- Chief Financial Officer
- Reporting to the President/Chief Executive Officer (CEO)
- Location: Midwest
BSG has commenced an executive search for a Chief Financial Officer (CFO) for our client, a cutting-edge construction and maintenance services company headquartered in the Midwest that serves municipal and commercial clients nationwide, specializing in underground infrastructure maintenance and optimization. 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 is a pioneer in the municipal & commercial infrastructure services space, specializing in underground infrastructure maintenance and optimization.
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.
Specific Responsibilities
- 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.
- 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.
- Provide ongoing assessment and analysis of organizational needs, orchestrating leadership hires and necessary reductions as needed.
- Provide consistent and accurate financial forecasting for the company.
- Improve overall financial reporting to make it more efficient and impactful using the business intelligence platform (Foundation Software).
- Automation of a project management “percentage completion” tracking and accounting system.
- Proactive management of lender covenant reporting.
- 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.
- 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.
- Oversee budgeting and the implementation of budgets to monitor progress and present financial metrics internally.
- Mentor and develop a team of professionals, managing work allocation, training, problem resolution, performance evaluation, and the building of an effective team dynamic.
- Assist the CEO and Executive Team in the development and execution of operating policies and procedures as needed.
Requirements
- Experience in construction/inspection services or a related industry.
- 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.
- Multi-state operational responsibility experience with $50-250M revenue companies.
- Has managed multi-functional teams of 10+ employees.
- Experience with M&A due diligence, execution, and integration.
- Proven experience in process strategy, organizational assessment, and implementation.
- KPI development and management.
- Experience with state/municipal surety bonds and exposure to labor unions will be especially helpful.
- Experience working in founder-led or family-owned businesses.
- Recruitment, selection, and on-boarding/training.
- Experience with ERP systems and various Business Intelligence tools.
- Proven track record of consistent success.
- Hands-on, forward-looking leadership, with a strong team focus.
- Bachelor’s degree in finance or related discipline.
General Competencies
Finally, 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.
Compensation
Compensation is competitive with the position’s requirements. In a performance-based environment, this will include base salary and bonus structure based on corporate qualitative and quantitative strategic KPIs and a commensurate equity position.
Team and Locations
The CFO will report directly to the President/CEO and will manage a team of approximately 15. This role will be on-site in the corporate headquarters and may require travel from time to time.
To Submit Resume:
