Director, Finance – future VP, Finance

Our customer is a profitable, growing, all Canadian owned and managed, heavy equipment sales, service and rental company with the head office in Stoney Creek and four other operating locations (Bolton, Montreal, Sherbrooke and Vancouver). Due to the upcoming retirement of the VP, Finance, the senior team is looking for a skilled, reliable and highly competent financial professional leader to come on-board as Director, Finance, make improvements, hire another CPA and then transition to VP, Finance once embraced as a reliable business colleague – someone who will work hard to never let the team and Owners down.

The Director, Finance position is focused on working cooperatively with the GM; who acted as the company Controller in the past, work to develop and effectively implement wise controls for the Service Technicians inputting data into the system from the field and thereby increase the accuracy of the financial reporting (10 day close currently). Provide effective leadership over the insurance and, in cooperation with the Founder, relationship management with the bank and other financing suppliers. The Director, Finance will be personally responsible for the accounting operations, financial reporting, bank covenant reporting and staff management until another CPA is hired to share in the daily accounting requirements – thereby enabling the transition to VP, Finance

Reporting directly to the Founder and dotted line to the President, the salary range for this hands-onDirector, Finance – future VP, Finance position is $154,000 to $184,000, (dependent upon experience)comprehensive benefits, including an RRSP program and reimbursement of all CPA Membership and ongoing professional development fees. 

If you are or know of a results-oriented, hands-on with financial reporting and Microsoft Excel for financial and business analysis Chartered Professional Accountant business leader who can effectively and personally deliver positive financial reporting accuracy improvements, manage staff and also contribute meaningfully at the banking and senior strategy tables, please arrange for a resume to be sent to client1125@financialinterviewer.com e-mail subject line: Stoney Creek Director, Finance by December 18. 

Please see position behaviours and responsibilities details below.  No agencies please.

Position Behaviours

  • Have drive, creativeness, individuality, imagination and an authoritative approach when required. 
  • The incumbent should be able to work in antagonistic situations which provide challenge, venturing into the unknown and the need to achieve tangible measurable results while always remaining professional. 
  • Periodically, the person successfully fulfilling this role is likely to be required to be demanding, dominating, decisive, creative, highly competitive, personally focused on hands-on tasks and delivering results, suspicious of questionable information, strong willed and independent in thinking while resolving errors and/or addressing problems. 
  • Activity and mobility, coupled with the need to get things done immediately are also important features within the function.
  • Use researched, factual, information when solving problems and apply logic when handling hands-on analysis utilizing the ERP system and Microsoft Excel – V Look Up and Pivot Table skills required. 
  • Actively and effectively mentor, supervise and train staff. (6 Clerks)
  • Focus and push both self and others to achieve targets, budgets and results despite any opposition or antagonism on route.
  • Set tough objectives, monitor progress and if necessary take corrective action and generally control the performance of both self and, where appropriate, others.
  • Challenge the status quo in order to achieve required financial reporting and controls improvements and positively contribute to a culture dedicated to continuous improvement and best practice. Ideally, bring forward best practice ideas learned from other organizations.
  • Make decisions in a timely and appropriate manner while keeping the Founder and President involved and appropriately informed.
  • Bring a sense of urgency to situations, demonstrate an active approach, be willing to get involved in order to increase the pace and achieve goals and objectives.
  • Draw conclusions by probing into things and contemplate the consequences of any action that is likely to be taken by proving the reliability of the information available.
  • Be firm and persistent, yet respectful, when expressing views and provide thoughts and ideas to help overcome problems within Finance and Operations – once the situation has been properly debated at the senior discussion table.
  • Openly communicate. This is a communication, financial reporting, hands-on financial and business analysis, banking and insurance Director, Finance – future VP, Finance leadership position. Silo thinking and/or non-collaboration or non-co-operational behaviour will not fit within the business’ culture. The Owners actively work to promote a one team business culture.
  • Continually seek out opportunity to serve the Operations and Ownership teams, practicing and encouraging a culture of strategic excellence.
  • Enjoy the challenge of problem solving and come up with well thought through, practical, solutions.
  • Be proactive and energetic in the work situation, seeking to get things done and at the same time deal with a variety of tasks.
  • Be self-confident (without being arrogant) and have drive to meet deadlines in a business environment which could have variety and interruption.
  • Always bring strong, positive, business values and ethics and the ability to implement and/or maintain controls appropriate for a private business.
  • Always and only be honest, ethical, up-front and respectful during all verbal and written communications with everyone inside and outside the organization.

Position Responsibilities

Upon arrival; invest time, attention and listening skills to learn about the business structure, what each operating company does and for which customers, the people involved, the current processes and policies and procedures and start to develop positive, trust-based, company-wide business relationships. 

Personally perform a detailed review of the current controls. Especially focus on those involving the data input from the field as they directly affect the accuracy of the financial statements/reporting.

Begin to meet with the Accounting staff (6 Clerks). Understand their needs and current work tasks and form positive business relationships. Then start to provide coaching, guidance and support.

The Director, Finance needs to be knowledgeable regarding ASPE and know enough about HST/QST/PST/GST to effectively manage the Canada-wide reporting needs. Ensuring that the filings are completed in an accurate and timely manner – including WSIB and corporate tax information, which is given to the external accountant’s.

Ensure that the Service Technician (hourly staff) are paid accurately and on-time and that the Field Managers receive accurate profit sharing reporting and related compensation.

As Director, Finance, personally perform detailed reconciliations of all GL accounts and review Payroll. 

Within 30 days, learn and effectively use the CDK Intellidealer ERP software and the incoming iPad based data capture and billing solution.

Regularly monitor and systematically ensure that the inventory accounts are in balance. 

Lead staff to maximize collection of payments from clients, to reconcile on a monthly basis and pursue unpaid amounts.

Personally perform monthly reconciliations and journal entries as required. 

Within 60 days, have formed cooperative relationships with leadership/the Owners and the other senior team leaders, clarify needs and with their input, prioritize and start to deliver on addressing those information and service improvement needs.

After 60 days or two period-end cycles, examine the Chart of Accountants, discuss any changes/adjustments with the GM and/or Founder and/or President and work to streamline and make improvements where appropriate.

Manage wholesale equipment financing lines of credit including reconciliation and managing payments.

Hands-on and with input from operations, regularly perform Cash Forecasting and Planning functions and effectively report needs to the Founder and President.

By 90 days, start to form positive business relationships with the existing banking, insurance and equipment financing suppliers. Learning what treasury function are required to run the business successfully. The incumbent will personally manage multiple bank accounts, lines of credit, availability, multiple currencies, forward contracts, settlements and wholesale finance credit lines.

Know and understand the numbers and stay on top of them so the Founder’s and/or GM’s questions about variances or potential errors are anticipated and/or quickly and accurately addressed. Work to solve the underlying problems rather than just simply making corrective journal entries.

After approximately 90 days, with the approval of the Founder, form more independent working relationships with the Bank and wholesale equipment financing credit suppliers. Further clarify their information and/or covenant requirements and actively work to ensure positive communications and relationship management and ongoing compliance.

By 120 days, run the accounting, financial reporting relatively independently, demonstrating positive reporting improvements in terms of accuracy and quality – thereby demonstrating significant headway/preparedness towards progressing up to the VP, Finance position. Begin to discuss and/or pursue hiring a CPA Accounting Manager or Controller.

By 180 days, have earned the confidence of the Founder, President, GM and the other members of the senior management team and the bank(s) so they feel comfortable that the financial stewardship and leadership requirements are meeting expectations. 

At or prior to approximately 210 days, under the supervision of, or in cooperation with, the Founder, demonstrate proactive, competent, leadership over the insurance contracts and banking/financing relationships and negotiations. 

At approximately 240 days, reach a fact-based ERP system decision – whether or not to make adjustments/improvements or recommend changing it out. If change is required, begin to research practical ERP solution options.

Via effective, accurate, hands-on, financial analysis, meaningfully assist the Owners with strategic thinking which contributes towards shaping the direction and focus of the business. Always help steer the business in the financial correct direction and thereby help keep things on a fiscally responsible path. 

Always protect operations by keeping financial information and plans confidential.

Annually (May 31st.year-end) liaise with and provide accurate and timely financial information to the external auditors and their corporate tax staff. 

Act as the lead on any government audit requirements.

After or at approximately one year, start to add KPI reporting and thereby formalize any regular ad-hoc reporting requirements.

Lead the production of the annual forecasts and any/all budgets.

Other tasks, projects and reporting requirements required of a Director, Finance – future VP, Finance looking to serve as a highly effective financial leader within an privately owned, profitable and heavy equipment sales, service and rental, growing business.