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Stepping into the role of an interim CFO is not just about crunching numbers; it’s about navigating complexity, providing strategic clarity, and becoming a critical advisor. Whether tackling crises or driving organizational transitions, interim CFOs wield influence far beyond traditional financial oversight.

More directly stated, “You need to have the right CFO with the right skills at the right time,” shared FLG Partner and Chief Financial Officer Anne Samak de la Cerda.

Anne was recently featured on The Growth-Minded CFO, a podcast powered by Upflow. Interviewed by Alex Louisy and Lauren Pearl, Anne shares her journey to becoming a fractional CFO, how she accomplishes her work, and lessons learned about leadership.

First, let’s examine why there’s such a boom in the interim CFO market.

Why Interim CFOs Are in High Demand 

Companies at transitional or high-growth stages often face one common challenge: they require financial expertise but can’t afford or don’t need a full-time CFO. Enter interim CFOs, equipped to offer strategic solutions in situations ranging from IPOs to mergers and crisis recovery.

Here’s the data:

Moreover, companies of every size, industry, and stage are hopping on the interim CFO train. For example:

  • Startups Scaling Up: Startups moving beyond Series A often need someone who can strategize on their fundraising, optimize burn rates, and implement robust financial systems.
  • Established Companies in Crisis: Later-stage companies facing M&A or IPO challenges, uncertainty around tariffs, or loss of investor trust turn to interim CFOs to drive stability.
  • Industry Evolution: Technologies like AI, automation, and SaaS have expanded the strategic scope of the CFO role, making it more appealing to bring external expertise in on a temporary basis for specialized coaching.
  • Global Expansion: While interim CFOs are already popular in the U.S., Anne predicts their rise in Europe and Asia. “Businesses are realizing the value interim CFOs bring during transitions, and there’s huge untapped potential globally,” she shares.

How to Become an Interim CFO 

The path to becoming an interim CFO often follows years of honing your craft within full-time CFO or senior finance roles. FLG Partners, for example, requires all its potential Partner candidates to have significant Chief Financial Officer credentials before entering an interview scenario.

“My journey to becoming a fractional CFO was not a planned one. It came out of a crazy, pivotal experience,” shares Anne. In addition to that experience, Anne also credits the book Designing Your Life by Bill Burnett and Dave Evans for nudging her to test out her skills.

Anne and her hosts share additional traits and abilities for those interested in exploring a career as an interim CFO:

Build Core Finance Expertise
Impeccable financial expertise lies at the heart of every CFO’s role. Experience in forecasting, compliance, tax regulations, and cash flow management forms the bedrock of your toolkit. Know your numbers, and proudly share how you impacted the organizations you’ve worked with.

Cultivate Leadership and Crisis Management Skills
An interim CFO shoulders leadership responsibility in situations where emotions may run high. Confidence, clear communication, and the ability to calm chaotic situations distinguish outstanding temporary leaders.

Anne highlighted a key lesson learned during an acquisition process while acting as an interim CFO: “You can’t effectively lead distressed companies if you can’t remain calm under pressure and refocus teams toward solutions.”

Be Versatile and Adaptable
The interim CFO role varies widely depending on the nature of the organization’s challenges. While one company might require immediate restructuring, another may need a visionary roadmap to ensure sustainable growth. Having a broad skillset makes you versatile enough to address varying expectations.

Keep in mind that an interim CFO’s ability to hit the ground running is critical. Unlike full-time CFOs, they don’t have the luxury of elaborate listening tours or a slow onboarding phase. They must make an impact quickly.

Build and Leverage Your Network
Clients often find interim CFOs through referrals, making it critical to stay connected to industry peers, board members, and venture capital contacts.

Aspiring interim CFOs should focus on forging and maintaining high-quality networks. Co-host Lauren shares, “Whether for finding new assignments or brainstorming complex challenges, the strength of your network is just as important as your financial skills.”

Leadership Lessons Gained Along the Way 

Every interim CFO learns valuable leadership lessons throughout their tenure. Here are some key insights shared by interim CFOs who’ve been in the trenches.

Leadership Means Listening First
“Your role isn’t to immediately rework everything,” says Anne. “First, understand the team, its strengths and gaps. Only then can you begin driving meaningful change.”

Transparency Builds Trust
Late-stage CFOs often enter situations when board trust has eroded. Earning this trust back means full transparency, no matter how grim the financial picture may be.

The Soft Skills Matter More Than You Think
“Teaching and coaching make a far bigger difference in early-stage roles than people realize. At that stage, you’re ensuring your founders can carry the long-term financial vision forward, even after you’ve left,” Lauren remarks.

Success Is About Sustainable Transitions
An interim CFO’s mission isn’t complete until the right infrastructure or leadership is left in place. Whether that’s through hiring a full-time CFO replacement or restructuring teams for autonomy, aim to set your organization up for enduring success.

Your Next Step Toward Becoming an Interim CFO 

If you’re ready to step into an interim CFO role, focus on broadening your network, sharpening your strategic skills, and fostering resilience under pressure. Seek mentorship, immerse yourself in modern technologies, and continuously learn from peers.

Interested in hiring a CFO? Review this article, “CEO Advice: How to Select the Right Interim CFO,” or connect with FLG Partners to learn more.

Be sure to watch Anne’s interview or listen to the podcast.

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