The Vice-President of Finance and Administration is responsible to the organization’s President for all long-range financial matters and to establish company-wide financial and administrative objectives, policies, programs, and practices, which insure the company of a continuously sound financial structure. As Chief Financial Officer, they control the flow of cash through the organization and maintain the integrity of funds, securities, and other valuable documents.
VICE-PRESIDENT-FINANCE & ADMINISTRATION ESSENTIAL DUTIES AND RESPONSIBILITIES
- Establishes and executes programs for the provision of the capital required by the business, including negotiating the procurement of capital and maintaining the required financial arrangements. Coordinates the long-range plans of the company, assesses the financial requirements implicit in these plans, and develops alternative ways in which financial requirements can be satisfied.
- To manage the cash-flow position of the company. Responsibility includes authority to establish credit and collections and purchasing policies and to establish schedules for the payment of bills and financial obligations.
- To approve all agreements concerning financial obligations, such as contracts for products or services and other actions requiring a commitment of financial resources.
- Maintains relationships with financial institutions in conjunction with the President. Administers banking arrangements and loan agreements, receives, has custody of and disburses the company’s monies and securities. Maintains adequate sources for the company’s current borrowings from commercial banks and other lending institutions. Invests the company’s funds as appropriate.
- Responsible for the financial aspects of real estate transactions, and executes bids, contracts and leases.
- Ensures the maintenance of appropriate financial records and preparation of required financial reports.
- Provides insurance coverage as required.
- Oversees the Credit Manager in the granting of credit and the collection of accounts due the company, including supervision of required special arrangements for financing sales, such as time payments and leasing plans.
- Establishes and maintains an adequate market for the company’s securities and in connection therewith, maintains adequate liaison with investment bankers, financial analysts, and shareholders in conjunction with the President. Administer all incentive stock option plans.
- Analyzes company shareholder relations policies and information program including the annual and interim reports to shareholders and recommends to the President new or revised policies or programs when needed.
- Provides advice on all matters to the President and assists the President in the formulation of overall corporate objectives.
Directly accountable to the President and the board of directors through the President for the performance of all responsibilities related to financial management and administration. Provides reports on company finances as requested by the President and the board of directors.
Supervises the Controller, Credit Manager, Personnel (HR) Manager, and the Purchasing Manager.
VICE-PRESIDENT-FINANCE & ADMINISTRATION QUALIFICATIONS
A bachelor’s degree in accounting, business administration, sales and marketing, or other suitable field of study is required; a master’s degree in business or financial management is preferred. Excellent communication skills and the ability to work well with people at all levels are essential. Leadership skills and experience are required. Familiarity with accounting and spreadsheet applications is required. Some speaking training and experience (good diction, clear voice, etc.) is preferred.
VICE-PRESIDENT-FINANCE & ADMINISTRATION PHYSICAL DEMANDS
Occasional travel by airplane or automobile to conduct business is necessary. Ability to communicate orally with board of directors, customers, vendors, shareholders, management, and other co-workers, both individually and in front of a group is crucial. Regular use of the telephone and e-mail for communication is essential.
Sitting for extended periods is common. Hearing and vision within normal ranges is essential for normal conversations, to receive ordinary information and to prepare or inspect documents.
No heavy lifting is expected; occasionally exerting up to 10 lbs. of force (e.g., carrying notes, laptop) may be required. Good manual dexterity for the use of common office equipment (computers, mobile devices, etc.).
Good reasoning ability is required to solve a wide range of business problems. Able to apply statistical calculations, analysis of variance, correlation techniques, and sampling theory as well as algebra, linear equations, and other analytics as required. Able to understand and utilize financial reports and legal documents to conduct business.
The job is performed indoors in a traditional office setting. Activities include extended periods of sitting and extensive work at a computer. Occasional travel – to give presentations to news media, shareholders, and various business and charitable organizations, meet with location, divisional, and department management, etc. – is required.