Why your senior Finance Contractor should have significant commercial experience

Introduction 

There are many reasons why your business might require a senior Finance Contractor, some of which are to: 

• Fill a resource gap in your senior Finance Team, fast. 

• Have access to a senior Finance resource with the skills and experience required when you need it, without having to commit to a permanent role. 

• Increase your capability or work through a transition. 

• Tackle a project with a finance expert. 

You have recognised the need for higher level Finance skills and experience in your business and are committed to engaging a senior Finance Contractor to meet this need. 

Why your senior Finance Contractor should have significant commercial experience? 

To maximise the return on your material investment in a senior Finance Contractor, you need them to: 

• Hit the ground running. 

Having built a career as a senior Finance Contractor working in many businesses across multiple industries, often without a meaningful or any handover or induction process, they will have confidence in their skills and experience to very quickly understand the business’ culture, how it operates and what its critical success factors are. In short, they will get on with the job from Day 1 with minimal supervision or support. 

• Work effectively with you and/or your Management Team. 

A senior Finance Contractor will have worked as a key member of Management Teams in many businesses across multiple industries. They will have proven success in making a valuable contribution in helping the business address issues, counter challenges and take advantage of market opportunities. 

• Leading the in-house Finance Team. 

In every business a senior Finance Contractor has worked in, there will have been a requirement for them to assess the level and capabilities of the in-house Finance Team and provide the required level of mentoring, direction and support to them to maximise their potential and deliver the required outcomes of their roles. 

The senior Finance Contractor should, in short, be an effective change agent with a reputation for being a safe, trustworthy, and respectful “pair of hands” within which to entrust one’s business. 

Potential pitfalls and risks to watch out for in engaging your senior Finance Contractor 

Be wary of the following pitfalls in selecting the senior Finance Contractor to join your business: 

• A Finance contractor with a long career in a Chartered Accountancy firm which has the primary focus of providing financial and accounting expertise (typically services such as auditing, tax consultancy, financial planning, and compliance reporting) to businesses and individuals. 

They may not have sufficient skills and experience in providing the required accounting, analysis and management reporting support to businesses and be capable of working under the required urgency and “coal face” issues faced in the business. 

• A sole Finance contractor. 

There is no contingency or back-up plan in the event this sole contractor isn’t up to the requirements of the role or is unable to continue in the role for an unforeseen reason. 

• A Finance contractor who is between permanent employment roles and is looking for contract work until the right permanent role comes along. 

They may have the skills and experience but might not have either the personality or mindset to work the way a senior Finance Contractor needs to or 100% focus on delivering the required outcomes for the business. 

Why Management Response is a great option for your senior Finance Contractor 

Management Response Limited’s Directors and Associates all have more than 30+ years’ experience in senior commercial Finance roles and are career contractors.  

We’re not recruiters … our directors are finance professionals which gives them a unique ability to quickly understand your needs and match you with the right professional. Once they have found your match, they don’t just bid you farewell. They stay involved for the duration of the engagement to ensure a successful outcome through: 

• Managing the client engagement with you. 

• Providing mentoring and support to the Finance Contractor. 

• Providing continuity in the event of a short-term absence, or in the unlikely event a replacement is required. 

Give Management Response Limited a call for a free, no obligation discussion. They will happily help you confirm the Finance Contractor you need and be able to match your requirements against their pool of senior Finance Contractors to give you some options for an immediate start. Contact us now to get started!