How to Hire Finance Directors in Las Vegas

Current Environment

For many [most] mid-large-sized organizations, the roles, and responsibilities of a director of finance differ from that of a chief financial officer (CFO), though there can be some similarities. Just like the hiring of a CFO, hiring a director of finance can seem like a daunting task and financial commitment, but having a competent and qualified individual in this role is integrally important as managing finances for companies of significant size requires a team to manage the task.

For career-oriented individuals with a passion for numbers and finance, making deliberate choices and building a strong resume can be instrumental in the process of eventually preparing an individual to meet the qualifications of a director of finance. The title may be used for a mid-level to upper management position depending on the size of the company. In smaller companies, the finance director may be included as part of the executive team.

History

The history of the field of finance and the recording and management of financial activities dates back to the dawn of civilization. While fiance has roots in scientific fields, such as statistics, economics, and mathematics, it also includes non-scientific elements that liken it to art.

As the complexity of financial instruments, transactions, stock markets, reporting requirements, and regulation has increased, the need for specialized roles in finance, including a director of finance, has grown.

Will COVID-19 Affect the Finance Field?

The COVID-19 pandemic has affected employment and the job market, however, the role of the director of finance has become increasingly important for companies as they look to recover from the economic challenges experienced in the past year. Currently, accounting and finance teams are focusing on accounts receivable and collections, accounts payable and disbursement management, cash flow projections and treasury management, financial reporting, and Sarbanes-Oxley and internal controls. These teams are often left by the director of finance.

As a result of the focus on COVID requirements for reporting and more, employers are increasingly seeking professionals to support day-to-day accounting needs, compliance and reporting requirements, and demands related to lending programs.

How will Recruiting finance directors Help Your Company?

How will Hiring finance directors Help Your Company?

The director of finance is often viewed as the member of the leadership team who is responsible for creating a solid foundation upon which a business is successfully set up and equipped to grow.

The director of finance contributes to the attainment of the company’s business objectives by providing strategic and financial guidance to ensure that the company’s financial commitments are met and develops all necessary policies and procedures to ensure the sound financial management and control of the company’s business.

director of finance Details

Responsibilities

The director of finance needs to be a good financial analyst and a strong communicator. It helps if they have extensive senior-level accountancy experience, along with significant managerial experience, industry knowledge, and thinks strategically.

Before we get to exactly how to recruit the best director of finance in Las Vegas here are more details about the typical responsibilities of the job.

Direct and control finance staff.
Contribute to the achievement of the company’s business objectives by providing advice and guidance on financial strategy.
Develop and control the company’s annual operating budget and financial targets.
Ensure financial and statutory regulations are complied with.
Provide financial advice and guidance to the company’s managers and staff to enable them to achieve their objectives.
Oversee the preparation of the company’s financial accounts to ensure that these are presented accurately and on time.
Develop and implement an internal audit program to ensure that the company complies with financial procedures and regulations.
Develop and maintain all necessary systems, policies, and procedures to ensure effective and efficient financial management within the company.
Monitor external contracts and services provided by suppliers to ensure that these are operating effectively and adding value.
Carry out all necessary actions to ensure that the company meets its financial and legal obligations.

Looking for another position? View other positions we place in Las Vegas, Nevada.

Education

Most positions require a Bachelor’s degree, while many directors of finance positions require a CPA, CFA, and/or an MBA and significant experience in the financial industry (5+ years) may be able to use their years of experience to replace the degree. While candidates can complete a degree in Business Administration, Public Administration, Finance, or Accounting, a wide variety of degrees may qualify someone for the role, depending on their previous experience.

Top Schools – US News & World Report rankings.

Top Schools

University of Texas at Austin
BYU-Provo
University of Illinois at Urbana-Champaign

2019 U.S. National Data

Salary Range

finance directors in the U.S.

$68k

Low

$147k

Average

$208k

High

$122k

Average NV
Salary

$58.42

Average NV
Hourly

108k

Total finance directors Employed in the U.S.

46.5%

Men

53.5%

Women

director of finance Salary Comparison

National

Given the importance of the director of finance role, candidates can and should expect to be well compensated for the high levels of responsibility that accompany the job. As long as companies need to manage and make money, there will continue to be a place for the director of finance, especially in a mid-large-size organization.

For more detailed compensation information for directors of finance in [city-name], download our free compensation/salary report below.

Nevada

The average annual salary for finance directors in Nevada was 122k in 2019. The hourly wage averaged $58.42.

For more detailed compensation information for finance directors in Las Vegas, download our free compensation/salary report below.

Working in Las Vegas

Known as the Entertainment Capital of the World, the Gambling Capital of the World, the Marriage Capital of the World, and the Neon Capital of the World, Las Vegas is an entertainment-driven town. It’s also known as the place where anything goes, and this no boundaries perception has given have given the town its reputation.

But there’s a very productive business side to the city. While driven by tourism, there are many other industries represented in the city. The city’s convention center, a massive 4.6 million-square-foot facility, and attracts business people from around the world.

Do finance directors consider the city of Las Vegas a good place to live and work? Here’s a “pros and cons” list assembled from the online comments of Las Vegas residents.

Pros

Money. From the perspective of taxes, Las Vegas is a great place to live and work (or own a business). Residents of the state of Nevada do not pay state income tax. Nevada is one of only seven states in the U.S. with no personal income tax and one of five states with no corporate income tax.
More money. Las Vegas hotel-casino operators covered roughly 45% of State General Fund revenues in 2014. This equates to residents enjoying the third lowest state and local taxes in the U.S., and super low property taxes.
Less expensive real estate. According to Redfin, the median sale price for a home in Las Vegas is $314,000, up 9.4% year-over-year. Compared to cities in California, the cost of living is lower.
The great outdoors. A Las Vegas local outlined a bunch of beautiful spots to hike or climb within an hour of the city, and many national parks are just a little further.
More common threads in the “pros” column: Good weather, no mosquitos, a good airport, and, of course, there is always somewhere to go, something to do, and something to eat.
Amtec helps build high-performance teams in Las Vegas through its recruitment and staffing services.

On the other hand, there are some common complaints about the city.

Cons

It’s hot. In the summer, the temp is often 110 degrees. Also, the desert climate means there are not the traditional four seasons.
Too many tourists. Las Vegas gets over 42 million annual visitors! People from all over the country and the world visit the city for vacation, work, and play.
No more buffets. One thing that used to be on the “pros” list for living in Las Vegas was buffets, elaborate buffets, and supremely over-the-top buffets. Sadly for buffet fans, the pandemic forced these establishments to close, and it’s not expected that many will return.

Las Vegas, Nevada

Current Weather

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Demand for finance directors in Las Vegas

Director of finance positions will see an unusually high growth trajectory in the next 10 years. This is testimony to just how important this position is when it comes to an organization’s overall success. Positions in finance at all levels have a strong demand across many industries and types of organizations, including the public sector.

According to the BLS, the job outlook for directors of finance is projected to grow 15% from 2019-2019, much faster than the 4% average growth predicted for all jobs. However, this growth is expected to vary by industry.

Financial managers in the investment industry, cash management, and risk management are expected to stay in high demand.

The supply of candidates and demand for open positions have a direct correlation to a company's ability to hire. Download a free Supply and Demand report for finance directors in Las Vegas, Nevada below.

How to Hire the Best finance directors

Finding and hiring the best director of finance candidates can save you money right away and well into the future.

The costs of making a bad hire are well documented. The cost can run as much as 30% of the employee's first-year earnings according to the US Department of Labor. Bad hires can cost a whopping $240,000 in expenses related to hiring, compensation, and retention per The Undercover Recruiter. 74% of companies who admit they've hired the wrong person for a position lost an average of $14,900 for each bad hire according to CareerBuilder. These statistics support our long-held position that behavioral questions are the best way to get to know your candidates and past behavior is the best indicator of future performance.

Recruiting Best Practices

The information below comes from the best practices Amtec uses for finding the highest quality candidates.

Defining the Position

When defining the role you are creating, we recommend a position profile to fully evaluate the position you are hiring for. You must decide if the engineer can work remotely or must work in Nevada. If working in Las Vegas is essential, make sure you include that in your job posting so candidates can decide how many miles they can commute.

How to Source the Best Candidates

When you are looking to source the best quality candidates for your open positions, make sure you have done the legwork to hire an "A Player". You can do this by making sure your company's perspective is aligned with the current market, you have taken into account the job responsibilities, as well as what type of characteristics you are looking for to fit your company culture. Then proceed to write a job posting to attract high-quality candidates.

Characteristics of finance directors

Becoming a finance director requires years of preparation in terms of acquiring the necessary skills, honing these skills to mastery level in progressively responsible jobs, and demonstrating leadership and people skills at all times. In today’s fast-paced business environment, the role of the finance director requires skills in many different areas, so sourcing and hiring the right person to fill this role can ensure the financial side of your business is well managed.

How to Screen Candidates

You wrote a job posting, posted the position online, and received a lot more resumes than you’d bargained for! Next comes the enormous task of sorting through those resumes to eliminate the ones that are clearly not a good fit. Now, you have a stack of resumes for candidates who have potential. So how do you go about screening the remaining candidates?

It starts on the phone! As a recruiter, the goal of your telephone screening is to learn more about your candidates. You can confirm that they have the educational qualifications and relevant experience, but you also need to determine if they would fit into your company's culture. To make this job easier, use a system to consistently evaluate results. This way you can equally and objectively compare candidates and evaluate their "soft skills", like communication and thinking process. Download Amtec's Professional Assessment Questionnaire below to help with screening candidates.

Free Professional Assessment Questionnaire

An individually customized questionnaire that helps assess a candidate's competence with written communication skills, thinking processes, and other relevant skills.

How to Interview Candidates

At Amtec, we believe in the power of behavoral interview questions to go beyond the experience and skills listed on the candidate's resume. Although you will want to confirm in the interview that the candidate does indeed have the experience listed on their resume, your assessment needs to go much deeper than that. An interview using behavioral questions can help you determine how well the candidate will fit with your company culture.

Download Amtec's best practices on conducting super effective interviews to find the best candidates and fill your open jobs.

Behavioral Interview Guide

Get the info you need to hire the best finance directors

Free Interview Guide