Interim managers in the finance sector: a rescue in times of need or a strategic advantage?

The CFO position is unexpectedly vacant. The year-end closing is imminent, investors expect precise figures, and regulatory deadlines are drawing relentlessly closer. It is in precisely such situations that the value of an interim manager becomes apparent. Companies that rely on these experts avoid costly bottlenecks and gain access to valuable expertise at short notice – expertise that would otherwise require time-consuming recruitment processes to replace. But when is the use of an interim manager truly worthwhile – and what should companies look for when selecting one?

Which roles can be filled on an interim basis?

"Interim managers in finance take on a wide range of responsibilities, from operational specialist roles in accounting and controlling to senior leadership positions such as CFO," explains Thomas Krentscher, Principal for Interim Management at Robert Walters. “Senior Accountant and Senior Controller roles are particularly in demand, as well as Finance and Tax Managers. But leadership professionals overseeing these functions are also frequently brought in on a temporary basis.”

Why is interim management so popular in finance?

Regulatory requirements in the financial sector leave little room for staffing shortfalls. “In accounting, there are strict deadlines that must be met. A vacant role can quickly lead to significant issues,” Krentscher stresses.

Moreover, finance departments are often at the heart of business-critical decisions. “Especially in cases of changes in shareholder structures, it’s essential to have someone on board who has experience in comparable situations and understands the underlying dynamics,” adds Krentscher.

When does hiring an interim manager make particular sense?

Interim managers do not only provide short-term relief in day-to-day operations – they also play a key role in strategic projects. “In areas such as mergers and acquisitions (M&A), the focus lies on evaluating and managing risk,” Krentscher explains. “For companies that rarely face such situations, the expertise of a seasoned professional who has overseen similar decision-making processes multiple times is a real asset.”

What qualifications are crucial?

“Interim managers must not only possess in-depth technical expertise, but also demonstrable experience in hands-on implementation,” says Krentscher. The requirements are wide-ranging – from strong system and process knowledge to specialised skills, such as preparing restructuring assessments. In addition, interim professionals must stay up to date with the latest regulatory developments. Only then can they effectively guide companies through complex transformation processes and respond to their specific challenges.

How to find the right interim manager

Selection should be strategic: “It’s important for companies to clearly define their requirements and work with a specialised partner for the search,” advises Krentscher. “A reliable partner will present three to five suitable and available candidates within a week – all of whom are genuinely interested in the assignment.”

Interim managers can therefore be a valuable solution – whether to bridge vacancies or to support with strategic challenges. A targeted approach enables companies to maintain stability and efficiency, even in times of change.

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