What are the responsibilities and job description for the Vice President, Finance position at Gloria Gates Management?
Job Summary:
The VP of Finance will be responsible for managing the financial health of the organization by overseeing cash management, budgeting, and expense control. The ideal candidate will possess extensive experience in financial management, with a proven track record of developing and implementing effective financial strategies to ensure the organization's financial stability and growth. The position reports directly to the CFO and works closely with the executive and management team.
Key Responsibilities:
Qualifications:
The VP of Finance will be responsible for managing the financial health of the organization by overseeing cash management, budgeting, and expense control. The ideal candidate will possess extensive experience in financial management, with a proven track record of developing and implementing effective financial strategies to ensure the organization's financial stability and growth. The position reports directly to the CFO and works closely with the executive and management team.
Key Responsibilities:
- Cash Management:
- Monitor daily cash flow and manage cash reserves to ensure sufficient liquidity for operational needs.
- Review and monitor receivables; report any opportunities and challenges
- Develop and implement cash management policies and procedures to optimize cash utilization and minimize financial risks.
- Forecast cash flow requirements and coordinate with banking institutions to manage cash transactions efficiently.
- Budget Oversight:
- Lead the budgeting process, working closely with departmental managers to prepare and review budgets.
- Monitor and analyze budget variances, providing detailed reports and recommendations for corrective actions.
- Ensure alignment of budgets with strategic goals and financial objectives of the organization.
- Revenue Cycle Management Oversight:
- Oversee and manage revenue recognition process, verifying revenue and member counts
- Manage receivables, deposits, and billing, and communicate issues to senior management
- Document roster reconciliation and reserve process
- Expense Control:
- Oversee and manage all organizational expenses, ensuring adherence to budgetary constraints and financial policies.
- Review and approve expenditures, ensuring compliance with internal controls and approval processes.
- Conduct regular expense audits and analyze spending patterns to identify opportunities for cost savings.
- Financial Reporting:
- Prepare and present accurate and timely financial reports to senior management and stakeholders in accordance with generally accepted accounting principles (GAAP).
- Work with departmental managers to verify that all transactions are accurately reflecting the activity by department, class and location.
- Ensure proper internal controls over financial reporting and processes.
- Provide insights and recommendations based on financial analysis to support strategic decision-making.
- Metrics & Analytics
- Assist in establishing key metrics and analytics to meet company initiatives
- Create and manage the regular production of an executive dashboard
- Establish and manage routine analytic reporting cadence.
- External Finance Resources:
- Coordinate with external accounting, tax preparer, and audit companies on financial statements, tax return, and annual audit.
- Establish and document internal policies and procedures to ensure proper controls and compliance with accounting standards.
- Provide strategic guidance to senior management on areas of opportunity.
Qualifications:
- Bachelor’s degree in Accounting, Finance, public accounting experience or a related field; CPA or CMA certification preferred.
- Minimum of 10 years of experience in financial management, with a focus on cash management, budgeting, and expense oversight.
- Strong understanding of generally accepted accounting principles, accounting practices, and regulatory requirements.
- Proficiency in financial software and systems; experience with Sage Intacct is a plus.
- Strong technical skills with the ability to adapt to many software applications as needed.
- Excellent analytical and problem-solving skills, with the ability to interpret complex financial data.
- Strong organizational skills and attention to detail, with the ability to manage multiple priorities and meet deadlines.
- Effective communication and interpersonal skills, with the ability to work collaboratively with various stakeholders.