Skip to content

Onboarding an Interim Financial Controller: Keys to a Smooth Transition

If an organization’s financial leadership changes quickly, like when the financial manager leaves or during a time of change, it can quickly become very difficult to manage money. The financial manager is very important for keeping the company’s finances in good shape. They are in charge of important tasks like budgeting, audits, financial analysis, and reporting on the company’s finances. It is very important to have someone qualified and dependable in this job.

Instead of rushing to find a permanent alternative, it may be better to hire an experienced interim financial controller to fill the gap for a short time. During times of change or emergency, an interim offers companies a number of unique benefits. Let’s talk about why finding an interim financial controller might be a good idea for you and how to find the best person for the job.

Why Hire an Interim Chief Financial Officer?

Having an experienced interim financial controller fill an open job, even if it’s only for 3 to 12 months, gives stability and continuity during times when things could go wrong. Instead of other employees being forced to take on new, unfamiliar financial oversight chores on top of their regular jobs, an interim controller steps in to handle important tasks.

An temporary financial controller knows the most up-to-date accounting rules, best practices for financial management, and trends in data analysis, all of which can help the organisation right away. Companies use the interim’s new ideas based on recent work experience in the same field at other companies.

Because they are only there for a short time, interim financial controllers stay impartial when they make financial suggestions or deal with problems. Since they don’t have a long-term stake in the business, they stay out of internal politics and focus on important financial leadership.

Hiring an interim financial controller with FD Capital is also cheaper than hiring a full-time permanent controller, especially if you only need help for a short time. The lower financial risks that come with transitions are caused by the cost saves.

What to Look for in a Temporary Chief Financial Officer

Put both the technical skills and the soft skills needed for a leadership job at the top of your list when looking at candidates for interim financial controller. Try to find a break with:

5 or more years of work as a financial controller or in a similar role supervising money

  • A master’s degree in finance, accounting, or a similar field

A CPA licence or another certifiable accounting degree

– A good understanding of both general and industry-specific financial rules and accounting concepts

The ability to direct all areas of financial management through hands-on experience

● Proven ability to make financial reports and comments that are clear and correct

● Strong analytical skills to give financial advice and plan based on data

Great communication skills, both spoken and writing

● Able to reach agreements and get along with leaders and departments

A permanent hire might need to know more about your industry, but an interim candidate’s knowledge from working for different companies and in different fields is just as useful. Look for temporary accountants who are comfortable working in a range of settings.

Where to Look for Good Candidates for Interim Financial Controller

How do you begin your look for the best temporary financial controller for your needs? When you post a job opening on a general online job board, you often get applications from people who aren’t qualified, and it takes time to screen each one. Instead, use temporary staffing companies that specialise in your field.

Recruitment firms with a good reputation have huge networks of interim accounting and finance workers who have been carefully screened. The recruiters have direct access to exceptional interim controllers who have experience in your specific field and with the needs of your organisation. Instead of posting jobs all over the internet, employment agencies allow for targeted screening and placement.

Before working with a recruitment firm, find out how much experience they have finding financial leadership roles in a range of different fields. Ask for two or three examples of interim candidates who would be good for the job of temporary controller. This lets you see if the agency’s network fits your needs before you pay the hire fees.

Giving the agency clear information about your needs makes it easier to find you the best interim financial controller choices right away. Give specifics about your business’s type, size, internal accounting methods, needed qualifications, leadership skills, and duties of the controller. It is easier to find the right substitute worker if you are clear about what you need.

Getting your new interim financial controller up to speed

Once you find an interim financial controller that looks good, take the time to explain your company’s accounting procedures, internal financial systems, the rules that apply to your industry, any special projects that are going on, problem areas that need to be fixed, and the leadership tasks of the position. Give them any training or tools they need to get started quickly.

Set clear goals and key results to see how well they’re doing and how well they fit. This will help you define what success looks like. Set up regular check-in meetings to give them real-time feedback, help them make the transition, and quickly address any issues on either side.

During times of change, having an interim financial controller fill in as a temporary boss can be very helpful. Using a specialised accounting and finance employment agency makes it easier to find and hire qualified people who are ready to take on your company’s most pressing needs right now. By hiring an experienced interim, you can be sure of consistent oversight and smart financial management during times of uncertainty.