The role of a finance manager is two-fold: managing financial operations and advising upper management. Depending on the organization, other tasks such as business planning and overseeing investments may also be involved. They’ll need considerable skills in reporting and budgeting, data analysis, and daily financial operations.
Generally, candidates will have a degree in finance, economics, or accounting. The right person will also have excellent industry experience and knowledge. Any previous position as a financial officer or manager is an advantage because that experience can be useful due to the many specialized procedures and regulations involved.
To recruit executive-level candidates consider working with a professional recruitment agency to help you find the perfect employee. They’ll pull candidates from their top-notch resources, and won’t waste any time with unqualified individuals.
The right agency will also help you through the entire hiring process, including the interview. It’s essential to look for attributes such as critical thinking, an analytical mind, organization, and leadership abilities. Math skills and attention to detail are equally important.
Take a look at these technical questions that may be useful for you and your colleagues to assess the depth of a candidate’s expertise to see if they’re the right fit for the job. Present each candidate with scenarios and discuss his or her experience concerning each situation. Assign bonus points to the candidates who are familiar with industry trends and challenges.
Situational and Operational Questions
- How do you manage multiple priorities?
- If upper management asks you to tell them whether the company should continue to offer a product or service, how would you go about it?
- How would you handle a subordinate making a substantial error?
- How would you resolve a conflict between two accountants you supervise?
For each question, the best candidate will discuss these situations in relation to previous positions to demonstrate that he or she has the necessary proven experience. Or, if the individual hasn’t been in the exact circumstance, they’ll devise the perfect theoretical conflict-resolution answer.
Role-specific questions are designed to determine if a candidate has the knowledge and skills required to perform the job well. You’re looking for demonstrated experience and a wealth of knowledge.
Consider questions such as:
- What kind of financial reports would upper management need, and why?
- How do you calculate and interpret ROI?
- What are the key elements to look for when evaluating the company’s investments?
- Do you consider a cash flow statement to be enough to tell whether a company is doing well?
- How do you reward initiative, teamwork, and innovation?
The role of a finance manager is complex and often challenging. You’ll want to find someone who isn’t only knowledgeable and experienced, but also who exudes confidence and clarity. This individual will be decisive and exceptionally organized. If you notice any floundering answers, or if they seem at all hesitant, you might want to politely let that person know that you’re moving forward with another candidate.
Hiring a new finance manager is exciting! Avoid any unnecessary stressful scenario by hiring the wrong candidate. Work with a professional recruitment agency to ensure that you ask the right questions to get the answers you need.