- INDUSTRY: Financial services
- COMPANY SIZE: Large; +750 employees
Estimated Read Time: 3 minutes
1. Business situation
The company had acquired a non-bank lending company out of administration with negative bank covenants. The business had also not been audited for tax or compliance for two-to-three years. A full transformation was required within the business to bring all the tax audits and bank covenant reporting up to date, as well as set a target operating model across finance, credit, IT and data/insights.
A subsequent acquisition of a much larger entity meant the company needed to standardise and integrate all processes and functions.
As some customers were defaulting on loans because of COVID-19, the company needed to resource a hardship management project to refine their credit and collections processes for the new environment.
2. The solution we offered
To ensure the company would be well-resourced from a finance perspective, Robert Half experts consulted with key stakeholders in the organisation to develop and recruit for a revamped org chart and updated job descriptions.
After an extensive search of the vast talent database and professional network, Robert Half presented the client with several suitable candidates for the CFO, Accountant and Analyst roles. Consecutive (virtual) interviews were set up with the shortlisted candidates for each role, allowing the client to make clear comparisons and informed decisions on who would best meet their business needs. The recruitment process resulted in a fast turnaround with the company filling all roles within one week of initiation.
For the hardship management project, eight credit collectors, analysts and credit controllers on a contract basis were deployed within two weeks from Robert Half’s pool of readily available and pre-screened talent. Additionally, a Data Analyst was employed to help realise the company’s credit risk profile which resulted in Robert Half sourcing and placing a new Treasurer to help them understand and restructure their banking facilities.
The company required the Data Analyst to have excellent analytical skills with extensive BI knowledge – a profile that is in high demand yet challenging to find. Through a wide search of our database and other recruitment channels, Robert Half was able to fill the role within three weeks. Within one week, Robert Half also found the right candidate for the Treasurer role after conducting a nation-wide search and scheduling back-to-back interviews with our top four candidates across Sydney and Melbourne.
Robert Half also sourced a highly qualified Program Manager to conduct an extensive business standardisation review for the organisation and acquired entities. The role was successfully filled within one week.
3. Client's return on investment
With extensive experience planning and running finance activities within large companies, the CFO – supported by accountants and analysts – ensured tax audits and bank covenant reporting were up to date within a 12-month period.
The Program Manager has overseen the coordination and improvement of internal and external processes within the company and acquired entities. The entire organisation is now in line with its overall strategic direction, integrating functions such as IT, security risk and finance.
The Data Analyst has worked closely with the Chief Risk Officer to deliver better business intelligence, providing the company with a more advanced understanding of its credit risk profile in the wake of COVID-19. The combination of improved analytical and treasury talent has also resulted in the successful restructure of their banking facilities to generate growth across the newly formed organisational structure.
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