Topic: Chicago (Suburban), IL
Chief Financial Officer – PE Owned Leading National Wholesaler of Commercial, Residential and Electronic Access Control Door Hardware and Security Products and Services
Kansas City, MO
Any interested parties should email me directly at email@example.com. Don Hillier CEO
Harvest CFO has been retained to deliver a highly skilled CFO for a private equity (PE) owned, growth-focused leading national wholesaler of commercial, residential and electronic access control door hardware and security products and services. Headquartered in Kansas City, Missouri, with distribution centers in California, Pennsylvania, Texas, South Carolina, Florida, and Indiana this company has an extensive inventory of all major brands of products in the industry and the largest next day footprint in the door hardware industry. Currently generating approximately $125MM in annual revenues with solid profitability, this company has a strategic plan of continued growth through both add-on acquisitions as well as organic growth via customer, product and geographic growth initiatives. This company has a track record of success built on integrity, authenticity, and consistency in delivering value to their customers and subscribes to a culture that is steeped in entrepreneurial spirit, customer service and employee engagement.
The CFO role has primary day-to-day “hands on” responsibility for planning, implementing, managing and controlling all financial and operational reporting. This includes direct responsibility for accounting, finance, forecasting, FP&A, capital expenditure analysis, working capital management, treasury, tax, insurance, budget, real estate leases and internal audit functions. The CFO role will have direct oversight of accounting and finance and IT and will play a key leadership role as to ERP, financial and operational management systems and process improvements. The CFO will be tasked to assess financial performance across all product and service offerings and lead initiatives towards improving profitability, cash flow and liquidity. The CFO is expected to maintain strong systems and controls to safeguard corporate assets and ensure corporate policies are being followed. The CFO is also responsible for managing ongoing banking relationships including covenant reporting.
The CFO role is a critical tactical and strategic executive position working collaboratively with the company’s CEO and Board to execute on the strategic plan. The CFO position is a key leadership role in the management of the company as well as in the development and execution of the company’s short and long-term strategies. The CFO is expected to be a true “business partner” and work effectively across all functional areas of the company. The CFO is expected to be a positive impact across the company and partner with leadership to enhance the company’s culture internally as well with customers, suppliers and key third parties.
This role provides a competitive compensation and benefit package including equity participation.
Harvest CFO LLC www.harvestcfo.com is a premier provider of highly skilled financial leaders to private equity portfolio companies for permanent and interim roles.
1. Direct industry experience in a distribution/wholesale environment; construction or building material products preferred.
2. Successful experience:
• as a financial leader who is both “hands on” and “scalable” in a multi-location commercial operations environment with revenues of at least $150MM with proven ability to manage growth;
• leading finance for a private equity portfolio company or similar experience;
• managing inventory cost levels and third-party logistics costs in a multi-warehouse environment;
• partnering with the management team in a business with multiple sales channels to implement pricing best practices across multiple channels to maximize revenue and profit opportunities;
• developing a high performing financial planning and analysis (FP&A) function including implementing/managing an effective, metrics-based (KPI) reporting package/process and a robust customer and vendor data analytics reporting process;
• managing treasury functions including cash flow and working capital forecasting and liquidity planning;
• as a change leader/manager advancing financial management best practices across the business;
• working as a business partner across all functions of an organization;
• leading systems evaluation, improvements and upgrades of ERP systems;
• managing lender relationships and requirements contained within credit agreements including financial reporting, cash forecasting, borrowing base and covenant reporting;
• as a business partner with the executive team, PE Firm and management team to achieve targeted results and development
and execution of the strategic plan;
• in a leadership role as to acquisition due diligence and post-acquisition integration including building a shared/centralized
services team, including monitoring progress towards targeted synergies and cost savings;
• leading finance through a successful company sale transaction including CIM, data room, roadshow, etc. to support the sale and
subsequent due diligence process by the buyer.
3. Reports directly to the company’s CEO and presents to the Board.
4. Reports to the CFO:
• Accounting and Finance
• Oversight of IT
5. CPA license and/or MBA is preferred but not required
Primary Ongoing Functions and Skillsets:
1. Leads the company-wide development and implementation of goals, policies, priorities, financial strategy, linked metrics and procedures
concerning financial and operational management including budgeting, accounting and FP&A.
2. Establishes sound internal financial management control systems and develops procedures to improve internal control systems.
3. Initiates and optimizes appropriate strategies to enhance cash flow, working capital and liquidity in a levered environment including
inventory management and appropriate governance around key working capital components – AR, AP, Inventory, etc.
4. Develop/lead a robust forecasting process to provide reliable forward-looking insights and a budgeting function that improves
department accountability and current operating results.
5. Leads preparation of ongoing required financial statements and operating reports ensuring compliance with appropriate GAAP standards
and regulatory requirements.
6. Reviews financial statements and operating reports with all relevant stakeholders.
7. Oversee and ensure timely and accurate processing of transactions and accounting data and ensure legal and regulatory compliance
regarding all financial functions.
8. Manage annual audit and auditor relations including coordination with CPA firm of preparation of external audit materials, external GAAP
financial reporting and all tax compliance.
9. Prepares quarterly Board package and makes Board presentations.
10. Responsible for Monthly Business Review package and ownership and delivery of review to BOD and Management team members.
11. Responsible for building yearly operating plan within three-year strategic plan framework.
12. Preparation/analysis of daily/weekly/monthly reports of key financial and operational metric trends including cash flow forecasts.
13. Assess organizational performance against budgets with functional leaders and management team.
14. Manage banker relationships including monitoring compliance with any debt covenants as well as building Quarterly business review
financial package for senior lender reviews.
15. Develop and manage a high performing accounting and finance staff within appropriate budget constraints for a business of this nature.
Quality Management and Improvement
16. Proactively focuses on continuous improvement in accuracy and timeliness of ongoing management financial, operational reporting, and
accounting and finance processes.
17. Identification and implementation of company profit improvement opportunities:
a. Improvements in operating margins by product line.
b. Improvements in operating margins by business segment or sector of customers.
c. Experience in identifying and implementing cost efficiencies to add value.
Strategic and Analytical
18. Displays orientation to profitability and aligns finance with strategic goals.
19. Analytical abilities and solid communication skills as to what is driving the results.
20. Provide management team with business forecasts that convey timely insights as to prospective profit impacts of changes in selling
prices/volumes and/or cost reductions as needed and as market conditions dictate that enable better management decision making.
21. Provide financial support to the executive team in key decision making as it pertains to pricing strategies, new product/channel/customer
launches, opening/closing regional distribution centers and other strategic initiatives.
22. Develop and manage processes and systems to provide management team with timely financial and operational information concerning
company performance compared to strategic/operation plan and make actionable strategic and tactical recommendations.
23. Continuous focus on improving EBITDA and communication of strategies and executable action plans to management team.
24. Preparation and communication to management of capital budgets when necessary to justify prospective investments.
25. Establishes credibility throughout the organization as an effective developer of solutions to business challenges.
26. Ability to build solid working relationships across the organization including with management, workforce, customers, suppliers and key
IT and Technology
27. Proficiency with IT (e.g. ERP Epicor Prophet 21 or similar technology preferred), business intelligence tools (e.g. MITS) and can leverage IT
to gain competitive efficiencies.
28. High proficiency with Excel and proficiency with all MS Office applications.
Other Functions and Useful Skillsets
1. Review contracts and approve financial terms.
2. Understanding of quality initiatives such as six sigma, lean or similar concepts.
3. Working across the organization to improve the inputs/quality of data to the finance organization to better assess work volume and/or
performance/profit leakage —pricing, quoting, credit terms, customer returns/charge backs, etc.
4. Risk management including appropriate tax, insurance and legal aspects/strategies to preserve and enhance company assets and growth
5. Partner with VP of HR to build teams, evaluate and establish appropriate compensation/benefit structures, including incentive plans and
sales compensation structures across group that link with and have potential to enhance company performance.
Key Personal Attributes:
• Strong Leadership: A Proactive and Passionate Advocate for the Business.
• Exceptional Technical Skills Tailored to the Business.
• Sense of Urgency: “All Hands On Deck”.
• A Proactive Partner with leadership and management team.
• Ownership of and passion for the numbers and competence around diving into the details (when appropriate).
• Exhibits confidence in self and others; Inspires and motivates others to perform well.
• Effectively influences actions and opinions of others; Accepts feedback from others; Gives appropriate recognition to others.
• Creates a sense of team spirit and helps to create a positive work environment.
• Ethics: Treats people with respect, keeps commitments; works with integrity and ethically. Upholds organizational core values.
Follows through on commitments.
• Strategic Thinking: Develops strategies to help achieve departmental and company goals.
• Oral/Written Communication Skills: Speaks/writes clearly and persuasively in positive or negative situations. Listens and gets
• Actively participates in meetings. Presents himself/herself in a well-groomed professional manner.
• Innovation: Displays original thinking and creativity. Meets challenges with resourcefulness, generates suggestions for improving
work and develops innovative approaches and ideas.
• Adapts to changes in the work environment, manages competing demands, changes approach or method to best fit the situation,
able to deal with change, delays or unexpected events.
• Strong organizational skills: versatile and able to manage multiple projects simultaneously with competing deadlines.
• Strong work-ethic, detail-driven and a commitment to doing whatever it takes to get the job done.
• Demonstrates exceptional follow through.
• Occasional travel to company locations, board meetings, etc.