported inputs
- Manage cash, working capital and banking facilities through seasonal milk peaks
Capital investment
- Lead the capital allocation process and test investment cases for plant capacity and new products
- Review major projects after completion to confirm they delivered the expected return
- Assess acquisitions, joint ventures and disposals and lead financial due diligence
- Secure funding for investment through debt, member capital or other sources
Governance, risk and control
- Maintain strong internal controls and clear delegated authorities across the business
- Lead the risk management framework and keep the risk register up to date
- Support the Audit Committee and the internal and external audit processes
- Ensure the business meets tax, company and co-operative law and reporting requirements
- Oversee the reporting of sustainability data to the standard lenders, customers and regulators require
Finance leadership
- Lead and develop a capable finance team
- Improve finance systems, data and automation to support better decisions
- Act as a trusted financial adviser to executives and plant leaders
Dairy Chief Financial Officer (CFO) qualifications and experience
Essential
- Professionally qualified accountant with a recognised accounting body
- Senior finance leadership experience in food, dairy, agribusiness or manufacturing
- Experience of managing commodity price risk and hedging
- Track record of evaluating and funding major capital investments
- Experience of reporting to a Board and working with an audit committee
- Strong knowledge of financial controls, treasury and tax
Desirable
- Experience of milk price setting or supplier payment systems
- Experience in a farmer-owned co-operative
- Experience of export trade and currency management
- Experience of mergers, acquisitions or refinancing
Skills and attributes
- Financial analysis and modelling
- Commercial judgement
- Explaining complex numbers in plain terms
- Risk management
- Integrity and independent thinking
- Leading and developing teams
- Confidence with finance systems and data
How success is measured
- Accuracy and timeliness of milk payments and month-end reporting
- Financial results, cash flow and debt against plan
- Commodity and currency exposure kept within approved limits
- Return on capital from major investments
- Clean audit opinions and timely closure of control findings
Working conditions and safety
Based at head office with travel to sites, lenders and member meetings. Attends Board and Audit Committee meetings and works to fixed monthly milk payment and reporting deadlines.
- Lead by example on health, safety, food safety and animal welfare
- Uphold the code of conduct and all legal and compliance requirements
- Raise concerns and report incidents promptly
Dairy Chief Financial Officer (CFO) interview questions
Use these questions to assess candidates for a Dairy Chief Financial Officer (CFO) role. Each one includes what a good answer shows.
- Explain how you would set a milk price that is fair to farmers and sustainable for the business.
What a good answer shows: Links price to market returns and product mix, follows agreed policy, considers cash and investment, and explains the method clearly. - How would you design a hedging policy for butter, powder and cheese price exposure?
What a good answer shows: Identifies exposures, sets Board-approved limits, uses suitable instruments, separates duties and reports positions and results regularly. - How do you test a capital investment case for new plant capacity?
What a good answer shows: Challenges assumptions on milk supply, prices and costs, runs scenarios, checks strategic fit and reviews returns after completion. - How do you manage cash and working capital through seasonal milk peaks?
What a good answer shows: Forecasts cash carefully, plans stock build and banking facilities, and manages customer and supplier terms actively. - Commodity prices fall sharply just after the milk price has been announced. What do you advise the Board?
What a good answer shows: Quantifies the impact, sets out options and risks, protects cash and lending covenants, and plans honest communication with farmers. - A milk payment run contains errors affecting hundreds of farmers. How do you handle it?
What a good answer shows: Corrects payments quickly, tells farmers openly, finds and fixes the root cause, and strengthens controls to prevent a repeat. - How do you work with the Audit Committee, and when would you raise concerns directly with its Chair?
What a good answer shows: Gives full and candid information, understands the committee's oversight role and escalates serious control or integrity concerns promptly. - How do you stop hedging or trading activity from turning into speculation?
What a good answer shows: Ties hedges to physical exposure, enforces limits and separation of duties, and reports positions independently to the Board. - How have you developed a finance team into a trusted business partner for operations and sales?
What a good answer shows: Builds commercial understanding, improves data and reporting, coaches people and places finance staff alongside operational leaders. - How do you explain complex financial information to farmers or non-financial directors?
What a good answer shows: Uses plain language, simple visuals and real examples, checks understanding and stays patient with challenging questions.
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Frequently asked questions
Leads the finance function of the dairy business and safeguards its financial health. Oversees milk price setting and payments to suppliers or members, manages exposure to volatile commodity markets and makes sure capital is invested wisely. Advises the Chief Executive and the Board on financial strategy, risk and performance.
Employers usually look for: professionally qualified accountant with a recognised accounting body; senior finance leadership experience in food, dairy, agribusiness or manufacturing; experience of managing commodity price risk and hedging.
A Dairy Chief Financial Officer (CFO) usually reports to the Chief Executive Officer, with direct access to the Board and the Chair of the Audit Committee. Direct reports typically include financial Controller, Head of Financial Planning and Analysis, Treasury Manager, Milk Payments Manager, and heads of tax, risk or IT where relevant.
Yes. Download the free Word template, add your location, contract and salary details, and adapt the duties to your site. You can then advertise the role on Dairy Jobs.
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