- Chief Financial Officer
- Reporting to the CEO
- Location: Central Pennsylvania / On Site
BSG has commenced an executive search for a Chief Financial Officer (CFO) for our client, a leading provider of specialized solutions in advanced energy, security, and lighting control systems for clients across public and private sectors, including healthcare, education, and commercial industries. Reporting to the President/Chief Executive Officer (CEO), the Chief Financial Officer (CFO) will be responsible for the day-to-day administrative and financial operations of the company.
Opportunity Overview
Chief FINANCIAL Officer
THE COMPANY
Our client specializes in providing advanced energy, security, and lighting control systems for clients across public and private sectors, including healthcare, education, and commercial industries. Their custom solutions focus on improving efficiency, reducing costs, and supporting sustainability while maintaining a strong commitment to customer service and community involvement.
THE POSITION
Reporting to the President/Chief Executive Officer (CEO), the Chief Financial Officer (CFO) will be responsible for the day-to-day administrative and financial operations of the company. This includes the development of a financial and operational strategy, and the ongoing development and monitoring of control systems designed to preserve company assets and report accurate financial results. It is also expected that the CFO will serve as a strategic advisor and partner to the CEO and company leadership, helping to drive the company’s performance by providing fact-based analysis and strategic financial direction. As an integral member of the Executive Team, the CFO will support the organization in improving sales growth through financial analysis.
Responsibilities
Operational Management
- Manage financial and business performance by developing appropriate metrics on which to measure the Company’s business, monitoring variances to forecasts, and developing action plans to address variances.
- Work with the operating team to identify and address trends, implement corrective actions and performance improvement actions.
- Manage the Treasury function, including cash management, cash forecasting, accounts receivable and accounts payable. Develop a reliable cash flow projection process and reporting mechanism to meet the operating needs of the company.
- Manage tax statement preparation with vendors as needed, for all related company activities.
- Maintain key relationships with insurance broker(s), ensuring awareness of all significant business developments and maintenance of appropriate coverage.
- Assess and proactively manage key banking relationships, ensuring the banking partners are aware of all significant business developments and partner on strategies to ensure company is always adequately funded.
- Analyze and value opportunities to sell or acquire business units. Facilitate due diligence reviews, should these transactions proceed beyond initial review, facilitating smooth transition and integration should transaction close.
Build Great Talent and Teams
- Contribute to the successful integration of the two business units.
- Mentor and develop a team of professionals, managing work allocation, training, problem resolution, performance evaluation, and the building of an effective team dynamic to support the combined business.
- Provide ongoing assessment and analysis of organizational needs, orchestrating leadership hires and necessary reductions as needed
- Ensure that financial information, analysis, and reporting is accurate, timely, reliable and relevant, in order to assist the Board, CEO, and Executive Team in effectively performing their responsibilities.
- Provide consistent and accurate financial forecasting and reporting for the company.
- Improve overall financial reporting to make it more efficient and impactful using the business intelligence platform (Foundation Software).
- Monitor capital requests and expenditures to ensure within budget and plan.
- Oversee all accounts, ledgers, and reporting systems, ensuring compliance with appropriate Generally Accepted Accounting Principles, revenue recognition and regulatory requirements.
- Maintain internal control safeguards and coordinate all audit activities.
- Ensure that the Company is in continuous compliance with all statutory, regulatory, banking, tax, and other external and internal operating, reporting and record keeping requirements to which the company is subject.
- Oversee budgeting and the implementation of budgets to monitor progress and present financial metrics internally.
Win in the Marketplace
- Contribute data-based strategies for expansion of the services business and other account services offerings.
- Manage current contracts and negotiate new and ongoing commitments.
- Manage ERP implementation from QuickBooks to Sage.
- Professionalize and unify employee and project time tracking technology.
Qualifications
Skills and Personal Characteristics
- Player/coach leadership style with a preference for collaborative, hands-on management.
- Private company experience in the last 10 years.
- Defined by others as, smart, capable, hands-on, energetic, and someone with a strong entrepreneurial/innovative spirit.
- History of building and creating a strong finance/accounting team within an organization.
- Collaborative, hands on executive who fosters consensus among leaders and teams.
General Competencies
This individual should have as many as possible of the traits required to succeed in this leadership position:
- High levels of intelligence, analytical strength, and conceptual ability.
- The ability, and willingness, to set and communicate high standards for professional staff and to hold people accountable for their performance; at the same time, sensitivity to, and insight into individuals’ capabilities and development needs, and the combination of firmness and likability that all good leaders possess.
- Decisiveness, when necessary, coupled with a willingness to seek input and build consensus.
- Excellent writing and speaking skills; this individual must be able to communicate complex ideas and information clearly and concisely.
- Outstanding planning and organization skills.
- Good strategic instincts and long-term vision; the ability to address both big-picture issues and detailed, day-to-day management concerns.
- A sense of ownership, not just of his or her own work, or that of their department, but a sense of ownership for the company.
- Demonstrated success as a people leader, including the ability to set and gain buy-in for strategic direction and vision, attract, hire, retain, and develop high performing teams, and establish an engaging culture of accountability, quality, and customer focus.
- Demonstrate professional behavior and actions consistent with company values.
EDUCATION/EXPERIENCE
Skills and Experience:
- Experience in building automation or similar commercial services (e.g., HVAC, fire safety, elevators, etc.).
- 10+ years of Financial Management experience required.
- Must have private / PE-backed company experience in a leadership role within the last 10 years.
- Must have experience reporting to the CEO.
- Operational responsibility experience with $40M - $100M revenue companies.
- Has built and managed finance/accounting teams.
- Proven experience in process strategy, organizational assessment, and implementation.
- KPI development and management.
- Experience working in service-based organizations with a significant nonexempt workforce.
- Experience with ERP systems (Sage preferred) and use of Business Intelligence tools.
- Proven track record of consistent success.
- Bachelor’s degree in Finance.
IDEAL CANDIDATE PROFILE
A summary of key competencies required to be successful include the following:
- Functional Experience
- Past CFO responsibility of services companies with revenue of $40-150M.
- Successful history meeting and exceeding KPI’s and key revenue metrics for organizations.
- Passion for and prior history of creating high performing teams.
- Industry Experience
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- Building automation integration and installation or similar commercial building control systems/services (e.g., HVAC, lighting, energy, security technology).
- Experience working with a mixed exempt/nonexempt workforce.
- Corporate Stage
- Builder/optimizer leader.
- Private company experience with at least 100+ employees.
- $40-150M+ company revenue experience.
- Management and Leadership Experience
- Experience working with Private Equity.
- Experience building and leading finance/accounting teams.
- Experience with the due diligence and integration of acquired companies.
Compensation
Compensation is competitive with the position’s requirements. In a performance-based environment, this will include base salary, bonus/commission structure based on individual and corporate qualitative and quantitative strategic KPIs, and equity participation.
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