Our client is a privately owned pharmaceutical, compounding base and cosmetics company with a diverse product line. Located in the metropolitan Detroit area, they have a long and successful history in research and development, manufacturing and testing. They are dedicated to providing their customers with the highest quality products and service. With a commitment to its core values and creating a strong company culture our client’s business is growing and expanding.
Our client is looking for an experienced, proactive, and fully engaged financial leader to help take them to the next level. The CFO will be a deliberate and mindful steward of the of the company embracing and facilitating growth that is measured and safe. They will be charged with the careful and responsible management of all company finances. They will continually ensure all decisions are aligned with the owner’s vision and the company’s values. The CFO will be an integral and essential part of the executive management team and will actively participate in the future visioning of the company.
This position reports to the General Manager and Owner and has three direct reports.
The CFO will have primary responsibility for the planning, implementation, managing and running of all the finance activities of the company, including business planning, budgeting, forecasting and contract negotiations. They will direct the administrative and strategic affairs of the organization related to all financial activities. The ideal candidate will have a proven background in pharmaceutical, cosmetics, skincare, food or durable medical equipment manufacturing finance leadership. The candidate will be a self-starter and a “roll-up-your-sleeves” contributor who will thrive in an entrepreneurial environment. This is a culture with a strong emphasis on integrity, professionalism, resourcefulness, team players and a focus on the customer. The CFO will have high emotional intelligence and be accessible to the team. Measured and thoughtful they will be flexible, adaptable and able to pivot to respond to altered circumstances or conditions based on ever-changing customer needs. The successful candidate will have experience growing a company.
- Create effective systems, processes, procedures and documentation to ensure an optimized finance and accounting department.
- Help to create and implement three, five and ten-year business plans.
- Formalize a financial dashboard report.
- Define the structure and content of monthly financial deep dive and reporting.
- Standardize financial reporting.
- Use data to create measurable performance metrics.
- Methodically address problems, issues and supply solutions.
- Develop and implement clear, workable budgeting processes with spending controls by department.
- Cost accounting and manage investment spending for materials, personnel and equipment.
- Streamline expenses and develop operating and cashflow forecasts.
- Determine material, labor and overhead margins.
- Perform risk management by analyzing liabilities and investments and determine appropriate levels of risk.
- Decide on investment strategies by considering cash and liquidity risks.
- Monitor cash flow and avoid tapping into reserves and credit lines.
- Supply proactive analysis for making informed business decisions.
- Supply market research and risk analysis of potential new business opportunities and scalability.
- Review and revise existing contracts and help negotiate new contracts with customers and suppliers including services such as logistics and secondary manufacturing services.
- Develop strong relationships with customers and provide exemplary customer service.
- Act as a resource for the team and customers.
- Work with CPA firm on taxes.
- Maintain strong relationships with banks.
- Understand, meet and exceed industry standards and regulations.
Leadership and Management:
- Leadership skills with the ability to delegate, motivate and inspire team members.
- Demonstrate the highest integrity in their personal and professional life.
- Establish and develop relationships with senior management and external and internal stakeholders.
- Create an environment of empowerment and accountability.
- Wear many hats and work collaboratively.
- Exemplary interpersonal skills, including executive presence and the ability to establish and maintain rapport and trust with stakeholders at a variety of levels, both internal and external to the company.
- Clear and respectful communicator and listener.
- Proven ability to work with cross-functional teams consisting of highly skilled employees.
Respectfully challenge ideas and act as a sounding board.
- Build trust and understanding.
- Create a positive work environment by demonstrating and sharing functional and technical knowledge.
- Ten years of CFO or Vice President of Finance experience in pharmaceutical, cosmetics, skincare, food or durable medical equipment manufacturing.
- Extensive experience in a leadership role with a proven ability to manage small and large-scale projects and oversee the long-term goals of a company.
- Must understand and be able to flourish in a closely held privately owned businesses; understanding that a hands-on, roll up your sleeves approach may be required.
- Financial acumen and related analysis skills, including P&L, budget planning and creation, understanding pricing strategies and the ability to create highly accurate forecasting models.
- Entrepreneurial Operating System (EOS) experience a plus.
- The ability to present and explain complicated information in a clear and concise fashion.
- Must be patient, persistent, and persuasive.
A bachelor’s degree in finance, economics or accounting is required, and a master’s degree in business, finance or management is highly preferred. CPA is a strong advantage.