The first 90 days: Real-world advice from a financial services CFO

For new CFOs in financial services, the first 90 days set the foundation for long-term success.

But what does that foundation really look like?

Jeff Whaley, CFO at Haversine Funding, shares candid insights from his journey transitioning into his first CFO role.

Start with the fundamentals, even if it feels basic

Coming from nine years at Goldman Sachs in private credit and private equity, Jeff had deep industry expertise.

Yet his approach focused on mastering the basics before tackling advanced initiatives:

“In financial services, the widgets are dollars,” says Jeff. “A lot of people who come into CFO positions think basic accounting is beneath them.

“But especially in small to medium-sized organisations, you don’t have that luxury. There are no unimportant tasks because organisations run lean.”

Build credibility through action

The first 90 days are all about establishing trust and demonstrating competence.

Jeff’s approach focused on three key areas:

• Understanding core processes
• Building rapport with team members
• Delivering consistently on basic financial functions

“You listen a lot more than you talk,” Jeff explains. “You need to understand what’s important to all stakeholders and what your service level agreements are with other groups.

“Then focus on getting really, really good at those core functions.”

Create a tech foundation for growth

When Jeff arrived, Haversine’s financial infrastructure needed modernisation.

His team focused on:

• Streamlining the general ledger and chart of accounts
• Implementing dimensional reporting capabilities
• Creating efficient data structures for future scaling
• Automating manual processes.

“Everything was done with an eye toward scalability,” notes Jeff. “We asked ourselves: We’re doing okay with 30 loans, but what would we need to do with the same headcount to handle 300?

“How do we handle 10 times more investors?”

Balance innovation and risk

While embracing automation, Jeff takes a measured approach to emerging technologies such as AI.

He says: “There’s AI and there’s automation—I view those as two different capabilities. Automation is incredibly important to us.

“With AI, you must be very clear about what you want it to do. Right now, its most valuable application is extracting data from unstructured documents. But even then, accuracy is critical.”

Practical advice for new CFOs

For those stepping into their first financial services CFO role, Jeff offers these insights:

Master the basics first

“You can’t speak authoritatively about higher-level analytics if you don’t understand the mechanics.”

Think long term

“It’s not easy to dedicate resources to efficiency projects that won’t pay off for six to nine months, but you have to incorporate it into your day-to-day work.”

Build strong leadership relationships

“I’m fortunate to work with executives who see finance as a value-added function, not just a requirement. That mindset enables strategic growth.”

Focus on value creation

“Once you get past the basics of accounting, focus on making finance not just a have-to-have, but an area that creates real value.”

Stay humble

“In those first 90 days, you can’t take anything for granted. Everything’s important when you’re starting.”

The bigger picture

Financial services CFOs face unique challenges—from complex entity structures to investor reporting requirements.

Success requires balancing immediate operational needs with long-term strategic vision.

“In financial services, the CFO and COO roles often blur,” Jeff notes. “There’s more overlap than in a typical manufacturing company, for example. You need to understand both the financial and operational aspects deeply.”

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