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About the Company
Our client is one of North America’s leading Compliance and Fraud Detection software providers. The firm provides a broad, innovative suite of anti-money laundering and anti-fraud solutions. The firm’s customers include hundreds of financial institutions that span a broad range of asset size and operate on thirty different core banking systems. Partnerships include more than forty industry endorsements by national and state associations; as well as relationships with core system vendors, data hosting centers and third-party IT service providers. Our client is a service member of the American Bankers Association (ABA) and a corporate associate member of the Independent Community Bankers of America (ICBA). It is also a strategic alliance provider of the Credit Union National Association (CUNA).
Scope of Position
Based in Atlantic Canada, and reporting to the CEO, the CFO will be responsible for overseeing all financial and administrative matters of the Company’s operation and reporting on those aspects to the executive management team and Board of Directors in a timely and accurate fashion.
Functional Tasks
• Act as the business partner for the CEO in providing financial guidance and counsel on all major strategic issues including partnering, business model and acquisition related matters.
• Work with the business line managers to develop relevant Key Performance Indicators and metrics and ensure that the operational and technology processes are in place to provide timely and accurate information.
• Manage the company’s cash effectively and support CEO in fund raising initiatives
• Manage relationships/contracts with investors, bank, debtors, suppliers, customers and partners along with CEO and other team members
• Provide leadership, guidance and mentorship to the finance staff in the organization.
• Lead the budgeting and auditing processes for the company.
• Contribute to the overall management of the firm, as part of the senior management team.
• Provide 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.
• Contribute to the development and implementation of the Company’s operational plan and strategic business plan with the executive management team.
• Report on the Company’s financials (i.e. including monthly/annual reporting, budgets and rolling 6-month forecast updates etc.) to the executive management team and the Board of Directors;
• Oversee and manage the accounting, tax, insurance, audit, budget, credit and treasury functions. Manage relationship with audit firm for annual audit/income tax activities and manage sales tax/employment matters in both Canada and the U.S.
Key Performance Deliverables
In light of the identified responsibilities, the following are specific deliverables that the position is designed to achieve.
• Specific performance measures will be agreed upon with the successful candidate prior to joining the organization.
Competency Profile
The following competencies listed below define the role of Chief Financial Officer
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.
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.
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.
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.
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.
Boundary-Spanning
Incorporates information about the organization’s structure and protocol into decisions. Attentive to the internal politics and alert to shifting interpersonal dynamics. Establishes the necessary support networks and cross-functional relationships through rapport building. Recognizes, maintains and effectively balances the interests and needs of one’s own group with those of the broader organization.
Team Skills
Helps to create a sense of team spirit and harmonious relations through cooperation and support. Balances personal goals with those of the team. Fosters collaboration among team members.
Industry & Market Awareness
Seeks to anticipate and respond to industry and market changes/challenges by understanding key characteristics, issues and the factors driving them. Aware of competitor’s products, services and position.
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 financial designation (CA, CMA or CGA) is critical to be able to effectively fulfill the role.
• Experience managing a finance department and directing all the activities involved in the financial stewardship of a company.
• Knowledge/experience in finance (VC-backed), accounting, budgeting, tax, audit, human resources/payroll and corporate governance (secretary role).
• Experience in contracting and negotiations with customers, suppliers and distribution partners and supporting investors, debtors, etc
• Hands-on experience in software as a service (SaaS) environment or related revenue models in an early-stage environment. Strong communications skills, broad experience, flexible style
• Experience with acquisitions and their integration, strategic alliances and positioning in a hyper growth environment
• A hands-on style, one that rolls ups sleeves as required yet has demonstrated the ability to grow to build the finance infrastructure and hopefully other G&A functions.
• A participative, inclusive team style
Remuneration & Benefits
• Highly competitive base salary, bonus and stock option package.