Conducting an Executive Search to Appoint a CFO Focused on Financial Resilience and Operational Excellence in Regional Healthcare
The Brief
A leading healthcare provider in regional Victoria, covering a substantial catchment area, required a Chief Financial Officer (CFO) to oversee its complex financial operations and a large support services portfolio. The organisation serves a vast population, managing extensive inpatient, emergency, and maternity services. To support its mission and enhance financial sustainability, the Board sought an accomplished CFO with a strong financial background, change management expertise, and a deep understanding of public sector funding models.
Future Leadership™ partnered with the healthcare provider to lead the search for a strategic CFO, one who could champion financial best practices, enhance financial literacy within the organisation, and drive operational improvements across departments such as Health Information Services, Procurement, and Facilities Management.
Candidate net Promote Score
Future Leadership combines truly personalised relationships with innovative technology solutions to ensure an approachable and efficient process for all our Net Promoter Score across clients, successful candidates and unsuccessful candidates is well above industry standard.
Candidates supported every year
We maintain genuine relationships with past candidates and continue to support them with leadership solutions long term, after they land their role.
Senior Women Appointed since 2002
Over half of the executive search assignments undertaken by our team have resulted in the appointment of outstanding female or LGBTQI+ leaders to high profile roles.
Candidate Retention Rate for 12 months since 2002
Our thorough briefing process and ability to engage passive candidates mean that we go to great lengths to find the right person for the role – long term!
The Process
Following an in-depth briefing with the organisation’s Executive Director of People and Culture, Future Leadership™ initiated a targeted search, focusing on candidates with a blend of healthcare, public sector, and complex funding experience. The search strategy included:
- National Candidate Sourcing: Identifying high-calibre candidates across Australia, particularly those with public health or similar sector experience.
- Media Campaign and Outreach: Utilising both online media channels and Future Leadership™’s extensive executive networks to reach prospective candidates with the desired expertise.
- Comprehensive Screening and Shortlisting: From over 100 applications, a carefully vetted shortlist was developed, prioritising candidates with strong credentials in financial leadership, managerial finance, and change management.
Future Leadership™ presented the organisation with a robust shortlist of candidates, facilitating panel interviews and reference checks to ensure alignment with the role’s strategic and operational goals.
Emerging Capabilities
Accounting Standards
Skilled in applying established accounting standards to ensure compliance, accuracy, and consistency in financial reporting.
Managerial Finance
Proficient in managing financial resources to support strategic goals, including budgeting, forecasting, and investment decisions.
Financial Statements
Experienced in preparing, interpreting, and analysing financial statements to provide insights into organisational performance.
Certified Public Accounting (CPA)
Qualified in public accounting practices, with expertise in auditing, financial reporting, and tax assessments.
Quantitative Finance
Skilled in using quantitative techniques to analyse financial data, aiding in decision-making for investments and risk management.
The Outcome
The successful candidate brought more than a decade of experience in healthcare financial management and corporate services. Their demonstrated skills in fostering team engagement and building financial literacy at both strategic and operational levels were invaluable. Key achievements during the appointment included:
- Championing Financial Best Practices: Implemented industry-standard accounting protocols, enhancing financial transparency and compliance.
- Strengthening Financial Literacy: Promoted financial awareness across departments, empowering teams to make informed decisions through education and skill-building.
- Operational Efficiency and Restructuring: Oversaw a review of procurement and facilities management to optimise resources and improve cost-effectiveness.
Feedback from the Board highlighted the CFO’s impactful role in bolstering financial resilience and aligning operations with the organisation’s commitment to community healthcare.
