What is an Interim Finance Job?
An interim finance job is a temporary position within a finance department where the employee is responsible for filling a gap left by a permanent employee. This could be due to a variety of reasons such as maternity leave, long-term illness, resignation, or termination. Interim finance jobs can range from a few weeks to several months in duration, depending on the needs of the company.
What Usually Do in This Position?
The main responsibility of an interim finance job is to ensure the smooth running of the finance department during the absence of a permanent employee. This could include the management of accounts payable and accounts receivable, preparation of financial statements, budgeting, forecasting, and financial analysis. The interim finance specialist may also be required to train and supervise junior staff, liaise with auditors, and ensure compliance with regulatory requirements.
Top 5 Skills for Position
To excel in an interim finance job, the following skills are essential:
- Strong communication skills - this is crucial for building relationships with stakeholders and ensuring clear communication with other departments.
- Excellent attention to detail - accuracy is key when working with financial data.
- Ability to adapt quickly - interim finance specialists must be able to hit the ground running and quickly adapt to the company's systems and processes.
- Advanced Excel skills - proficiency in Excel is essential for financial analysis and reporting.
- Experience in a similar role - companies typically require candidates to have previous experience in a similar interim finance job to ensure they have the necessary skills and experience to handle the role.
How to Become this Type of Specialist
To become an interim finance specialist, a candidate typically requires a finance-related degree and several years of experience in a finance role. It is also beneficial to have experience in a similar interim finance job, as this will give the candidate the necessary skills and experience to handle the role. Additionally, candidates should keep up to date with industry trends and developments, and have a strong network of contacts in the finance industry.
Average Salary
The average salary for an interim finance specialist varies depending on factors such as location, experience, and the duration of the role. According to Glassdoor, the average salary for an interim finance specialist in the United States is $77,000 per year.
Roles and Types
Interim finance jobs can vary depending on the needs of the company. Some common roles include interim CFO, interim financial analyst, interim accountant, and interim financial controller. The types of interim finance jobs can also vary, from short-term assignments to longer-term contracts. Some companies may also offer the option of remote work for interim finance roles.
Locations with the Most Popular Jobs in the USA
Some of the locations with the most popular interim finance jobs in the USA include New York, Chicago, Los Angeles, San Francisco, and Houston. These cities are home to a large number of companies that require interim finance specialists to fill temporary gaps in their finance departments.
What are the Typical Tools?
Interim finance specialists typically use a range of tools to carry out their roles. These could include financial software such as Quickbooks or Xero, Excel spreadsheets, and other accounting and financial management tools. They may also be required to use communication tools such as Microsoft Teams, Zoom, or Skype to liaise with other departments and stakeholders.
In Conclusion
Interim finance jobs can provide a great opportunity for finance professionals looking for a flexible, temporary role. Candidates with experience in finance and strong communication and Excel skills are in high demand for these roles, and the average salary for an interim finance specialist is competitive. With the right skills and experience, an interim finance job can be a valuable addition to a finance professional's career.