Guide to Hiring a CFO

There are few jobs more important in a company than the CFO. The Chief Financial Officer is responsible for managing all financial aspects of a business, but in particular, the big picture stuff. Long term financial health often comes down to the planning capabilities of your CFO and their ability to foresee potential challenges and opportunities. This is not a role you should be looking to cut corners with!

Whether you’re a small business now in the position to create a CFO role or a large corporation needing to fill a fresh vacancy, there are many executive search firms in Sydney that can help you hire for this important position. Here’s a little taste of what teams that provide executive search in Australia look for in a potential CFO.

CFO responsibilities
The Chief Financial Officer takes a leading role in most, if not all, financial matters. While an accountant or HR might be responsible for day-to-day tasks, such as managing payroll, the CFO provides leadership and strategic direction on financial issues.

The main responsibilities of a CFO include:

● Providing strategic financial advice to others in the C-suite team.
● Forecasting revenue, costs, and cash flow.
● Putting together long-term financial plans.
● Reviewing financial documentation.
● Establishing positive relationships with stakeholders.

CFO qualities
The qualities you should be looking for in a CFO are much the same as any other member of the C-suite team. They must provide proactive, hands-on leadership. They should be able to establish productive working relationships with both internal and external stakeholders. A CFO must be able to establish informed, creative solutions to problems, no matter how big or small.

You should also prioritise experience. As is the case with all C-suite positions, your CFO will be making critical operational and financial decisions. These need to come from an informed place. Ideally, your CFO will possess many years of experience working in your industry. The situations they have faced in the past will help guide them through current challenges and opportunities.

How to hire for a CFO
Many companies are unsure how to approach the task of hiring a CFO, with good reason. You can expect the process to take considerable time and resources. Going with the wrong candidate will come with significant consequences, too.

With that in mind, the best strategy to implement when hiring a CFO is to use a professional executive search firm in Sydney.

Executive search teams know exactly what to look for in a C-suite employee. They can discern which candidates come armed with appropriate experience and can instantly recognise who will be a good cultural fit for your company.

One of the main advantages to working with a company that provides executive search in Australia is their broad network of contacts. Rather than relying on potential candidates seeing your job advertisement and sending through an application, executive search teams are proactive in their work and actually approach suitably qualified individuals within the industry.

Executive search firms combine efficiency and high performance to come up with the best candidate for the job. When hiring for a Chief Financial Officer, don’t trust anyone else — not even yourself!