Description:
PURPOSE OF POSITION
The Chief Financial Officer (CFO) at Press-Seal is a strategic leader responsible for overseeing all financial operations, collaborating with Sr. Management, BOD members, and ownership to driving change management initiatives, and ensuring the company’s financial health within a dynamic manufacturing environment. This role requires a financial expert with deep knowledge of manufacturing processes, cash management, industrial costing, and a focus on developing future leaders within the organization. The CFO will play a pivotal role in implementing financial systems and processes, optimizing resources, and guiding the company through growth and transformation. The CFO will provide strategic insights to align the company’s financial objectives with long-term value creation.
ESSENTIAL DUTIES AND RESPONSIBILITIES
1. Financial Strategy and Leadership:
- Lead the development and execution of financial strategies that support the company’s growth, sustainability, and evolving business needs, with a particular focus on long-term business transformation.
- Provide forward-thinking leadership in cash management, industrial costing, and cost accounting, particularly within a manufacturing context.
- Spearhead change management initiatives to introduce and standardize new financial systems, processes, and reporting structures that improve transparency and efficiency across the organization.
- Conduct in-depth financial analyses to identify trends, risks, and opportunities, offering actionable insights to the executive team.
- Collaborate closely with leadership, including operations and sales, to drive continuous financial and operational improvements, especially around cash flow management, resource optimization, and cost control.
2. Budgeting, Forecasting, and Cash Management:
- Oversee the development and management of the company’s annual budget, ensuring alignment with both short- and long-term strategic objectives.
- Lead cash management efforts to ensure liquidity and efficient capital allocation, optimizing working capital across the company.
- Provide accurate forecasting and variance analysis to inform leadership and facilitate proactive decision-making.
- Continuously evaluate financial performance against budgets and forecasts, recommending adjustments and identifying areas for cost savings and operational improvements.
3. Operational and Financial Analysis:
- Perform detailed financial and operational analyses, focusing on industrial costing and cost-reduction strategies specific to manufacturing environments.
- Partner with operations and sales teams to provide financial insights into pricing strategies, capital investments, and efficiency improvements.
- Lead efforts to streamline financial reporting and analysis systems, ensuring timely and accurate data to support strategic decision-making.
- Utilize data-driven analysis to inform executive decisions, especially around growth initiatives, capital expenditures, and profitability optimization.
- Oversee and ensure the successful integration of Made to Manage ERP to enhance financial visibility and operational efficiency across the business.
4. Negotiation and Relationship Management:
- Negotiate and establish relationships with third-party vendors, including financial institutions, insurance providers, external accountants, and consultants, to secure favorable terms that benefit the company.
- Maintain and manage ongoing relationships with banks, ensuring effective communication and collaboration on financing needs, cash management, and other financial services.
- Oversee the company’s insurance programs to ensure appropriate coverage and risk mitigation strategies are in place while negotiating for optimal rates and service terms.
- Serve as the primary point of contact for external accounting firms during audits and financial reporting periods, ensuring compliance and financial accuracy.
- Manage relationships with other key external stakeholders, including legal advisors, tax specialists, and private equity partners (if applicable), ensuring that all financial obligations and regulatory requirements are met.
5. Risk Management and Compliance:
- Ensure that the company’s financial practices adhere to all regulatory requirements, including tax regulations, industry standards, and internal financial controls.
- Lead risk management initiatives, particularly in areas related to financial and operational risks, ensuring robust mitigation strategies are in place.
- Oversee audits, compliance initiatives, and financial reporting integrity to safeguard the company’s financial health and reputation.
6. Change Management and Systems Implementation:
- Drive change management efforts, focusing on transforming and optimizing the finance function by implementing new financial tools, processes, and systems that meet the evolving needs of the company.
- Ensure seamless integration of financial processes across departments, fostering cross-functional collaboration and accountability.
- Address resistance to change by clearly communicating the value and impact of new financial initiatives and providing the necessary training and support for successful adoption.
7. Leadership and Team Development:
- Lead, mentor, and groom future leaders within the finance department, fostering a culture of accountability, continuous learning, and development.
- Develop and implement training programs that enhance the skills and capabilities of the finance team, preparing them to support the company’s growth and increasing complexity.
- Collaborate with HR to ensure the finance team is well-structured to meet the evolving needs of the business and support strategic initiatives.
- Build strong cross-functional relationships, especially with operations and sales, to drive collaboration and align financial goals with broader organizational objectives.
8. Other Duties as Assigned.
Requirements:
QUALIFICATIONS
- Proven experience in a senior financial leadership role within a manufacturing environment, with a strong track record of financial planning and operational analysis.
- Demonstrated ability to drive process improvements and lead financial strategies in a complex, growth-focused company.
- Expertise in budgeting, forecasting, and financial analysis, with the ability to translate data into actionable business insights.
- Strong understanding of cost accounting, financial controls, and compliance in a manufacturing setting.
- Experience implementing financial systems and tools that enhance reporting and decision-making.
- Exceptional communication skills, with the ability to influence at the executive level and work collaboratively across departments.
- Bachelor’s degree in Finance, Accounting, or a related field; CPA or MBA preferred.
- Ability to travel up to 10-25%.
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