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CFO Manufacturing - MN #5115

Absolute Opportunities
New Ulm, Minnesota, United States
November 14, 2018


CFO – Manufacturing - MN #5115

Relocation Yes

Location New Ulm, MN

Position Purpose:

The CFO acts as a strategic partner to the senior executive leadership team. The CFO reports directly to the President/Chief Executive Officer (CEO) and directly assists with strategic and tactical matters as they relate to budget management, cost benefit analysis, forecasting needs and the securing of new funding. The CFO leads the functions of Finance, Accounting, Procurement and Information Technology. Responsible for oversight of all company financial tasks and in particular financial statement preparation, financial planning, and analysis and reporting, both to assure control of company assets as well as to provide sales, marketing and operations with the financial tools and analysis they need to ensure growth and profitability.

Job Duties:

Strategy Planning and Management

1. Work with the CEO on the strategic vision including fostering and cultivating stakeholder relationships at all levels, as well as assisting in the development and negotiation of contracts.

2. Communicate, engage and interact with Board of Directors, CEO, COO and Executive Leadership Team.

3. Participate in pivotal decisions as they relate to strategic initiatives and operational models.

4. Create and establish yearly financial objectives that align with the company’s plan for growth and expansion.

5. Provide insight and recommendations to both short-term and long-term growth plan of organization.

6. Participate in weekly meetings with Executive Leadership Team

7. Plays a critical role in working with HR and outside resources on employee benefit and insurance programs, including 401(k).

Financial Analysis, Budgeting and Forecasting

8. Prepare and present monthly financial budgeting reports including monthly profit and loss by division, forecast vs. budget by division and weekly, monthly measures of success.

9. Review and analyze monthly financial results and provide recommendations.

10. Identify, develop and present analyses of business initiatives, new market/product launches and/or new service offerings.

11. Develop and maintain monthly operating budget and annual company operating budget.

12. Manage financial planning and analysis department. Supervise creation of reports, software implementation and tools for budgeting and forecasting.

13. Drives the annual budgeting process including workforce planning as well as ongoing financial statement, cash, and capital requirements forecasts. Personally prepares long range financial projections in conjunction with other executive team members and in sync with the company strategic plan. Helps CEO focus company efforts to achieve these plans.

14. Support M&A activities, acquisition integration and change management in a manufacturing environment. Evaluating business opportunities, conducting due diligence, negotiating transactions and providing post integration support.

Cash Management

15. Oversee cash, investments and asset management area.

16. Oversee weekly cash management and AP Department, approve large payables, sign checks, authorize large wires and ACHs

17. Supervise Accounts Receivable management and provide guidance relating to the collection process

18. Maintains an up to date cash flow forecast at all times, and communicates with CEO and other appropriate team members as to the best alternatives leading to positive cash flow generation and control of key cash flow factors including Inventory, A/P and A/R.

19. Develops financing alternatives and determines most advantageous financing methods. Develops and maintains working relationships with banks and financial institutions and leads in the arrangement and negotiation of company financing.

Finance, Accounting, IT and Procurement Team Management

20. Oversees Accounting Department functions of Accounts Payable, Accounts Receivable, Payroll, Cost and Inventory Accounting, Treasury, and General Accounting, managed directly by the Controller, but with substantial direct involvement.

21. Responsible for providing guidance and support to the procurement function. Overseeing the international supply chain management, its supplier relationship and import logistics management and contract negotiations.

22. Develops and maintains appropriate Information Technology function for the company, including in-house and outsourced I.T. resources. Oversees I.T. strategy, acquisition of hardware and software and plays a strong role in prioritization of the I.T. department’s agenda/systems initiatives. Ensures the department keeps up with new technologies that may benefit the corporation. Establishes objectives and ensures I.T. personnel are qualified and empowered to meet their objectives, including appropriate personal/professional development plans for all members of the organization.

Financial Relations and Policies

23. In tandem with the company Controller, coordinates outside financial activities (e.g. audit and tax), insurance, and legal services required by the company in its business activities.

24. Engage finance committee and/or board of directors to develop short term and long term plans, projections and budgets.

25. Work with CEO and other company executives to manage the company’s risk management programs to safeguard company assets, assures property and liability risks are properly insured and legal/contractual relationships do not leave the company with undue risk.

26. Establishes and maintains written procedures for all company financial functions necessary to ensure effective process driven management practices and compliance with GAAP, QMS, and any applicable ESOP considerations.

27. Works in coordination with CEO and Controller roles, providing thought leadership to address Employee Stock Ownership Program (ESOP) considerations such as repurchase liability studies, sustainability analysis/planning, and cash planning to address proper funding of ESOP distributions/diversifications and planning the best course of action for the long-term health of the company.

28. Support Traction / Entrepreneurial Operating System (EOS) process with input and guidance on appropriate company metrics and accountabilities for the Finance and IT functions.

Job Requirements:

1. Bachelor Degree in Accounting or Finance

2. CPA Required; MBA preferred

3. A minimum of ten years of progressive financial responsibility.

4. Strong ESOP experience preferred.

5. “Hands On” ERP Systems Experience – Prior experience with Syspro® a plus.

6. Outstanding communication and presentation skills.

7. Demonstrated leadership ability, confidence and executive presence – ability to motivate staff.

8. Significant experience working with external auditors, internal controls and compliance-related issues.

9. Proficiency with Microsoft Word®, Excel®, Power Point®, Outlook®

10. Travel – Minimal travel required, up to 15%.

11. Perform assigned tasks as required

Bottom line requirements we need notes on with candidate submittal:

1. Bachelor Degree in Accounting, Finance, or related.

2. CPA Required; MBA preferred.

3. 10+ years of progressive financial responsibility in a manufacturing environment.

4. Strong ESOP experience preferred.

5. “Hands On” ERP Systems Experience required. Prior experience with Syspro® a plus.

6. Salary expectations.