Food industry – CFO


About the Company

Our client is a fully integrated manufacturer of natural food and beverage products. From concept through product formulation, analytical and sensory testing, nutritional evaluation, packaging and logistics – the firm is a single source for cost-efficient, high quality products.

Based in Toronto, the firm supplies many leading retailers and branded manufacturers across North America and around the world, specializing in soups, broths and sauces. The firm has the broadest range of packaging formats covering all consistencies of product – from broth to chunky. Their state of the art customized production equipment is like no other in the world. Food safety is their top priority and their entire process is constantly tested and the product evaluated at every critical point.

Owned by one of Canada’s leading private equity investors, the company is expanding rapidly across North America.

Scope of Position

Reporting to the CEO, the Chief Financial Officer is responsible for overseeing all financial and administrative matters of the company and reporting on them in a timely and accurate fashion.

Functional Tasks

• Contributing to the development and implementation of the Company’s operational plan and strategic business plan with the executive management team.
• Contributing to the overall management of the firm, as part of the senior management team
• Acting as the business partner for the CEO in providing financial guidance and counsel on all major strategic issues
• Ensuring accurate reporting on the Company’s financials (i.e. P/L, Balance Sheet, Cash Flow, etc.) to the CEO and the executive management team.
• Working with the business line managers on relevant Key Performance Indicators and metrics and ensure that the operational and technology processes are in place to provide timely and accurate information.
• Overseeing and managing the accounting, hedging, tax, insurance, audit, budget, and credit and treasury functions.
• Managing the company’s cash flows.
• Providing leadership, guidance and mentorship to the finance staff in the organization.
• Leading the budgeting and auditing processes for the company.
• Ensuring that the financial practices and processes of the organization are extremely efficient and above reproach.
• Providing the primary financial interface in support of the CEO to banking institutions and other outside interested parties, relating to the Company’s finances and its financial investment activities.
• Serving as a champion for operational excellence and the maximizing of value creation.
• Leveraging a detailed understanding of ‘what’s driving the numbers’ to act as a key strategic and operational contributor to the overall growth of the business.
• Remains informed about the business, puts measurements and reporting dashboards into place enabling real time assessment of performance and ‘what’s over the horizon’.

Key Performance Deliverables

In light of the identified responsibilities, the following are specific deliverables that the position is designed to achieve.

• To be discussed and agreed upon with the successful candidate.

Competency Profile

The following competencies listed below define the role of Chief Financial Officer :

Planning & Objective Setting
Systematic in approach to work. Produces action plans in which objectives are defined and steps for achieving them are clearly specified. Plans by breaking down large task into subtasks. Develops plans that anticipate obstacles. Is realistic about time-scales and builds in appropriate checkpoints, milestones and controls in order to ensure that desired results are realized.

Strategic Approach
Develops a strategic plan to realize the vision. Revises strategy in light of changing circumstances. Takes a long-term view of organizational success. Works to clarify long term organizational goals. Able to stand back from immediate problems in order to focus on more far reaching ideas.

Information Seeking
Consults widely for business or technical advice, probes for facts and obtains information from a wide variety of sources. Differentiates the critical from the irrelevant or trivial.

Problem Solving
Draws parallels across situations and contexts. Divides problems into their individual elements. Develops several explanations or alternatives. Separates the core of a problem from its symptoms and can identify cause and effect.

Makes an immediate positive impression upon others. Has presence and commands respect. Comes across with force and quickly establishes credibility. Accurately predicts the effects of own words and actions. Makes an immediate positive impression upon others.

Proactive. Seizes opportunities and acts upon them immediately. Takes responsibility for own actions and addresses problems before asked.

Results Orientation
Focuses strongly on achieving agreed upon outcomes and ensures that key objectives are met. Conveys a sense of urgency and drives issues to closure. Aims to improve upon past performance. Establishes aggressive personal targets and strives to achieve them.

Commercial Acumen
Applies appropriate commercial and financial principles. Understands situations in terms of costs, profits, added-value and return on investment. Appreciates the commercial impact of own work on the organization’s total expenses and revenues.

Role Expertise
Demonstrates critical technical or professional knowledge/skills related to the role. Has thorough knowledge of relevant products, services and methods. Expands technical knowledge/skills and keeps up-to-date in own area of expertise.

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.

• A CA designation is highly desirable to be able to effectively fulfill the role.
• Experience in a manufacturing environment including plant/cost accounting experience is preferred.
• Experience managing a finance department and directing all activities involved in the financial stewardship of a company.
• The ability to lead, to communicate clearly and articulately to both inside and outside constituencies
• The ability to put value creation into perspective and know what makes the business tick – a strong business understanding

Remuneration & Benefits

• Highly competitive base salary, variable and equity package.

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