Flow Control Group Looking for Vice President, Finance at Lincoln, RI, United States Full Time

Job Description

ABOUT FLOW CONTROL GROUP (FCG) AND INDUSTRIAL FLOW SOLUTIONS

Flow Control Group was founded in 2014 by industry veteran David Patterson. Under his leadership the business has grown to $1.1bn revenue and was successfully recapitalized by KKR in April 2021.

FCG has created the Industrial Flow Control (“IFC”) operating group that constitutes of 30 branches across the United States with a combined revenue of $500 million. IFC is the premier value-added distributor and service company for air compressors, pumps, valves, instrumentation and filtration equipment for industrial customers.

OUR TEAM:

With a culture of service, FCG and IFC are also dedicated to employee engagement and the employee experience as a key driver in building stronger businesses. FCG has an in-house learning and development department committed to world class employee education. FCG and the brands that make up our organization encourage and support our employees to volunteer and support non-profits and community programs. FCG also allows employees to take part in ownership by granting the opportunity to participate in any equity return. While we are many companies, at FCG, we are truly one team!

Purpose & Responsibilities **(Note: This position can be based in Rhode Island or south side of Boston, MA)**

Reporting directly to the FCG Chief Financial Officer and the President of IFC, the Vice President of Finance will be responsible for all aspects of financial accounting and reporting. The VP of Finance will bring insightful analysis, process, reporting, metrics, and disciplined control to drive continuous margin improvement. This role will provide key leadership in divisional and operational financial functions including financial and operational control; planning, forecasting and analysis; financial reporting; future financial systems implementation, integration and consolidation; cash flow treasury; risk management, audit; taxes; project management; cost containment; working capital management; as well as supporting corporate development activities, which includes strategic acquisitions. Above all else, the VP of Finance will contribute to growing EBITDA and increasing the overall value of the enterprise.

As a key member of the IFC executive team, the VP of Finance will be challenged to lead as a “player/coach” with a highly entrepreneurial “roll up your sleeves” approach. In this capacity the VP of Finance will flex from high level involvement including strategy and M&A involvement to hands-on operational activities such as day-to-day accounting matters, financial modeling, forecasting, project profitability analysis, etc. The ideal executive will have an operational orientation and will lead in an entrepreneurial, resourceful manner, consistently delivering targeted results with lean resources. The VP of Finance will partner closely with the President, IFC leadership team, and the FCG executives, along with a variety of external stakeholders including accountants, lenders and legal counsel when appropriate.

In order to be successful in this role, the VP of Finance will be highly effective across a variety of areas that include the following:

Executive Leadership, Operational Orientation, and Value-Add

• Help drive the performance, strategic planning, and growth orientation of the business;
• Provide forward looking insight and function as a strategic business partner, enabler, and a problem solver of strategic issues;
• Work hands-on with the IFC leadership team and divisional leaders to support business initiatives and strategic projects, providing support and direction on cost-benefit analysis and appropriate financial impacts (capitalization, expense, etc.);
• Partner with Sales, Operations, and other teams to build useful forecasts, dashboards, and processes for running those aspects of the business;
• Play a key role improving operational effectiveness across the enterprise;
• Lead, manage, assess and help build a high-performance team and growth culture based on providing value to customers, direct communication, compliance, and accountability; and
• Oversee all matters related to IT operations and resources.

Accounting & Finance

• Personally lead and oversee all aspects of accounting operations, overseeing transactions related to general ledger, receivables, payables, payroll and financial reporting;
• Conduct detailed review of financial results on a monthly, quarterly, and annual basis; including comparisons against plan and identifying key drivers of financial results;
• Prepare financial management reports/metrics and presents findings and recommendations to CFO & President.
• Prepare board materials regarding financial results and projections;
• Oversee the annual audit preparation and process for the operating company. Provide financial information to auditors and examiners as required, as well as regulatory and reporting entities as requested;
• Assist in tax planning and compliance with all required federal, state, local, payroll, property, and other applicable taxes;
• Oversee cash operations, including accounts payable and receivable for the operating company and provide liquidity forecast for the group;
• Prepare the annual financial budget, including premium and loss planning, commissions, expenses, divisional and departmental budgets, reforecasts, and variance analysis;
• Direct financial plan updates and projections on a regular basis throughout the year, and produces one-year and multi-year proformas;
• Develop, document and maintain accounting controls;
• Extensive spreadsheet modeling and development of presentations as required;
• Leverage advanced MS Excel skills to drive analysis and decision making within the management team and in collaboration with the sponsor; and
• Be well grounded in GAAP, with extensive experience in operational finance and accounting.

Acquisitions & Integration

• Spearhead diligence, modeling, and integration of potential add-on investments;
• Lead and drive ongoing integration and synergies between various business units and add-ons, including the full integration of accounting, information technology/ERP, insurance, benefits, taxes, treasury, 401(k), et al;
• Realize financial and operating synergies among the Company’s operating divisions and entities through consolidation and aggregation;
• Implement best global practices in organizational design, process, and technology adoption; and
• Leverage discipline, process, reporting, metrics, and controls to drive continuous margin improvement across the combined enterprise.

Professional Qualifications

Functional Experience

• The successful candidate will have at least 10 years of progressive financial management experience in accounting, finance, and operations. He/she will have demonstrated success for at least 3 years in a Corporate VP of Finance role or similar top financial function for a company or business unit. Experience within a private equity environment is preferred.
• He/she will have a “hands on,” general management perspective and demonstrate a track record of partnering with the President or General Manager in growing the business and increasing shareholder value.
• He/she will have demonstrated financial leadership and business analysis capabilities within a high-stakes, fast-growing company. Experience with add-on acquisitions and leading the integration of acquired companies is required. The successful candidate will have demonstrated his/her knowledge of financial systems and infrastructure. This knowledge will include developing financial reporting and internal controls in an organic and acquisitive growth environment. Expertise in optimizing an ERP system is preferred.

Sector Experience

• Prefer a leader with one of the two following backgrounds:
  • A “best-athlete” from any number of sectors with the ability to apply his/her industry experience within the IFC model
  • An “industry-veteran” from a multi-site distribution or industrial services environment

Career Progression Profile

• Our ideal candidate will have early career experience in a larger company, “blue chip” environment such as a “Big 4” audit firm or larger corporate enterprise. More recent experience leading a division in an upmarket, fast-paced company.

Education

• Undergraduate Degree required/MBA preferred
• CPA preferred, but not required

The Person

Interpersonal & Leadership Qualities

The candidate must possess a leadership x-factor that inspires a contagious belief and “will to win” throughout the organization. This individual will balance hands-on leadership with empowerment of teams, be highly resourceful, and able to achieve winning outcomes within a backdrop of finite people and technology resources. The person will absolutely own all outcomes with a maximum focus on personal accountability. The successful candidate will be a proven and established leader with a track record of building high performance teams, winning cultures, and rapid, profitable growth. The individual must balance contagious levels of confidence with authenticity, self-awareness, candor, humility, and pragmatism.

Drive

The person must be defined by an obsessive focus on execution, stretch-drive performance, strong bias for action, decisiveness, and a sense of urgency. He/she will have the highest standards for performance and drive accountability across the Company. The individual will be a fierce and inspiring competitor and embed that ethos throughout the organization. The successful candidate will be hands-on, highly resourceful, and able to get the most out of finite people, process, and technology resources.

Critical Thinking

The candidate will be intellectually rigorous and able to engage in and enrich robust discussion, problem solving, and planning. He/she will display an innate intellectual curiosity. The candidate’s ability to execute will be complemented by a well-rounded strategic perspective. The person will have sound judgment and support efficient and sound decision making.

Integrity

The placement must be rooted in integrity and represent themselves in a truthful and straightforward manner. He/she will be intellectually honest and self-aware regarding their own capabilities, limits, and interests. The individual will be highly confident but grounded in an appropriate level of humility and must place the organization and its investors ahead of his/her own interests.

EQUAL OPPORTUNITY EMPLOYER | DRUG-FREE WORKPLACE

Flow Control Group and its family of brand companies is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, disability, or veteran status. Flow Control Group is a drug-free workplace.

NO AGENCIES PLEASE

No agencies please. Any unsolicited resumes sent to Flow Control Group from a third party, such as an Agency, including unsolicited resumes sent to Flow Control Group mailing address, fax machine or email address, or directly to Flow Control Group employees will be considered Flow Control Group property. Flow Control Group will not pay a fee for any placement resulting from the receipt of an unsolicited resume.