How can your company find the best CFO candidate? First, you need to determine how well a person can handle the responsibilities of this position. An executive search firm reduces the amount of time and money it takes to locate this ideal candidate by tapping into a network of qualified individuals.
Here are some of the traits that you should prioritize when looking for a good CFO—and some things that search consultants will help you evaluate:
- Ability to work with auditor independence: Writing for CFO, Jay Bornstein and Steve Blowers outline the role that the CFO plays in supervising auditor independence and making sure no legal violations take place during transactions. "It is key for the finance chief, other senior managers and the audit committee to reach their own assessments regarding the nature of the violation and its impact on the auditor's independence," they write. To accomplish this, CFOs have to take an active role looking at the protocol that their firm and partners have in place.
- Ability to prepare for an Initial Public Offering (IPO): The IPO is an important moment for an organization, and CFOs who handle it well set their businesses up for prolonged success in the future. A Forbes piece notes that 858 IPO deals have already occurred this year, and a good CFO will sustain growth both leading up to and after this event.
- Ability to communicate effectively: Knowing how to effectively reach out to other employees and business partners will help a CFO candidate prove themselves and establish important connections. Knowledge of newer technology and work habits is another important consideration when looking for a CFO.
If they are able to perform these skills successfully, your CFO will be more suited to their position within your company.
Finding people is easy, but finding the RIGHT people is not. YES Partners helps companies FIND the right people – for all company functions, across many industries and globally.
