Simply put, accounting plays the most crucial function for every company in every industry. If you don’t know where you are or where you are going, then you might expect a bumpy road and some dead ends along the way. Accounting helps a company by interpreting the numbers into an understandable statement or story about profitability or loss. That’s what makes accounting recruitment so important. At Duffy, we specialize in recruiting top accounting executives, the CFOs who can see what’s happening now, see what’s coming, and make a roadmap for the future.
Finding the Best Chief Financial Officer Begins with Your CFO Recruiter
In today’s uncertain economic climate, it is essential to hire the right CFO and not the first available. Finding the right Chief Financial Officer is vital to a company’s success. This makes it hard to imagine why every sizable company doesn’t utilize an experienced CFO recruiter for hiring the most crucial person in a company.
Finance and Accounting Recruitment Requires Real Expertise
“Financial and accounting recruiters should understand the CFO role in a meaningful and in-depth way”, explains Sharon Grace, Duffy Group Executive Recruiter & Practice Leader for Accounting & Finance. “The CFO is the right arm to a CEO and is responsible for communicating a company’s past and managing their present financial situation. He or she plays an integral role in the assistance of the company’s ultimate success by overseeing their financial actions. Since the financial crisis, CFO’s have become increasingly critical strategic partners.”
The main components of the CFO position include:
- Controllership-presenting and reporting accurate and timely historical financial information.
- Treasury-investing the company’s money with consideration of risk and liquidity. The CFO also oversees the company’s capital structure to determine the best mix of debt, equity, and internal financing.
- Economic strategy, forecasting, and modeling- determining areas of a company that are the most efficient and finding ways to capitalize on them. The CFO is always trying to predict the best way to ensure the future success of the company.
The COVID-19 crisis quickly brought the world into a downturn and recession. We are in challenging times. Most companies will not only come out fully intact, but they can also find ways to seize opportunities to outperform their competitors and position themselves for future growth.
“The CFO may need to look for new tools to make this possible,” Sharon says. “During challenging times, it is even more imperative to have a strong and strategic CFO who will focus their efforts on:
- Planning for and organizing a shift in the workplace which may result in accomodations for a remote workforce and possibly a reduction in staff.
- Making sure there is enough cash and liquidity.
- Working to streamline business operations to drive improvement.
- Focusing on risk management for both the short and long term.
- Determining which parts of the business can bounce back and grow in the post-COVID-19 recovery.
- Taking advantage of opportunities to hire talent that previously were in demand and hard to find, but could be available now.”
Hiring the right CFO will create the financial roadmap for a successful journey. Please keep Duffy Group and Sharon Grace, Executive Recruiter & Practice Leader-Accounting & Finance, in mind when you are looking for a recruiting partner to advise and create a targeted recruiting strategy.