VP, Finance – Future COO/President

Our customer has a family friendly business culture consisting of variety of profitable, Owner managed, businesses. The main business, a logistics company, struggled recently but will return to profitability by Q4 of this year. The head office is located in beautiful Halton Hills, Ontario – with the logistics main business unit located just over the border near Niagara Falls, New York. Started by the Owner/CEO in 2003, the company has evolved into a diverse group of businesses focused on making people’s lives better in a fiscally responsible way. The logistics business is anticipated to double in size next year.

The VP, Finance – future COO/President position is a new role; created to help the entrepreneurial Owner/CEO by leading the financial, banking relationship and strategic planning aspects of the business today, help profitably grow the overall business and then generally manage things when the Owner/CEO chooses to focus most of his attention towards the children’s charity supported by the business – Hope Thailand. This VP, Finance – future COO/President position reports directly to the Owner/CEO, involves regular travel over the border to the Niagara Falls, New York area and to the head office in beautiful Halton Hills, Ontario. Remote computer access is will be provided so the incumbent may work from home where appropriate. There is a direct report Controller at the Halton Hills head office who will appreciate the VP, Finance‘s direction and guidance regarding how best to further improve the financial processes and reporting timelines and there’s a team of six Accounting staff at the New York State facility who are looking forward to contributing their input towards improvements and similarly benefiting from the VP, Finance‘s process improvement expertise. Enhancement of accurate and timely monthly financial reporting processes, cash-flow analysis and management, bank relationship leadership, strategic planning & budgeting and M&A analysis are the hands-on focus of the incoming VP, Finance. Once those vital functions are effectively improved and/or established and knowledge about and contributions to the businesses sufficiently developed, the VP, Finance will come under serious consideration for promotion to COO or President.

The salary range for this VP, Finance position is $120,000 to $140,000, (dependent upon candidate successful experience working as a financial leader within a rapidly growing, entrepreneurial, work environment – ideally) $1,000 annual medical/dental benefit, payment of annual CPA membership & training/P.D. fees, profit sharing and an equity position after approximately one year of service.

If you are or know of a hands-on with Microsoft Excel Chartered Professional Accountant business leader who can effectively facilitate the improvement of financial reporting and administration processes by guiding and motivating staff, communicate effectively with bankers and perform due diligence regarding business acquisitions, please arrange for a resume to be sent to client0620@financialinterviewer.com e-mail subject line: VP, Finance Application by July 8.

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

Position Behaviours

  • Use researched, factual, information when solving problems and apply logic when handling hands-on analysis utilizing Microsoft Excel (V Look Up and Pivot Table skills required) and conflict.
  • Seek ways of raising financial standards, reducing errors, improving efficiencies and overcoming omissions.
  • Bring a sense of urgency to situations, demonstrate an active approach, be willing to get personally involved in order to increase the pace and achieve goals and objectives.
  • Develop trust in people and be willing to smooth relationships with a passionate about the business and its people Owner/CEO and generally advise and assist him and the management team.
  • Be confident, but never arrogant, when dealing with people and encourage them to come up with imaginative solutions to difficult problems.
  • Assert authority, where necessary, in order to meet agreed time frames and deadlines and overcome any problems which may get in the way of their achievement.
  • Set tough objectives, monitor progress and if necessary take corrective action and generally control the performance of both self and others.
  • Make business decisions in a timely and appropriate manner while at the same time ensuring others follow similar principles.
  • Remain assertive, respectful if/when others and/or customers become pessimistic and provide satisfactory and acceptable outcomes in situations which involve the new and unexpected.
  • Have drive, assertion and excellent communication skills in English (oral and itten) and effectively communicating in a logical, professional, manner.
  • Be prepared to meet and overcome opposition and resistance to ideas and respectfully pressure others when deadlines have to be met.
  • Effectively multitask in a business environment full of variety and change while working within the broad parameters of the organization.
  • Bring a friendly approach and the ability to influence and persuade the Owner/CEO and others.
  • Be a self-starter, competitive, imaginative, enthusiastic, self-confident, inspiring. logical, systematic and precise.
  • Always bring strong, positive, business values and ethics and the ability to implement and/or maintain controls appropriate for an owner managed, business.
  • Encourage staff and others to communicate effectively and through example and expertise create a participation focused and involved, team, atmosphere.
  • Quickly learn and effectively use the Quickbooks software solution. Consider other, more robust, computer solutions when/where appropriate.
  • Always and only be honest, ethical, up-front and respectful during all verbal and written communications with everyone inside and outside the organizations. And, never tell the Owner/CEO about a problem that you haven’t first thought about so solution options are also offered.
  • When mistakes are made, (we are all human) always take personal ownership. The Owner/CEO has a positive, ‘We can fix anything’, attitude and sees taking personal accountability as the only way to move forward with trust and confidence in tact.
    Position Responsibilities
  • Upon arrival, travel to and invest time in the various businesses, learn about the people, processes and reasons why and how things are done they way they are. Delve into the current processes for A/R and A/P in particular, financial reporting and summary analysis work and meet and form positive relationships with the external accountants who perform Notice-to Reader and/or Review work for the various companies.
  • Within 30 days, assume total oversight of the financial and accounting processes and then begin to professionally lead and guide the Controller in Halton Hills and the Accounting staff near Niagara Falls, New York (6 staff there including the Office Manager direct report) towards improved accounting processes and greater efficiencies and enhanced controls. Thereby streamline A/R, A/P and other financial procedures so monthly reporting timelines are shortened and thereafter consistently maintained. Actively work to get everything caught up, A/R and A/P running more efficiently and, for the logistics business, in full compliance with banking covenant requirements for the US bankers.
  • Within 60 days, meet with the US bankers, learn of their needs, form trust based relationships and maintain those relationships in preparation for capital funding needed for future business and facilities expansion.
  • With input from the Controller, establish and personally perform monthly Cash Flow Management and reporting functions. Don’t just bringing cash issues to the attention of the Owner/CEO – deliver practical and financial astute solutions. Understand and prepare for the short and long term cash needs of the businesses and what’s needed to accomplish fiscally responsible business growth – both organic and via M&A.
  • At approximately 90 days, develop a formal plan to improve current financial and reporting processes, procedures and controls. Once approved by the Owner Manager CEO, influence staff regarding the need for the approved changes, why and what the benefits for each business unit will be when more-timely, monthly, reporting is realized and then work with and train staff to implement and maintain the new performance requirements.
  • After 120 days, form and maintain positive Canadian banking relationships in preparation of an eventual acquisition of an Ontario logistics business and facility.
  • Between 150 and 240 days, evaluate, recommend and once approved by the Owner/CEO, implement a formal plan to adjust the staff at the New York State logistics accounting department – including as to whether or not an US Financial Controller should be added and, if so, when and how much that will cost.
  • Earned the confidence of the management team and staff so they feeling comfortable presenting issues, opportunities, etc. to you instead of the Owner/CEO. Do that by helping the management team to move forward and see the potential for an even greater, more successful, future.
  • Help the Owner/CEO with strategic planning and to shape the direction and focus of the companies. Financially lead the companies in the right direction and help keep things on the right, fiscally responsible yet still enterprising, path. Assertively give recommendations to the Owner/CEO as to where best to focus his attention within the businesses and thereby responsibly influence the pace of the Owner/CEO’s new business ideas, objectives and initiatives – even when the Owner/CEO initially disagrees.
  • By 180 days, start preparing the 270 day management review reporting for the Owner/CEO.
  • Through effective information gathering and communication, at approximately 210 days, have made inroads towards removing the financial stress of not knowing from the Owner/CEO and demonstrate competence as a trusted adviser and assertive communicator. The Owner/CEO is a business driver with a passion for sales and typically requires convincing when ideas run in a different direction than his initial perspective.
  • At or soon after 210 days, in conjunction with and under the guidance of the Owner/CEO, facilitate the assembly of business plans for each business unit and then, with analysis from the Controller, monitor variances and assist the business unit leaders in enhancing the efficiency of each operating company. Budgeting and forecasting will be essentially new exercises for the management team and will need to be effectively explained and introduced within a business culture that has traditionally focused primarily on customer and staff needs and satisfaction.
  • Around 240 days, begin to help shoulder the emotional tax of dealing with negative issues within the businesses when they occur – thereby walking alongside of the Owner/CEO. Know that the Owner/CEO is on your side, even when you disagree or need to assertively communicate opinions and issues.
  • At 270 days, present the management review report to the Owner/CEO.
  • Under the supervision of the Owner/CEO, begin to take over responsibility for the insurance contract(s) and renewal negotiations and related relationship management.
  • At approximately 365 days, in cooperation with the related business unit leader(s), diligently work, hands-on, to develop future formal business plans and budgets and present to the Owner/CEO for review, revision and approval.
  • Annually, liaise with and provide accurate and timely financial information to the external accountants for Notice-to-Reader or Review and tax compliance purposes.
  • Other tasks, projects and reporting requirements required of a senior financial professional looking to serve as a highly effective process improvement, staff leader and key financial professional team leader within an Owner managed, rapidly growing, group of businesses.