VP of Finance – #21547

Why would I want this job?

Our client is a leader in on-site IT asset lifecycle services as well as data center infrastructure management. The VP of Finance will play a critical role in supporting their growth from $25M to ~$50M revenue and $3M to $12M EBITDA in the next few years. To enable this rapid growth, the VP of Finance will need to leverage and expand the operational and financial processes and systems built in the first two years of private equity ownership to support the business as it pursues enterprise growth opportunities and M&A with a lean finance team.

The VP of Finance will be responsible for managing liquidity to support growth and serving as a hands-on player/coach for an FP&A function that provides modeling and scenario planning for management and the private equity owners to ensure sufficient liquidity and ROI maximization while mitigating risk. This is a hands-on role that with other members of the leadership team provides cross-functional and strategic leadership.

What would I be doing?

Key Outcomes

• Financial Reporting – Ensure accurate and timely monthly reporting and analysis to management and the Board to support greater financial visibility and predictability throughout the organization and driving data-based decision making.
  • Oversee Controller and team to close monthly financials within 5 business days and report on budget vs. actual and KPI performance within 10 business days.
  • Deliver successful annual audit to Board of Directors within 90 days of year-end.
  • Embrace technology, including AI, to improve efficiency and usability of reporting data.
  • Calculate and submit timely and accurate borrowing base and covenant compliance certificates to lender.

• Liquidity and Working Capital – Tightly manage and evangelize throughout the organization the importance of liquidity and working capital improvements to generate free cash flow.
  • Own 13 week and fiscal year cash flow forecast to ensure sufficient cash to manage operations, fund planned investments and unplanned events.
  • Maintain banking relationships as primary point of contact and collaborate with private equity owners on debt refinancing strategies.
  • Ensure cash management including disbursements utilize sound risk mitigation processes to reduce risk of fraud and make certain cash investments are safe.
  • Closely track outstanding receivables and proactively manage to avoid credit concentrations and mitigate risk. Maintain DSO under 50 days.
  • Lead spend management, oversee delegation of approval authority and corporate card management program to minimize risk, ensure employee compliance, minimize costs and maximize working capital benefits.
  • Monitor overall financial health and proactively identify and raise concerns (e.g. compliance with covenants, working capital shortfalls, reduction in revenue).

• Upgrade and lead a FP&A function that generates insights to guide effective decision making, particularly in sales and marketing.
  • In collaboration with other functional leaders, participate in strategic planning to support business growth and profitability. Develop long-range, bottoms-up financial planning models and capital deployment matrices to inform and support more effective management decisions across margin enhancement opportunities, capital planning, etc. that serves as our path to achieve a minimum of 30% IRR and 4.0x MOI for our investors.
  • Build an annual budget based on the strategic planning priorities for approval of Board by early December of each year.
  • Maintain ongoing financial forecasts throughout the year as performance develops. Meet with each business unit owner monthly to share budget vs. actual performance.
  • Establish baseline models for each service line and highlight improvement areas in capacity planning, pricing, growth investments, etc.
  • Coordinate with Sales and Operations to create and manage sales and channel partner ROI to evaluate sales hiring investments, sales effectiveness, commission plans, etc.

• Mentor and develop existing team (Finance team and HR leader) and consider staffing and technology needs for scaling business.
  • Motivate and inspire the team to perform at the highest level. Establish a mindset that Finance collaboratively works with other functions to drive continuous improvement.
  • Evaluate existing talent on ongoing basis and thoughtfully manage expenses while setting up the business for scalable growth.
  • Cross-train talent beyond processing to drive strategic, data driven and commercially focused decision-making.
  • Utilize AI tools to streamline transaction processing and FP&A models to support scaling.

• Other: Risk management, federal and state registration, tax and cap table management.
  • Monitor and identify for management and the Board potential financial, operating and regulatory risks to the business and opportunities to mitigate the risk.
  • Liability Insurance – primary point of contact; ensure sufficient coverage as business needs change while managing down cost increases.
  • Coordinate with outside tax firm and registration agent for accurate and timely compliance.
  • Manage financial reporting to private equity firm including maintenance of cap table.

• M&A – Critical leadership team member in acquisition processes.
  • Lead/participate in key aspects of diligence, modeling, documentation and integration.

• Be a key partner for the management team and board.
  • Function as a trusted advisor to the CEO and board, providing sound and insightful financial analysis and timely data and insights.
  • Collaborate openly. Build support for change by clearly explaining the need for change and the goal to bring the organization along.
  • Demonstrate a willingness to ‘do’, not just delegate.
  • Execute with high levels of energy and urgency.
  • Build trust, be fully transparent and avoid spin. Be accountable.
  • Deliver bad news quickly, maintaining consistent and open communication on successes and potential issues, ensuring there are no surprises.