Finance Officer: What is the cost of hiring?

What is a finance officer?

A finance officer is typically responsible for overseeing financial records, ensuring compliance with regulations and supporting budgeting and forecasting efforts. They help maintain financial stability and provide insights to guide decision making across your organization.

Why hire a finance officer?

Finance officers can help your business track expenses, maintain compliance and plan for future growth with clear and accurate reporting. You may need to hire one if your company is managing multiple revenue streams, preparing for audits or building a long-term financial strategy.

Contributions of a great finance officer:

• maintains accurate financial records, reports and reconciliations for compliance and transparency
• supports budget planning and expense tracking to align with organizational goals
• analyzes financial data and trends to inform strategic decisions

Defining your hiring needs for finance officers

Start by evaluating your business size, revenue complexity and reporting requirements. Do you need someone to manage daily transactions, oversee budgeting or prepare audit-ready reports? Determine whether you need a full-time, part-time or freelance hire based on workload and regulatory obligations. For smaller teams, a generalist may be ideal, while larger companies may benefit from hiring finance officers with niche specialties like grants, compliance or reporting.

What are the types of finance officers?

Finance officers can specialize in different areas depending on their industry and financial structure. Some roles focus on cash flow and payments, while others handle compliance or financial reporting.

Common types of finance officers include:

• accounts payable/receivable officer: manages vendor payments, invoicing and collections
• budget officer: oversees budget planning, monitoring and reporting
• grants finance officer: manages financial tracking and reporting for grant-funded projects
• regulatory compliance officer: ensures adherence to financial laws and audit standards
• financial reporting officer: prepares financial statements, forecasts and management reports

When writing your finance officer job description, consider including some or all of the following keywords to improve the visibility of your job posting. These are the most popular search terms leading to clicks on finance officer jobs, according to Indeed data:

• accounting
• finance
• payroll 
• bookkeeping
• finance manager
• finance officer
• accountant
• bank
• accounts payable
• cpa

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Where to find finance officers

You can find finance officers across Canada by researching local business programs, professional associations and experienced in-house staff. Consider where financial talent is already growing and build recruiting strategies around it.

To find the right finance officer for your business, consider trying out a few different recruiting strategies:

• Career fairs: Business schools and accounting programs regularly host events where finance professionals explore new opportunities.
• Professional associations: Groups like CPA Canada and the Canadian Finance & Leasing Association offer directories and events.
• College and technical programs: Humber College, SAIT and others train graduates with job-ready finance and accounting skills.
• Internal advancement: Promote experienced bookkeepers or assistants who already understand your financial processes.

Post your job online. Try posting your finance officer job on Indeed to find and attract quality candidates.

Skills to look for in a finance officer

A successful finance officer candidate will typically have the following skills and competencies, which may be gained through a variety of experiences, training or education: 

• financial reporting, including statements, reconciliations and budget tracking
• compliance and audit preparation in line with tax and regulatory standards
• attention to detail to ensure accuracy in every transaction
• data analysis to identify trends and guide planning
• strong communication to explain complex financial concepts to non-financial teams
• proficiency in tools like QuickBooks, Sage, Excel or other accounting software

Writing a finance officer job description

Now that you know the key skills, salary expectations, popular job-seeker search terms and hiring insights for a finance officer, you’re ready to write a job description.

A finance officer job description typically includes a compelling summary of the role, a detailed list of duties and responsibilities, and the required and preferred skills for the position. You may also want to include information about your company culture, benefits and perks to attract candidates to your open role.

Ready to get started? See our full guide for writing finance officer job descriptions.

Interviewing finance officer candidates

Strong candidates for finance officer positions will be confident answering questions regarding:

• experience preparing financial reports and managing budgets
• ability to ensure compliance with tax laws and audit regulations
• familiarity with accounting software and financial systems
• attention to detail and the ability to identify errors or inefficiencies
• communication and collaboration with other departments or collaborators

Need help coming up with interview questions? See our list of finance officer interview questions for examples (with sample answers).