Typically, interim managers may be used in the following circumstances:

• Planned or unplanned absence of directors or senior managers, such as maternity cover or long term sick leave
• Short-term cover while recruitment of a permanent executive is not immediate
• Management of sensitive issues or problem areas, without bias
• Managing routine tasks that can be outsourced or which free up executives for mission-critical activities
• Situations where specialist technical knowledge is required immediately or for a limited period
• Complex project management or rapid change – such as reorganisation, business integration or relocation
• Development of new markets, products or business ventures, including feasibility studies
• Business areas under review, in transition or run-down where a permanent recruit would be inappropriate
• Managing M&A activity, turnarounds and crises

Specific situations for the finance industry

Current market conditions are creating all types of short term challenges for finance companies, requiring specialist skills.

Issues facing finance companies where an interim manager can add value to your business may include:

Front office

• Sales – opening new markets or vendor accounts with specialist contacts and expertise
• Marketing – customer profitability analysis, managing changes to distribution or channel management, audit of marketing effectiveness, marketing planning, projects and communications

Operations, finance & risk

• Credit – strengthening underwriting disciplines, analytics to manage growth / return / risk
• Collections – analysing, re-prioritising and upgrading collections practices
• Asset management – developing new residual value matrices, projects to reduce portfolio management risks, improving end-of-lease incomes
• Operations – process and efficiency improvements, relocations and restructures
• Financial management – corporate restructuring, cost management projects, business planning
• Pricing – pricing models to reflect new risks and cost of funds, support for big ticket deals
• Tax – reviewing existing tax positions, negotiation with HMRC on specific issues, managing regulatory change, developing new product structures, big ticket support
• Treasury – identifying and negotiating new funds, restructuring of existing funding models, reducing treasury risks

Project

• M&A – specialist resources for managing a buy or sale process, identifying targets, initial contact and negotiation, portfolio valuation, due diligence or tax management
• Disposal, closure or run-down management, where permanent recruitment is not appropriate
• Management of business change, such as integration, downsizing or efficiency projects

As well as the UK, Invigors Interim can source interim managers for international companies seeking to fill local skills shortages.