Chief Financial Officer
(CFO)

Compass Carter Osborne were appointed to source a Chief Financial Officer by Amanda Scott, representing Forest Healthcare who operate within the elderly care space. 

Reason and Purpose: 

The recruitment process for the Chief Financial Officer (CFO) of Forest Healthcare, recently acquired by private equity firm, Sculptor, was strategically designed to identify a leader capable of modernising financial processes while adapting to a dynamic private equity environment. The retiring CFO had served the organisation for many years, prompting the need for a forward-thinking successor who could navigate both traditional care provision challenges and the demands of a faster-paced, growth-oriented setting under new ownership. 

The key considerations CCO needed to address were: 

1. Financial Leadership and Strategy: The new CFO needed to demonstrate a strong track record in financial leadership, ideally within sectors experiencing transformation or growth phases. This included proficiency in financial strategy, risk management, and capital optimisation. 
2. Operational Modernisation: The elderly care provider sought a CFO who could streamline operations and introduce efficiencies, leveraging technology and best practices to enhance productivity and service delivery. 
3. Cultural Fit and Leadership: Beyond technical competence, the CFO needed to embody strong leadership qualities and align with the organisation’s values and mission in eldercare. They were expected to inspire confidence, foster collaboration, and drive a culture of continuous improvement. 

Search process / methodology: 

1. Needs Assessment and Strategy Development: The process began with a comprehensive assessment of the organisation’s financial needs post-acquisition. This informed the creation of a detailed job description and candidate profile aligned with strategic objectives. 
2. Candidate Search and Screening: Utilising both internal networks and mapping the health and social care market, a diverse pool of candidates was identified. Screening criteria included experience in healthcare or related sectors and proven success in financial modernisation. 
3. Interview and Selection: Once a long list of candidates were identified by research, Adam Carter formed a shortlist of candidates after interviewing each, diving into their knowledge and experience within finance. 
4. Assessment and Due Diligence: Finalists underwent a thorough interview process by Forest Healthcare and Sculptor to identify the candidate they selected. Background checks and reference verifications were then conducted to ensure credibility and fit.  
5. Offer and Onboarding: The selected CFO received a competitive offer reflecting market standards and incentives tied to performance metrics aligned with strategic goals. 

Outcome:  

The successful recruitment of the new CFO resulted in immediate positive impacts on the organisation’s financial health and operational efficiency. The CFO brought innovative strategies to streamline financial processes, enhance reporting transparency, and implement cost-effective measures.