Whether your organization has 100 employees and assets of $10 million, or several thousand employees and assets of $10 billion, it is critical that it find the right candidate for the position of a financial controller / comptroller. Financially speaking this is one of the most important positions within your organization and it is absolutely critical that you hire the best candidate possible to serve as your financial accounting controller.
Unfortunately this is often a task that is easier said than done. While past work experience, educational background, and professional accreditations (CPA, CFP, etc.) give you a good idea what a candidate is capable of, it is not always a guarantee that he or she will be a good fit for the job and deliver the results your organization needs.
Hiring the best accounting or financial controller requires an objective and scientifically based assessment of what role the position will play within your organization, the key accountabilities and results the job is responsible for, and most importantly the personal characteristics, traits, and skills that are predictive of success in this position.
This is a process that we describe as job benchmarking. Job benchmarking has been scientifically shown and validated to increase the odds of hiring the right employee for the job up to 75%.
After a position has been benchmarked and the make-up of an "ideal" candidate has been identified it is time to evaluate the qualified candidates for the comptroller position to see how well they really "fit" the job. This is done with the use of a highly validated pre-employment hiring assessment test that will assess the behaviors, values, and personal attributes that were identified during the job benchmarking process to be predictive of success in this incredibly important position. The better a candidate matches the profile of an ideal controller, the higher the likelihood (all else equal) he or she will prove to be a true Rainmaker in the position.
In our years of experience we have found that the best financial controller share a unique combination of Behaviors, Values, and Personal Skills that make them a good fit for the position. While every position varies to some extent from one organization to the next, these traits have been shown to be common to all top performing financial controllers.
With the use of a validated hiring profile assessment designed to determine how well a candidate fits the job you will be able to make a much more informed hiring decision that will deliver the results you need in this critical position.
To give you a better idea of what you should be looking for and measuring when you hire or promote your next comptroller we'd like to share the top behaviors, values, and personal talents we have found and verified to be common to financial controllers who provide outstanding financial results to their organizations.
Behaviors
- Organized Workplace - With the wealth of responsibility a financial controller wields within an organization it is absolutely imperative that this individual be meticulously organized. This will ensure that important data is not overlooked and that costly errors do not occur.
- Analysis of Data - The best controllers love to get lost in the mountains of data that cross their desk. They are excellent analyzers of this data and are able to identify cash flow, leveraging, and other potentially nuanced financial issues before they become major problems
- Customer Orientation - An accounting comptroller will be called on to serve numerous other departments and functions within his or her organization. For this reason it is important that the next individual you hire for this position recognize the importance of this aspect of their job and be well suited for serving the needs of others within the organization.
Values
- Traditional / Regulatory - A comptroller is responsible for compliance with all applicable governmental authorities including the Securities and Exchange Commission and the Internal Revenue Service. This individual must also answer to stock holders and board members when it comes to the responsible use of organizational resources. As a result, this individual must place value on living and working by established systems of regulation and have a high level of respect for and compliance with authorities and governing bodies.
- Utilitarian / Economic - Not surprisingly the best financial controllers keep a keen eye out for their organization's bottom line and actively seek out ways to maximize the use of company cash resources to receive the best return on investment possible.
- Theoretical - Financial and accounting regulations are ever evolving and can change rapidly (ever heard of Sarbanes-Oxley?). As a result, top performing controllers are motivated to keep abreast of the latest changes in their industry and learn as much as possible about their profession.
Personal Skills
- Self Management - Self management is a critical skill in this position. There is no one to look after this individual on a regular basis and he or she must be able to manage their time effectively to meet long term goals set by senior levels of management and their board of directors.
- Planning and Organization - The most effective financial comptrollers have a gift for both short term and long term planning. In the short term this individual will ensure that immediate cash flow needs are being met and in the long term this individual must also have a the strategic vision to ensure that projects being pursued today create long term value for the organization.
- Problem Solving - Finance controllers must be excellent creative problem solvers. When faced with revenue shortfalls, tight credit, or diminishing marketing conditions this individual must be able to come up with effective solutions to these issues that will ensure the financial stability of their organization.
- Personal Accountability - The best candidate for this position will also exhibit a high level of personal accountability. This individual will not blame others for organizational challenges, procrastinate solutions to problems, or demonstrate victim thinking. Rather the best financial controllers ask themselves what they can personally do to improve the situation and take decisive actions to solve problems.
- Results Orientation - The best controllers always have their eye on the bottom line and are focused on results. They understand the goals and objectives they are responsible for and are focused on achieving them.
Understanding the make-up of an ideal financial comptroller is only one part of hiring or promoting the best candidate for the job. To select the best controller these traits must be measured before a hiring decision is made.
For a complimentary demonstration of the powerful hiring assessments that will allow you to fill this financially impactful position with confidence Contact a Rainmaker Group team member today.
