PE RECRUITING

In today’s private equity environment, Controllers are expected to contribute beyond traditional accounting responsibilities. The most successful Controllers help drive value creation through operational insight, process improvement, technology enablement, and strategic decision support. PE recruiting firms specialize in attracting these types of candidates.

While technical accounting expertise remains the foundation of the Traditional Controller role, many PE-backed companies now develop Modern Controllers who expand beyond reporting to provide greater visibility into business performance, support decision-making, and build the broader skill set required of Finance Leaders and Future CFOs.

From a PE recruiting perspective, as portfolio companies continue to pursue acquisitions, implement new systems, and prepare for future exits, the role of the Controller has evolved significantly. The most successful Controllers do more than manage the monthly close process. They serve as strategic partners who help improve processes, strengthen reporting, and support long-term value creation.

While every organization has different needs, the strongest Controllers in private equity-backed companies often share several key traits. Below are five skills that separate a Traditional Controller from a Modern Controller, and ultimately from those who evolve into Finance Leaders and Future CFOs in sponsor-backed environments.

1. 1. Operational Mindset Beyond Accounting
      Strong Controllers are rooted in accurate reporting and accounting execution, but in private equity-backed environments, the expectation often extends further.In PE-backed environments, Traditional Controllers focus on reporting and close accuracy, while Modern Controllers begin to develop a deeper understanding of operational drivers that influence performance.As portfolio companies focus on growth and value creation, Controllers need to understand the factors that impact business performance.

      This includes understanding factors such as pricing and margins, working capital management, operational performance, KPIs, and how business decisions impact cash flow. Understanding how these areas connect helps finance leaders provide valuable insights that support better decision-making across the organization.

      Controllers who connect financial data to operational performance often become trusted partners to executive leadership and ownership groups. In PE recruiting, the ability to understand both the numbers and the business makes a significant difference in helping organizations support growth and long-term success. Check out what Ernst & Young (EY) had to say about value creation.

   2. Ability to Lead Through Change and Integration
      Change is a common part of life in many private equity-backed companies. Acquisitions, ERP implementations, restructuring initiatives, leadership changes, and periods of rapid growth create both opportunities and challenges for an organization. According to Boston Consulting Group (BCG), ”In short, PMI (Post Merger Integration) is one of the most challenging initiatives that a senior executive will ever undertake.”

      Modern Controllers and emerging Finance Leaders often play an important role in helping companies navigate these transitions. Whether it is integrating a newly acquired business, improving reporting processes, implementing new systems, or strengthening internal controls, Controllers are frequently involved in initiatives that impact multiple areas of the organization.

      In more advanced Finance Leader and Future CFO roles, these responsibilities extend into M&A execution, capital structure considerations, and preparing the business for eventual exit.

      These situations often require more than technical accounting expertise. Finance leaders must be adaptable, communicate effectively, and help teams stay focused as processes and priorities evolve. Their ability to manage change have a significant impact on how smoothly new initiatives are implemented and how quickly organizations realize the benefits of those efforts.

      In private equity-backed environments, companies are often expected to move quickly. As a PE recruiting firm, controllers who successfully lead through change are often viewed as Future Finance Leaders.

   3. Strong Communication with Both Operations and Ownership
      As Controllers evolve into Modern Controllers and Finance Leaders, communication becomes increasingly focused on influencing decisions rather than simply reporting results.

      One of the most important skills for a Controller in a private equity-backed company is the ability to communicate effectively with different groups across the organization. Finance leaders often work closely with accounting teams, operational leaders, executive management, lenders, auditors, and ownership groups, all of whom rely on financial information to make decisions.

      Because these groups often have different priorities and levels of financial expertise, strong communication is essential. Controllers must be able to explain financial information clearly, provide meaningful insights, and help others understand how business decisions impact financial performance.

      Strong Finance Leaders do more than deliver reports. They help connect financial results to business performance, identify potential risks early, and support conversations that lead to better decision-making. Their ability to communicate clearly help improve collaboration across departments and create greater visibility throughout the organization.

      In many private equity-backed companies, Modern Controllers and Finance Leaders serve as a link between operations and ownership. Controllers who build trust, communicate effectively, and provide useful insights often become valuable partners in supporting growth and long-term value creation. At the Future CFO level, this communication expands further into board reporting and investor-facing discussions.

      

   4. Technology and Process Improvement Capability
      The evolution from Traditional Controller to Modern Controller is particularly visible in how technology is used within finance functions. Technology plays a much larger role in finance today than it did just a few years ago. As organizations grow and become more complex, leadership teams expect finance departments to provide accurate information faster and support better decision-making across the business.

      Because of this, Controllers are often expected to have experience with financial systems, reporting tools, automation initiatives, and process improvements. Whether it involves implementing a new ERP system, improving reporting processes, or introducing automation, finance leaders frequently play a key role in helping organizations operate more efficiently.

      Strong Controllers understand that technology is not simply about making accounting tasks easier, but about enabling scalability and better decision-making. Modern finance tools can improve visibility into business performance, reduce manual work, strengthen reporting consistency, and help organizations scale more effectively as they grow.

      PE recruiting firms, based on the needs of our clients, continue to focus on growth and operational improvement, firms increasingly value finance leaders who help modernize finance processes and build infrastructure that supports future needs. The goal is no longer just maintaining the accounting function, but creating a finance organization that can support long-term growth and better decision-making across the business.

      At the Finance Leader and Future CFO level, these systems also support board reporting, forecasting, and investor communication.

   5. Ownership Mentality and Accountability
      Perhaps the clearest difference between a Traditional Controller and a Finance Leader is ownership mindset. In private equity-backed companies, technical expertise is important, but firms also place a high value on accountability, initiative, and a willingness to take ownership of results.

      The strongest Modern Controllers and Finance Leaders do not simply focus on completing tasks or managing financial processes. They take an active role in helping the business achieve its objectives by identifying potential issues early, communicating proactively, and working with leadership teams to find solutions. They understand how their actions impact business performance and take responsibility for helping the organization move forward.

      This ownership mentality is especially important in private equity-backed environments, where companies are often expected to grow quickly, improve performance, and execute strategic initiatives within relatively short investment timelines. Finance leaders who approach challenges with urgency and accountability play an important role in helping organizations achieve those goals.

      PE recruiting firms value professionals who think beyond their job description and take ownership of outcomes, a mindset that is critical for Future CFO roles. In many cases, that mindset is just as important as technical expertise when evaluating finance leadership talent.

   Final Thoughts

   The role of the Controller in private equity-backed companies represents a clear progression from Traditional Controller to Modern Controller, and in many cases toward Finance Leader and Future CFO roles. As private equity firms continue to focus on growth, operational improvements, and value creation, the role of the Controller continues to evolve. Today’s finance leaders are often expected to contribute far beyond traditional accounting responsibilities by helping organizations navigate change, improve performance, and support strategic initiatives.

   At the highest level, this progression includes responsibilities such as M&A execution, capital structure decisions, banking relationships, board reporting, and exit planning.

   The most successful Modern Controllers combine strong technical expertise with operational understanding and position themselves for progression into Finance Leader and Future CFO roles. These qualities make a meaningful difference in helping private equity-backed companies execute on their goals and create long-term value.

   At Torrey & Gray, we specialize in PE recruiting of accounting and finance professionals for their portfolio companies. We understand the unique demands of sponsor-backed environments and focus on identifying leaders who can support growth, improve execution, and make an impact across the organization.

   Let’s connect to discuss how the right finance leadership can support your organization’s growth and long-term success.