What Can An Interim Financial Manager Do For You

What Can An Interim Financial Manager Do For You ?

An Interim Financial Manager typically takes responsibility for an area of the finance function for an agreed timescale, reporting to the Board or a senior manager responsible for the finances of the business. Sometimes it can simply be to maintain an existing level of activity, but usually it is to improve a situation that's unsatisfactory for the future running of the business.

They can, for example -

Manage your finance function whilst you recruit a permanent team member.
Check the quality of your financial accounting and the accuracy of management reporting.
Assess the robustness of your business processes.
Analyse what's wrong, why it's wrong and then suggest how it can be made better.
Quantify, recommend and implement changes required,
Develop cash flow models to aid communicating with investors and stakeholders,
Introduce Applied Management Accounting Techniques,
Impartially manage review meetings to progress improvements.
Attend or organise periodic Board Meetings to communicate with top management.
Train staff in new methods at their own workstation.
Define, structure and timetable new roles.
Recruit and handover a defined role to a new incumbent.
Periodically return to check everything is working as intended.

New methods and practices can be handed on to existing staff or the interim can build a role which can be performed by a new recruitee.

- They can also just be a spare pair of hands when things get busy!

What's the process to hire one ?

What's a Business Control Consultant ?