Commercial Finance Director

Job Title: Commercial Finance Director

Department: Executive

Reports To: COO

Position Type: Full Time

Purpose of Position

Is to direct the company’s Finance activities

Is to ensure strong internal controls exist in all finance processes

Is to support the overall goals and expectations of the Finance & Accounting Department.

Company Expectations

Flexibility

Works the hours needed to support the business goals (including weekends and holidays). Remains open-minded, performs a wide variety of job tasks, transitions from task to task effectively (multi-task).

Reliability

Always present and punctual; arrives prepared for work. Completes work in a timely, accurate and consistent manner.

Attitude

Maintains a “Whatever it Takes” attitude. Lives by company values and inspires others.

Willingness to learn

Approaches new tasks with an interest to learn. Has the ability to learn techniques as job task requirements change.

Initiative

Seeks out additional work when job tasks are completed. Goes above and beyond required tasks.

Quality of Work

Maintains high standards despite pressing deadlines. Produces accurate, thorough and professional work.

Understands the importance of “Only Handle It Once – OHIO”, by completing work correctly the first time.

Follows directions

Follows all written and verbal instructions provided by management, project leader, etc…

Communication

Shares all information in a professional and factual manner ensuring the best decisions are made for the company.

Appearance

Maintains an appropriate appearance and dresses in accordance with the established dress code guidelines to your respective position.

Safety

Follows all rules and practices. Informs supervisor immediately if unsafe conduct or conditions arise.

Values and Business Practices

• Customer First
• We treat employees with respect and dignity
• We operate with high business ethics
• We don’t lie, steal or cheat to make a living
• We are a good corporate citizen
• We value our professional relationships
• We strive to have a “Continuous Improvement Culture”

Non-negotiable

• Safety
• Attitude towards customers
• Continued underperformance

Position Competency

• Bachelors Degree in Finance or Accounting
• Knowledge of corporate capital structure, the banking system and debt instruments to finance company activities
• Risk management knowledge including familiarity with insurance policies including premium based and self funded programs
• Experience with forecasting, reporting and accounting systems
• The ability to perform complex financial calculations and analysis
• Comprehensive understanding of accounting principles and practices

Role Expectations

• Financing

• Direct all aspects of debt matters, including borrowings, payments, interest rate swaps and credit agreements
• Act as the primary contact with the company’s financial institutions, respond to questions and information requests
• Track and monitor all loans regarding maturity, interest rates, interest/principal payments, amortization, etc.
• Make debt covenant projections, provide input on distribution decisions, and prepare and submit quarterly bank compliance documents
• Obtain letters of credits when needed, and maintain list of LOC’s with renewal dates. Work with third parties to secure release when possible
• Obtain, renew and terminate surety bonds as required
• Monitor investment performance and provide guidance on the investment strategy
• Review and approve long-term debt account reconciliations

2. Treasury Management

• Provide oversight of banking and cash management activities utilizing the online banking application (FNB-Online)
• Supervise treasury analyst, and ensure backup coverage during absences
• Review and approve ACH and wire payments, as well as banking exceptions
• Follow up and investigate any suspected fraudulent transactions
• Manage timely completion of monthly cash flow statements, and make cash projections to ensure available liquidity
• Maintain a report of capital investments and forecast the capital needed to fund stated investments
• Oversee the company credit card program (in eZBusiness application), approve card requests and set credit limits.

3. Forecasting

• Act as lead administrator for the company’s financial forecasting and reporting application (Workday Adaptive Planning)
• Maintain the structure, levels, accounts, versions, cubes, assumptions, sheets, reports, etc. in support of meaningful financial reporting for management
• Manage the quarterly forecasting cycles to ensure updates are completed, analyzed, reviewed and approved
• Provide financial analysis of the business as needed

4. Insurance

• Mange the company’s insurance policies and programs, including Raffles commercial insurance (GL, Auto, WC), EPIC property, and ancillary polices such as motor truck cargo, warehouse legal liability, storage tank, crime, cyber-liability, EPL and other coverages as needed
• Ensure continuous coverage, provide information required for renewals and periodically evaluate coverage levels
• Promptly respond to all insurance audit requests
• Review and approve premium and other insurance invoices
• Oversee fulfilment of COI requests

5. Accounting & Fixed Assets

• Oversee capex accounting and the company’s fixed asset system (BNA), including proper coding of AP invoices until this function is transitioned to the accounting manager
• Handle accounting related to cost-plus customer contracts
• Lead set-up of accounting structure in the company’s new HRIS system (Paylocity), and manage payroll entries, labor allocations and bonus accruals until transitioned to the accounting manager
• Collaborate with the accounting function on journal entries, schedules, reviews, reconciliations and other tasks in support of the monthy, quarterly and annual close processes

6. Other Responsibilities

• Serve as a member of 401K fiduciary committee, and provide support to benefits manager as needed
• Work with HR team to monitor self-funded medical plans, evaluate plan changes and make recommendations to maximize cost effectiveness
• File business personal property tax and other non-payroll tax returns, oversee sales tax returns and ensure timely payment and administration of real estate property taxes
• Manage all financial aspects of warehouse leases, including preparation of lease payment schedules, and evaluation and processing operating expense reconciliations