7 days old

Chief Financial Officer

Corporate Strategies Search
Seattle
  • Job Type
    Employee
  • Job Status
    Full Time

The CFO will provide company functional leadership and direction at Prime Northwest (PNW) and Prime Northern California (PNC) for all financial activities through department managers and staff, in line with the purpose, values, & ethical standards of Prime Electric while providing superior internal and external client satisfaction and service. 

 

Other duties and responsibilities include:

ACCOUNTING/FINANCIAL/TAX- Parent & Subsidiaries

 

  • Analyze the monthly, quarterly and yearly financial results of PNW and PNC.
  • Act as the primary communications interface with the CAO’s of PNW and PNC.
  • Maintain GAAP reporting consistency.
  • Prepare Corporate California tax statements on a quarterly and yearly basis.
  • Compute California tax liability for yearly financial statements.
  • Maintain current knowledge of S-Corp Tax Law and Tax strategies.
  • Prepare and post year-end financial statements for all subsidiaries and parent.
  • Manage the year-end audit in partnership with CAO’s and CPA representatives.
  • Review audited financials with senior leadership/ shareholders.

 

LEASING RESPONSIBILITIES:

 

  • Set up and maintain lease agreements between PNW/SLT and PNC/ABMS.

 

 

  • Monitor CAO’s in recording of GL assets and debt.
  • Document preparation and control for all leases with SLT, ABMS.
  • Creation and updating of leasing operational statement OP.

 

 

OPERATIONAL RESPONSIBILITIES:

 

  • Understand and monitor, through CAO’s of PNW and PNC, the extensive internal mechanisms that drive job cost and financial reporting at the operations.
  • Support monthl, quarterly and year end results meetings with Execs and Ownership.
  • Assist CAO’s with cash collection strategies and processes.
  • Monitor cash balances, and in conjunction with CAO’s, prepare cash flow analyses.
  • Monitor and review 12-month rolling business plans prepared by CAO’s.
  • Review and understand all monthly and quarterly overhead statements.
  • Review and prepare debt calculations for all shareholder/stock transactions.

 

 

BANKING:

 

  • Maintain strong banking relationship with current affiliates.
  • Negotiate and secure debt structure and long-term financing as needed.
  • Arrange all vehicle/TI financing.
  • Handle LOC renewals and all cash transactions between the subsidiaries.
  • Negotiate all banking covenants and personal guarantees.
  • Provide quarterly and yearly financials and WHIP progress reports to bankers.

 

SURETY:

 

  • Negotiate annual terms with current affiliates.
  • Manage Broker/Surety relationships.
  • Provide quarterly and yearly financials and WIP progress reports to brokers and affiliates.
  • Negotiate bond limits and personal guarantees to the benefit of the company/shareholders.

 

INSURANCE:

 

  • Coordinate insurance needs, terms of the regions with affiliates and brokers.
  • Negotiate and sign annual terms.
  • Analyze insurance product savings for the firm (captives, etc).

 

SHAREHOLDER RELATIONS/SAR:

 

  • Prepare year end valuation calculations.
  • Support and review all Shareholder transactions.
  • Prepare and execute all equity and tax distributions to shareholders.
  • Prepare all documents and necessary materials for year-end shareholders meetings.
  • Compute estimated tax payments for shareholders and prepare TX-1
  • Compute year-end tax liability relating to all shareholder distribution. Record in financial statements.
  • Prepare and issue K-1’s.

 

CONTRACTS:

 

  • Provide backup for all contract review and negotiations with General Contractors.
  • Understand GMP metrics and how to assist Regions/GE’s with margin maximization.

 

PLANNING:

 

  • Assist in formulating the company’s future direction and supporting tactical initiatives.
  • Monitor and direct the implementation of strategic business plans.
  • Develop financial and tax strategies.
  • Manage the capital request and budgeting processes.
  • Develop performance measures and monitoring systems that support the company’s direction.

 

OTHER:

 

  • Travel to Northern California to support PNC CAO and attend executive meetings- occasional.
  • Understand and assist all shareholders/executives with risk profiles of subsidiaries and PGI.
  • Monitor all transactions in the states of Washington and California and insure they fall within legal guidelines.
  • Assist senior leadership with acquisition strategies.
  • Participate in employee benefit plans.
  • Participate and prepare all discretionary income documentation and payouts.
  • Participate and prepare all quarterly 401K program changes and updates.
  • Oversee all subsidiary cash flow items.
  • Prepare, support and collaborate all discretionary income programs with other PGI leadership. 

 

 

Requirements

 Search Criteria: 

 

MUSTS:

 

  1. 1.     10 to 15 years of senior-level financial/accounting experience in a construction-related company.

 

  1. 2.     A similar number of years of experience with construction financing, WIP schedule calculation and evaluation, construction tax, and construction job cost accounting software packages. 

 

  1. 3.     A CPA, MBA or other advanced degree or certification.

 

  1. 4.     Proven success at leading and managing professionals in finance/accounting, including team development and efficient deployment through a practiced coaching and a people-focused management style.

 

  1. 5.     Ability to partner with CEO, President and other members of the executive team to drive and influence the future direction of the company while bringing their own point of view and expertise to insuring the continuing excellence of the finance/accounting and administrative departments.

 

 

PREFERRED:

 

  1. 1.     Previous experience in a Specialty Construction company.

 

  1. 2.     Experience with and understanding of due diligence, analysis and evaluation of financial reports related to potential M&A activity.

 

 

 

 Company Culture

Among other things, the culture at PGI can be described as:

 

-       Transparent, straight forward.

-       Performance-based decisions, rewards and acknowledgment.

-       Caring

-       Family oriented, but logical and businesslike.

-       Logic rules, but in a compassionate way.

-       High on performance and accountability as standards of advancement.

-       A premium placed on “doing things the right way” and investing in internal growth and sustainability.

 

 

 

 

 Initial 

 Expectations: 

 

First 6 to 12 Months:

 

-       Gain a thorough understanding and master the current state of Accounting, Tax, and Financial mechanics at PGI and make any necessary adjustments.

 

After 18 to 24 months:

 

-       PGI has a great many operational procedures that are not GAAP or financial accounting related. Items like projection packages, business plans, cash position modeling, and job cost transfers will take more time to master but should be understood by this point.

 

-       Along with operational reports/statements/ processes/ PGI has particular quarterly and annual meetings that require report generation, distribution and review. Due to the infrequency of these processes, it is understood that the incumbent will require more time to integrate these but should be up to speed by this juncture.

 

 

 

 

 

 

 

 Behavioral Traits

 & Skills:

 

 

-       Intelligent and collaborative

-       A team builder who actively and enthusiastically financial and administrative departments.

-       A strong work ethic and commitment to accuracy and follow through.

-       An individual who is comfortable going the extra mile in supporting and protecting senior leadership.

 

 

Categories

Posted: 2019-09-10 Expires: 2019-10-10

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Chief Financial Officer

Corporate Strategies Search
Seattle

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