Our client, a Canada based energy company needed to establish a new financial control group that would better serve its significantly changing needs. With 62% of its business in Canada, the company was looking to expand internationally and was on a strong growth trajectory. The business had grown to 7 subsidiaries, including three outside Canada, with revenues of CAD655 million, and a workforce of 450 people.
The company’s finance team, composed of 25 employees, was divided into three separate divisions: Accounting & Financial Control, Cash Flow Management, and Financial Information Systems. Its Financial Control group was designed for a much smaller business, and had become inadequate for what was now a diverse group of entities operating in different markets and geographies.
While the group was producing a large amount of financial information, only a small portion of it was useful to operations. The company needed a highly experienced Group Financial Controller to establish a new financial control group with a different culture and who could implement practical financial procedures, particularly regarding the collection and analysis of financial information.
Cormis Partners Strengths
Strong processes, fast and agile team
Deep expertise in major turnkey transportation and infrastructure projects
Broad ranging and well-established international network
Robust and thorough qualification and assessment methodology successfully leveraging new technologies
For this assignment we sourced, assessed, and produced a strong shortlist of world-class internationally experienced finance talent. We placed a Group Financial Controller who, within 12 months, set up a robust financial control & information system procedure which allowed the transmission of information on a regular schedule.
Our placement was successful in establishing a uniform procedure for monitoring investments and profitability and was also quick to establish trust and credibility within the wider leadership team.