VP of Finance search
A VP of Finance is either the senior finance leader below your CFO or the top finance hire at a growth-stage company before a CFO is needed. You get a search for someone who can run accounting, cash and reporting well today and grow into a larger role as you scale.
The VP of Finance role and its market
At a venture-backed company the VP of Finance is often the first senior finance hire. The role covers accounting, FP&A, cash and banking, board reporting and support on fundraising, with a small team or outside accountants. Many reports go to the CEO, and many are hired with an eye on the CFO seat. In a larger company the VP of Finance sits below the CFO and may lead finance for a business unit or run the controller and planning teams.
Candidates come from controller roles, FP&A leadership, senior audit and finance roles inside other growing companies. Searches miss when the company hires a strong accountant who cannot build a model for the board, or a planner who has never closed the books. Another common problem is a mismatch on growth stage. Someone from a large finance organization may struggle to do the work themselves in a company of a hundred people.
What sets a strong VP of Finance apart
Each of these can be tested in interview or through references before an offer.
- Hands-on range
- Ask them to explain how they last closed a month and how they last built a forecast. A strong VP of Finance can do both.
- Fundraising support
- Look for experience preparing data rooms and answering investor diligence. CEOs from those raises can confirm the detail.
- Systems built
- Ask which accounting and planning tools they put in and why. It shows how they think about scale.
- Path to CFO
- If the role may grow into CFO, test their views on capital strategy and board relationships as well as reporting.
How we assess VP of Finance candidates
Candidates meet the CEO or CFO, a board member or investor where relevant, and the leaders they would partner with, in structured interviews scored against the brief. Finalists review a set of your recent numbers or a sample board pack and talk through what they would change. References are taken from CEOs, CFOs and auditors who worked with them, on and off their list. CPA licenses and degrees are verified when the role calls for them.
What shapes VP of Finance compensation
VP of Finance pay depends on company stage, ownership and whether the role reports to the CEO or a CFO. Base salary and an annual bonus are standard. At venture-backed companies stock options or restricted stock usually make up a large part of the package; PE-backed companies may offer management equity; public companies use equity awards. If the role is set up as a future CFO, the package often reflects that. We agree the package with you before candidates are approached.
Other finance searches
Hiring a VP of Finance: common questions
How long does a VP of Finance search take?
Most VP of Finance searches take a few months from brief to accepted offer. The timeline depends on location, the stage of the company and how specialized the role is.
Should we hire a VP of Finance or a CFO?
If the main need is strong accounting, reporting and planning, a VP of Finance is often the right first hire. If you are preparing for a large raise, an IPO or a sale, a CFO with capital markets experience usually makes more sense.
Can the role be set up as CFO-in-waiting?
Yes. Say so in the brief and agree what would trigger the change, such as a funding round or reaching a certain size, so candidates can judge the opportunity fairly.
Does a VP of Finance need to be a CPA?
It helps when the role owns accounting and the audit directly. For roles focused on planning and business partnering, strong FP&A experience can matter more than the license.
Discuss your VP of Finance search
Send the title, the reporting line, the ownership of the business and when you need the person in place. We will reply to set up a call about the brief.
Prefer email? Write to info@executivesearchfirms.org.
Monday to Friday, 8am to 8pm.