Peridot Partners has recruited more than 20 Chief Financial Officers across academy trusts in the last two years. Every appointment has looked a little different, because trusts are still working out what they need from the role.
The latest Academy Trust Handbook (effective from 1 October 2026) was meant to bring clarity, with new statements on qualification and expectation linked to a trust’s size. Instead, it’s prompted fresh questions about what those changes mean for CFOs already in post, and for anyone stepping into the role for the first time.
We spoke to our partners at Edufin, who work with academy trusts across the country on financial strategy, operational efficiency and leadership support. In this piece, they share how the Handbook reflects a role that’s already changed and what growth does to a CFO’s day-to-day responsibilities.
How does the Academy Trust Handbook reflect the CFO role's evolution?
Our view is that the latest Handbook simply acknowledges what many trusts have already recognised: the CFO role has evolved.
For many of us working in the sector, this isn’t a new development. We’ve seen the role gradually evolve from being primarily focused on finance into one that plays a much broader part in shaping the direction of a trust. Today’s CFO brings far more than technical financial expertise. They’re helping to shape strategy, make informed decisions about resources and ensure that educational ambition is backed by sound financial planning.
One of the changes we particularly welcomed was the Handbook’s recognition that the CFO role is both technical and leadership in nature. That might sound like a subtle change in wording, but we think it’s an important one. When the CFO is part of the leadership team, they develop a much deeper understanding of the trust’s priorities, challenges and ambitions. That broader perspective allows them to offer advice that considers the bigger picture, rather than simply looking at decisions through a financial lens.
In our experience, there are still some trusts where finance can feel a little separate from the wider leadership team. The CFO may only be brought into discussions when there’s a budget to approve or a significant financial issue to resolve. This risks finance being seen as a support function, rather than an integral part of leading the organisation.
The strongest trusts we’ve worked with are those where finance is part of the conversation from the very beginning. That’s when CFOs can add real value, not simply by balancing the books, but by helping turn educational ambition into something that’s financially achievable.
Read more: Navigating recruitment processes for academy trust leaders
How does the academy trust CFO role change with growth?
As trusts grow, so does the role of the CFO.
Smaller trusts generally need someone who is both operational and strategic, having one person with a broad focus across all financial elements.
Larger trusts who pool resources can have a structure with Heads of Finance / Finance Business Partners who take away the operational responsibilities and allow the CFO to be purely strategic in nature.
With growth, the number of people a CFO works alongside also increases. It’s no longer simply about supporting one headteacher or one governing board. A CFO may be working with dozens of headteachers, multiple local governing bodies, trust board committees and a large central team, all with different priorities, perspectives and personalities. Building those relationships becomes just as important as technical expertise.
Irrespective of a trust’s size, the responsibilities and expectations of the CFO have increased significantly over the past few years.
We’ve seen the DfE place a greater focus on financial sustainability, whether looking at reserves balances, benchmarking or School Resource Management tools. It’s no longer just about monitoring financial transactions or ensuring compliance. Today’s CFO is expected to help optimise resources, support strategic planning and guide decisions that will shape the future of the trust.
Herein lies the difficulty from a personnel perspective, as roles and responsibilities will change in line with growth and increased scope of the role; however, individuals will remain the same. This needs to be a consideration for all trusts, but especially those with growth, ensuring that the structure evolves and relevant support and training is provided where required.
What’s clear from this is that the Handbook is only catching up to a role that’s already changed, and trusts that recognise that early are better placed to support their CFOs through it. In the next piece in this series, we look at a question boards often ask: Does a great CFO need a professional qualification, or does experience count for just as much?
EduFin is an education finance specialist, working with academy trusts across the country on financial strategy, operational efficiency and leadership support. Their services span consultancy, outsourced finance, audit assurance, due diligence and CFO mentoring, alongside financial software built specifically for the sector.
Eddie Caveziel Cox is Peridot’s Head of Schools & Academy Trusts Appointments. Having delivered hundreds of senior leadership and non-executive appointments to education providers, Eddie is an expert in finding leaders who make a tangible impact on communities.
