The Chief Financial Officer (CFO) is a crucial member of the executive management team, responsible for overseeing all financial activities, including financial planning, risk management, and reporting. Additionally, the CFO manages the company's IT infrastructure and risk management programs, ensuring alignment with its strategic goals. This role demands a deep understanding of the construction industry, strong leadership skills, and the ability to manage complex financial, technological, and risk-related challenges.
Key Responsibilities:
Executive Team:
- Collaborate with the President and Executive Team to develop strategies, policies, and programs to meet short- and long-term goals.
- Assess financial performance continually, developing scalable systems and controls to support growth.
- Provide financial advice and perspective for sound decision-making.
- Lead company initiatives by motivating, retaining, and encouraging innovation among team members.
Financial Management and Reporting:
- Develop and implement financial strategies, budgets, and forecasts to meet or exceed targets through project profit, expense control, overhead management, cash flow management, and continuous financial market trend analysis and projections.
- Ensure accurate and timely financial reporting, including monthly and annual financial statements.
- Oversee the financial operations, including cash flow, accounts receivable, accounts payable, job cost, payroll, and general ledger.
- Directs all Cash Management activities and strategizes on maximization, including investment opportunities.
- Develop and maintain internal controls to safeguard financial assets.
- Manage external audits and tax return preparation with the accounting firm.
- Partner with the Board and President to manage relationships with external parties, including the accounting firm, lenders, and bonding company.
Risk Management:
- Identify and manage key risks, including financial, operational, and strategic risks.
- Develop and implement risk management policies and procedures.
- Ensure compliance with regulatory and legal requirements.
- Oversee insurance and risk transfer programs.
- Manage legal matters as required.
Technology Management:
- Oversee the development and implementation of IT strategy and infrastructure.
- Ensure IT systems and processes are secure, efficient, and aligned with business needs.
- Manage relationships with external IT vendors and service providers.
- Implement and oversee data governance and cybersecurity measures.
- Ensure IT projects are completed on time and within budget.
Payroll Management:
- Oversee the payroll process, ensuring timely and accurate payment of salaries, wages, bonuses, and other employee compensations.
- Ensure compliance with all payroll-related laws, including prevailing wage requirements.
- Work with the HR department to manage payroll service provider; employee benefits, including health insurance, retirement plans; and other benefits
Leadership and Collaboration:
- Provide leadership, direction, and management of the finance, IT, and risk management teams.
- Collaborate with other members of the executive team to develop and execute the company's strategic plan.
- Communicate financial performance and strategy to the board of directors and other stakeholders.
- Foster a culture of high performance, continuous improvement, and accountability within the finance, IT, and risk management teams.
Essential Qualifications:
- Bachelor's degree in finance, accounting, business, or a related field is required. MBA or CPA is preferred.
Essential Experience:
- Minimum of 15 years of experience in finance, with at least 5 years in a senior leadership role.
- Prior experience in the construction industry, particularly within general contracting, is strongly preferred.
- Demonstrated experience with financial planning and analysis, budgeting, cost management, and financial reporting within a project-driven business model.
Essential Competencies:
- Strong knowledge of construction accounting principles, including percentage-of-completion accounting, job costing, and WIP reporting.
- Proficient in financial software and ERP systems (e.g., Sage 300, Viewpoint, or similar construction industry-specific systems).
- Strong understanding of cash flow management and project financing.
- Proven ability to lead, mentor, and develop teams.
- Experience working effectively with cross-functional teams.
- Excellent problem-solving and decision-making skills with a focus on financial analysis, project profitability, and risk management.
- Ability to communicate financial information clearly to non-financial stakeholders.
- Familiarity with relevant tax regulations, bonding requirements, insurance policies, and financial compliance standards in construction.
- Experience evaluating current business processes and technology and identifying potential areas for improvement.
- Strong business acumen and a proactive, hands-on approach to financial leadership.
- High level of integrity.
- Strategic thinker with the ability to align financial strategy with company objectives.
- Willingness to be a working manager.
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