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The president of a start-up company is planning to hire a CFO to be a part of the management team, guide the company in creating systems and handle the investment of significant cash flow. The president is hoping to find someone with experience in the petroleum or retail niches and wants an innovative candidate with good communication skills, a proactive attitude and knowledge in areas of money management and technology. Several partners will join the president in the final hiring decision.

How the search was conducted:

Due to the strategic nature of this position, much of the sourcing was conducted through networking in various groups including the Financial Executives Networking Group (FENG) and through Linkedin connections. Referrals were obtained through contact with individuals working in the finance division of petroleum and retail companies. A search was also conducted through existing databases to find qualified candidates and job boards were searched. Because it was imperative that all discussions with potential candidates were kept confidential, interviews with the president were conducted in our offices. The president and two board members interviewed each candidate. Final candidates were also reviewed by the funding company that was backing the start-up.

Based on the candidates below, who do you think should get the job?

Patel

Patel is currently working for a major retail brand and is responsible for overseeing the financing and set up for new locations throughout the United States. He describes himself as an “accomplished executive leader with more than 20 years of experience, impacting the performance of multi-million dollar organizations, operations and ventures through expertise in international banking, finance, regulatory compliance, funds management, accounting, taxation and audit control”.  He has worked in the banking industry and has also been a part of a start-up retail company which grew from 10 employees to over 350. He has earned his MBA in International Banking & Finance and a Master of Science in Taxation & Accounting.

Neal

Neal defines himself as a “highly accomplished, hands-on, financial executive with a broad range of experience in accounting, budgeting, reporting, financial analysis and business partnering”. He is currently the CFO for a start-up manufacturing company with retail locations throughout the United States. He has spent over 10 years with a major petroleum company where he was responsible for the finances of national retail locations. He also held Accountant and Sr. Analyst positions with a Fortune 500 company where he was responsible for preparing financial statements and analyzing operating results against the budget. He has earned a Masters of Business Administration with a concentration in Finance and is a Certified Public Accountant in the State of New Jersey.

Chris

Chris describes himself as an “Internationally experienced Big Four CPA/MBA and Financial/Operations Manager with strong oil and gas, development and construction management background in all phases of accounting, bank relations, investor relations, strategic planning, administration, human resources, risk management, directing, developing MIS systems and executing strategic plans to achieve company's future growth”.  Chris has spent over 10 years as the Director of Strategic Planning and Budgets for top petroleum companies. He has also spent over 10 years as a Financial Petroleum Consultant to clients in a broad spectrum of focuses. He has directed the implementation of financial systems and assisted in turnaround projects for companies with divisions performing below corporate standards. He has earned a Masters of Business Administration with a concentration in Finance and is a member of the Association of Certified Chartered Accountants.

The Association for Financial Professionals (AFP), defines itself as “the global resource and advocate for the finance profession, providing certification, products, education and training for treasury and corporate finance.”

The AFP offers a Certified Treasury Professional designation which “sets the standard in the financial profession and is a symbol of excellence. It signifies that an individual has demonstrated the knowledge and skills required to perform competently in today's complex treasury environment..." (Source: www.afponline.org ). The AFP organization tracks best practices for financial executives and offers networking and training.

FENG is a networking group for financial executives. With local chapters across the United States, this organization provides a vehicle for local individuals to meet and share ideas. (Source: www.thefeng.org )