- Chief Financial Officer
- Reporting to: CEO
- Location: Norwood, MA
BSG has commenced an executive search for Chief Financial Officer for our client, a handcrafted custom outdoor product manufacturer and direct sales distributor. The CFO will be responsible for the day-to-day administrative and financial operations of the company.
Chief Financial Officer
Founded in the 1930's, our client has offered handcrafted custom outdoor products for homeowners and professionals. The product line includes gates, fences, and more using wood or wood alternative modern cellular PVC. Our client manufactures, markets direct to consumer, and installs high-end outdoor products. Our client works with customers directly to ensure their expectations are met and even offers a design service where a representative will visit a customer's property and suggest styles and take necessary measurements. Our client applies new techniques and technologies as their engineering department is the most advanced in the fence industry. Each customer order is reviewed manufacturing accuracy and in more technical custom work, their engineers use high-tech CAD systems to produce detailed drawings.
Our client has modeled its business to be fully integrated from start to finish with its products made in the United States and is the largest fabricator of modern cellular PVC in the country. Our client has over 250 employees and runs its own milling operations, fabrication facilities, and warehouses in Maine. Our client employs a multichannel, direct to consumer network that includes a network of retail stores, online, e-commerce, catalog sales, and in-home consultations.
Reporting to the Chief Executive Officer (CEO), the Chief Financial Officer (CFO) will be responsible for the day-to-day administrative and financial operations of the company. This includes the development of a financial and operational strategy, and the ongoing development and monitoring of control systems designed to preserve company assets and report accurate financial results. 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 the organization 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.
- Provide consistent and accurate financial forecasting for company.
- Improve overall financial reporting to make it more efficient and impactful by implementing a business intelligence platform.
- Monitor capital requests and expenditures to ensure within budget and plan.
- Oversee all accounts, ledgers, and reporting systems, ensuring compliance with appropriate Generally Accepted Accounting Principles and regulatory requirements.
- Maintain internal control safeguards and coordinate all audit activities.
- Ensure that the Company is in continuous compliance with all statutory, regulatory, banking, tax, and other external and internal operating, reporting and record keeping requirements to which the company is subject.
- Manage the Treasury function, including cash management, cash forecasting, accounts receivable and accounts payable. Develop a reliable cash flow projection process and reporting mechanism to meet operating needs of the company.
- Manage tax statement preparation with vendors as needed, for all related company and shareholder activities.
- Maintain key relationships with insurance broker, ensuring awareness of all significant business developments and maintenance of appropriate coverage.
- Maintain key banking relationships, ensuring bank is aware of all significant business developments and partner on strategies to ensure company is always adequately funded.
- Analyze and value opportunities to sell or acquire business units. Facilitate due diligence reviews should these transactions proceed beyond initial review, facilitating smooth transition should transaction close.
- Oversee budgeting and the implementation of budgets to monitor progress and present financial metrics internally.
- Mentor and develop a team of professionals, managing work allocation, training, problem resolution, performance evaluation, and the building of an effective team dynamic.
- Assist the CEO and Executive Team in the development and execution of operating policies and procedures as needed.
- Support all company initiatives by process and procedure as communicated.
- Other duties as assigned
The CFO will be a seasoned and mature leader with at least 8-10+ 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 environment. The CFO will have experience managing the finance & accounting function (accounting, budgeting, control, and reporting) within a diverse entity. The successful candidate will have the ability to function on a broad-based, strategic level and see the "big picture", in addition to being hands-on and capable of diving into the details and data when needed.
The CFO will have the following experience and attributes:
- BS in Accounting, finance or business administration
- Strong working knowledge of financial planning and analysis, budgeting and forecasting, cost 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
- Success in managing additional functions such as IT and Administrative
- Technical knowledge of various business intelligence systems and ability to leverage to deliver impactful data to organizations
- An effective communicator at all levels in the organization, with strong oral and written skills and a willingness to share information
- Proven understanding and execution of lean manufacturing principles
- A collaborative and flexible style, with a strong service mentality
- Ability to travel as needed
- Experience and comfort managing banking relationships and external vendors
- Demonstrated experience within a vertically integrated manufacturing company
- Private Equity backed business experience strongly desired
- CPA strongly desired
IDEAL CANDIDATE PROFILE
A summary of key competencies required to be successful include the following:
- Cash management (AR/AP/Treasury)
- Board reporting
- Modeling (financial impact on customers, markets, products, FP&A)
- Audit and regulatory management (CPA and audit committee)
- Operating and capital budget creation/ management
- Lender and bank covenant management
- M & A relationship management (buy & sell-side), diligence, financials and integration impact
- Accounting and monthly closes
- Cost Accounting
- Tax, including revenue recognition & stock options accounting, etc.
- Financial dashboard creation and management of KPIs
- Vendor Management
- Professional and educational certifications: CPA
- Contracts: Creation, review and management
- Office Management
- Facilities: Property, plant and equipment
INDUSTRY - Manufacturing Industry
- Manufacturing (domestic vs. offshore)
- Vertically Integrated Products
- Composites (PVC, petroleum-based building products, plastics, etc.)
- Recycled Plastic Composites
- Sawmill, Milling and Lumber
- Direct to Consumer (D2C)
- Builder leader and optimizer leader
- Private company experience
- Working with Board of Directors comprised of PE Investors
- Sales Growth from $40m-250M+
MANAGEMENT & LEADERSHIP EXPERIENCE
- Experience reporting to CEO
- Leading a team of 10-15+
- Driving creation and buy-in to KPIs, goals, metrics within own team and cross-functionally where appropriate/necessary
Our client's staff currently numbers approximately 250 employees, with plans for strategic growth in the future. This role will report to the CEO.
Since 1990, a private equity firm has provided experienced management teams with entrepreneurial capital to grow their businesses. The PE team focuses on creating value in their investments - typically lower middle market business services and manufacturing companies. This is accomplished by investing in inefficient markets where creativity, hard work, and disciplined risk-taking can generate exceptional returns for the benefit of all stakeholders. Recently, the PE firm and its parallel fund acquired our client.
Compensation is competitive with the position's requirements. In a performance-based environment, this will include base salary and a bonus structure based on corporate qualitative and quantitative strategic KPIs.
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