Strengthening finance as demands increase
Lessons from a pre-FID search
For a listed mining developer, demands on the finance function can often grow significantly
before FID or construction. Reporting complexity, heightened stakeholder scrutiny, and the
need for stronger controls can place growing pressure on a lean finance team.
Growth in reporting requirements created the need for the hire
The company was listed, and its reporting requirements were increasing as they moved from halfyearly to quarterly reporting. The CFO needed a capable number two who could take greater ownership of the finance function while strengthening reporting, controls and overall delivery.
The appointment was therefore not simply about relieving workload. It was about developing a finance function capable of supporting the company through its next phase.
Risk-versus-reward
The pre-FID status was one of the most significant considerations for candidates. They
wanted to understand:
- The company’s funding position and development pathway.
- The credibility of the asset and leadership team.
- Whether the compensation and career opportunity justified the perceived risk.
The lesson is that companies cannot assume an attractive project will sell itself. Candidates need enough information to make a considered risk-versusreward assessment.
Clear communication helped establish credibility
Transparency was critical throughout the process. Candidates were given a clear picture of the company, project and opportunity.
The CFO was also prepared for detailed questions around funding, timelines and the
company’s route forward. That meant candidates received confident, consistent
answers rather than vague reassurance.
The company’s existing marketing helped considerably. High-quality investor materials and readily available CEO and CFO interviews online allowed candidates to research the leadership team, hear the investment case directly and build confidence independently.
A credible public profile can materially influence how candidates assess an opportunity.
An unstructured environment divided the candidate market
The relative lack of structure was a negative for some candidates. Those accustomed to established systems, defined responsibilities and larger teams were less comfortable
with the ambiguity.
For others, it was one of the role’s biggest attractions. They saw an opportunity to:
- Build processes and introduce structure.
- Take genuine accountability for outcomes.
- Work closely with the CFO.
This reinforces that the objective was not to make the opportunity appeal to everyone. It was to identify candidates whose motivations matched the company’s environment.
Career development was a key part of the proposition
The opportunity offered more than an immediate job move. Candidates could
gain broader exposure, work directly with senior leadership and develop alongside the company.
The role provided the potential to:
- Become a trusted partner to the CFO.
- Gain exposure to development-stage challenges.
- Progress as the company approached future milestones
For candidates willing to accept development-stage risk, this growth opportunity
formed an important part of the reward.
Process management became decisive at the final stage
Two final-stage candidates had competing offers, so the quality and pace of the recruitment process became critical. The factors that helped maintain momentum were:
- Clear and regular communication.
- Transparency around timelines and next steps.
- Keeping the CFO engaged and accessible.
- Addressing candidate concerns directly.
- Presenting a competitive and appropriately structured compensation package.
- Reinforcing the career opportunity throughout the closing stages.
The broader lesson is that identifying the right candidate is only part of the search. In a competitive market, delays or unclear communication can undo the work completed
earlier in the process.
