How to Hire Finance Directors in Reno

Current Environment

For many [most] mid-large-sized organizations, the roles, and responsibilities of a director of finance differ from that of a chief financial officer (CFO), though there can be some similarities. Just like the hiring of a CFO, hiring a director of finance can seem like a daunting task and financial commitment, but having a competent and qualified individual in this role is integrally important as managing finances for companies of significant size requires a team to manage the task.

For career-oriented individuals with a passion for numbers and finance, making deliberate choices and building a strong resume can be instrumental in the process of eventually preparing an individual to meet the qualifications of a director of finance. The title may be used for a mid-level to upper management position depending on the size of the company. In smaller companies, the finance director may be included as part of the executive team.

History

The history of the field of finance and the recording and management of financial activities dates back to the dawn of civilization. While fiance has roots in scientific fields, such as statistics, economics, and mathematics, it also includes non-scientific elements that liken it to art.

As the complexity of financial instruments, transactions, stock markets, reporting requirements, and regulation has increased, the need for specialized roles in finance, including a director of finance, has grown.

How will Recruiting finance directors Help Your Company?

How will Hiring finance directors Help Your Company?

The director of finance is often viewed as the member of the leadership team who is responsible for creating a solid foundation upon which a business is successfully set up and equipped to grow.

The director of finance contributes to the attainment of the company’s business objectives by providing strategic and financial guidance to ensure that the company’s financial commitments are met and develops all necessary policies and procedures to ensure the sound financial management and control of the company’s business.

director of finance Details

Responsibilities

The director of finance needs to be a good financial analyst and a strong communicator. It helps if they have extensive senior-level accountancy experience, along with significant managerial experience, industry knowledge, and thinks strategically.

Before we get to exactly how to recruit the best director of finance in Reno here are more details about the typical responsibilities of the job.

Direct and control finance staff.
Contribute to the achievement of the company’s business objectives by providing advice and guidance on financial strategy.
Develop and control the company’s annual operating budget and financial targets.
Ensure financial and statutory regulations are complied with.
Provide financial advice and guidance to the company’s managers and staff to enable them to achieve their objectives.
Oversee the preparation of the company’s financial accounts to ensure that these are presented accurately and on time.
Develop and implement an internal audit program to ensure that the company complies with financial procedures and regulations.
Develop and maintain all necessary systems, policies, and procedures to ensure effective and efficient financial management within the company.
Monitor external contracts and services provided by suppliers to ensure that these are operating effectively and adding value.
Carry out all necessary actions to ensure that the company meets its financial and legal obligations.

Looking for another position? View other positions we place in Reno, Nevada.

Education

Most positions require a Bachelor’s degree, while many directors of finance positions require a CPA, CFA, and/or an MBA and significant experience in the financial industry (5+ years) may be able to use their years of experience to replace the degree. While candidates can complete a degree in Business Administration, Public Administration, Finance, or Accounting, a wide variety of degrees may qualify someone for the role, depending on their previous experience.

Top Schools – US News & World Report rankings.

Top Schools

University of Texas at Austin
BYU-Provo
University of Illinois at Urbana-Champaign

2019 U.S. National Data

Salary Range

finance directors in the U.S.

$68k

Low

$147k

Average

$208k

High

$122k

Average NV
Salary

$58.42

Average NV
Hourly

108k

Total finance directors Employed in the U.S.

46.5%

Men

53.5%

Women

director of finance Salary Comparison

National

Given the importance of the director of finance role, candidates can and should expect to be well compensated for the high levels of responsibility that accompany the job. As long as companies need to manage and make money, there will continue to be a place for the director of finance, especially in a mid-large-size organization.

For more detailed compensation information for directors of finance in [city-name], download our free compensation/salary report below.

Nevada

The average annual salary for finance directors in Nevada was 122k in 2019. The hourly wage averaged $58.42.

For more detailed compensation information for finance directors in Reno, download our free compensation/salary report below.

Working in Reno

Reno, Nevada, is a unique little town nestled in the Sierra Nevada mountains on the eastern border of California. It’s a short drive to the beautiful Lake Tahoe, hiking and biking trails in the Washoe Valley, and the famous ski resorts such as Squaw Valley, Heavenly Mountain Resort, and many more.

It’s a historic town. With the gold rush in full swing, the community was officially established in 1868, the same year the transcontinental railroad reached the town, and these roots have given the town a wild west feel.

Tourism, entertainment, and gaming drive the economy, but the area is also immersed in commerce, described as the place where the largest alpine lake collides with the Biggest Little City in the World.”

Here are a few things residents describe as the most positive things about Reno.

Pros

Outdoor adventure. All four seasons, there’s something to do outside in and around Reno. Skiing, hiking, boating, biking the area has it all.
Money. From the perspective of taxes, Reno is a great place to live, work, or own a business. Residents of the state of Nevada do not pay state income tax. Nevada is one of only seven states in the U.S. with no personal income tax and one of five states with no corporate income tax.
Convenience. Although the city is a little isolated from other major cities, the Reno-Tahoe International Airport is only a few miles east of downtown.
Although tourism and gaming are the economic behemoths of the area, there is also a growing focus on high-tech companies and startups. Microsoft, Apple, and Gigafactory for Tesla have set up shop in the city.
K-12 schools. The city maintains a healthy 21:1 student-teacher ratio as well, creating one of the highest-rated college readiness scores for a metro area of its size in the country.
Amtec’s recruitment and staffing services are available in Reno too.

While there are many “pros” there are also a few “cons” to working life in Reno.

Cons

Cold. The city has a high desert climate but does experience four seasons. Although the summers are warm, winter is cold and averages about 22 inches of snow per year
The city is expanding and there are some excellent healthcare, construction, tech, and teaching jobs, there’s just not the variety or quantity that you would find in larger metropolitan areas. This means salaries tend to be a little lower than larger cities in California and Nevada.
Public transportation is limited outside of the city center, so you will generally need a car to get to places outside of the city.

Reno, Nevada

Current Weather

Not your city? View other cities where we place finance directors.

Demand for finance directors in Reno

Director of finance positions will see an unusually high growth trajectory in the next 10 years. This is testimony to just how important this position is when it comes to an organization’s overall success. Positions in finance at all levels have a strong demand across many industries and types of organizations, including the public sector.

According to the BLS, the job outlook for directors of finance is projected to grow 15% from 2019-2019, much faster than the 4% average growth predicted for all jobs. However, this growth is expected to vary by industry.

Financial managers in the investment industry, cash management, and risk management are expected to stay in high demand.

The supply of candidates and demand for open positions have a direct correlation to a company's ability to hire. Download a free Supply and Demand report for finance directors in Reno, Nevada below.

How to Hire the Best finance directors

Finding and hiring the best director of finance candidates can save you money right away and well into the future.

The costs of making a bad hire are well documented. The cost can run as much as 30% of the employee's first-year earnings according to the US Department of Labor. Bad hires can cost a whopping $240,000 in expenses related to hiring, compensation, and retention per The Undercover Recruiter. 74% of companies who admit they've hired the wrong person for a position lost an average of $14,900 for each bad hire according to CareerBuilder. These statistics support our long-held position that behavioral questions are the best way to get to know your candidates and past behavior is the best indicator of future performance.

Recruiting Best Practices

The information below comes from the best practices Amtec uses for finding the highest quality candidates.

Defining the Position

When defining the role you are creating, we recommend a position profile to fully evaluate the position you are hiring for. You must decide if the engineer can work remotely or must work in Nevada. If working in Reno is essential, make sure you include that in your job posting so candidates can decide how many miles they can commute.

How to Source the Best Candidates

When you are looking to source the best quality candidates for your open positions, make sure you have done the legwork to hire an "A Player". You can do this by making sure your company's perspective is aligned with the current market, you have taken into account the job responsibilities, as well as what type of characteristics you are looking for to fit your company culture. Then proceed to write a job posting to attract high-quality candidates.

Characteristics of finance directors

Becoming a finance director requires years of preparation in terms of acquiring the necessary skills, honing these skills to mastery level in progressively responsible jobs, and demonstrating leadership and people skills at all times. In today’s fast-paced business environment, the role of the finance director requires skills in many different areas, so sourcing and hiring the right person to fill this role can ensure the financial side of your business is well managed.

How to Screen Candidates

You wrote a job posting, posted the position online, and received a lot more resumes than you’d bargained for! Next comes the enormous task of sorting through those resumes to eliminate the ones that are clearly not a good fit. Now, you have a stack of resumes for candidates who have potential. So how do you go about screening the remaining candidates?

It starts on the phone! As a recruiter, the goal of your telephone screening is to learn more about your candidates. You can confirm that they have the educational qualifications and relevant experience, but you also need to determine if they would fit into your company's culture. To make this job easier, use a system to consistently evaluate results. This way you can equally and objectively compare candidates and evaluate their "soft skills", like communication and thinking process. Download Amtec's Professional Assessment Questionnaire below to help with screening candidates.

Free Professional Assessment Questionnaire

An individually customized questionnaire that helps assess a candidate's competence with written communication skills, thinking processes, and other relevant skills.

How to Interview Candidates

At Amtec, we believe in the power of behavoral interview questions to go beyond the experience and skills listed on the candidate's resume. Although you will want to confirm in the interview that the candidate does indeed have the experience listed on their resume, your assessment needs to go much deeper than that. An interview using behavioral questions can help you determine how well the candidate will fit with your company culture.

Download Amtec's best practices on conducting super effective interviews to find the best candidates and fill your open jobs.

Behavioral Interview Guide

Get the info you need to hire the best finance directors

Free Interview Guide