The Chief Financial Officer (CFO) of Florida is Jimmy Patronis.
As one of Florida's three elected statewide cabinet members, the CFO plays a crucial role in overseeing the state's finances and financial services. The office is responsible for various functions, from managing state funds to regulating insurance and financial industries.
The Office of the Chief Financial Officer of Florida
The Chief Financial Officer of Florida heads the Florida Department of Financial Services. This department is central to the state's economic stability and consumer protection. The CFO's role encompasses a broad range of responsibilities, making it a pivotal position within Florida's government.
Key Information About the Florida CFO
The following table provides a concise overview of the Chief Financial Officer position in Florida:
| Aspect | Details |
|---|---|
| Incumbent | Jimmy Patronis |
| In Office Since | June 30, 2017 |
| Department Headed | Department of Financial Services |
| Term Length | 4 years, renewable once |
| Inaugural Holder (2003) | Tom Gallagher |
Responsibilities of the CFO
The Chief Financial Officer's duties are extensive and critical to the financial well-being of Florida. These responsibilities typically include:
- State Treasury Management: Overseeing the state's vast financial assets, investments, and expenditures.
- Insurance Regulation: Acting as the State Fire Marshal and regulating the insurance industry to protect consumers.
- Financial Services Regulation: Licensing and overseeing various financial entities, including banks, credit unions, and securities firms.
- Fraud Prevention: Investigating and prosecuting insurance fraud and other financial crimes.
- Consumer Protection: Providing resources and assistance to Floridians regarding financial and insurance-related issues.
The CFO also serves on the Florida Cabinet alongside the Governor, Attorney General, and Commissioner of Agriculture, participating in key decisions affecting the state.
