Skip to content

Securing Critical Financial Leadership With an Interim Financial Controller

It can be extremely detrimental for an organisation to find itself suddenly without reliable financial leadership, whether it’s because the financial controller left or because of a moment of change. Overseeing crucial tasks including financial reporting, cash flow monitoring, budget management, audits, and financial analysis, the financial controller plays a crucial role in maintaining the stability and health of a company’s finances. It is crucial that this role be filled by a trustworthy and capable individual.

Hiring a skilled interim financial controller to cover the gap until a permanent replacement can be found can be a more effective course of action. When there are emergencies or periods of change, an interim provides businesses with a number of special benefits. Let’s discuss the benefits of using an interim financial controller for your organisation and how to find the best fit.

What Justifies Hiring a Temporary Financial Controller?

Even for a brief period of time—three to twelve months—hiring a competent interim financial controller offers stability and continuity during risky times. An interim controller discreetly fills in to oversee crucial tasks rather than having other staff members take on unexpected financial oversight obligations on top of their regular duties.

An organisation can profit right away from an interim financial controller’s cutting-edge understanding of current accounting standards, best practices for financial management, and trends in data analysis. Companies take use of the new insights that the interim brings from previous work experience at other businesses.

An interim financial controller maintains objectivity when making financial advice or handling problems because of their transitory position. Being financially neutral, they stay out of internal politics and can concentrate on the crucial role of financial leadership.

When only short-term covering is required, interim financial controllers also work out more economically than hiring a permanent full-time controller. The cost reductions lessen the monetary risks related to changes.

Qualities of a Temporary Financial Controller

When assessing candidates for temporary financial controller positions, give equal weight to the hard and soft qualities required for a leadership position. Seek a stand-in for:

● Five or more years of experience working particularly as a financial controller or in a role related to financial oversight

● Master’s degree in finance, accounting, or a similar discipline

CPA licence or a comparable certification in accounting

● Practical understanding of financial regulations and accounting principles, both general and industry-specific

● Practical experience overseeing every facet of financial administration

● Demonstrated proficiency in creating precise and lucid financial accounts and reports

● Excellent analytical abilities to offer data-driven financial plan and advice

Outstanding abilities in both written and spoken communication

Capacity to establish relationships and reach agreements with executives and departments

Although a permanent hiring would need more in-depth knowledge of your particular industry, an interim candidate’s extensive background from a variety of businesses and industries shows to be just as beneficial. Look for interims who feel comfortable navigating a range of accounting settings.

Where to Look for Reputable Candidates for Interim Financial Controllers

So where do you look first in your quest for the most suitable temporary financial controller? Posting on generic internet job boards tends to draw in people who are not as qualified, and it takes time to screen each one. Use specialised temporary employment agencies instead.

Reputable employment agencies have extensive networks of extensively screened temporary accountants and financial experts. The recruiters have direct access to exceptional temporary controllers with specific knowledge in your sector and organisational requirements. Targeted screening and placement are made possible by recruitment agencies, as opposed to a disorganised approach through job boards.

Examine a recruitment agency’s track record of landing finance leadership positions in a variety of industries before working with them. Send out two or three sample interim candidates that might work well as your temporary controller. This enables you to determine, before to paying recruitment fees, whether the agency’s network meets your needs.

It is easier for the agency to provide you the best matching interim financial controller solutions right away if you are clear about what you need. Provide specifics about your sector, size of business, internal accounting practices, necessary credentials, necessary leadership abilities, and anticipated controller responsibilities. Finding the proper fit happens more quickly the more open you are about your temporary wants.

Getting Your New Temporary Financial Controller Started

After you establish contact with a potentially qualified interim financial controller through FD Capital, take the time to brief them about the accounting procedures and internal financial systems of your business, the particular requirements that apply to your sector, any ongoing special projects, problem areas that require attention, and the leadership responsibilities of the position. Assist them with any training or resources need to get started as soon as possible.

Establish measurable goals and essential outcomes to assess their performance and suitability in order to define what success looks like. Organise frequent check-in meetings to help their transition, offer interim real-time input, and promptly handle any issues raised by either party.

During times of change, having a temporary interim financial controller fill a leadership void can be quite helpful. Using a specialised accounting and finance recruitment firm makes it easier to find and onboard competent people who are prepared to take on the urgent needs your business is currently facing. During delicate times of uncertainty, you may guarantee consistent oversight and proactive financial management by investing in an expert interim.