Our client is a leading NYS-licensed recreational cannabis processor, manufacturer, and distributor for major US Cannabis brands as well as their brands that are highly entrepreneurial, with quarter-over-quarter growth of 50%.
The Role - reporting to the Chief Executive Officer and the Board of Directors
The Director of Finance is responsible for all aspects of the financial function and resources for the corporation, including accounting, cash management, working with in-house counsel on tax and legal affairs, business planning, and reporting. As a member of the company's management team, the Director of Finance acts as a strong business partner, with a deep understanding of business and operations issues, providing analysis and enlightening the financial impacts of operations, projects, and decisions along with accurate reporting and Dashboard to allow performance tracking and improvement. The Director of Finance guarantees compliance with company financial procedures and strategy. The Director of Finance is also in charge of the accounting aspects of the company.
What You Will Do:
Oversee Financial Operations: Lead and manage the company's financial activities, ensuring smooth and effective operations.
Train Accounting Personnel: Provide comprehensive training and support to the accounting team to enhance their skills and performance.
Conduct Financial Assessments: Perform weekly and monthly financial evaluations, generating detailed reports for senior management review.
Establish Budgets: Develop and implement departmental budgets in alignment with company requirements.
Manage Capital Budgets: Allocate funds for capital projects and collaborate with department heads to maintain financial discipline.
Develop Financial Plans: Create annual financial plans and projections to guide the company's strategic direction.
Analyze Financial Risks: Assess the financial implications of business initiatives, identifying potential risks and benefits.
Evaluate Operations: Examine company operations to identify profit drivers and areas for cost improvement.
Direct Budget Variance Analysis: Oversee the budget variance analysis process, addressing discrepancies, monitoring progress, and reporting to senior management.
Create Financing Strategies: Develop innovative strategies to support company expansions and capital needs.
Prepare Forecasts: Generate and present forecasts on business growth, economic conditions, industry trends, and their impact on company policies and operations.
Support Plant Management: Provide financial guidance to plant management to enhance operating and financial performance.
Analyze Cash Flow and Costs: Monitor cash flow, cost controls, and expenses to provide actionable insights for business leaders.
Review Financial Statements: Analyze financial statements to identify and address potential weaknesses.
Manage Business Planning: Oversee the business planning process, including budgets, forecasts, and multi-year plans.
Assess Organizational Performance: Evaluate performance against budget, making recommendations in collaboration with operational heads, the CEO, and the Board of Directors.
Provide Consultative Support: Offer financial and management information analyses, reports, and recommendations to support planning initiatives.
Support New Business Development: Assist in developing budgets and pricing models, conducting contract reviews, negotiations, and presentations for new business opportunities.
Monitor Cash Management: Ensure effective cash management and availability of funds for corporate operations.
Handle Banking Relationships: Manage daily banking relationships and transactions.
Provide Cash Forecasts: Deliver reliable forecasts of cash requirements.
Optimize Working Capital: Oversee and enhance working capital management.
Manage Accounts Receivable and Payable: Supervise accounts receivable and payable functions to maintain financial health.
Oversee Insurance Programs: Assess and manage insurance programs to ensure their adequacy.
Identify Funding Opportunities: Explore and propose new funding sources.
Ensure Tax Compliance: Guarantee accurate and timely tax filings and regulatory reporting.
Implement Tax Strategies: Collaborate with tax advisors to develop and execute effective tax strategies.
Evaluate Functional Performance: Assess and enhance the performance of assigned functional areas, ensuring effective communication throughout the organization.
Foster Communication and Engagement: Break down silos, bridge communication gaps, and engage employees to foster a unified understanding of company operations and contribution to success.
Experience and Qualifications
Education: Bachelor's degree in Accounting, Finance, or a related field required. CPA certification is highly preferred.
Experience: Minimum of 7 years in accounting and finance, including at least 3 years in a Financial Controller or Director of Finance role. Proven expertise in monthly closing, variance analysis, industrial (plant) accounting, and unit accounting.
Controlling Experience: Demonstrated experience in financial controlling, with a strong preference for backgrounds in manufacturing plant controlling.
Financial Management: Experience managing relationships with banks, benefits providers, and insurance companies, as well as working with third-party fiduciaries.
Supervisory Experience: Prior experience in a supervisory role is essential.
Regulated Industry Experience: Experience in regulated industries such as pharmaceuticals, nutraceuticals, or state-regulated medical/recreational cannabis manufacturing is highly desirable.
Valuation Expertise: Experience in valuation creation within highly capital-intensive production environments is preferred.
Communication Skills: Ability to clearly communicate financial concepts to non-financial managers, facilitating informed operational decisions.
Leadership Skills: Strong leadership capabilities with a proven track record in uniting and guiding teams.
Cost Reporting and Improvement: Experience in developing cost reporting systems and working with operations to implement cost improvement strategies using variance analysis, standard costing, and activity-based cost accounting methods.
EBITDA Margin Improvement: Demonstrated leadership in enhancing EBITDA margins through improved organizational performance, revenue growth, and cost management.
Collaborative Approach: Experience working collaboratively with other leaders to drive operational improvements and achieve better outcomes.
PHYSICAL REQUIREMENTS/ENVIRONMENT:
Traditional office environment, with frequent visits to other areas of the facility, including production areas, loading docks, and laboratories.
Must be able to work on a computer for extended periods.