Donovan & Watkins is partnered with an environmental services company in Midland, Texas to find a Chief Financial Officer. This CFO will need to be a hands-on contributor in a small company environment. This person will play a key role in developing, monitoring and evaluating overall corporate strategy with the CEO and board members with an emphasis on bottom line performance. This position will provide useful financial insights to help make better decisions about formulating and executing strategy.
- Define the process and implement the infrastructure/systems needed to support substantial growth. Build and manage effective and streamlined administrative/financial systems, including financial, accounting, legal, information technology (IT), and human resources (HR)
- Manage the accounting function including AP, AR, Payroll, project-based accounting and ensure the proper functioning of all accounting systems, databases and financial software.
- Prepare monthly financial statements in accordance with GAAP and distribute in a timely manner.
- Monitoring the progress of projects, investigating variances, approving expenses, and ensuring that project billings are issued to customers and payments collected.
- Recognize possible deficiencies in the current accounting department and take the initiative to implement new processes to correct them. This includes transferring manual processes that could be automated in QuickBooks.
- Strive to improve data flow through process reviews and elimination of non-value-added work.
- Serve as a key point of contact for external auditors; manage preparation and support of all external audits.
- Develop a cash flow projection process and reporting mechanism that includes minimum cash threshold to meet operating needs.
- Manage financial capital; communicate capital requirements/ implications of business decisions to CEO and BOD
- Oversee and deliver all financial and operational data analysis, including the preparation of pro-formas and retro and prospective performance studies.
- Performs qualitative work including: development of revenue and cost projections, budgeting, cash flow projections, strategic financial planning and budgeting.
- Grow equity value – increase gross profit and reduce debt.
- Ensures efficient capital expenditures and minimizes taxes
- Establish internal control processes required to manage and grow the business
- Drive the annual budget process and the monthly reporting
- Develop and implement a risk management policy
- Expand financial reporting systems to determine daily and weekly gross profit estimates
- Lead financial aspects of potential M&A activity including systems integration efforts
- Act as the point of contact to banker and vendors when negotiating appropriate strategies to enhance cash position.
- Bachelor’s degree in Accounting/Finance required; CPA preferred
- Extensive experience working for a services-based company
- Project-based accounting background is required
- Advanced Excel skills are needed, prior experience transforming data into financial models for valuable insights is a must have for this role
- The ability to present and communicate financial information to the CEO and BOD effectively is crucial
- Relocation to the Midland area is required, commuting will not be an option