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About the Company
Headquartered in southwestern Ontario, our client is a profitable and well-established tier 1 automotive manufacturer with operations across North America. In keeping with its successful strategy of aggressive long term operational excellence and growth, our client now seeks to align its executive leadership capabilities by hiring a new Chief Financial Officer (CFO).
Scope of the Position
Reporting to the Chief Executive Officer, the CFO will be responsible for overseeing all financial reporting and results for the company.
More specifically, the CFO will be accountable for the administrative, financial and risk management operations of the company, including the continuing refinement of its financial and operational strategy, metrics tied to that strategy, and the ongoing development and monitoring of control systems designed to preserve company assets and report accurate financial results.
Functional Tasks
- Act as a key business partner to the CEO and the operating teams providing financial guidance and counsel on all matters relating to the finance function including strategic business planning, budgeting and forecasting, business analysis, and corporate growth strategies. Take ownership for results along with the management team.
- Provide hands-on leadership, guidance, mentorship and performance management to the finance staff in the organization. Oversee and manage the accounting, tax, insurance, budget, credit and treasury and capital structure functions ensuring that the interests of all stakeholders are served.
- Review and in collaboration with the CEO direct capital allocation.
- Implement/refine rigorous and appropriate product cost management systems, controls and dashboards to ensure timely and accurate capture and analysis of all input costs, including, raw materials, labour and overhead allocation.
- Oversight and management of all ongoing hedging and foreign exchange requirements.
- Oversee and manage intercompany funding to ensure bank and debt facility compliance.
- Leverage a detailed understanding of ‘what’s driving the numbers’ to act as a key strategic and operational contributor to the overall growth of the business.
- Play a key role in M&A processes, supporting staff with strategy, due diligence, transactions and integrations.
- Ensure appropriate internal controls are in place for the benefit of all stakeholders.
- Manage relationship with audit firm for annual audit/income tax activities and all related matters.
- Oversee the management and coordination of all fiscal reporting activities for the organization including, organizational revenue/expense and balance sheet reports.
- Serve as a champion for enterprise excellence and the maximizing of value creation.
- Ensure that finance organization is structured and sized so as to be optimally aligned to the needs of the business.
- Oversee all payroll activity for staff and participants.
- Manage banking and other stakeholder relationships.
- Manage financial relationships/contracts with suppliers, customers and partners along with the CEO and other team members.
- Ensure compliance to statutory and regulatory reporting requirements.
- Effectively manage the company’s cash and securities positions and drive any supplementary initiatives deemed necessary by the company.
- Remain informed about the business, refine and put measurements, reporting dashboards and KPIs into place enabling real time assessment of performance and ‘what’s over the horizon’.
- Ensure adequate cash flow to meet the organization’s needs.
Competency Profile
The following competencies listed below define the role of CFO:
Commercial Acumen
Applies appropriate commercial and financial principles. Understands situations in terms of costs, profits, added-value and return on investment. Appreciates the commercial impact of own work on the organization’s total expenses and revenues.
Strategic Approach
Develops a strategic plan to realize the vision. Revises strategy in light of changing circumstances. Takes a long-term view of organizational success. Works to clarify long-term organizational goals. Able to stand back from immediate problems in order to focus on more far reaching ideas.
Planning & Objective Setting
Systematic in approach to work. Produces action plans in which objectives are defined and steps for achieving them are clearly specified. Plans by breaking down large task into subtasks. Develops plans that anticipate obstacles. Is realistic about time-scales and builds in appropriate checkpoints, milestones and controls in order to ensure that desired results are realized.
Results Orientation
Focuses strongly on achieving agreed upon outcomes and ensures that key objectives are met. Conveys a sense of urgency and drives issues to closure. Aims to improve upon past performance. Establishes aggressive personal targets and strives to achieve them..
Information Seeking
Consults widely for business or technical advice, probes for facts and obtains information from a wide variety of sources. Differentiates the critical from the irrelevant or trivial.
Problem Solving
Draws parallels across situations and contexts. Divides problems into their individual elements. Develops several explanations or alternatives. Separates the core of a problem from its symptoms and can identify cause and effect.
Preferred Experience and Education
The following indicates specific industry, academic and functional experience/qualifications that are important to the successful achievement of the identified responsibilities and performance deliverables.
- A highly intelligent, strategically minded executive with superb communication and interpersonal skills possessing a CPA.
- An ‘own it, solve it’ mindset with a willingness to roll-up his/her sleeves.
- Strong team orientation, well-suited to building consensus in a growing concern.
- Southern-Ontario based or willingness to relocate to Southern Ontario.
- 7-10 years of senior financial management experience in automotive manufacturing is a must.
- A metrics driven individual with attention to detail combined with solid operational skills and experience.
- The ability to put value creation into perspective and know what makes the business tick – a strong business understanding.
If interested, please contact:
Sal Rocco
StoneWood Group