Within a company, a senior management team is a group of individuals that run the company at the highest level. They are sometimes called executives because they make important decisions on behalf of the company and hold authority conferred by the company’s board of directors or shareholders. The following are some of the various positions that might exist at a large company with many top-level executives.
Chief Financial Officer (CFO)
The CFO is responsible for ensuring the financial health of a corporation. This may include keeping records, financial planning, gauging financial risks, and reporting to the board of directors or the CEO. Some CFOs analyze data. They may also be elected members of a company’s board of directors.
Chief Technology Officer (CTO)
CTO sometimes stands for chief technical officer. The role of CTO is a relatively new position in recent history that became more prevalent with the development of the information technology (IT) sector. In general, this is a senior-level management position that involves assessing and managing technology- or science-related issues within a company. It depends widely on the industry; CTOs are prevalent in technology-based industries such as video game development, social networking, e-commerce and non-computer technologies such as defense, automotive, and biotechnology sectors. He or she may be in charge of overseeing research and development departments.
Chief Administrative Officer (CAO)
Within a company, a CAO is tasked with managing the administrative needs of a company. This may include managing day-to-day operations and reporting to the CEO. In other cases, the CAO is the president of the company.
Chief Information Officer (CIO)
CIO is a job title often found in the IT sector. It is similar to the position of CTO and many organizations have either a CIO or a CTO. The CIO is generally responsible for managing the computer technology or systems that contribute to the fulfillment of company goals. Like other executive officers, the CIO reports to the CEO and the board of directors.
Chief Marketing Officer (CMO)
The CMO is responsible for directing the marketing activities within a company. He or she may lead particular departments, including sales, distribution, advertising, branding, and market research. This job involves a very broad skillset, as the CMO must have expertise and experience in analyzing market trends, determining pricing, designing advertising campaigns, leveraging social media, and coming up with promotions. He or she also has to have excellent people skills in order to manage team members and attract customers. The day-to-day tasks of a CMO may differ according to the nature and goals of the company. The CMO reports to the CEO and the board of directors.
Chief Human Resources Officer (CHRO)
A CHRO is responsible for managing the human resource department of the company. Similar positions include: Chief Personnel Officer (CPO) and Vice President of Human Resources. Duties of the CHRO may include forming a strategy for building the company’s workforce, ensuring performance of employees, assessing the organizational structure of the company, and ensuring compliance standards are met.