Cynthia Hoffman

“Hit the ground running.” That phrase kills more finance searches than comp gaps. The best CFOs and Controllers don’t start fast. They start smart. They assess systems, pressure test assumptions, and ask uncomfortable questions. They don’t accept process just because “that’s how it’s always been done.” If you want someone who’ll nod along and not touch a thing - hire a temp. If you want someone who’ll overhaul your close, revamp reporting, and challenge stale workflows - expect friction. Transformation doesn’t happen on Day 1. It happens because the right person asked, “Why are we doing it this way?”

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OK, Friday hiring debate here - “Does a Controller really need a CPA?” It’s one of the most common debates I see in Accounting & Finance hiring — especially inside PE-backed Portfolio companies. Some of our clients insist on it. Others say it’s outdated. Most candidates have strong opinions either way. Here’s what I’m seeing:  * Pro-CPA: - Demonstrates a rigorous technical foundation - Signals discipline, credibility, and commitment to the craft - Often correlates with stronger audit, compliance, and controls experience - Gives PE firms confidence in environments where accuracy really matters  * Anti-CPA (or ‘CPA nice to have, not required’): - Plenty of top-tier Controllers don’t have the letters — but do have the track record -Operational experience, leadership, and systems skills often outweigh certifications - The best PortCo Controllers are usually business partners, not just technical accountants - Ruling out non-CPAs can shrink your candidate pool more than you realize From my seat — after placing A&F leaders for 20+ years — there’s no universal right answer. It depends on: - The maturity of the finance function - The speed of the value-creation plan - The complexity of reporting - The strength of the existing team And ultimately… what the next 18–24 months look like for the business Sometimes a CPA is non-negotiable. Other times, it’s a nice-to-have, not a dealbreaker. So… Are we overemphasizing credentials? Or underestimating their value? Is CPA a true success predictor — or an outdated hiring filter? Curious to hear your perspective:   If you’re a hiring leader — do you require it? Why or why not?   If you’re a candidate — has CPA (or not having one) helped or hurt your career?

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𝐓𝐡𝐞 𝐂𝐨𝐧𝐭𝐫𝐨𝐥𝐥𝐞𝐫 𝐢𝐬 𝐭𝐡𝐞 𝐦𝐨𝐬𝐭 𝐔𝐍𝐃𝐄𝐑𝐑𝐀𝐓𝐄𝐃 𝐫𝐨𝐥𝐞 𝐢𝐧 𝐟𝐢𝐧𝐚𝐧𝐜𝐞. CFOs get the spotlight. FP&A drives the story. But Controllers keep the business standing. They own: • The close • The controls • The accuracy • The compliance • The reality behind the numbers When the books are clean, no one notices. When they aren’t, everyone panics. Controllers protect the foundation that strategy is built on. No solid foundation = no credible forecast. They may not always be the loudest voice in the room, but they’re often the most important one. The real question: Do we value Controllers for what they do… or only notice them when something goes wrong? 💬 Agree or disagree?

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CFO, Controller, or both? Many executives and owners struggle to determine which one they need. Here are some guide posts: CFO: - Thinks strategically - Secures financing - Improves margins - Ensures the company scales properly Controller: - Ensures accurate financial reporting - Manages compliance - Keeps costing and cashflow in check - Provides meaningful insights on past financial performance Growth often means needing both, but timing is everything. Hiring a CFO too soon might be overkill, but too late could cost millions. So do you need someone looking forward or backward? #constroller #cfo #hiring

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Why Many CFOs Miss the Mark in PE-Backed Searches I talk with a lot of CFOs looking to step into private equity–backed environments. The number one reason talented finance leaders don’t land these roles? They present themselves like a “traditional corporate CFO.” Here’s the reality: PE-backed companies need a very different type of finance leader. What sets successful candidates apart isn’t just technical expertise, it’s the ability to drive value creation under tight timelines. Where CFOs often miss the mark: - Focusing too much on reporting, not enough on value levers. PE firms expect you to move the EBITDA needle, not just close the books. - Underselling experience with speed and scale. A 3-year transformation won’t cut it; can you build and execute a plan in 100 days? - Missing the operational story. It’s not about what happened, but how you drove outcomes, pricing changes, cost takeout, working capital improvements. - Not aligning to investor priorities. Every sponsor has a thesis. If you can’t show how you’ll accelerate it, you’ll get passed over. The CFOs who win in PE searches don’t just show financial acumen; they position themselves as strategic partners in value creation. Curious: if you’re in the seat today, what’s been your biggest challenge in adapting to the PE-backed environment?

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Why ASC 105 Matters Beyond Accounting Financial statements are only as reliable as the framework behind them. ASC 105 defines the authority, hierarchy, and logic that governs all US GAAP standards. Without it, consistency, comparability, and credibility in financial reporting simply do not exist. From an executive and investor perspective, ASC 105 directly impacts: • How accounting judgments are made • How new or non-standard transactions are evaluated • How disclosures reduce risk and uncertainty • How financials can be trusted for valuation, capital allocation, and forecasting ASC 105 ensures that: ✔ Financial data reflects economic reality ✔ Reporting remains adaptable as business models evolve ✔ Stakeholders can confidently compare performance across companies and periods In complex markets, strong leadership is inseparable from GAAP literacy. If you sit at the decision-making table, ASC 105 is not optional knowledge, it is strategic infrastructure. https://lnkd.in/dhk-3iBj

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CFOs, if you want to scale, you need more than numbers. You need insight. Too many finance pros obsess over data... but ignore structure. They throw dashboards at the problem without understanding what’s really driving those numbers. Let’s fix that. Imagine a business operating with no gross margin, or worse, a negative one. What would you do about it? Some executives cling to hope, believing the situation will magically improve. Others advocate immediate shutdown. I’d say it depends on the business. But most of the time, running a negative gross margin is unsustainable. Here’s the reality: Profitability starts at the top line. In fact, during my candidate interviews, I always ask this question: “Our revenue is increasing, but gross margin is decreasing; what could be causing this?” It might sound straightforward, yet most finance candidates overlook critical insights hidden within. The number one reason finance pros fail this question is they don’t ask questions. And the first interrogation that should come to mind when you have any challenge is: what’s your definition of gross margin? While most people think it’s pretty straightforward, I’ve seen different companies with different definitions. The second step is to dissect that gross margin into its components. The third step is to understand how each of the component behaves. What are the fixed vs variables costs. You need to analyze what drives the trend and what gets impacted by the trend. We go in deep dive into this in my newsletter about gross margin analysis. Question for you: How do you analyze your data to turn them into stories that drive action? #CFO #FPandA #CFOInsight #StartegicFinance

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From Controller to CFO: How Do You Know You’re Ready? I’ve worked with so many talented Controllers who wonder if they’re ready for the next step into the CFO seat. Here’s what I often share: ✅ Think beyond the books. Can you turn numbers into strategy your company can act on? Tell the story behind the numbers. ✅ Lead beyond finance. Start collaborating with operations, sales, and other teams. Learn the business and provide operational insights. ✅ Navigate uncertainty. CFOs rarely have perfect information. Get comfortable making decisions with limited data. ✅ Build relationships. Connect with CEOs, boards, lenders, and investors now. ✅ Sharpen your communication. Practice explaining complex financial topics in plain language. Don't just keep score, provide insights. ✅ Know and close your gaps. Identify areas you need to grow FP&A, capital markets, leadership and keep learning. ✅ Seek mentors. Talk to CFOs about their journeys and what they wish they knew earlier. If you’re a Controller aspiring for a CFO role, don’t sell yourself short. It's not just about the technical skills. It's about curiosity and courage, and growing into a strategic leader. Have you made the leap from Controller to CFO? What helped you most?

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Here is the advice I am giving all of my CFO Clients today: This is not an EMPLOYERS market. It might be in IT, HR or Marketing roles, but it is most definitely not in when it comes to hiring Accounting professionals We’re in a “Job-Hugging” Market — Here’s What That Really Means Right now, especially in Accounting, they are holding on tight to the jobs they have. With continued restructuring headlines (i.e. Amazon laying off 30,000 people) across industries, people don’t want to risk being the “LOFO” hire — Last In, First Out. We are still seeing great talent out there that are passively listening … but it takes courting, not just recruiting. Here’s what I tell my clients if they want to win great candidates: **Roll Out the Red Carpet** • Let them meet the full team show them the culture at the micro level (Accounting department) + macro level (Enterprise wide) • Demonstrate exactly how Accounting is a business partner to Operations and not acting as a Police Officer • Make it crystal clear how valued the function is internally Sell the “Why People Stay?” before the “Why They Join?” • HR should walk them through benefits early • Help them picture their future there • If possible — Invite the candidate to lunch or coffee with some of the key members of the team The truth: Top candidates are getting multiple competing offers And over the last 3 months, my team has seen the highest offer turn-down rate since I joined StevenDouglas in 2014.

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If you are in accounting or tax, really even audit, there is no better return on your time investment than earning your CPA. Yes, it is extremely difficult and is likely going to take you two years of long hours studying. Getting through that struggle with those three letters after your name is where the value lies. People who have it know how hard it is and value that you were able to accomplish passing all four exams. It's not what you learned while studying; it shows you decided to do something really hard and did it successfully. You can get your CMA, EA, CIA, CISA, or other certifications because they are easier and less time-intensive, but they don't have the value of the CPA.

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My thoughts on the hiring market in Accounting and Finance within the manufacturing space. This is not an all encompassing market post. I am aware that unemployment is higher than it has been in years and there are a lot of talented people looking for work right now. This has been the most interesting market I have seen in my almost 7 years of recruiting. It is neither client driven (less jobs, more candidates) or candidate driven ( more jobs, less candidates) With the tariff situation unfolding this year a lot of manufacturers were impacted one way or another. A LOT of my clients went into hiring freezes, which impacted the first half of the year greatly. The second half of the year, hiring picked up. But candidates have started taking the reigns. Anytime there is uncertainty in the market, candidates become more hesitant to make a move. It better be a damn good one. We are in that middle ground right now where clients are still in control, but candidates are taking the control back - it makes for interesting conversations, more declined offers and more negotiating/competition to attract top talent. With that being said - scary trends that make this feel like spooky season instead of the holiday season! - A scary amount of accountants cannot perform basic excel functions. (We have had multiple clients have to let people go recently due to this) - Microsoft TEAMS is still a bear for people to figure out to use on an interview - People are starting to use AI on video interviews!!!!! This is really scary and hiring managers notice big time. 2026 has the beginning signs of being a very strong market, but I am not an economist, I am just a guy. Happy Holidays everyone! Appreciate the partnerships we have made along the way this year and continuing to build on them moving forward!

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The CFO role has evolved more in the past three years than it did in the previous decade. Ten years ago, the CFO was “the numbers guy.” Organizations insisted on a CPA to lead the department as the focus was on compliance and technical accounting. A CPA was required to apply for the role. CFO was the top of the career path for anyone in Finance. But now, many CEOs and COOs being appointed are former CFOs. Why? Because we have a view of the entire organization, and we use curiosity to bring insight, clarity, and strategy. Organizations have learned that you can leverage CPA firm partners for the technical accounting information and fill your finance team with curious, skilled analysts that can explain the numbers to investors, donors, regulators, etc. If you’re a CFO and still focused on technical accounting and compliance without adding in an equal measure of financial analysis, do the business world a favor and look for Chief Accounting Officer roles and let your current organization benefit from a curious financial expert. You’re going to see a lot more from CFOs. The ones who lean into curiosity, strategy, and true partnership will help their organizations move faster and with more confidence. The ones who stay anchored in compliance alone will fall behind because the job has outgrown that mindset. If you are not seeing your CFO act as a catalyst, you have a decision to make. You can ask them to grow into the role, support them with the right resources, or accept that it may be time for a different kind of leader. An organization cannot afford a finance function that only reports the past while the market keeps moving. If you are a CEO, COO, or board member reading this, take a fresh look at the impact your CFO is having across the business. Are you getting insight early or information late? Are you getting strategy or only scorekeeping? Are you getting a partner or a bottleneck? Your next stage of growth depends on that answer. If this raises questions about your own finance leadership needs or if you want help assessing whether your organization has the right structure for the road ahead, reach out. These conversations are where transformation starts, and 2026 is the year to elevate what Finance can do.

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Don’t promote your Finance Controller. Not yet. They might be great at managing numbers, but that doesn’t mean they are ready to lead the business. Instead, bring in a Fractional CFO for a year. Let your Controller work closely with them. Let them see how a CFO thinks, how they talk to the board, how they make business decisions. Let them grow into the role with guidance, not pressure. Then promote. When they are ready to lead like a CFO, not just act like a senior accountant. CFO2Growth

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We're a month into 2026 and I think, at least for the accounting profession in the Midwest, the tightest needle to be threaded remainder of the year will be managing workload expectations with their staff and/or not pushing them too hard (and subsequently dealing with retention issues) .... 🐶budgets remain tight so teams are being asked to do more with less. 🐶accounting folks have always been reluctant to ask for help, plus most are perfectionists, and many are unable to say no, so unless you stay ahead of all this, eventually they'll take a recruiter call (and tell you they weren't looking as they walk out the door). 🐶while more loyal than other professionals (mostly because many are averse to change by nature), they will only take so much. 🐶whether you know it or not, other departments are dumping work on the accounting team because they get stuff done, so they're stretched thin, and because they're non-confrontational, the work keeps stacking up. 🐶accounting, like payroll, only gets noticed when things don't go well, so in general they feel underappreciated. 🐶🐶my experience tells me HR folks fall into this bucket as well; the difference is that HR staffs are even more depleted and more undervalued, so 92% of HR folks are passively or actively exploring the job market.🐶🐶

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𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐀𝐜𝐮𝐦𝐞𝐧 𝐟𝐨𝐫 𝐁𝐨𝐚𝐫𝐝 𝐌𝐞𝐦𝐛𝐞𝐫𝐬: 𝐖𝐡𝐚𝐭 𝐆𝐨𝐨𝐝 𝐋𝐨𝐨𝐤𝐬 𝐋𝐢𝐤𝐞 Strong financial oversight is a core responsibility of any board—but what does good financial acumen 𝘳𝘦𝘢𝘭𝘭𝘺 look like? Contrary to popular belief, board members do not need to be accountants or CFOs. However, they need to understand how to interpret financial reports, identify trends, and ask strategic questions that connect dollars to the mission. Board members with sound financial acumen can assess whether resources are aligned with strategic goals, recognize early warning signs, and ask informed questions that drive accountability and sustainability. 𝐆𝐨𝐨𝐝 𝐟𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐨𝐯𝐞𝐫𝐬𝐢𝐠𝐡𝐭 𝐥𝐨𝐨𝐤𝐬 𝐥𝐢𝐤𝐞: • Asking, "How does this budget support the mission and long-term strategy?" • Understanding key indicators like cash flow, margins, and days of cash on hand. • Challenging assumptions in a constructive way, especially during times of uncertainty. • Recognizing when to probe deeper and when to trust mangement's expertise. • Ensuring transparency and alignment between financial performance and the mission. • Examining variances and trends over time, not just comparing against last month. • Linking financial performance to impact, not just balance sheets. Enron's downfall in the early 2000s is a well-known example of inadequate financial oversight. Despite being a high-profile company, board members admitted to not fully understanding Enron's complex financial structures. This lack of financial fluency and overreliance on management allowed significant risks to go unchallenged. The corporate collapse highlighted the need for boards to deeply probe, ask tough financial questions, and fully grasp the business model behind the balance sheet. It's not about being a finance expert. It's about understanding how the numbers connect to the mission, strategy, and long-term sustainability. Financially fluent board members can interpret financial reports, identify red flags, and ask questions that help management make well-informed, mission-aligned decisions. 𝐇𝐨𝐰 𝐢𝐬 𝐲𝐨𝐮𝐫 𝐛𝐨𝐚𝐫𝐝 𝐬𝐭𝐫𝐞𝐧𝐠𝐭𝐡𝐞𝐧𝐢𝐧𝐠 𝐢𝐭𝐬 𝐟𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐟𝐥𝐮𝐞𝐧𝐜𝐲?

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CHATGPT and Confidential information - Do you know what your team are up to? I meet with accountants daily, and a growing number of FP&A analysts and managers are dumping sensitive financial data into ChatGPT and other LLMs to produce insightful commentary in a fraction of the time it normally takes to prepare. But are your team members feeding in highly confidential information into a platform that does not secure your data? This is a huge issue. Imagine price-sensitive information being uploaded that could impact the share price of ASX-listed companies? What about deal data on M&A that is leaked into the AI sphere which could be scrapped by the opposing party? This is a pressing issue for CFOs, CTOs, CIOs. COOs and CEOs and questions and guard rails need to be put in place now to avoid the leaking of highly sensitive information. How confident are you that your most sensitive data is secure? #AI #chatgpt #confidentiality

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