Jun 17, 2025 | Insights
I Need a Financial Executive – Should I Hire a CFO or a Controller?


As the CEO, President or Owner of an emerging or middle market business, you understand how important strong financial leadership is to your success. But before you can hire the right person, you need to determine the right role. One of the most common questions we hear from business leaders is: “Do I need a CFO or a Controller?”
This is a critical distinction. Hiring the wrong role can lead to unclear expectations, missed opportunities and wasted time and resources. While both positions are essential, they serve very different purposes. A CFO and a Controller bring different skills, priorities and strategic value to a business. Understanding which role your company needs right now is the first and most important step in making the right hire.
At Vision Search Partners, we use a practical framework to guide this decision. We call it the Business Driver vs. Financial Operator approach. It helps clarify whether your greatest need is strategy and capital allocation, or internal financial infrastructure and operational discipline.
CFOs Drive the Business
Chief Financial Officers are strategic leaders focused on external stakeholders, forward-looking initiatives and driving company strategy. Their role centers on managing capital relationships, executing complex transactions and setting the financial direction of the business. Typical responsibilities include:
- Drive M&A, capital raises, investor strategy and liquidity planning
- Build financial models to support investment and strategic decision-making
- Set the financial “tone at the top” on margin goals, profitability targets and other business metrics
- Oversee cross-functional areas including HR, IT, and legal
The CFO is the architect of your financial story. They help position the business with external audiences such as investors, lenders, buyers and the board. As a strategic partner to the CEO, they bring financial rigor and insight to critical decisions.
Controllers Are Financial Operators
Controllers, by contrast, focus on the financial infrastructure that supports daily operations. They ensure the accuracy, timeliness and compliance of your financial systems and reporting processes. Their core responsibilities typically include:
- Managing accounting systems and internal controls
- Ensuring accurate and timely financial statements
- Overseeing budgeting, compliance and audit readiness
- Improving reporting and operational visibility
A strong Controller builds the financial engine that delivers reliable data that supports sound decision-making. They bring the discipline and structure needed to ensure accuracy and accountability across the organization.
To illustrate how this framework applies in practice, here are two real-world examples that demonstrate how the right financial leadership decision can directly support a company’s strategic goals.
Early-Stage SaaS Company
The client approached us looking for their first finance hire and initially assumed they needed a CFO. After a deeper assessment, it became clear they didn’t require capital markets expertise or investor-facing leadership at that stage. What they needed was financial infrastructure, including improved cash visibility and more robust reporting and systems that could scale.
We placed a Controller who now reports to the CEO and owns the internal finance function. The company has a highly engaged board with deep financial expertise, which minimized the immediate need for a true CFO.
Real Estate Investment & Development Firm
In contrast, this founder needed someone to evaluate deals, structure capital raises and represent the firm to external investors. This was not a back-office role. It was a strategic, externally focused leadership position.
We recruited a CFO who now leads the company’s capital strategy and plays a key role in acquisitions. A Controller, while critical in the background, would not have delivered the investor relationships and strategic foresight this business required.
Why This Distinction Matters
Hiring the wrong financial leader can stall growth, create confusion and lead to misaligned expectations. A CFO and a Controller bring different skill sets and serve different strategic purposes. If you blur the lines between the two, you risk under-serving critical areas of your business or over-investing in a role that is not yet needed.
At Vision Search Partners, we help emerging and middle-market companies recruit outstanding financial leaders. Our Business Driver vs. Financial Operator framework helps clarify your true need before the search begins. If you need help assessing your situation, we are ready to guide you with experience and insight.