At DRG, we’ve led over 30 finance executive searches in the past three years, placing CFOs from both the nonprofit and private sectors. Here’s what we’ve learned: a great hire starts with clarity.
Before you even write the job description, ask yourself:
Are you focusing on the right kind of experience?
Your specific funding streams might require very complex grant management and accounting, but do not dismiss someone just because they have not worked with the exact agencies you do. The best finance leaders have highly translatable skills.
A CFO from the corporate world may need more onboarding. Sometimes candidates from for-profits come with higher salary expectations and expectations of more robust and expensive systems. Do you have the runway for that kind of transition?
How complex are your finances?
Restricted vs. unrestricted funds? Earned revenue? Government grants? Cash flow challenges? Do you have multiple revenue streams? Do you need implementation of new financial and accounting systems? These are often significantly more important than size of budget. If they can handle complexity and are strong communicators, they will bring that mindset and capability to any funding environment.
Do you need strategy, operations, or both?
If the role is really just about accounting and numbers, consider making it a Controller or Director of Finance position and save some money. But if you need strategic thinking, financial planning, and accounting expertise combined with strong management and communication skills, then you are looking for a true CFO and the best are worth every dollar.
How are their people skills?
You cannot be a great CFO without working well with others. They must collaborate effectively with board committee chairs, funders, leadership teams, and staff. They must be able to translate strategy into number and numbers into stories that people can act on.
Define the role well, and you will find a CFO who is not just technically sharp but also mission-aligned, future-ready, and able to elevate everyone around them.
Need help with your next finance hire? Let’s chat: nkepler@drgtalent.com
