An expanding business in the food service sector is seeking a CFO to further their strategic decision making capabilities based on financial assessments, investments, and business growth.
Role with the Company:
Strategy, Planning and Management- Act as Chief Financial Officer and strategic business partner to senior executive leadership team.
- Assess and evaluate financial performance of organization regarding long-term operational goals, budgets and forecasts.
- Provide insight and recommendations to both short-term and long-term growth plan of organization.
- Identify, acquire and implement systems and software to provide critical financial and operational information.
- Evaluate departments and make suggestions for automating processes and increasing working efficiency.
- Communicate, engage and interact with the Owner, President and Leadership Team.
- Create and establish yearly financial objectives that align with the company's plan for growth and expansion.
- Select and engage consultants, auditors and investors.
- Recruit, interview and hire finance, accounting and payroll staff as required.
- Serve as a key member of the executive leadership team and round table discussion panels.
- Participate in pivotal decisions as they relate to strategic initiatives and operational models.
- Implement policies, procedures and processes as deemed appropriate by senior leadership team.
Financial Analysis, Budgeting and Forecasting- Assist in preparation and present monthly financial budget reports including period profit and loss, forecast vs. budget and weekly cash flow.
- Review and analyze period financial results and provide recommendations.
- Identify, develop and execute analysis of business initiatives, product launches and/or new service offerings.
- Develop and maintain the monthly and annual company operating budget.
- Create reports, software implementation and tools for budgeting and forecasting.
- Participate in monthly conference calls with Lenders, Vendors and Executive Leadership Team.
Accounting, General Ledger, Administration and Operations - Supervise the accounting department to ensure the proper functioning of all systems, databases and financial software.
- Provide regular maintenance and backup of all accounting systems and supervise company financial staff.
- Manage third party relationships with outsourced accounting provider to ensure timely and accurate financial statements within 5 days of the period end.
- Review and ensure the application of appropriate internal controls and financial procedures.
- Oversee the preparation and communication of weekly, monthly and annual financial statements.
- Oversee the preparation and timely filing of all local, state and federal tax returns.
- Work with Human Resources to ensure appropriate legal compliance.
- Oversee the period, quarterly and annual financial statements.
- Review all period-end closing activities including general ledger accounts, balance sheet accounts and overhead cost allocation.
- Enhance and implement financial and accounting systems, processes, tools and control systems.
- Serve as a key point of contact for external auditors; Manage preparation and support of all external audits.
Financial Management- Manage cash flow planning process and ensure fund availability.
- Oversee cash, investments and asset management.
- Explore new investment opportunities and provide recommendations on potential returns and risks.
- Maintain outstanding banking relationships and strategic alliances with vendors and business partners.
- Utilize forward-looking models and activity-based analyses to provide financial insight into the organization's plans and operating budgets.
Financial Relations and Policies- Represent the company to banks, financial partners, institutions, investors, public auditors and officials.
- Monitor Smart Safe implementation project, and ongoing vendor relationship.
- Bonus Plan administration.
- Oversee company credit card process.
- Remain current on audit best practices as well as state, federal and local laws regarding company operations.
- Guide larger, cross-divisional teams outside of direct span of control within the company divisions.
Cash Management- Oversee weekly cash management and AP Department, approve large payables, sign checks, authorize large wires and ACH's.
- Supervise Accounts Receivable management and provide guidance relating to the collection process.
- Significant experience working with external auditors, internal controls and compliance-related issues.
Background Profile:
- Bachelor's degree in Accounting or Finance required
- Advanced degrees in Accounting or Finance preferred
- CPA preferred but not required
- Experience in Real Estate, Retail, Food & Beverage, or Franchise Operations strongly preferred
- Strong financial acumen to include an understanding of financial analysis, growth and profitability, forecasting and strategic planning.
