Financial Executive to the Rescue

A financial executive fluidly moves through the interim executive market, with a streamlined expertise crossing industry boundary lines with facility.

They form a large chunk of the interim executive marketplace today, and that will likely remain the case as more companies seek expertise to manage today’s complex financial rules and regulations.

A financial executive can be an integral part of strategy, and a financial interim can be of critical use when company finances and decision-making need fixing under intense deadline pressure. It’s a roll-up-your-sleeves and dive into work scenario which includes the following priorities:

  1. An experienced financial executive first will analyze the situation and miss nothing, X-raying the company’s financial information in context of the leadership’s ultimate goals. If publicly traded or PE driven, that goal is narrowly focused on earnings improvement.
  2. An interim stops the bleeding. An experienced interim financial executive will pinpoint areas where cash is escaping, said Martin Mayr, an interim CFO based in Austria. No use worrying about a superficial scrape on the forehead if the femoral artery is draining funds. Demand transparency from the numbers. An interim will watch cashflow like a hawk, particularly if brought in under distress or bankruptcy, where reporting requirements are immediate.
  3. Not first but still a priority: organizational changes. Is the workforce being utilized in the most efficient manner? Are processes streamlined? Does cost-cutting apply or is new training needed? Interims can be a great source for getting      at the reality, without the political ties that impede tough conversations with employees about necessary changes.

Interim engagements are not for long-term caretakers, but for executives ready to force fast changes, or a troubled or transitioning company back on track.