Chief Financial Officer

Company: LinkSource Recruiters
Location: Chicago
Posted on: January 15, 2021

Job Description:

NW Recruiters is currently conducting a search for one of our key clients, a provider of custom automated packing solutions in the Chicago, Illinois area, who is adding an operationally-minded CFO to their leadership team, due to current and forecasted growth. This client provides customers innovative packaging solutions through: a broad range of capabilities, dependable equipment, excellent technical and customer support, and new technologies. Under the direction of the CEO, the Chief Financial Officer provides strategic direction for planning, implementing, managing, executing and controlling all financial activities for the organization. Areas of responsibility for this role include: strategic and operational business planning, financial analysis, and management of the accounting, information services and human resource functions. This position is a key member of the organization's collaborative, "roll-up-the-sleeves" leadership team.
-- AREAS OF RESPONSIBILITY

-- Financial Analysis and Planning:

• Prepares and maintains regular financial planning reports.
• Identifies trends and provides the financial perspective for key business decisions, and managing profitability and cash flow.
• Develops annual business plan and related processes. Interfaces with department leaders to prepare, integrate and track information.
• Analyzes business results on a monthly and annual basis, and issues financial statements and reports.
• Maintains a strong business relationship with the bank(s) that provide working capital and capital equipment loans. Provides bank(s) with information summarizing organizational performance (highlighting financial areas) on a monthly basis.
• Develops and delivers timely quarterly financial reporting packages for the Board of Directors.
• Monitors and implements the financial forecast for the organization, analyzing financials, and recommending changes in an effort to improve the long-term financial health of the organization.
• Develops tools and systems to provide critical financial and operational information to the President and leadership team and make actionable recommendations on both strategy and operations.
• Alerts sales, production, warehouse management and shareholders of issues that are identified through review and analysis.
• Manages the capital request and budgeting processes. Reviews and analyzes capital expenditure requests for: completeness, measurability and validity of costing and value realization. Analyze capital spending variances to budget and provide explanation for variances.
• Monitors inventory for variances, cost increases, discrepancies and turnover.
• Analyzes the sales, product, and gross margins identifying problems, variances and declining trends. Recommend and implement solutions.
• Conducts analysis of materials and purchasing processes from costing through vendor payment to insure accuracy and integrity.
• Assesses organizational financial and operations performance against both the annual budget and company's long-term strategy.
• Participates in corporate policy development as a member of the leadership team.
• Establishes and implements short- and long-range departmental goals, objectives, policies, and operating procedures. Strategic Planning:
  • Works with the President on the strategic vision including fostering and cultivating stakeholder relationships.
  • Directly supervises leaders of accounting and information services. Provides overall inspiration, leadership and management for the activities of approximately related staff.
  • Develops and executes analysis of various business initiatives (e.g., opening new operations, asset acquisition, new service launches).
  • Conducts due-diligence for business expansion opportunities and make risk vs. rewards recommendations to owners.
  • Assesses the benefits of all prospective contracts and advise the leadership team on design and implementation matters.
  • Develops and assists the President with the implementation of strategic business and/or operational plans, projects, programs, and systems. Accounting:
    • Manages the preparation and maintenance of regular financial planning reports including: monthly, quarterly and annual financial statements.
    • Oversees the management of collections, accounts receivable, accounts payable and payroll.
    • Develops a reliable cash flow projection process and reporting mechanism which includes minimum cash threshold to meet operating needs.
    • Establishes and ensures systems are developed and utilized to ensure proper maintenance of all accounting systems, functions, controls and procedures.
    • Ensures records systems are maintained in accordance with generally accepted auditing standards.
    • Assumes responsibility for all transactions that are handled within the accounting department with an expectation of complete accuracy.
    • Ensure cash is managed prudently insuring positive financial health.
    • Maintain company's financial stability and integrity through financially sound, decision-making. Operational Alignment:
      • Analyzes profitability of products and customers based on standard costs and assists with pricing decisions.
      • As appropriate, assists in the implementation of lean processing practices to insure manufacturing schedules are appropriate and labor costs are controlled.
      • Manages cost accounting focusing on products costs to help achieve desired gross margins.
      • Assists sale team on special projects related to pricing, reporting, and job costing.
      • Continually assesses and evaluates opportunities for providing additional data to assist operations, sales and leadership team indecision making processes.
      • Conducts analysis to develop detailed cost information required to set productivity standards, report performance against those standards, and develop improved accuracy of cost of sales and inventory valuations. Information Systems:
        • Oversees the management of Information Systems department.
        • Responsible for the company's Information Technology Systems; including design, implementation, maintenance and procurement.
        • Organization utilizes TCM software and 3 CAD Platforms. Human Resources:
          • Provides direction related to strategic and key tactical decisions related to this functional area.
          • Key liaison in PEO relationship with outsourced human resource services provider Internal Representation:
            • Active member of the leadership team by contributing to the development and implementation of tactical and strategic plans and strategies.
            • Participates in staff meetings representing finance and accounting, human resources and information services. External Representation:
              • Maintains a strong business relationship with the public accounting firm performing tax, audit and consulting service.
              • Maintains a strong relationship with the bank(s) that provide capital, including assurance of compliance with reporting requirements.
              • Oversees business insurance plans and health care coverage analysis. KNOWLEDGE AND SKILLS REQUIRED:
                • Bachelor's degree from an accredited college or university in Accounting, Business, or other relevant field.
                • Minimum of seven (7) years of progressively responsible Controller or CFO experience in the area of fiscal management/accounting including at least five (3) years management level experience.
                • Extensive background in accounting and auditing, operations, policies and procedures, with advanced knowledge of state and federal compliance regulations.
                • Ability to analyze and interpret financial data and prepare financial reports, statements and/or projections.
                • Experience preparing budgets and cost benefit analyses.
                • Effective analytical ability in order to develop and analyze options, recommend solutions to and solve complex issues.
                • Exceptional leadership skills, evidenced by successfully building, motivating and managing teams, and by effectively working as a partner with a leadership team.
                • Professional written and verbal communication and interpersonal skills.
                • Ability to participate in and facilitate group meetings.
                • Excellent organization and time management skills, and attention to details.
                • Energy and drive to deliver objectives on time, on budget, and on target.
                • Highly collaborative team leader/player.
                • Able to handle multiple tasks and maintain control and order over same.
                • Exceptional work ethic and time commitment to organizational success.
                • Self-directed individual with strong leadership skills, initiative and flexibility.
                • Demonstrated success working with people at all levels in the organization, with a commitment to working on cross-functional teams.
                • A disposition and approach to relationships and work which is open and honest, trustworthy and fair.
                • Motivated and equipped to get involved in the operational side of the business.
                • Ability to manage company and financial information in a confidential and professional manner.
                • Knowledge of and ability to use various computer programs such as Microsoft Office and programs/systems utilized in fiscal management including spreadsheet, word processing and presentation software.
                  PREFERRED:
                  • Experience in an engineering or manufacturing environment.
                  • Experience managing human resource and/or information services functions.
                  • Masters in Business Administration.
                  • Experience with the following concepts; TQM, Total Quality Management systems, LEAN, Supply Chain management, or ISO.

Keywords: LinkSource Recruiters, Chicago , Chief Financial Officer, Accounting, Auditing , Chicago, Illinois