Same Model, Different Fit – Culture Decides Who Should Lead Your Club’s Finances
Picture two clubs, an hour apart. Same size, same kind of membership, similar budgets. One hires a finance leader who becomes indispensable within a year, a true partner in the room where decisions get made. The other hires someone equally credentialed who is gone in eighteen months, quietly frustrated, never quite fitting. Same model. Different result. Why?
Ask Club Benchmarking and the first half of the answer becomes clear. From a financial standpoint, clubs are far more alike than they are different. Ray Cronin’s Available Cash Model showed years ago that every club, regardless of size, geography, or “personality,” draws its operating cash from the same sources and spends it on the same handful of uses. Dues are unencumbered cash. Food and beverage, for all the energy it consumes in the boardroom, contributes less than ten percent of available cash at roughly seventy percent of clubs. The business model is common to every club.
So if the numbers are this consistent, why does a head of finance celebrated at one club so often struggle at the club down the road? The answer is almost never technical skill. It is culture and governance, and it is the most underestimated variable in any finance search.
When Governance Defines the Role
Whether the title is Controller, Director of Finance, or Chief Financial Officer, every club has someone leading finance and accounting. What differs is how much the club actually wants that person to lead. In a recent whitepaper I co-authored with the late Phil Newman of RSM and Ray Cronin, and in our CMAA World Conference work on hiring a true CFO, we made the point bluntly: not every club should hire one.
When a board prefers to run the club itself, setting the operational agenda and holding the strategic pen, it cannot also deploy a CFO at the top of their game. You cannot ask someone to think like an executive, then decline to seat them at the executive table. Clubs that govern strategically can make full use of a strategic finance leader. Clubs that govern operationally may be better served by a strong controller. Neither is wrong. What creates failure is the mismatch, hiring for one model while operating as the other.
Fit Runs Both Ways
Here is the part that matters most to you, the finance professional reading this. Because the financial mechanics are so consistent across clubs, the real question in any search is rarely “can this person do the work?” It is “will this person thrive in this culture?”, and that question has two sides.
Clubs evaluate you exhaustively. Evaluate them just as carefully. How mature is the governance? Does the board understand the difference between oversight and management? Is there stability in the GM seat, or a revolving door? A talented finance leader dropped into a culture that does not want strategic finance will not last, and that is not a failure of the individual. It is a failure of fit. Success at one club is not portable proof of success at the next.
What Happens When the Direction Shifts
Now the harder problem. Picture a board and a GM who decide they want an executive-level CFO. They make the hire, and for two years it works beautifully. Then the GM moves on. The incoming GM has never had a “real” CFO and does not see the value. Or a new board president arrives who does not grasp the return. Suddenly the person who was a perfect fit two years ago is a misfit, not because their performance changed, but because the culture around them did.
This is the quiet risk in every senior club hire. When boards turn over annually and the rationale for a role lives only in one departing leader’s head, even an excellent hire becomes vulnerable. Role clarity has to be documented, the value of the position made visible to each incoming board, and continuity treated as a governance responsibility, not a burden the employee carries alone.
So How Do We Attract and Keep Top Talent?
If the private club world wants to draw and keep high-caliber finance leaders, it must offer more than competitive compensation, though that matters. It must offer role stability, clear expectations, and genuine professional respect. That means defining the position honestly before the search begins, educating each new board on why the role exists and what it returns, and protecting the seat through leadership transitions so a strong leader is not quietly demoted by a change in personalities. It means treating finance professionals as the strategic partners we keep saying we want them to be.
The numbers across our industry are remarkably alike. The cultures are not. Until we recruit for that reality, and protect the people we hire into it, we will keep losing good leaders to the gap between what clubs say they want and how they choose to be run.
HFTP Clubs Online – June 2026
Michelle A. Riklan, ACRW, CPRW, CEIC, CJSS is a Career Strategist, Search & Consulting Executive at KOPPLIN KUEBLER & WALLACE (KK&W). KK&W is the leading executive search and consulting firm in the private club industry. Michelle can be reached at 833-KKW-HIRE (559-4473) ext. 717 and at michelle@kkandw.com.





