Quick answer: Interim management in the financial sector offers companies in crisis or transition phases rapid access to experienced executives such as CFOs or controllers who can ensure stability, expertise and operational capability at short notice.
What is interim management in finance?
Interim management in finance involves the temporary deployment of experienced managers and specialists who take on operational responsibility. Unlike traditional consultants, interim managers work directly in the company, managing teams, steering projects and designing processes – often at C-level or just below.
Typical roles in interim management in finance include:
- Interim CFO / Commercial Director
- Interim Head of Controlling / Accounting
- Head of Group Accounting
- Project lead for ERP implementation / Digitization
- Specialist for M&A, carve-outs, IPOs or turnarounds
What they all have in common: Immediate availability, broad experience and the ability to quickly adapt to new corporate structures.
When is interim management in finance particularly useful?
The areas of application for interim managers in finance are diverse – especially in times of change or uncertainty:
Filling vacancies
A sudden vacancy due to illness, parental leave or a resignation at short notice can have serious consequences. Interim managers ensure continuity and strong leadership until a permanent solution is found.
Special projects & transformation
Projects such as ERP rollouts, post-merger integrations or the introduction of BI tools require project management with technical AND financial know-how. Interim managers act as an interface between IT, the specialist department and management.
Restructuring and crisis management
In times of crisis, you need a cool head, experience and implementation skills. An interim CFO works with management to develop viable restructuring concepts and takes control of all relevant measures.
Professionally supporting growth
Fast-growing medium-sized companies or scale-ups often need structured financial processes, reliable reporting and liquidity planning at short notice. In this case, interim management in the finance department provides immediate relief and professionalism.
Real world interim management success story
The following example from a project we implemented together with an experienced finance expert shows how effective interim management can be in the financial sector:
Our client, a medium-sized technology company, faced the challenge of structuring its financial processes more effectively in order to make informed decisions in an increasingly complex market environment. The interim manager took on a key role for nine months in establishing an effective controlling system, while also providing targeted coaching to the new managing director.
In a short period of time, a cost centre report was set up in the ERP system, internal allocation and calculation logic was revised, a uniform reporting structure was introduced, and liquidity planning including plan/actual analysis was created. The careful handover to the successor and the implementation of internal training courses were also particularly valuable.
The result: sustainably strengthened financial controlling with clear structures and high data quality, as well as a significant reduction in the workload for company management. This is a perfect example of how external expertise can enable both stability and progress.
Advantages of interim management in finance
Working with an interim manager has many advantages:
✅ Fast operational readiness – often within a few days
✅ Many years of experience – usually 15+ years in management roles
✅Focus on implementation – clear goal orientation, no theory
✅ External view – new impulses and honest analysis
✅ Calculable costs – clear daily rates, without long-term commitment
Particularly important: Interim managers take operational responsibility – and not only work from the outside, but actively participate in shaping the company.
Read more about why companies should rely on interim managers here.
How to find the right interim manager in finance
The success of an assignment stands and falls with the right selection. What you should look out for:
- Professional fit: Does the person have experience in exactly your scenario (e.g. IFRS conversion, PE environment, group reporting)?
- Proven track record: Previous mandates and references should be transparent.
- Personal chemistry: Interim management also requires trust and a good fit.
- Clear objectives: Mandate, time frame and goals should be set out in writing at the beginning.
Of course, the question of costs always arises when looking for an interim manager. We answer this question in our article Interim Management in Austria: These are the cost factors you should be aware of.
Strategic benefits: Interim management as a building block for modern finance organizations
Companies that use interim management in finance not just as a short-term stopgap but as a strategic tool can develop their finance function in a targeted way. Particularly in times of far-reaching change – whether due to digitalization, new regulations or entry into international markets – the specific expertise or implementation power to efficiently manage transformation processes is often lacking internally.
An experienced interim CFO or finance project manager can achieve much more than just “help out”: He or she brings best practices from other companies, fresh ideas and the ability to initiate and implement changes at short notice – without a political agenda or internal dependencies. As a result, interim managers are increasingly being used for change processes, such as setting up group-wide reporting, introducing ESG key figures or further developing working capital management.
In addition, interim management also offers the opportunity to test future managers in practice. An increasing number of companies are using a mandate for evaluation: will the person fit in the long term? In this way, interim management in finance can also become a stepping stone for a permanent position – without risk and with real added value.
Conclusion: Interim management in finance is more than an emergency solution
In a volatile business world, temporary managers in the finance department have long been strategic success factors. They close gaps, implement projects and bring stability in uncertain times.
Interim management in the finance department offers the ideal combination of flexibility, expertise and a focus on results – without long-term personnel costs. Those who see interim management as a strategic lever secure competitive advantages in an increasingly complex business world.
Updated on 29.07.2025
FAQ - Frequently asked questions
What is interim management in finance?
Interim management in finance involves the temporary deployment of external experts, such as CFOs, heads of controlling, or accounting managers, to bridge short-term vacancies or support companies undergoing transformation.
In what situations is an interim CFO or interim controller worthwhile?
An interim CFO or controller is particularly useful when quick action is required, e.g., in the case of restructuring, M&As, sudden absences of executives, or to bridge the gap until a key position is filled.
How quickly is an interim manager in the financial sector available?
Interim managers in the finance sector can usually start within a few days, as they are contractually and operationally ready to work at short notice.
How long does a typical interim assignment in the finance sector last?
The duration varies depending on requirements, but is usually between 3 and 12 months – depending on the scope of the project, the phase of the company, and succession arrangements.
