Company Overview
Berkshire Blanket & Home Company has been a leader in the textiles industry since 1993, starting with a single fleece blanket. With a commitment to quality and comfort, we have built a world-renowned brand known for our signature fabrics. Our mission is to keep families warm and cozy for generations, reflecting our New England roots.
Summary
We are seeking a Chief Financial Officer (CFO) to join our team at Berkshire Blanket. This pivotal role will oversee all financial operations, ensuring the company’s financial health while supporting our mission of providing quality home products. The CFO will play a critical role in strategic planning and financial management.
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 with regard to 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 profitability and working efficiency.
- Communicate, engage and interact with Board, CEO, Stakeholders, and Executive 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 executive leadership team and round table discussion panel.
- Participate in pivotal decisions as they relate to strategic initiatives and operational models.
- Interact with and bring department into line with Board of Directors’ plans, initiatives and recommendations.
- Implement policies, procedures and processes as deemed appropriate by senior leadership team.
Financial Analysis, Budgeting and Forecasting
- Prepare and present monthly financial budgeting reports including monthly profit and loss by division, forecast vs. budget by division and weekly cash flow by division.
- Review and analyze monthly financial results and provide recommendations.
- Identify, develop and execute analysis of business initiatives, product launches and/or new service offerings.
- Develop and maintain monthly operating budget and annual company operating budget.
- Manage financial planning and analysis department. Supervise creation of reports, software implementation and tools for budgeting and forecasting.
- Participate in weekly conference calls with Lenders, Vendors, Ownership, 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.
- 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 month-end close process, constantly reviewing procedures while eliminating inefficiencies.
- Oversee preparation of monthly, quarterly and annual financial statements.
- Review all month-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
- Hire, develop and manage accounting directors, managers and staff
- Serve as a key point of contact for external auditors; Manage preparation and support of all external audits.
- Coordinate and strategize methods used to attain team goals with Chief Executive Officer and other stakeholders.
Financial Management
- Manage cash flow planning process and ensure funds availability.
- Oversee cash, investments and asset management area.
- 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
- Engage finance committee and/or board of directors to develop short term and long term plans, projections and budgets.
- Represent company to banks, financial partners, institutions, investors, public auditors and officials.
- Remain current on audit best practices as well as state, federal and local laws regarding company operations.
Finance and Accounting Team Management
- Mentor and develop a team of 2 senior managers and/or directors, managing work allocation, systems training, performance evaluations, and the building of an effective and efficient team dynamic.
- Guide larger, cross-divisional teams outside of direct span of control within the three main company divisions.
Cash Management
- Oversee weekly cash management and AP Department, approve large payables, sign checks, authorize large wires and ACHs
- Supervise Accounts Receivable management and provide guidance relating to the collection process
Chief Financial Officer (CFO) – Position Requirements
- Bachelor Degree in Accounting or Finance
- CPA and or CMA Preferred
- MBA from top-tier business school preferred
- 6 years minimum experience as a CFO ($350 million+)
- 14+ years total accounting or finance experience
- Outstanding knowledge and understanding of GAAP.
- Background coordinating with I.T. staff to manage and/or upgrade accounting system. Systems implementation experience strongly preferred.
- “Hands On” ERP Systems experience preferred
- Outstanding communication and presentation skills.
- Demonstrated leadership ability, confidence and executive presence – ability to motivate staff.
- Excellent analytical, reasoning and problem-solving skills
- Significant experience working with external auditors, internal controls and compliance-related issues.
Additional Considerations for the Ideal Candidate
The role of a CFO goes beyond simple finance and accounting; it requires a deep understanding of the business, strategic thinking, and leadership capabilities for a workforce that is a mix of onsite, and remote. A CFO must also have a solid grounding in risk management, regulatory compliance, and business planning.
Experience and Qualifications:
The CFO role requires a high level of experience and professional qualifications. Candidates must have a strong track record of 8+ years in finance, preferably with specific industry experience. Preference will be given to candidates with advanced degrees and/or certifications such as an MBA or CMA.
Cultural Fit:
Beyond technical skills and experience, it's important to find a CFO who fits well with the company's culture and shares its values. The CFO is a key member of the executive team and needs to work well with other leaders, employees, and stakeholders. The ideal candidate will be willing and able to travel into our offices (Currently Ware, MA – soon to be Worcester, MA) on a regular basis.
Vision and Strategy Alignment:
The CFO needs to be able to contribute to and support the company's strategic goals. They should be capable of working collaboratively with the CEO, the board, and other stakeholders to shape and implement the company's vision.
Expectations and Compensation Alignment:
Aligning the expectations of the role, including workload, responsibility, and compensation, will allow us to be more granular in our search. We do not want to simply hire the right candidate, we also care deeply that we are able to retain the right talent in the long term.
If you are ready to lead the financial strategy of a beloved brand and contribute to our mission of comfort, we invite you to apply for the Chief Financial Officer position at Berkshire Blanket!
Job Type: Full-time
Pay: $170,000.00 - $215,000.00 per year
Benefits:
- 401(k)
- 401(k) matching
- Dental insurance
- Employee assistance program
- Employee discount
- Flexible spending account
- Health insurance
- Health savings account
- Life insurance
- Paid time off
- Vision insurance
Schedule:
Ability to Commute:
- Ware, MA 01082 (Preferred)
Ability to Relocate:
- Ware, MA 01082: Relocate before starting work (Preferred)
Work Location: Hybrid remote in Ware, MA 01082
