In today’s competitive construction landscape, having a growth-oriented finance team is more important than ever. Construction CFOs must prioritize hiring controllers with the skills necessary to navigate economic challenges and industry complexities while positioning their companies for long-term success. A strategic controller doesn’t just manage day-to-day accounting; they drive cost management, cash flow optimization, and forecasting that align with the company’s broader goals. According to Deloitte’s 2024 Construction Industry Outlook, over 60% of construction firms are emphasizing financial planning and analysis (FP&A) expertise in controllers to fuel sustainable growth.

So, what exactly should Dallas construction CFOs look for in a controller to maximize business performance?

1. Strategic Financial Oversight with a Growth Mindset

A controller who understands the financial big picture can enhance operational efficiency and profitability. Beyond traditional accounting duties, today’s controllers must be proactive partners in decision-making. Their insights into financial performance, market trends, and project profitability are critical for maintaining healthy margins in an industry often plagued by tight budgets and shifting material prices.

• Key Traits: Look for candidates with experience in developing dynamic financial models, managing capital allocation, and implementing forward-looking cash flow strategies.
• Example: A growth-minded controller might identify underperforming projects and recommend reallocating resources to more profitable endeavors, thereby improving the company’s overall financial health.

2. Tech-Savvy Expertise in Financial Tools

Technology is transforming the construction industry, especially in financial management. From AI-powered forecasting tools to advanced project cost management software, leveraging technology allows controllers to provide actionable insights and increase efficiency. According to McKinsey’s Construction Insights Report, firms that use advanced financial tools experience a 15-20% boost in project efficiency, thanks to improved cost tracking, predictive analytics, and automated reporting.

Controllers who embrace digital transformation can better forecast material and labor costs, identify early warning signs of cash flow constraints, and deliver real-time reporting that informs strategic decisions.

• Preferred Skills: Proficiency in enterprise resource planning (ERP) systems, AI-driven financial forecasting, and project management software.
• Example: A tech-savvy controller integrates AI-based solutions to predict rising material costs months in advance, enabling the company to secure contracts at lower rates and avoid costly overruns.

3. Adaptability to Market Volatility

Construction costs are notoriously volatile, driven by fluctuating material prices, supply chain disruptions, and labor shortages. In fact, the Associated General Contractors of America (AGC) reports that more than half of U.S. contractors expect ongoing price instability in 2024. This uncertainty makes adaptability a critical skill for any controller.

• Why It Matters: Controllers must quickly pivot financial strategies in response to unexpected market shifts. Whether it’s negotiating vendor terms to manage cash flow or reallocating budgets in response to material price hikes, flexibility is essential to maintaining profitability.
• Example: A highly adaptable controller may implement just-in-time purchasing strategies to mitigate the impact of rising costs or secure alternative supply sources to reduce delays.

4. Risk Management and Compliance Expertise

Effective controllers mitigate financial risk while ensuring compliance with industry regulations. Construction companies operate within a complex regulatory framework that includes tax laws, contract compliance, and project-specific financial guidelines. Controllers with a keen understanding of these factors help safeguard the business from costly penalties and legal issues.

• Compliance-Focused Candidates: Seek out professionals with a track record of implementing internal controls and audit readiness, as well as familiarity with construction-specific accounting standards.

Long-Term Value for Construction CFOs

A controller with the right mix of adaptability, technology expertise, and strategic vision can significantly impact a construction company’s resilience and growth. CFOs in Dallas should focus on candidates who not only meet technical requirements but also demonstrate leadership, problem-solving abilities, and a proactive approach to financial planning.

By building a forward-thinking finance team led by a highly capable controller, construction firms can navigate economic uncertainty, streamline operations, and position themselves for sustainable success in a rapidly evolving industry.