Chief Financial Officer - Aerospace
About the Company
Our client is the leading independent manufacturer of components and assemblies to the global aerospace industry. The Company also provides maintenance and repair and overhaul services for flight control surfaces for fixed wing aircraft and drive system assemblies for helicopters and aircraft. Our client is a publicly traded company with operating subsidiaries in Canada and the United States. The Company’s corporate office is located in Illinois. The Company's customers include some of the world’s leading aerospace OEM’s.
Scope of the Position
Based in Illinois, USA and reporting to the CEO, the CFO will be responsible for overseeing and driving all financial results of the Company’s operations throughout North America. The CFO will drive all financial results providing and challenging management with informative and timely financial and operating information, enabling proactive decision making, improving issues resolution and planning. The CFO will partner with the CEO in the management of the business. S/he will manage the Company’s banking and investor relationships and financing alternatives to achieve proper mix of debt/equity financing to achieve the optimum cost of capital. S/he will provide focused and concise financial and operating information to the management team, the Board of Directors and the Audit Committee.
Responsibilities
Demonstrated ability to:
Governance and Financial Reporting
Key Performance Deliverables
In light of the identified responsibilities, the following are specific deliverables that the position is designed to achieve.
Preferred Experience / 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.
Please email Allen Ballach at the StoneWood Group
Our client is the leading independent manufacturer of components and assemblies to the global aerospace industry. The Company also provides maintenance and repair and overhaul services for flight control surfaces for fixed wing aircraft and drive system assemblies for helicopters and aircraft. Our client is a publicly traded company with operating subsidiaries in Canada and the United States. The Company’s corporate office is located in Illinois. The Company's customers include some of the world’s leading aerospace OEM’s.
Scope of the Position
Based in Illinois, USA and reporting to the CEO, the CFO will be responsible for overseeing and driving all financial results of the Company’s operations throughout North America. The CFO will drive all financial results providing and challenging management with informative and timely financial and operating information, enabling proactive decision making, improving issues resolution and planning. The CFO will partner with the CEO in the management of the business. S/he will manage the Company’s banking and investor relationships and financing alternatives to achieve proper mix of debt/equity financing to achieve the optimum cost of capital. S/he will provide focused and concise financial and operating information to the management team, the Board of Directors and the Audit Committee.
Responsibilities
Demonstrated ability to:
Governance and Financial Reporting
- Responsible for corporate governance, financial reporting, capital structure, setting financial policies, internal controls through Bill 198 (Canada). Ensure accounting policies in accordance with US GAAP / NASDAQ, and required support documentation.
- Oversee the treasury function, including optimizing cash flow through the management of working capital, forecast analysis of cash flow requirements.
- Evaluate strategic business needs, including capital expenditures, new business opportunities, through a structured financial review process (e.g. gate review process).
- Manage business risks costs efficiently through external insurance policies or self insurance.
- Implement and lead a robust financial business planning and forecasting process that properly identifies the key value drivers needed to be met, in order to realize the plan and recognize the key risks that need to be managed and mitigated.
- Lead the development and implementation of the Company’s operational plan.
- Provide timely and accurate reporting to the management team (weekly/monthly), the Board of Directors (monthly/quarterly) and to the external investor community (quarterly/annually).
- Manage the tax compliance and planning process with external tax resources in order to maximize the company’s tax position.
- Manage covenants to ensure the company meets its financing obligations.
- Manage mergers and acquisitions process.
- Manage banking, investor and any other stakeholder relationships.
- Manage financial relationships/contracts with investors, debtors, suppliers, customers and partners along with the CEO and other team members.
- Provide financial leadership, guidance and mentorship to the finance staff (approximately 20 employees; five of which are direct reports) in the organization.
- Ensure that the financial practices, processes and systems of the organization are extremely efficient and above reproach; Develop and implement any necessary financial reporting procedures and systems in this regard.
Key Performance Deliverables
In light of the identified responsibilities, the following are specific deliverables that the position is designed to achieve.
- Resource and upgrade the finance organization and implement effective succession planning for the Finance organization.
- Develop and implement standard financial reporting formats for all Plants that seamlessly roll-up to complete corporate financial statements.
- Develop and implement a process that provides quick look are previous month’s financial performance within 3 working days and detailed financial performance reports within 10 business days.
- Develop and implement a budgeting process that drives accountability for achieving Operating Plan commitments to the appropriate leadership team member
- Develop and implement a robust Program Estimates at Complete process to assess program by program performance and identify appropriate corrective actions.
- Work with Plant Controllers to provide early identification of performance issues and develop effective countermeasures to identified issue.
- Identify shareholder value enhancing initiatives such as tax accounting, facility rationalization, and labour costs.
- Ensure new ERP system fulfills requirements of the Finance organization.
Preferred Experience / 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.
- Experience and demonstrated success managing a finance department within a public multi-plant, North American growth oriented aerospace manufacturing company and directing all the activities involved in the financial stewardship of such a company is most desirable. MBA degree from an accredited university with an emphasis on finance.
- 15 to 20 years of industry experience in a finance role.
- 5 to 10 years of experience in the CFO role.
- Experience in large multi-facility OEM and with mid-cap companies is also desirable.
- Experience in aerospace and or defense companies are most desirable.
Please email Allen Ballach at the StoneWood Group