At a glance
- Engagement length
- 2 to 4 days a month, typically 6 to 12 months
- Best fit
- Organizations $2M to $50M needing CFO rigor without a full-time hire
- Format
- Hybrid: in person on Vancouver Island, remote across Canada
- Led by
- Phil Graham, CPA, CA, MBA
- Based in
- Victoria, British Columbia, Canada
- Contact
- hello@philgraham.com
Most growing organizations hit a moment where bookkeeping and basic accounting aren't enough anymore. Cash flow gets harder to read. Board reporting starts to feel reactive. The team is making material decisions without the financial framing they need. Hiring a full-time CFO at that stage is often premature, and almost always too expensive.
A fractional CFO bridges that gap. You get executive financial leadership (board reporting, multi-year forecasting, cash strategy, audit oversight, risk frameworks) at a fraction of the cost and on a cadence that matches what the organization actually needs right now.
I'm Phil Graham, a CPA, CA, MBA based in Victoria, BC. I've held CFO and senior finance roles in independent schools, nonprofits, and a $400M Olympic legacy organization. My fractional CFO work draws directly on that experience to give boards and senior teams clear-eyed financial leadership they can act on.
What's Included
The work, in plain terms
- Board-level financial reporting and presentations that boards actually use
- Multi-year financial planning and scenario forecasting
- Cash flow strategy, runway analysis, and liquidity management
- Audit preparation and external auditor liaison
- Risk management frameworks and internal control design
- Mentoring and development of in-house finance staff
- Funder and lender reporting, including covenants and metrics
- Capital planning, financing structure, and major-purchase analysis
Who It's For
Built for the leaders who actually carry this weight
Founder-led organizations
Founders past the start-up stage who need a financial partner at the leadership table, not just an outsourced bookkeeper or controller.
Independent schools
Heads of school and boards who want CFO-level rigor on enrollment economics, capital planning, and financial sustainability without adding a full executive role.
Nonprofit organizations
Executive directors and finance committees that need board-ready reporting, real forecasting, and a credible voice in funder and government conversations.
Boards and senior leadership teams
Boards inheriting a complex financial picture who need an experienced CFO embedded for a defined period to stabilize, restructure, or build capacity.
How It Works
A predictable engagement, not a mystery
- 1
Diagnostic conversation
A direct conversation about where the organization is today, what's working, and what's keeping leadership up at night. No script, no pitch.
- 2
Scoping and engagement design
We agree on the cadence (a few days a month, weekly, embedded), the deliverables, and the people I'll be working with. Engagements are sized to the work, not to a retainer template.
- 3
Embedded work
I integrate into the executive seat for as long as the work demands. Board cycles, funder timelines, and audit deadlines are anchored to a predictable cadence so the organization can plan around the financial leadership it now has.
- 4
Capacity transfer
Where possible, every engagement leaves the organization stronger. Tools, templates, and developed in-house staff so the CFO function is not permanently dependent on an outside person.
Frequently Asked Questions
The questions leaders actually ask
What does a fractional CFO actually do day to day?
A fractional CFO does the senior financial work an organization needs, on a cadence that fits its size and stage. That typically includes board reporting, multi-year planning, cash flow strategy, audit oversight, risk frameworks, and being a financial sounding board for the executive team. It's not bookkeeping, and it's not transaction processing. It's the strategic and oversight layer that sits above day-to-day accounting.
How is this different from hiring a controller or outsourcing accounting?
A controller (and your accounting team) keeps the books accurate and the transactions clean. A CFO uses that information to shape the future of the organization. Fractional CFO work is about strategy, board credibility, capital decisions, and risk. If the work in front of you is mostly transactional, you probably need a controller, not a CFO.
How much time does a fractional CFO engagement typically take?
It varies. Some organizations need two to four days a month for ongoing rhythm work (board cycles, forecasts, oversight). Others need an embedded presence for a defined period of change, like a leadership transition, a major capital project, or audit preparation. Engagements are scoped to the work, not packaged into fixed retainers.
Do you work remotely or only in Victoria, BC?
Both. I'm based in Victoria and serve clients across Vancouver Island and the Lower Mainland in person where it adds value. I also work with organizations across Canada remotely. Most fractional CFO work blends regular video sessions, asynchronous deliverables, and a small number of in-person sessions for board meetings and planning days.
When is the right time to bring in a fractional CFO?
The honest signal is when financial decisions are getting harder to make confidently. New funding, a major capital decision, board concern about reporting, an upcoming audit, leadership transition, or just the sense that the organization has outgrown its current financial setup. If any of those are present, it's the right time to have the conversation.
Will you eventually hand the work back to a full-time CFO?
Yes, when that's the right move. Many of my engagements are designed to either build the in-house finance function until it can hold its own, or to bridge the organization until a full-time hire makes sense. Either outcome is a success.
Further Reading
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