The hidden blueprint: How to identify that seriously good finance leader

Overview

Identifying and hiring a great Finance Leader can be one of the single most consequential decisions a company can make. A top-tier senior finance hire can turn around underperforming finance teams and repair reputational damage (both internally and externally); it can establish financial stability and, critically, can transform the culture to build a high-performing team. Of course, hiring poorly can be, at best, frustrating and, at worst, catastrophic. In today's competitive market, strategic finance leadership recruitment is essential. But how do you identify that seriously good senior candidate?

Initial Impressions: spotting exceptional finance leaders early

This is the bit before you start investing your time in the lengthy interviewing process. Sure, you might not be able to pinpoint that superstar immediately, but here are three big ticks and three red flags we use when we are scouring the market for that seriously good senior candidate.   

Key indicators of top-performing finance leaders

The big ticks

• Strong team leadership indicators: The CV may indicate that they have led teams with little turnover and have boomerang employees (those that left but then decided they wanted to rejoin). They will have a track record in developing and promoting their team and may also have a history of taking their star performers with them. Your next CFO brings along their star performers as well? Yes, we’ll have some of that, please.
• Referrals/references from a trusted source: There is no better recommendation than by a trusted source, whether they are an Audit Partner in common or a fellow Finance leader. And with Sydney being such a small place, you never know what conversations have been had in the background well before the interviews have begun. Sure, formal referencing checking still has its place, but a personal recommendation carries a lot of weight. Professionalism and a strong work ethic during their notice period is another big tick.
• A track record of achievement and progression on their resume: A good resume should make sense. It should show progression and stickability. Sure, call it stability if you want, but it’s the determination to push through uncomfortable, tough times. There will always be occasions when that hasn’t been possible for personal and business reasons but ….

The red flags:

• An overly choppy resume that raises questions about their ability as a finance leader: Lack of progression in the resumes and continually moving companies to secure a promotion isn’t a good start. It does raise a few questions. COVID did wreak a bit of havoc, but good candidates quickly found their groove and progression again. Conversely, a candidate that has remained at length in the same company without progression or role expansion is more likely a sign of a loyal journeyman/journeywoman than a mover and shaker.
• Lack of achievements: No longer a back-office laggard, the modern Senior Finance candidate is expected to drive change and efficiencies. So you would certainly expect that to feature heavily on their resume. If it’s not on their resume, it’s either a careless administrative oversight. Or worse. 
• Constant team churn: Led teams that keep, well … quitting. Again, that might not be their fault, but if there is a trend, that will need a bit more investigation. It’s hard to build a high-performing team if they keep walking out.

Discover top Finance Leader Candidates today

Final thoughts: Your next finance leader is the game-changer your business needs

Sure, the above list isn’t definitive, but it’s a good start. Of all the seriously good senior candidates we have met and interviewed, more often than not, they share those three big ticks. The next step, of course, is the interview, where you can drill down to understand if you are indeed sitting in front of that pink unicorn.  Will they make your life easier and help drive your business forward?

For more information on recruiting your next senior finance professional, contact one our our Executive Recruitment specialists at 02 8324 5640 or complete the form and we will be in touch.