Chief Financial Officer Position Profile

ABOUT THE COMPANY

This company was founded in 1985 with a goal to provide a personalized, hands-on approach in the commercial window coverings industry. From the start, they hand-picking the best window covering partners and hung every product themselves. Within a matter of years, the company grew exponentially due to its excellent customer service, quick installations, and superior product lines.

While many competitors have come and gone through difficult economic times, they forged ahead. With over 35 years of experience, they have become one of the most respected and trusted companies in the industry. Their vision, dedication, and unmatched ability has made them a national leader in window coverings.

This company is known for providing solutions within the office, healthcare, hospitality, education, and public sectors. In the healthcare sector, they install both manual and automated window coverings, as well as privacy curtains for hospitals and clinics. In addition to its commercial clients, its other division provides homeowners with high-end window coverings, audiovisual systems, and home automation solutions.

In September 2020, an investor group acquired a controlling percentage of the company and its affiliates. The Partners of the investor group led the transaction and continue to assist them in establishing and executing its strategic growth plan. Today, this company is the largest window covering subcontractor in the nation. With offices in three locations and 80+ employees covering the West Coast, they remain true to their steadfast values and provide a personalized approach to some of the largest corporations in the United States.

POSITION OVERVIEW

Reporting to the Chief Executive Officer (CEO), the Chief Financial Officer (CFO) will be responsible for leading the financial management of this rapidly growing and reinvigorated company with a strong background in accounting, margin analysis, cost controls, financial reporting, budgeting, business strategy, and FP&A (financial planning and analysis). The CFO is responsible for overseeing all fiscal and fiduciary responsibilities for the organization.

The CFO will also be responsible for communicating the financial performance to the Board, including providing qualitative commentary and engaging with the Board in forward planning and M&A analysis. The CFO will work with the Board to increase EBITDA, the value of the organization, and its equity incentive program.

The CFO plays a strategic role in the overall management of the organization. As a member of the executive leadership team, the CFO has responsibility for planning, implementing, and managing and advising on all financial-related activities of the company. This includes direct responsibility for accounting and compliance, planning and analytics, business services, client and project profitability, and reporting.

The CFO leads a team of about ten employees in Accounting, Finance, IT, and Human Resources.

DUTIES AND RESPONSIBILITIES

Overview

  • The CFO will have responsibility for all accounting, controls, financial reporting, budgeting, financial planning, and forecasting. This individual will be a leader who will provide hands-on and day-to-day management of all financial functions and best practices.
  • As a member of the core leadership team, the CFO will provide informed and objective counsel on business issues and will offer technical and experience-based advice to peer executives and staff.
  • CFO will function as part of the executive leadership team to increase the sustainability, culture, and value of the business.

Strategy

  • Work closely with the CEO on identifying and executing on strategic growth initiatives.
  • Collaborate effectively with CEO in analyzing market issues, trends, and opportunities.
  • Work with the executive team to develop and execute the company’s strategic growth plan.

Development

  • Assist Board in due diligence on acquisition targets.
  • Evaluate, finance, and integrate potential acquisition targets.

Finance

  • Coordinate the overall financial activities of the company; lead corporate finance, cash management, and credit.
  • Tax strategy and planning.
  • FP&A: planning and analytics, budgeting, forecasting.
  • Lead banking relationships.
  • Build a budgeting and analysis capability.

Accounting

  • Monthly financial updates.
  • AR/AP and payroll.
  • Management reporting.
  • Maximize the productivity of the company’s financial resources.
  • Oversee transition to fully GAAP-compliant accounting practices.

Operations

  • Monitor and advise on trends that influence inventory planning and capital outlay.
  • Ensure that information systems and reporting tools provide members with the information needed to make sound business decisions. Evaluate and oversee as necessary ERP upgrades and conversions.
  • Identify opportunities to drive efficiencies in working capital, operating costs, and capital expenditures.
  • Manage vendor relationships and interviewing of potential vendors (i.e. health insurers, retirement planning, IT vendors, etc.).
  • Develop and maintain an effective set of operating performance tracking tools (KPIs and Dashboards).

Treasury/Risk

  • Ensure appropriate risk mitigation through systematic risk assessment and risk mitigation tools and processes.
  • Manage external financing relationships.
  • Identify and address financial risks and opportunities for the company.

Compliance

  • Work with external auditors to be proactive and out front in making sure all financial statements are created accurately and on time.
  • Regulatory compliance.

CRITICAL COMPETENCIES FOR SUCCESS

Strategic Agility

This individual must be intellectually sharp and clearly capable of thinking on his/her feet while demonstrating outstanding business judgment. The Chief Financial Officer will possess the analytical skills to drive costs from the business, improve overall productivity and elevate the company’s technology advances as points of differentiation in the marketplace.

Results-Oriented

The new Chief Financial Officer must be performance-driven and able to provide measurable results in a proactive manner. The ability to navigate and help fuel double digit year-over-year growth is critical to success. The successful candidate will be resourceful, action-oriented, and possess a proactive sense of urgency and the ability to overcome obstacles to produce results in a timely fashion. He/she will be comfortable in working in a lean organization, rolling up his/her sleeves to get things done. Achieving these goals while working in a collaborative environment will require the political savvy to know when to push for action and when to step back to build consensus.

Communication

This individual should possess very strong communication and persuasion skills, truly partnering with the leadership team and Board. They should be comfortable, articulate, and dynamic in front of both external and internal audiences including members, senior leadership, the private equity team, and customers. She/he will be direct, candid, and possess strong conflict resolution skills. This will include effective negotiation skills with all constituents within and outside the company.

Perspective

This individual will provide a worldly perspective of macro and industry influences to assist in guiding the company in new directions. He/she will provide perspective coming in from outside the organization to aid in the collective leadership team’s understanding and acceptance of trends, insights, changing business perspective and management strategies. This keen perspective should be presented with patience and guidance rather than authoritative.

EDUCATION & EXPERIENCE REQUIREMENTS

Industry

  • Construction environment or equivalent "percentage of completion" accounting (Rev Rec).
  • Organization
  • Mid-sized
  • West Coast
  • Multi-office
  • Prefer experience with PE-backed entity

Roles

  • Prior CFO role
  • Accounting
  • Finance
  • HR
  • Strategy
  • IT
  • CPA preferred

Skills

  • Strong financial and accounting background, including an understanding of relevant cost, inventory, ERP, and revenue recognition issues.
  • Experience with budget management, KPIs, and reporting.
  • Experience with corporate governance and reporting to boards of directors.
  • Experience with strategic acquisitions is a plus.

Personal Abilities

  • Along with the rest of the executive leadership team, this individual should be a strong and proactive advocate for value creation and company integration.
  • Proven negotiating skills.
  • Ability to understand new issues quickly and make wise decisions.
  • Ability to inspire confidence and create trust.
  • Ability to work under pressure, plan personal workload effectively, and delegate.

FOR MORE INFORMATION PLEASE CONTACT:

Paul Herrerias

Title: Managing Director Email: pherrerias@comharpartners.com Direct: (415) 483-4116 Mobile: (415) 302-5300

Nick Layton

Title: Principal

Email: nlayton@comharpartners.com

Direct: (312) 313-8460

Mobile: (847) 373-6520