Vice President

Our Kitchener/Waterloo/Guelph area customer is a large, award winning, profitable and expanding, Canadian business. The incoming, Vice President - Finance will be required to lead both the Finance and IT teams, take the lead on the bank financing required for an upcoming major expansion and oversee Board reporting, corporate budgeting/planning and the staff management and development required to successfully navigate future growth. This is not a cleanup accounting processes position. This is a next steps for the company senior financial leadership and management of growth and refinement of already good processes career opportunity.

While maintaining the current efficiency of the four-day-close plus reporting on day five, the President is looking to add an experienced senior financial professional business leader to effectively lead and manage the bank financing (banking syndicate formation and relationship leadership skills required), run the day-to-day accounting and reporting (including budgeting/forecasting, business analysis, costing and internal controls monitoring & development) and effectively guide the structure, focus and planning of both the Finance and IT teams. Successful candidates will have bank financing experience, refined skills at effectively leading, managing, coaching and motivating Finance and some experience leading IT or another non-accounting function. A formal background in IT is not required. Significant preference will be given to applicants who are experienced in a manufacturing or production environment.

The Vice President - Finance position reports directly to the President. The President is a highly experienced executive who has led the company to be recognized as one of Canada's Best Managed Companies. The company has a dynamic, people-first, family-like, culture.

The salary range for this Vice President - Finance position is $275,000 to $325,000 plus comprehensive benefits (including annual CPA/CFA and training fees cost reimbursement) and an opportunity to earn a performance based bonus (60% based on company and market performance and 40% based on personal performance).

If you are or know of a hands-on CPA or CFA senior financial leader who puts people first, is detailed with numbers and personally good at leading financing projects, doing hands-on financial analysis and effectively handling Board level presentations and questions to savvy Board members, please arrange for a resume by December 6, 2024. 

Position Responsibilities:

Upon arrival, analyze and evaluate existing financial reporting, product costing/cost accounting, Metric/K.P.I. reporting and internal control processes and begin to assume autonomous responsibility and accountability for the financial functions and the detailed, monthly, reporting for the Board. The Board is accustomed to receiving a very detailed reporting package and the Vice President - Finance answers their questions during the monthly Board meetings.

Work with HR to complete the process of hiring new Finance staff and then assist the Controller to bring the new staff up-to-speed within approximately 60-90 days of their start dates. The training goal is to have each new hire hit their stride by approximately the six months mark.

Meet with a former Head of Finance, discuss the successes and opportunities for greater efficiencies for IT and Finance and then do the same with the IT Manager and the Controller. Listen, learn, think things through and involve the direct reports and their staff in establishing any change plans. The Vice President - Finance has overall responsible for a total of approximately 15 people. That number shall grow as the business expansion plan is prepared for and realized.

Meet regularly with direct reports and provide coaching and feedback and facilitate personal development and training plans for them.

Within 30-60 days, learn the fundamentals of the company's ERP system and the Dynac report writing software, conclude the diagnosis of current financial structures and procedures and make a concise, prioritized, report which explains any improvement considerations. Discuss findings with the President and simultaneously gain his perspective regarding how best to implement any agreed upon changes within the people-first culture. An immediate goal is to establish and maintain a relationship and credibility with the Board.

Become an active participate in the IT leadership and management process by helping the IT Manager to guide, prioritize and monitor the IT functions as per the IT Service Delivery Plan. Collaborate with the senior leadership team and refine the IT Service Delivery Plan and guide the IT Manager so his team's focus is prioritized according to the long-term business and growth needs of the business. IT knows the technical side and the Vice President - Finance's leadership role is to help bridge the gap between the IT risks to the business and relaying the senior leadership team's long term plans so direction, prioritization and effective personnel plans can be executed by the IT Manager.

Under the supervision of the President, while working cooperatively with the Controller and the outside foreign exchange service provider, perform US currency exchange analysis and actions - always working in the best interests of the business. Euro currency exchange activities will also likely be required when new production equipment is purchased from Europe.

Within 90 days, be well integrated within the senior leadership team, become an integral part of the business expansion project and start to contribute to the larger strategic planning.

Work in cooperation with the President and build upon the existing project planning to refine and formalize the banking and/or banking syndicate options for the future expansion project.

Listen to and communicate with the other members of the senior leadership team to effectively budget out all of their project's costs associated with the major expansion and present the detailed, consolidated, plan to President for discussion purposes. Once that plan is approved by the President, present the fully budgeted plan to the Board's Financing Committee for discussion purposes and eventually present it to the entire Board.

After 90 days, start to form positive business relationships with the current lenders and begin to bring new financing (banking syndicate) relationship options to the table.

Proactively maintain effective, ongoing, communication and information exchanges with the primary lenders and meet their reporting requirements under the lending agreement covenant provisions. 

Despite their long list of current projects, system upgrades and program modifications, continue to motivate IT to look for innovative technologies and next step solutions.

Within approximate 150 days, while continuing to learn about the business, become a trusted right-hand to the President regarding strategy development - from the financial perspective.

Actively and effectively lead and supervise the production of the quarterly forecasts and, on an annual basis, lead the budget process. (The business is, and wishes to remain, more R.O.I. than budget driven).

In cooperation with staff, regularly monitor risk management policies and procedures to ensure that risks are minimized and external auditor recommendations are implemented.

Oversee the management of all leases, contracts and other financial commitments.

By approximately 210 - 240 days, utilizing existing and new banking relationships, obtain funding to cover the initial portion of the costs associated with the major business expansion project.

Prior to 365 days, present the fully budgeted bank financing plan options to the entire Board for approval to proceed with their preferred direction. Engage with the bank(s) and lawyers to formally facilitate the process.

Within, or soon after, approximately 365 days, keep learning more about the business and contributing during senior leadership team discussions regarding the overall business strategy and tactics. 

In cooperation with, and under the guidance of, the President, begin challenging all areas of the business to meet their commitments and find greater efficiency.

Act as the most senior financial professional contact for the outside accounting firm during their annual audit and corporate tax reporting procedures. (April year-end with full audit)

Other tasks and projects required of an energetic Vice President - Finance consistently looking to add value while working cooperatively and collaboratively within a positive, people-first, team environment.