Job Title: Chief Financial Officer (CFO), Brooklyn Dumpling Shop
Position Summary:
Brooklyn Dumpling shop is embarking on significant expansion though its dynamic model of company-owned and franchised shops alongside consumer products sold in Retail. Now with funding from world-class investors to support accelerated domestic & international growth, the business requires a high-performance Chief Financial Officer (CFO) to serve as a foundational strategic leader for the business.
The CFO will be a founding member of the post-funding Executive team, charged with setting near and long-term financial goals, targets and strategy, including initial budgeting, financial planning, accounting & resource allocation, while continuously ensuring all financial & tax compliance and the ongoing financial health of the business. The CFO will have direct responsibility for accounting, tax, FP&A, technology, investor & board materials and compliance internally and with BDS partners including franchisees and retailers. Once foundations are established, a meaningful component of the role is working hand-in-hand with a strong team of advisors to take the business public, beginning with a listing in Canada.
Given the dynamic nature of the business, the responsibilities of the CFO will evolve, requiring someone flexible and capable of playing a variety of roles, particularly early on. Based on this, the role requires a culture-setting, growth minded leader with the range to roll up their sleeves and make things happen, while also having strategic vision and higher-level thought partnership & communication competencies.
Principal Duties:
Strategic Finance
• Establish and champion continuous process improvement efforts to support the profitable growth of the business, including franchisee profitability and in CPG products
• Fulfill all fiduciary responsibilities of the company while proactively evaluating key business issues to drive improvement in day-to-day operations
• Develop and lead a high-performance team of financial professionals internally and externally, inclusive of navigating the technical and strategic requirements of publicly listing a business through managing a team of advisors comprised of auditors, legal and tax, amongst others
• Build timely and accurate short-term planning, investment analysis and financial controls to support near and long-term business plans as the company significantly accelerates growth
• Provide ongoing analysis to support tangible cross-departmental business decisions such as resource allocation, real estate and supply chain decisions and go-to-market strategies
• Work closely with Operations, playing a proactive role in creating & implementing new systems, routines and technologies that have financial and operational impact, down to the shop level
• Optimize the performance of a rapidly growing omnichannel business – including shops, CPG, catering, eCommerce – through identifying opportunities for sales growth and cost savings within each channel, including for the company and for supporting franchisees
• Maximize Return on Invested Capital through managing the capital expenditure process, from analysis of requests, approval of spending and tracking performance & results, alongside capital allocation and budgeting processes
• Identify, evaluate, implement and manage external vendors to support ongoing evolution of business efficiency & capabilities
Financial Planning & Analysis
• Establish and maintain robust financial controls & systems to ensure accurate & timely reporting on all financial matters
• Build and maintain the primary financial model of the company, upon which key business decisions will be made; Organize and maintain cash flow model, timing of sources & uses and accurate forecasting
• Oversee the development and issuance of financial statements, reporting packages, and dashboards that are uniquely designed for different audiences (internal operations, Board, investors, etc.) within each Channel
• Implement operational KPIs across the Company to establish clear stretch goals across the business, with greatest emphasis on shop performance, franchisee profitability and consumer products
• Formalize and implement monthly, quarterly and annual budgeting and forecasting process and goal tracking with department heads; ensure resources are aligned to enable growth initiatives and drive cost efficiencies
Accounting
• Maintain capitalization table and manage all equity and debt financing transactions, structure and documentation
• Partner with auditor to establish accounting and operational procedures with streamlined processes, while establishing internal capabilities
• Ensure that effective internal controls are in place and we are always in compliance with applicable federal,
state and local regulatory laws and rules for financial and tax reporting
• Lead treasury relationships and manage all banking activities
• Ensure effective management of working capital, including thoughtful leadership of Accounts Receivable and Accounts Payable
• Establish and maintain the Company’s year-end audit and income tax returns and manage relationships with any external auditors
• Assist in providing financial input on annual liability package and other insurance renewals
• Establish and lead the administration and financial reporting of the organization’s 401(k) plan, alongside other administrative duties such as company healthcare plans
Skills & Requirements:
• Empathetic leader with sound & trusting business judgement capable of creating & maintaining a high-performance, culturally-aligned team
• Impeccable level of integrity, ethics, ownership, accountability and dependability with a strong sense of urgency and ambitious results-focused orientation
• Willingness and desire to do what is required to build an ultra-fast paced startup into a world-class business that achieves its significant potential
• BS in Business Administration, Accounting or Finance; MBA, CFA and/or CPA highly desirable, but not required
• 10+ years in progressively responsible financial leadership roles
• Experience in an omnichannel, venture or private equity backed Consumer business, with strong preference for Restaurants, CPG and/or Retail
• Ability to source, foster and cultivate business opportunities, strategic partnerships, talent and investor relationships that continuously elevate the company
• Strong interpersonal skills, with ability to communicate and manage well at all levels of the organization and externally with franchisees, vendors & investors; Ability to communicate effectively in both written and verbal form
• Advanced proficiency in Excel, Powerpoint and accounting software required
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