Do You Actually Need a CFO? Instead, Hire for the Problem with Tom Hunter

The most expensive finance hire can be the one that looks senior enough to feel safe but solves the wrong problem.

Tom Hunter of Story Recruitment joins FP&A Today to explain why the first finance hire at a startup is often not a CFO. Story Recruitment focuses on first-CFO and first-finance-hire searches for Australian tech, fintech and deeptech startups, and Tom also hosts The CFO Track Podcast. His starting point is simple: before choosing a title, define the financial problem the business actually needs someone to solve.

That often means building the basics first. Tom describes financial controls, governance and reliable reporting as the foundation that FP&A and strategy have to sit on. He also shares an example of a founder who included GST in ARR, overstating revenue and contributing to a chain of due-diligence concerns that ultimately cost the company its lead investor. For growing businesses, the finance function itself becomes a signal of how organized and decision-ready the company really is.

The back half of the conversation looks at how the finance skill set is changing. As AI and better tooling reduce the moat around some technical work, communication, commercial judgment, project management and the ability to influence better decisions become more valuable. Tom argues that finance professionals should not see themselves as ticket takers or back-office support. The strongest finance people operate as commercial enablers who understand the problem, explain the numbers and help move the business forward.

Key Moments

Build the foundation before the forecast. Controls, governance and reliable reporting need to be in place before FP&A can confidently layer forecasting and strategy on top.

The first finance hire is usually not a CFO. A Controller, Head of Finance, VP Finance or fractional leader may be a better fit depending on the company’s stage, scale and complexity.

Investors judge the finance function as a signal. Clean models, trustworthy reporting and an organized data room can influence how investors perceive the broader business.

Write the job around the problem. Rank the financial challenges the business needs solved, then build the role and job description around those priorities rather than around a prestige title.

Candidates need to prove outcomes. The strongest finance candidates can explain what problem they faced, how they approached it and what changed as a result.

Communication is becoming more valuable. As AI and tooling take on m