Acting CFO: How to Turn a Temporary Role Into the Job

The CFO has resigned. The CEO calls you in and asks you to act in the role while they find a replacement.

For many Group Financial Controllers, Deputy CFOs and Heads of Finance, this is the moment they have been waiting for. A chance to do the job, show the board what they can do and make the case for the permanent role.

It is also a test. The board and CEO are watching closely. Some acting CFOs use the time well and get the job. Others keep the seat warm and watch an external candidate take it.

This article covers what the board and CEO are watching for, the first 30 days, which decisions to make and which to hold, how to make your case and what to do if they hire someone else.

What the board and CEO are watching for

When you act as CFO, the board and CEO are asking:

• Can this person handle the full role, not just the parts they already did?

• Will they keep things steady during the change?

• Do they bring their own view, or just continue the old one?

• How do they handle the board?

• Can they lead the people who used to be their peers?

• Do they look like a CFO?

They may not say this out loud. But every board meeting, every conversation and every decision is part of the assessment.

The first 30 days: steady, then visible

Week one: stability. Make sure nothing slips. Month end, cash, payroll, lenders and the audit. Tell your team what is happening and what you need from them. Meet the CEO to agree priorities and how often you will meet.

Weeks two and three: cover the gaps. Get across the areas you did not run before. FP&A, treasury, tax, investor relations. Meet the leaders of each. Ask what is coming up.

Week four: become visible. Brief the chair and audit committee chair. Present at the board meeting with confidence. Share one or two clear priorities for the acting period.

The aim is simple: first show you can keep the business safe, then show you can lead.

Decisions to make and decisions to hold

Acting CFOs often worry about how far they can go. Agree this with the CEO early.

Decisions to make:

• Day-to-day finance decisions

• Fixing problems that cannot wait

• Small team changes that are clearly needed

• Board papers and recommendations within your scope

Decisions to hold, or make only with clear support:

• Major restructures of the finance team

• Large funding or refinancing decisions

• Long-term commitments that bind the next CFO

• Changes to strategy

Holding back on big decisions is not weakness. It shows judgement. But do not freeze. Boards want to see you lead, not wait.

Leading former peers

You may now lead people who were your peers last month, including the Head of FP&A or the Treasurer. Be clear and fair. Talk to each of them early. Acknowledge the change and ask for their support. Avoid favourites. See leading former peers in finance.

Making your case for the permanent role

If you want the job, say so. Many acting CFOs assume the board knows. Do not assume.

Tell the CEO clearly, early in the acting period. Ask what you would need to show. Then show it.

Practical steps:

• Deliver one or two visible results during the acting period

• Bring a clear view of the next priorities for finance

• Build relationships with directors, especially the chair and audit committee chair

• Prepare a short plan for your first year as permanent CFO

• Engage fully with any external search

See internal executive interviews for promotion.

If they hire externally

It happens often. The board may want someone with different experience, a bigger track record or a fresh view.

If it happens:

• Ask for honest feedback

• Support the new CFO through the handover

• Decide calmly whether to stay or move

• Use the acting experience as a strong point on your resume

Many acting CFOs who miss out go on to become CFOs elsewhere within a year or two, because the acting role gave them the experience boards look for.

Writing the acting role on your resume

Acting CFO experience is valuable. Show it clearly.

Example:

Acting CFO, Harbourline Logistics (March to October 2026)

Acting CFO reporting to the CEO and board during the search for a permanent CFO. Accountable for finance, treasury, tax and investor relations for a $650 million listed group. Led 45 people.

Key achievements

• Delivered half-year results on schedule with a clean auditor review.

• Renewed $120 million in bank facilities on the same terms.

• Presented to the board and audit committee at four meetings.

Group Financial Controller, Harbourline Logistics (2021 to present)

Keep your substantive role as the main entry and the acting role as a clear separate line or sub-entry. See multiple roles at the same company.

Your profile

If you have acted as CFO, put it in your profile. “Group Financial Controller with seven months as Acting CFO of a $650 million listed group, including half-year results, a bank refinancing and regular board presentations.”

That one line changes how search consultants see you.

Common mistakes

• Treating the acting role as caretaking

• Making big changes without the CEO’s support

• Not telling the CEO you want the job

• Neglecting the board relationship

• Letting your old role slip because you are covering the new one

How search consultants view acting CFOs

When I was in executive search, an acting CFO period often moved a candidate from the longlist to the shortlist for CFO roles elsewhere. Boards liked seeing that someone had already sat in the seat, presented to directors and handled the pressure. It reduced the risk of hiring a first-time CFO.

A quick self-check

At the end of each acting month, ask: what did I deliver, what did the board see me do and what would I do differently? Keep notes. They become your resume lines and your interview stories.

Your LinkedIn

Add the acting role to your LinkedIn experience once it is public. Search consultants watch for these changes and often reach out to strong acting CFOs.

Looking after your old role

One of the biggest risks in an acting role is that your substantive job slips. If you were the Group Financial Controller, someone needs to cover that work. Agree early who steps up into your old role, even temporarily. It gives a team member a development chance and stops month end or the audit from suffering while you focus on the bigger job.

If your old role suffers, the board will notice. It can undermine the case you are trying to make.

Your relationship with the CEO

The CEO is your most important relationship in the acting period. Meet weekly. Ask what they need. Share your view on the business honestly. A CEO who sees you as a real partner is far more likely to back you for the permanent role than one who sees you as a placeholder.

Your next step

If you are acting CFO now, write down your three priorities for the acting period and share them with the CEO this week. If you want the role, tell them.

If you want help positioning your acting experience for your next CFO role, my CFO resume writing is built for senior finance leaders across Australia and New Zealand.

If you are in an acting role and planning your next move, book a complimentary Clarity Session.