What a chief financial officer (CFO) does
A chief financial officer sets the financial direction of the company. Beyond overseeing reporting, audit, tax and controls through the controller and finance team, the CFO shapes capital structure, leads refinancing or fundraising, evaluates acquisitions and major investments, manages relationships with banks and investors, and reports to the board. Many mid-sized companies hire their first CFO when growth, a financing, a planned sale or a family succession outpaces what a controller can carry alone.
CFO searches are rarely public. The incumbent may still be in the role, a transaction may be under discussion, or lenders and staff simply should not hear about a change too early. Finch's retainer model suits this work: a dedicated search, discreet outreach to finance leaders who are not looking, and your company name held back until you approve. We confirm CPA status with CPA Ontario or the relevant provincial body and speak with former CEOs, board chairs, auditors or lenders, with each candidate's permission.
Typical responsibilities
- Set financial strategy and long-range plans with the CEO, owners or board
- Lead capital raising, refinancing and banking relationships
- Oversee reporting, audit, tax and internal controls through the finance team
- Evaluate acquisitions, divestitures and major capital projects
- Build forecasting, cash management and performance reporting the leadership team can act on
- Manage financial risk, including interest rate, currency and liquidity exposure
Qualifications and credentials
- The CPA designation through CPA Ontario or another provincial CPA body is common; some CFOs also hold the CFA charter or an MBA
- Senior finance leadership as a CFO, VP finance or divisional finance head
- Direct experience with the event driving your search, such as a financing, sale preparation, acquisition or turnaround
- A track record of reporting to boards, investors and lenders
- Industry experience close to your business model and ownership structure
Who hires a chief financial officer (CFO)
- Owner-managed and family businesses preparing for growth or succession
- Private equity and investor-backed companies
- Technology and life sciences companies after a funding round
- Large charities and non-profit organizations
- Canadian subsidiaries of international groups
Where we recruit chief financial officer (CFO) candidates
We fill chief financial officer (CFO) roles for employers across Toronto and the GTA, including North York, Scarborough, Etobicoke, Vaughan, Markham, Richmond Hill, Mississauga, Brampton, Oakville, Burlington, Oshawa and Pickering, and for employers across Canada. GTA employers can meet us at our North York office by appointment.
What Finch checks before you meet a candidate
- Confidential references from former CEOs, board chairs, auditors or lenders, with the candidate's consent
- CPA status confirmed with CPA Ontario or the relevant provincial body
- Depth of experience in the specific transactions or challenges your company faces
- How they have built finance teams and developed successors
- How they challenge an owner or board and still keep their trust
Interview questions to ask
- Tell me about a time you told an owner or board something unwelcome about the numbers. How did you handle it?
- How did you prepare a company for a refinancing or sale, and what would you change next time?
- What will our finance function look like after your first year?