CFO

Preston Hunter Bloomington , IN 47401

Posted 3 months ago

Position Description:

COMPANY, based in Bloomington, Indiana, manufactures and installs advanced conveyor systems for the corrugated packaging, folding carton and beverage can industries.The company manufactures advanced, fully automated conveyor systems using the latest roller technology. "COMPANY" has a dedicated installation team that does all of its own installation and provides aftermarket maintenance and repair services along with spare parts products.The Company has been operating for more than 30 years and is based in Bloomington, Indiana.

Recently acquired by a middle market private equity firm headquartered in Ohio.

The Chief Financial Officer will be responsible for all financial matters of "COMPANY". In addition, there are several significant growth opportunities that will be pursued including bolt-on acquisitions, new market and industry opportunities, internal strategic initiatives, etc.The CFO will have a significant role in helping to shape the strategic direction of the business, growing the company and creating value.

Primary Duties and Responsibilities

Finance

  • Overall financial management of the company, able to manage multiple sites and operations
  • Lead the company-wide development and implementation of goals, policies, priorities, financial strategy, linked metrics and procedures in regards to financial and operational management including budgeting and accounting
  • Manage banker relationships and administer the Companys debt facilities, including understanding repayment requirements, covenant compliance and borrowing capacity
  • Manage the capital equipment procurement process and work with operations to assess payback
  • Develop and utilize forward-looking, predictive models and activity-based financial analyses to provide insight into the organizations operations and business plans
  • Offer a seasoned perspective on all aspects of the operations and seize opportunities for process improvement within the company
  • Support acquisition integration and post-closing accounting implications in accordance with GAAP

    Financial Forecasting and Budgeting

  • Develop cash flow planning mechanism for a project-based business and ensure availability of funds as needed, including 13-week cash flow forecast
  • Coordinate the development and monitoring of the annual budgeting process and provide timely and accurate analysis of budgets, financial reports, and financial trends
  • Assess organizational performance against budgets with functional leaders and management team
  • Develop and manage the overall financial plan and processes, systems and measurement criteria to support the companys business operations
  • Participate in corporate strategy as a member of the senior management team and generate strategic options for the company and present these options and their related implications to the executive management team and to the companys board of directors
  • Interpret operating results as they affect the financial aspects of the organization and make specific recommendations for cost reduction and / or profit improvement

    Accounting

  • Produce accurate, GAAP compliant financial statements on a monthly basis and communicate financial results to investors and banks as is required by the Companys credit agreements
  • Identify ways to improve working capital management including improvement of (i) collection practices, (ii) inventory management and (iii) payables management.Implement performance metrics to drive accountability to this goal.
  • Provide timely monthly, quarterly and annual reporting as is required by a private equity owner and present as necessary
  • Establishes sound internal financial management control systems and develops procedures to continuously improve internal controls and remain current on updated accounting standards
  • Coordinate and manage the year-end audit process and manage auditor relations
  • Ensure timely filing of state, local and federal tax returns, including investor K-1 filings
  • Oversee and ensure timely and accurate processing of transactions and accounting data and ensure legal and regulatory compliance regarding all financial functions
  • Strong cost accounting skills including standard costing processes

Relationship Building

  • Establishes credibility throughout the organization as an effective developer of solutions to business challenges
  • Ability to build solid working relationships across the organization including with management, workforce, customers, suppliers and key third parties.

IT and Technology

  • Proficiency with ERP (Epicor would be a plus) and can leverage IT and internal system reports to enhance the reporting and efficiency of the company

Secondary Functions and Helpful Skillsets

  • Review contracts and approve financial terms.
  • Ensure legal and regulatory compliance
  • Understanding of quality initiatives such as six sigma and lean
  • Risk management, including appropriate tax and insurance strategies to preserve and enhance company assets and growth plans
  • Developing and implementing compensation structures, including incentive plans and sales compensation structures that link with and have potential to enhance company performance
  • Lead due diligence for potential acquisitions, mergers or similar significant business transactions
  • Working with HR to negotiate annual employee benefit pricing with brokers

Key Personal Attributes:

  • Strong leadership and team building skills
  • Exceptional technical skills tailored to the business
  • Proactive contributor to the business and generates improvement ideas
  • Creates a sense of team spirit and helps to create a positive work environment.
  • Strong strategic thinking skills with an ability to communicate clearly and persuasively
  • Adapts to changes in the work environment due to unexpected delays or events, manages competing demands, changes approach or method to best fit the situation
  • Strong organizational skills and work ethic

Travel Requirements:

  • Occasional travel to include quarterly business reviews with senior lenders and quarterly board of directors meetings
  • Should attend 2x a year field sales and service team or leadership meetings
  • Plan quarterly face to face meetings with key suppliers and/or customers as a part of the leadership team responsibility,
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CFO

Preston Hunter