- Chief Financial Officer
- Reporting to: CEO
- Location: New York City (travel to Northern NJ and Montreal)
BSG has commenced an executive search for Chief Financial Officer (CFO) for our client, a leading supplier of home soft textiles including to retailers throughout North America. The CFO will be responsible for the day-to-day management of all financial management and financial reporting functions for the organization.
Chief Financial Officer
Our client is a leading supplier of home soft textiles including to retailers throughout North America. With a history of long-tenured customer relationships, our client has built a strong service track record, robust sourcing platform, and unique inventory and supply-chain management system enabling the Company to become the preferred provider of textile products to the world's largest retailers. Our client has operations throughout the U.S. and Canada and has over +350 employees at its New York City, North Arlington, NJ and Montreal, QC locations.
Location: New York City (travel to Northern NJ and Montreal)
Reporting to the Chief Executive Officer (CEO), the Chief Financial Officer (CFO) will be responsible for the day-to-day management of all financial management and financial reporting functions for the organization. The CFO oversees the finance department including general accounting, payroll, accounts payable, revenue cycle and financial analysis and ensures cash collection goals are met and net revenue is properly stated. Responsibilities include financial statement preparation, cash management, budgeting, financial analysis, tracking and reporting various statistical measures (e.g., volume, revenue and cost per unit of service), cost accounting, and service line reporting and revenue cycle.
It is also expected that the CFO will serve as a strategic advisor and partner to the CEO and company leadership helping to drive the company's performance by providing fact based analysis and strategic financial direction. As an integral member of the Executive Team, the CFO will support business unit Presidents in improving sales growth through financial analysis.
- Ensure that financial information, analysis and reporting is accurate, timely, reliable and relevant, in order to assist the Board, CEO, and Executive Team in effectively performing their responsibilities
- Manage financial and business performance by developing appropriate metrics on which to measure the Company's business, monitoring variances to forecasts, and developing action plans to address variances. Work with operating team to identify and address trends, implement corrective actions and performance improvement actions.
- Oversee all accounts, ledgers, and reporting systems, ensuring compliance with appropriate
- Generally Accepted Accounting Principles and regulatory requirements.
- Develop and lead all corporate financial functions, including accounting/control, treasury, tax, planning, audit, budgeting, and financial information systems
- Maintain internal control safeguards and coordinate all audit activities.
- Ensure that the Company is in continuous compliance with all statutory, regulatory, banking, import, tax, and other external and internal operating, reporting and record keeping requirements to which the company is subject
- Ensure that the information technology platform for financial and operational reporting meets the needs of the organization. The CFO will be the liaison between the finance and IT organization, providing guidance on the requirements, alignment of the priorities and preparation of the longer term strategy for the technology landscape in the finance organization.
- Manage the Treasury function, including cash management and cash forecasting. Develop a reliable cash flow projection process and reporting mechanism to meet operating needs of the company. Provide senior management with current and accurate financial cash forecasting to improve decision making.
- Optimize the handling of banking and debt relationships and represent the company to external financial partners.
- Oversee budgeting and the implementation of budgets so as to monitor progress and present financial metrics internally.
- Mentor and develop a small team of finance and accounting professionals, managing work allocation, training, problem resolution, performance evaluation, and the building of an effective team dynamic.
- Provide strategic and creative financial advice and leadership on decision making issues affecting the organization (e.g., new business opportunities, alliances, acquisitions)
- Provide assistance to the CEO and Executive Team in the development and promulgation of operating policies and procedures as needed
- Support all company initiatives by process and procedure as communicated
- Adhere to all company policies and procedures
- Other duties as assigned
Qualifications & Expertise
The CFO will be a seasoned and mature leader with at least +12 years of broad finance experience, ideally beginning in accounting, followed by significant experience gathering and evaluating financial information and making actionable recommendations to senior leadership in a Private Equity backed, levered environment. The CFO will have experience managing the finance function (accounting, budgeting, control, and reporting) within a diverse, division-based entity. Knowledge of inventory cost accounting. The successful candidate will have the ability to function on a broad-based, strategic level and see the "big picture", whilst being capable of, and comfortable with driving detailed, tactical execution.
The CFO will have the following experience and attributes:
- BS in Accounting, finance or business administration and be a CPA;
- Strong working knowledge of financial planning and analysis, budgeting and forecasting, accounting, risk management, and tax and treasury;
- Advanced Excel and PowerPoint skills;
- Demonstrable passion for driving results;
- Hands-on manager with integrity and a desire to work in a dynamic environment;
- Strong analytical skills and experience interpreting a strategic vision into an operational model;
- Past experience successfully partnering with IT staff to manage critical financial management systems;
- An effective communicator at all levels in the organization, with strong oral and written skills and a willingness to share information;
- A collaborative and flexible style, with a strong service mentality;
- Ability to travel occasionally travel (<10% of time)
- Experience operating in a leveraged environment and managing banking relationships;
- Experience within a private equity-owned business is a plus; and
- Experience with a Big 4 accounting firm is a plus
Ideal Candidate Profile
- Functional Experience
- Cash management (AR/AP, treasury, foreign exchange)
- Board reporting
- FP&A modeling
- Audit & regulatory management (CPA and audit committee)
- Operating & capital budget creation/ management
lender & bank covenant management
- M & A relationship management (buy & sell-side), diligence, financials & integration impact
- Accounting & monthly closes
- Successful M&A and/or public exit experience
- Tax, including revenue recognition & stock options accounting, international tax, etc.
- Financial dashboard creation & management of KPIs
- Global/multi-country financial management & integration
- Professional & educational certifications: CPA
- ERP implementation & integration
- ERP driven intelligence gathering for operations performance improvement
- Staffing, oversight & reporting
- Warehouse management (inventory, pick/pack/ship, etc.)
- Industry - consumer products (nonperishable)
- Consumer products
- Fashion & apparel industry
- Home goods (nonperishable)
- CORPORATE STAGE
- Builder leader vs. optimizer leader
- Private company experience in career background
- $150-500M+ company revenue experience
- MANAGEMENT & LEADERSHIP EXPERIENCE
- Experience reporting to CEO in past
- Experience leading team of 20+
Our client's staff currently numbers approximately 350 employees worldwide, with plans for strategic growth both organic and inorganic in the future. This role will report to the Chairman & CEO.
A leading global private equity investment firm with $24 billion of equity capital under management announced in January of 2018 that one of its affiliates had acquired our client.
Compensation is competitive with the position's requirements. In a performance-based environment, this will include base salary, bonus structure based on corporate qualitative and quantitative strategic KPIs, and a stakeholder position in the company.
CONTACT or SUBMIT RESUME: