The Chief Financial Officer (CFO) is a key member of the executive leadership team responsible for all financial strategy, planning, reporting, and operations for a privately held media production company with operations in the US and Europe. This role reports to the COO and partners closely with the executive team and board to drive profitability, manage cash and risk, lead FP&A and production finance, support greenlighting decisions, and ensure the company has the capital and financial infrastructure to scale.
Key Responsibilities:
Financial Strategy, FP&A, and Leadership
- Develop and execute the company’s long‑term financial strategy aligned with overall business goals and the production slate.
- Serve as strategic advisor to the COO and leadership team on growth, profitability, and capital allocation decisions.
- Lead the FP&A function, including development of financial models, scenario analysis, and business cases to support strategic initiatives, new content verticals, and market expansion.
- Translate strategic goals into measurable financial targets and operating plans, ensuring resources are aligned with the most valuable projects, clients, and platforms.
Budgeting, Forecasting, and Performance Management (FP&A)
- Own the annual budgeting process and rolling forecasts across all business units, productions, and overhead functions.
- Build and maintain project‑level and company‑level P&Ls, tracking performance against budget and key KPIs (e.g., margin by project, utilization, overhead ratios, cash conversion).
- Design and maintain robust FP&A tools and models to forecast revenue, margins, headcount, and cash flow under multiple scenarios.
- Provide timely, insight‑driven financial analysis and dashboards to inform decision‑making for leadership, producers, and department heads.
- Partner with production, sales, and operations leaders to monitor performance vs. budget and forecasts, identify variances, and drive corrective actions.
Production Finance and Project Costing
- Oversee production finance for all projects, including budgeting, cost tracking, and cost reporting.
- Establish and enforce standards for production budgeting, cost control, and reporting (e.g., cost reports, EFCs, variance analysis).
- Partner with production leadership to evaluate project viability, cash flow needs, risk/return, and to provide greenlight recommendations grounded in data.
- Ensure compliance with union/guild requirements, incentives, and co‑production or financing agreements as they relate to budgets and reporting.
Accounting, Reporting, and Controls
- Oversee all accounting operations, including general ledger, AP/AR, payroll, revenue recognition, and month‑end close.
- Ensure accurate and timely financial statements in accordance with GAAP, tailored to a privately held ownership structure.
- Design, implement, and maintain robust internal controls, policies, and procedures to safeguard assets and ensure audit readiness.
- Manage relationships with external auditors, tax advisors, and other professional service providers.
- Lead preparation and delivery of clear, insightful financial reporting to the board, including monthly/quarterly financials, cash forecasts, KPI dashboards, and variance analysis.
Cash Management, Financing, and Capital Structure
- Manage cash flow, working capital, and liquidity to support an uneven production cycle and payment schedules from networks/streamers/brands.
- Oversee banking relationships, production financing facilities, and lines of credit; negotiate favorable terms for the company.
- Evaluate and structure production financing deals, tax credit/incentive monetization, and third‑party co‑financing arrangements.
- Support ownership with capital planning, distributions, and long‑term value creation for shareholders.
Risk Management, Legal, and Compliance (Financial)
- Identify and manage financial risks related to productions, contracts, currencies, and counterparties.
- Oversee appropriate insurance coverage (e.g., E&O, production insurance, D&O) in coordination with legal and production.
- Ensure compliance with relevant financial, tax, and regulatory requirements in all jurisdictions in which the company operates.
Leadership, FP&A Team, and Development
- Build, mentor, and lead the finance and accounting organization, including FP&A, Production Finance, and core accounting (e.g., Controller, FP&A Manager, Production Finance, Payroll).
- Implement scalable processes, systems, and tools (e.g., ERP/accounting, production finance software, planning and reporting tools) to support growth and more sophisticated FP&A capabilities.
- Foster a culture of accountability, transparency, and partnership between finance and creative/production teams, ensuring FP&A is viewed as a proactive business partner rather than a back‑office function.
ERP (Enterprise Resource Planning) Systems
- Own the strategy and roadmap for the company’s ERP environment, ensuring it effectively supports finance, HR, production, and resource planning needs.
- Partner with HR, production, and operations to ensure ERP usage, permissions, and reporting structures align with organizational design and growth plans.
Accounting, Reporting, Controls, and GAAP Compliance
- Oversee all accounting operations, including general ledger, AP/AR, payroll, revenue recognition, and month-end close.
- Ensure accurate and timely financial statements prepared in accordance with U.S. GAAP standards, with proper revenue recognition for advertising contracts, production costs, licensing, and deferred revenue.
- Maintain GAAP compliance for complex media transactions including deferred revenue from upfront ad placements, prepaid media buys, content production capitalization, and talent/production cost classifications.
Qualifications
- Bachelor’s degree in Finance, Accounting, Business, or related field required; MBA and/or CPA preferred.
- 10–15+ years of progressive finance and accounting experience, including leadership of a finance function.
- Significant experience in media/entertainment, production, or a closely related content‑driven business (film, TV, streaming, advertising production, or digital media).
- Demonstrated track record leading FP&A, including ownership of budgeting, forecasting, financial modeling, and KPI development.
- Strong background in production finance and project‑based accounting, including managing multiple concurrent productions and complex client/partner structures.
- Strong command of GAAP and experience with audits, tax, and compliance for privately held companies.
- Hands‑on experience with P&L management and building decision‑ready dashboards and analysis for executive and board audiences.
- Experience managing banking relationships, credit facilities, and ideally production financing structures and tax incentives.
- Proven leadership and team‑building skills, with the ability to communicate effectively with both creative and non‑financial stakeholders.
- High integrity, sound judgment, and the ability to operate as both a strategic partner and a roll‑up‑your‑sleeves operator.
Reporting & Compensation
- Reports to: COO (and Board).
- Direct reports may include: Controller, FP&A Manager, Accounting Manager, Payroll Manager, and related staff.
