 |  |  |
The Interim CFO addressed critical financial projects and provided strategic insights that the company had been lacking | The Interim CFO elevated the overall performance of the finance team | Ensured that all financial strategies were in sync with the company’s ambitious growth plans |
The Client
A well-established business that had never employed a full-fledged CFO, relying instead on a financial controller. With ambitious growth plans and a range of critical projects on the horizon, they recognised the need for the added expertise and horsepower that an experienced CFO could bring.
The Brief
The goal was to engage an Interim CFO who could step in quickly, manage pressing projects, and demonstrate the critical value a CFO can bring to the business. Essentially, the objective was to prove a business case for a CFO permanent role. While the current financial controller was proficient, there was a need for someone who could elevate performance to meet growth aspirations. The Interim CFO would be responsible for this enhancement and ensuring financial strategies align with the company's growth goals.
The Solution
Watermark identified three candidates available immediately who closely fit the brief. The CEO personally interviewed each candidate and quickly formed a strong rapport with one. The chosen Interim CFO was appointed on an initial, flexible three-month contract to undertake high-priority projects and prove whether there was a role for a permanent longer-term CFO within the organisation.
The Interim’s Contribution
Immediate Impact: The Interim CFO hit the ground running, addressing critical financial projects and providing strategic insights that the company had been lacking.
Elevating Performance: By mentoring the financial controller and implementing advanced financial strategies, the Interim CFO elevated the overall performance of the finance team.
Strategic Alignment: Ensured that all financial strategies were in sync with the company’s ambitious growth plans.
Enhanced Reporting: Improved financial reporting for General Managers, providing clear and actionable insights.
Seamless Integration: Successfully integrated into the company culture and operations.
Summary
The strategic placement of an Interim CFO proved to be invaluable. This approach not only addressed immediate needs but also provided a compelling business case for a permanent CFO role. With the right skills and experience, the Interim CFO supported and drove the company’s ambitious growth strategy, ensuring sustained success and realising the CEO’s vision for the Group.
Caroline McAuliffe
Senior Partner, Watermark Search International
caroline.mcauliffe@watermarksearch.com.au