How One CFO Solved His Talent Shortage

Why It Matters

By closing finance skill gaps internally, banks can cut hiring costs, improve retention, and build a pipeline of leaders equipped for digital and analytical demands, giving them a competitive edge.

Key Takeaways

• Finance talent gaps affect over half of firms
• Liberty Bank used apprenticeships and rotations to upskill staff
• Apprenticeship program attracted 100+ applicants, zero turnover
• CGMA credential boosted employee advancement and retention
• Mentors gain leadership skills through apprenticeship involvement

Pulse Analysis

The finance function is confronting an unprecedented talent crunch. A February 2026 Robert Half survey revealed that merely 6 % of finance teams feel fully equipped for critical projects, while more than half of hiring managers say skill gaps have deepened compared with the previous year. Parallel research from Personiv shows 87 % of finance leaders perceive an accounting shortage, up from 63 % in 2020. These deficits translate into longer vacancy cycles, higher recruitment expenses, and heightened risk as organizations struggle to meet regulatory, analytical, and digital transformation demands.

Liberty Bank’s chief financial officer, Paul Young, responded by piloting a hybrid apprenticeship and rotational program in 2022. Leveraging the AICPA‑CIMA Registered Apprenticeship for Finance Business Partners, the bank enrolled eight apprentices from diverse backgrounds, pairing on‑the‑job training with CGMA‑aligned coursework and cross‑functional stints in accounting, treasury, procurement, and FP&A. The model quickly gained traction: more than 100 resumes poured in, none of the graduates have left, and participants such as Caitlin Domina have earned top CGMA case‑study scores and secured promotions. The approach simultaneously builds technical competence and soft‑skill leadership.

The Liberty Bank case illustrates a scalable alternative to external hiring for CFOs seeking to plug skill gaps. By institutionalizing mentorship, celebrating milestones, and offering spot bonuses tied to credential milestones, firms can boost engagement and reduce turnover. As regulatory complexity and automation accelerate, finance leaders are likely to adopt similar apprenticeship frameworks, integrating them with existing talent‑development pipelines. CFOs that invest in internal upskilling not only safeguard operational continuity but also cultivate a differentiated employer brand that attracts high‑potential candidates in a tight labor market.