Chief Financial Officer

Employer
ExecuNet
Location
Richmond, Virginia, US
Salary
Competitive
Posted
Jan 07, 2021
Closes
Feb 15, 2021
Ref
535bc90fe9b3
Job Role
CFO
Sector
Finance
Contract Type
Permanent
Hours
Full Time
Job Summary

We're seeking a professional to help provide leadership in setting and steering Firm financial performance, which includes annual budgeting, long-range financial planning, regular forecasting, project-based financial analysis, managing banking relationships, and M&A support. The CFO will be responsible for collaborating with the leaders of Accounting, IT, HR, Marketing, and Support to develop the $40m+ budget for Firm Administration (FA). In addition, this professional will develop a multi-million dollar capital budget and provide strategic oversight and coordination with the Firm's service line leaders (tax, audit, advisory) for their annual budgeting and budget variance analysis.

Other responsibilities for the CFO include but aren't limited to:
  • Develop an understanding of the Firm's current analysis, reporting, and planning capabilities - both staff and systems - and make appropriate recommendations
  • Provide executive leadership and direction to the Firm's financial operations, including accounting, payroll, expense control, financial planning and analysis, banking relationships, audit, tax, cash management, accounts payable, billings, accounts receivable and collections, conflicts and new business intake as well as systems, treasury, and risk management
  • Manage financial analysis and reporting firm-wide; provide financial analysis and advice to department and practice leaders regarding profitability, revenue goals, rates, utilization, realization, and leverage
  • Manage the budgeting/forecasting process and support associated requests and financial estimates. Provide senior leadership with data necessary to make strategic operating and investment decisions
  • Provide financial analysis for lateral partner hires and/or firm acquisitions
  • Assess and implement financial vehicles to support the Firm's growth
  • Work with the COO/Firm Managing Partner (FMP) to prepare presentations and reports and participate in the development of operating plans and procedures
  • Work with the COO to oversee the preparation of the Firm's annual operating budget to include billing rates, cash cycle and revenue, operating expenses, and capital expenditures. Support the development of business plans for each practice
  • Monitor and manage the accounting for current leases and subleases, review and analyze financial impact of new or renewal leases, and analyze impact of significant leasehold improvements
  • Work with the FMP, COO, and Chief Human Resources Officer (CHRO), as requested or needed, on the development and implementation of personnel policies and procedures with regard to retirement plan administration, health and welfare benefits, contract compliance, diversity, associate compensation, HRMS, and integration of HR functions and information in the Firm's budget, payroll system, client accounting system, and financial accounting system
  • Work with the COO and Chief Information Officer (CIO) in the cost/benefit analysis of the Firm's financial reporting and analysis technology program to ensure the support and development of new matter intake, client accounting, financial accounting, budgeting, and management reporting systems
  • Supervise the Accounting Manager, understand the general accounting services of the Firm on a firm-wide and local office basis to include: accounts payable and cash disbursement, banking, cash management, cash receipts, client accounting compliance with accounting procedures and controls, debt financing and equipment leasing, expense reimbursements, expense reserves, financial statements, fixed assets, general ledger, month-end close, personal accounts, and partner distributions and notes
  • Oversee all partner accounting services on a firm-wide basis including partner distributions and draws, loans to/from partners, retirement plans, deductions, and year-end tax information for the partner tax returns as well as K1 preparation
  • Work with the COO and the CHRO to oversee the renewal process for the health, property, general and professional liability, and other insurance policies, and file claims, obtain Certificates of Insurance, and process coverage changes
  • Oversee the Firm's independent audit of its qualified plans, provide financial information to the partners for their quarterly estimated tax filings, and coordinate with the appropriate Audit/Tax Partner and outside resources on tax issues that affect the Firm or the individual partners in relation to the Firm policies and procedures

What skills and experience are we seeking
  • A minimum of 10 years of relevant financial management experience, in positions of increasing responsibility and authority. Experience in an accounting firm or other private professional services environment is nice, but not necessary
  • Demonstrable experience in management of or exposure to non-finance operations, for example, information technology, human resources, or marketing
  • Experience with multi-office/location accounting, financial reporting, budgeting and analysis combined with a strong track record of managing multiple projects simultaneously
  • Demonstrated experience adding value beyond the strict definition of the position; an ability to "get behind" the numbers to advise management on financial and strategic issues
  • A proven track record of establishing and/or reengineering operations practices and building finance and accounting teams to meet changing organizational needs
  • Creativity, resourcefulness, and interest in identifying new strategies and approaches and systems, with an ability to develop comprehensive short- and long-term operational plans from broadly stated mission objectives
  • A solid understanding of and hands-on experience with financial and accounting technology applications, ideally MAS500, and working familiarity with networked and electronic billing systems and business analytic tools. Strong Excel skills required
  • Expert understanding of GAAP and other relevant technical areas
  • Solid understanding of the process surrounding the development of Sub Chapter S tax returns and other IRS filings. Experience should include filings with state and other taxing jurisdictions.
  • Proven success recruiting, mentoring, managing, and developing staff
  • Excellent project management, analytical, interpersonal, oral and written communication skills
  • An undergraduate degree in Finance, Accounting, or a related field, required; MBA preferred and CPA certification a strong plus

Qualifications
10 years: A minimum of 10 years of relevant financial management experience.

Licenses & Certifications

Preferred
CPA