First 90 days as a Finance Director

Before First Day

 So, you just landed the job, and you are looking forward to getting started as you transition from your last employment and potential life changes. You might be a little overwhelmed as you are preparing for the transition, think of major stressors, you are likely hitting multiple ones. However, don’t overlook the importance of preparing for your new position before walking in the door.

 Some of this prep work you should have done with your interview prep. If not, check out what you should have done in this post about landing the first CFO job. You can learn a lot about an organization by doing a deep dive on its financial statements and its governance. Here are some items to work through before day 1:

 1. Research Organizational Documents:

a. Annual Audits (last three years):

Request both the audits and accompanying management letters. If the entity receives federal or state aid, include the single audit. These documents provide critical insight into: 

• Financial controls. 

• The entity’s overall financial health.

2. Financial Plans:

a. Review the annual budget and capital improvement plan. These documents reveal organizational goals and upcoming challenges.

3. Understand the Governance and Leadership:

a. governing body meetings (often available online). Pay close attention to split votes to identify:

•  How elected officials treat staff.

• Key ideological divides or contentious issues.

b. Research your direct supervisor (e.g., City Manager, CAO). Understand their priorities and vision for the organization.

 You may have accepted the role, but you should understand governance and leadership, this will likely dictate your success over the next few years.

 First 30 days

 Your initial focus should be on building relationships and understanding key issues.

 Key Activities:

1. Schedule Introductory Meetings:

a. Internal Stakeholders:

• Your Chief Administrative Officer.

• Direct reports within Finance.

• Peers on the executive team. Get out of your office and visit their operations, be proactive, they all will not reach out to you.

b. External Stakeholders:

• Auditors: Meet with external auditors to establish a relationship and discuss any prior audit findings. This helps identify focus areas for future audits.

• Your bond counsel.

• Financial Advisor: They can be key to understanding scope of the finances, economic development in the community and potential upcoming debt issuances.

2. Dive into Operations:

a. Familiarize yourself with key functions and processes within the finance department.

b. Review existing forecasts and benchmarks to assess the fiscal year’s current trajectory.

• Pro Tip: If these tools don’t exist, creating them should be a priority.

3. Identify and Surface Issues:

a. Approach this stage with curiosity and openness. Your goal is to uncover potential challenges and opportunities for improvement.

b. Channel your inner “Bring Out Your Dead” undertaker from Monty Python—ensure no issue is left unaddressed!

These priorities will be key to understanding the path you will take over the next 60 days.

 First 90

 First 90 Days

 After establishing foundational relationships and understanding during the first 30 days, the next 60 should focus on refining your strategy and building organizational buy-in.

 Key Activities:

1. Engage with Staff:

a. 1-on-1 Meetings: Meet individually with all staff members (if feasible) or conduct skip-level meetings with supervisors. These conversations help gather valuable insights and foster transparency.

Ask questions like:

1. What are your core functions (daily, monthly, quarterly, annually)?

2. How do you like to be recognized?

3. What’s one thing we should stop, start, or change?

4. What do we do well?

5. What’s disappointing?

6. How can I help you be successful?

b. Develop Goals and Strategy:

•  Identify and formalize key challenges based on insights gathered.

• Work collaboratively with your team to set specific, measurable goals.

Tie goals to KPIs for accountability.

• Ensure alignment with organizational priorities.

c. Build Buy-In:

• Engage stakeholders at all levels—from the top administrator to front-line staff.

•  Cultivate support for your vision through clear communication and collaboration.

Final Thought:

The first 90 days are foundational. Approach the role with curiosity, humility, and a clear plan for long-term success. As Peter Drucker wisely noted:

 “What gets measured gets managed.”