Technology Sector – Vice-President of Finance – Canada

Our client is focused on the disciplined serial acquisition, management and growth of companies in a specific, high growth technology sector. Our client’s emphasis is on seeking out acquisition opportunities at reasonable valuations that provide a foundation for recurring revenues, predictable cash flows and margins, profitable growth, intimate customer relationships and dedicated management teams.

Our client is publicly traded, and growing at a very rapid pace. As the company continues to align its executive leadership capabilities with its successful strategy of aggressive growth, it is now seeking to hire a Vice-President of Finance.

Scope of the Position

The Vice-President Finance will lead a staff, direct and participate in the accounting function in reviewing the appropriateness of financial systems, internal controls and management information reporting such that the Company’s assets are safeguarded, costs controlled, and assets deployed in the most efficient manner. The Vice-President Finance will assume responsibility for managing and supporting daily cash flow, investments and credit lines to maximize productivity of the company’s financial resources.

The Vice-President Finance will assist in the development of the corporate financial strategy, ensuring that adequate financial resources are available to accomplish its business mission. He/she will also assist in the assessment and review of costs to mitigate risks and help increase shareholder value. He/she will provide strategic business analysis and advice beyond the compilation of numbers.

Along with the other senior executives, the Vice-President Finance will accurately and completely support the CFO’s efforts to represent the Company to investors, lenders and the financial community.

This is an outstanding opportunity that features:

• Explosive industry and company growth
• Highly entrepreneurial culture
• An opportunity to make a real difference
• Succession opportunity

Functional Tasks

Corporate financial reporting and management

• Preparing periodic consolidated financial statements in accordance with GAAP, including reporting for investors, bankers and others on a timely basis.
• Directing preparation of all public reporting information and presentation to the CFO, Audit Committee and Board of Directors for review and approval on a timely basis.

Responsible for overseeing corporate and regional controllers and support staff who are charged with the following:

• Overseeing and assisting in the consolidation of monthly financial statements, audited reports and records of the Company.
• Coordinating all audit and related activities with external auditors and communications with Audit Committee as required.
• Reviewing and overseeing proper control systems to ensure accuracy and timeliness of all financial reporting.
• Coordinating audits of records with outside accounting firm.
• Performing cost accounting, ratio analysis and financial consolidation of geographical units as required with an eye on reducing costs and improving profitability.
• Overseeing the development and implementation of consolidated risk management plan with senior management and outside vendors.

Tax and Regulatory Compliance

• Overseeing preparation and filing of all federal and provincial income tax returns for the Company.
• Directing tax planning and reporting, including the identification of tax savings opportunities, relevant R&D funding and government grants.
• Overseeing preparation and filing of all appropriate federal, provincial, state and country tax returns.
• Overseeing preparation and filing of all appropriate government pension forms and related documentation.
• Ensuring compliance with all outside regulatory agencies and organizations. Coordinating with other department heads to assist with compliance issues as they arise.

Treasury and Cash Management

• Daily cash management/banking covenants.
• Acting as key contact with banking and lending community.
• Assisting the CFO with development and instituting of long and short-term borrowing plans with outside sources.
• Instituting cash management policies to maximize short term yield.
• Reviewing and improving formal credit policies.
• Leveraging a detailed understanding of ‘what’s driving the numbers’ to act as a key strategic and operational contributor to the overall growth of the business.

Key Performance Deliverables

In light of the identified responsibilities, the following are specific deliverables that the position is designed to achieve:

• Specific performance measures will be discussed and agreed upon with the successful candidate.

Competency Profile

The following competencies define the role of Vice-President of Finance at our Client:

Role Expertise

Demonstrates critical technical or professional knowledge/skills related to the role. Has thorough knowledge of relevant products, services and methods. Expands technical knowledge/skills and keeps up-to-date in own area of expertise.

Commercial Acumen

Applies appropriate commercial and financial principles. Understands situations in terms of costs, profits, added-value and return on investment. Appreciates the commercial impact of own work on the organization’s total expenses and revenues.

Results Orientation

Focuses strongly on achieving agreed upon outcomes and ensures that key objectives are met. Conveys a sense of urgency and drives issues to closure. Aims to improve upon past performance. Establishes aggressive personal targets and strives to achieve them.

People Management

Establishes and communicates clear priorities and sense of direction. Clarifies roles and responsibilities. Adapts management style to achieve optimum results.

Integrity & Sincerity

Inspires trust and supports others through own authenticity and following up on commitments. Maintains high ethical standards both personally and professionally. Shows consistency among principles.

Information Seeking

Consults widely for business or technical advice, probes for facts and obtains information from a wide variety of sources. Differentiates the critical from the irrelevant or trivial.

Team Skills

Helps to create a sense of team spirit and harmonious relations through cooperation and support. Balances personal goals with those of the team. Fosters collaboration among team members.

Preferred Experience and Education

The following indicates specific industry, academic and functional experience/qualifications that are important to the successful achievement of the identified responsibilities and performance deliverables:

• Senior financial management experience with a serial acquirer preferably in the technology sector.
• IFRS accounting expertise, especially the nuances around acquisitions, contingent considerations (earn-outs), BAR Reports, purchase price allocation accounting, IFRS-15 revenue allocation.
• Experience implementing internal controls using the COSO framework.
• Numeracy and fluency with numbers and their relationships. Attention to detail critical.
• The ability to put value creation into perspective and know what makes the business tick – a strong business understanding.
• TSX experience.
• Prior experience implementing an ERP system.
• M&A experience.
• Taxation experience – Canadian and global.
• Strong communication skills, with the ability to influence, motivate and direct support staff.
• Chartered Accountant (CA), CMA or related financial designation.
• Knowledge of good Corporate Governance Practices, including corporate conduct and business ethics.
• A balance of strategic vision and hands-on experience.
• Prior experience with bank debt, covenants and managing a syndicate of lenders.
• Strong leadership, work ethic, mentoring and team-building qualities.
• Committed, tough-minded, pragmatic, performance-driven personality though one that strives to partner with and support line management in achieving their goals.
• A solid track record of good judgment and prudent risk taking.
• Ability to work closely with the CFO and develop a high level of mutual trust.
• Autonomous and self-motivated with ability to take charge and work without supervision or guidance.
• Highly competitive compensation package for the successful candidate.