Finance and Accounting Leadership for Private Equity Portfolio Companies
Amy Searles — Senior Partner at hireneXus
Private equity (PE) portfolio companies operate in an environment unlike any other. The pace is fast, the expectations are high, and the margin for error is slim. Leadership in finance and accounting plays an outsized role in determining whether a portfolio company delivers on its value creation plan — or falls short.
That’s why executive search for finance leaders in private equity is really about aligning the right talent to the specific dynamics of PE-backed environments. These companies need finance leaders who are seriously proficient technically and capable of partnering with operations, communicating with investors, and thriving under aggressive growth timelines.
This is where specialized executive search firms like hireneXus come in. We understand the nuances of finance leadership within PE-backed companies, from the evolving definitions of a controller to the strategic shifts shaping financial planning and analysis (FP&A). Here’s what we know.
How finance leadership roles have changed
Finance leadership roles have evolved dramatically in the past decade, driven by both technological advancement and shifting business expectations. In private-equity-backed environments — where speed, transparency, and operational alignment are critical — these shifts are especially pronounced.
The clearest transformation has occurred within the controller function. Historically, the controller was perceived as a behind-the-scenes technician — responsible for reporting, closing the books, and ensuring compliance. Today, that’s not enough to succeed. Controllers are expected to operate as “mini CFOs,” partnering directly with operational leaders, supply chain managers, and executive teams.
This means technical proficiency falls into table stakes. What sets the most successful controllers apart is their ability to translate financial data into clear, actionable narratives for non-finance stakeholders. Technical credentials like a CPA and public accounting experience remain valuable, but the real differentiator is whether candidates can demonstrate strategic thinking, cross-functional partnership, and the ability to both lead teams and execute directly when necessary.
On the finance side — particularly in FP&A — technical expectations are expanding rapidly. Strong budgeting and forecasting capabilities are musts. Today’s top finance leaders are also expected to bring hands-on experience with data visualization tools (Power BI, Tableau, etc.) and the ability to build decision-ready dashboards that distill complex data into intuitive insights for non-finance executives. Self-driven upskilling — whether through online certifications or personal projects — increasingly differentiates top talent in hiring processes.
Finance leadership competencies in high demand
When we advise clients on defining the ideal candidate profile, we consistently emphasize five competencies that set high-impact finance leaders apart in the PE context:
- Operational partnership: Finance leaders who succeed in PE environments don’t just work within the finance silo — they embed themselves in operations, sales, and supply chains. They know how to influence peers outside of finance, build trust with operators, and translate financial data into insights that matter to the broader business.
- Tactical and strategic range: Successful finance leaders in PE portfolio companies are comfortable switching gears. One moment, they’re in the weeds fixing a broken process; the next, they’re presenting strategy options to the board. This ability to pivot between tactical execution and strategic thinking is a defining trait of top talent.
- Translation skills: Finance is its own language, but great leaders know how to translate it for others. The best finance executives can explain complex financial concepts to non-financial stakeholders — helping operations and sales teams understand how their actions impact financial outcomes.
- Data fluency: Today’s top candidates bring hands-on experience with advanced analytics and visualization tools. They know how to move beyond static reports and create dynamic dashboards that give leadership real-time visibility into performance.
- PE-specific awareness: Finally, leaders who thrive in PE environments understand the broader capital structure, investor expectations, and value creation timeline. They’re not just managing the P&L — they understand how their work fits into the firm’s strategy.
Hiring pitfalls (and how to avoid them)
Even the most sophisticated PE firms and portfolio companies make critical mistakes when hiring finance leaders. These are a couple common pitfalls we see — and how we help our clients avoid them.
1. Prioritizing credentials over capabilities
There’s a persistent over-reliance on credentials, especially the CPA license and public accounting experience. While these are valuable (and often necessary), they aren’t comprehensive indicators of leadership effectiveness. I’ve seen countless high-potential candidates who lacked a CPA but had deep operational expertise, exceptional communication skills, and the proven ability to drive change in complex environments, which are precisely the attributes needed in PE-backed companies.
Evaluate candidates’ ability to drive value in environments similar to yours. Focus first on business impact — how has the candidate driven change, partnered across functions, or improved decision-making in prior roles? Use technical credentials as a filter, not a deciding factor.
2. Misunderstanding leadership
Many hiring managers still equate leadership with the size of a candidate’s previous team. In PE-backed companies, leadership is often more about influence and getting buy-in than simply delegating to direct reports. The best finance leaders can drive change across functions, influence decisions at the executive level, and build strong relationships with teams and investors — regardless of how many direct reports they’ve had.
Ask candidates for specific examples of cross-functional leadership and how they’ve influenced decisions outside their direct reporting line. Evaluate how candidates partner with sales, HR, or IT. Ask them to articulate how finance supports those broader operational goals, and probe for communication skills to see how they explain financial concepts to non-financial audiences.
Partner with hireneXus for executive finance talent.
For nearly two decades, hireneXus has specialized in recruiting finance and accounting leaders for private equity portfolio companies. Our process goes beyond surface-level screening to uncover the candidates who truly fit the PE environment — leaders who combine technical excellence with the ability to influence across functions and deliver results under intense pressure.
In a market where the right finance leadership can mean the difference between success and failure, partnering with a search firm that understands both the technical and strategic demands of private equity is not just valuable — it’s essential.
Amy Searles is a seasoned executive search consultant and Senior Partner at hireneXus. Responsible for providing talent-advisory services with an emphasis on private equity firms, portfolio companies, and mid-market organizations, she specializes in placing talent for accounting and finance roles.