A tactical checklist that decision-makers can use to rethink their hiring process and align better with team goals and compliance standards.
Here’s a reality check: 73% of finance hires don’t work out as expected.
That’s not just my observation, it’s what happens when you rush through your hiring process without the right framework. And honestly? It makes sense. One mediocre finance hire can derail your quarterly close, mess up compliance reporting, or worse, give your board incorrect data when they need it most.
I’ve watched this play countless times. A CFO posts a generic job description, interviews a handful of candidates, and hires someone who looks good on paper. Six months later, they’re either managing that person’s gaps or starting the search all over again.
But here’s what I’ve learned from working with finance leaders across industries: the CFOs who consistently make great hires aren’t necessarily better at interviewing. They’re better at preparing. They ask themselves hard questions before they ever shortlist candidates.
Want to be in that successful minority? Let’s dive into the tactical checklist that changes everything.
1. What specific problem is this hire solving?
Before you even think about drafting a job description, get crystal clear on the pain point. Are you drowning in month-end closing procedures? Struggling with financial analysis depth? Facing compliance gaps?
Here’s the thing: companies that define specific problems before hiring see 40% better retention rates in their first year. The best finance hires address operational challenges, not just headcount quotas. When you can articulate exactly what problem you’re solving, you’ll write better job descriptions and ask more targeted interview questions.
2. How does this role connect to our three-year strategy?
Finance isn’t just about keeping books anymore. Your next hire should understand how their work drives strategic initiatives. Whether you’re planning an IPO, expanding internationally, or implementing new ERP systems, every role should have clear strategic alignment.
This question helps you avoid hiring someone who’s technically competent but strategically misaligned with where your organization is heading.
3. What compliance requirements will this person have?
Compliance isn’t optional, and it’s getting more complex every year. Get this: the average mid-size company deals with 47 different financial regulations. Before you shortlist candidates, map out exactly which regulations, reporting requirements, and audit processes this role will touch on.
Your job description should explicitly mention these compliance responsibilities. Trust me, it’s better to scare away candidates who aren’t ready for regulatory rigor than to hire someone who’ll create problems later.
4. How will we measure success in the first 90 days?
Vague success metrics lead to vague performance. Define specific, measurable outcomes for the first quarter. Maybe it’s reducing closing time by two days, implementing a new budgeting process, or completing systems integration.
Clear success metrics help you shortlist candidates who have relevant experience and give new hires a roadmap for immediate impact.
5. What technical skills are non-negotiable versus nice-to-have?
Every CFO has a wish list of technical competencies, but not every skill is equally critical. Separate your must-haves from your nice-to-haves before you start reviewing resumes.
For instance, advanced Excel modeling might be non-negotiable for a financial analyst role, while Power BI experience could be a nice-to-have that you’re willing to train. This clarity streamlines your hiring process and helps candidates self-select appropriately.
6. How does this role interact with other departments?
Finance touches everything in modern organizations. Your new hire might need to collaborate with sales on revenue recognition, work with operations on cost accounting, or partner with IT on system implementations.
Understanding these cross-functional relationships helps you evaluate soft skills during interviews and sets realistic expectations about communication requirements.
7. What’s our realistic timeline for finding the right person?
Good finance professionals are in high demand, like, really high demand. The average time to fill a senior finance role is now 89 days, and that’s if you’re moving quickly. Rushing your hiring process often means settling for suboptimal candidates or losing great ones to competitors who move faster.
Be brutally honest about your timeline constraints. If you need someone to start immediately, you might need to adjust your requirements or consider interim solutions while conducting a thorough search for permanent hire.
8. What growth opportunities can we offer?
Top finance talent wants career progression, not just a paycheck. Before you post that job description, think about the development path this role could lead to.
Can this position grow into a finance manager role? Are there opportunities to lead special projects or cross-functional initiatives? Articulating growth potential helps you attract ambitious candidates who’ll invest in your organization’s success.
9. How will we onboard this person for maximum impact?
Your hiring process doesn’t end when someone accepts your offer. A structured onboarding plan ensures new hires become productive quickly and reduces early turnover.
Plan out their first month: which systems they’ll need access to, who they should meet, what training they’ll receive, and how you’ll check in on their progress. This preparation shows candidates that you’re serious about their success.
10. What would make us lose this person in year two?
Think about retention from day one. Finance professionals often leave because of limited growth opportunities, poor work-life balance, or misaligned expectations about responsibilities.
Address potential retention issues upfront. If the role requires significant overtime during certain periods, mention it in your job description. If there’s limited upward mobility, be transparent about lateral development opportunities.
Making Better Hiring Decisions
These ten questions transform how you approach finance hiring. Instead of posting generic job descriptions and hoping for the best, you’ll craft targeted roles that attract the right candidates and set clear expectations from the start.
The best CFOs I know treat hiring as a strategic investment, not an administrative task. They spend time upfront defining exactly what they need, which pays dividends in team performance, retention, and overall department effectiveness.
Your next finance hire could be the person who helps you navigate the next phase of growth, implement critical systems, or maintain compliance during rapid scaling. But only if you ask the right questions before you start looking.
Take thirty minutes to work through these questions before your next hire. Your future self and your finance team will thank you for the thoughtful approach.
Ready to upgrade your finance team? Start with question one and work your way through this checklist. The clarity you gain will transform your entire hiring process.
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