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ABOUT THE COMPANY: SVP Worldwide, doing business through SVP-Singer Holdings, Inc. and its affiliates, is the world’s largest consumer sewing machine company, accounting for approximately one out of every three household sewing machines sold annually across the globe. The company and its three iconic brands – SINGER®, VIKING®, and PFAFF® – have delighted consumers for over 460 years. These premium brands and products are regarded as the choice for serious sewists and novice crafters.
The company’s corporate headquarters is located in Nashville, TN, and supported by regional headquarters/sales offices located in Milan (Italy), Brazil and Mexico City (Mexico) that, combined, reach consumers in more than 180 countries. SVP has manufacturing facilities across Asia and Latin America, multiple R&D centers, a software development center in Europe, and a global supply chain with distribution centers in all regions.
SVP Worldwide has a history of innovation and has established a leading offering in the Internet-of-Things (IoT) segment by introducing mySewnet®, the industry’s first cloud-based operating system. Its product portfolio covers entry-level sewing machines all the way up to advanced, internet-connected, leading-edge household sewing machines that retail from entry level to premium and all segments in-between. In addition to sewing machines, the product portfolio includes sewing accessories, notions, crafting, garment care products as well as software.
The products are sold across a network of sewing machine dealers, mass retailers (e.g., Costco, Walmart, Lidl, MediaMarkt, Carrefour), specialty retailers (e.g., Joann, Michaels), online retailers (e.g., Amazon, Tmall), distributors, and through the company’s 180 internally operated retail stores.
ABOUT THE POSITION:
The Sr. Director of Strategic Finance and Analytics has primary responsibility for leading strategic financial planning and analysis globally.
ESSENTIAL DUTIES AND RESPONSIBILITIES: (Other duties may be assigned)
Forecasting-
- Manages annual consolidated budget process which includes the development of key targets by region, top customer channel, and cost centers
- Lead cash flow management on weekly, monthly and annual basis to assure liquidity
- Leads SVP Worldwide monthly financial forecasting process with companies strategic objectives
- Drive key profit threshold Direct Contribution Margin (DCM) by region, channel, key customers and product segments , ie machines, software, and other sewing related products
- Financial support to SVP profitability roadmap projects
- Manages monthly Global Operating Reviews which includes a full year forecast for each region, cost centers and manufacturing.
- Manages consolidated three-year plan model as well as five-year outlook used in goodwill and trademark impairment analysis
Process Management-
- Manages a team of 3-4 members, with a dotted lines to regions leads in EMEA, LATAM & APAC
- Manages monthly managerial reporting process for ELT and the total enterprise
- Develops and executes processes to allow for routine analytical reviews of company financial and operational performance, leveraging the SVP Worldwide newly implemented Catalyst system, data warehouse and regional businesses analytical resources and tools
- Manages SVP Direct Contribution Margin reporting and customer profitability and monthly DCM threshold reviews
- Development of database to monitor and track trends within the sewing machine and sewing and home essentials market which includes accessing the competitive price comparisons and market size
- Drive expansion of utilization of SVP newly implemented Catalyst system (data lake)
- Ad hoc analytics driven by CEO, CFO and Board of Directors
Reporting Responsibilities-
- Consolidated daily sales reporting utilized by ELT and global sales force
- Maintain daily reporting distribution utilizing Catalyst system
- Daily, weekly & Monthly ELT strategic initiative KPI’s tracking’ update
- Weekly sales and flow-through margin reporting used in weekly ELT meeting
- Monthly Operating Report deck – Regional Sales P&L, Operational update – Supply Chain, Manufacturing, Procurement ‘ Quality, and Cost Centers
- Manage monthly Ops report to be distributed to ELT and Board of Directors/PE
- Manage Quarterly Board/Private Equity and Lender meeting presentations
- Monthly Operating Report – Consolidated Update
- Annual Budget package for Board of Directors and Minority Equity Stakeholders
- Manage EBITDA to Free Cash Flow monthly update for OPS review deck
QUALIFICATIONS/REQUIREMENTS: To perform this job successfully, an individual must be able to perform each essential duty satisfactorily.
The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Education/Experience-
- Bachelor’s Degree in Accounting, Finance, or another business-related field is required
- MBA preferred
- Prior Private Equity FP&A experience preferred
- Minimum of 10+ years of experience in the area of financial reporting or the equivalent
- Minimum of 5+ years of experience leading a team, including developing, engaging and acquiring top talent
Skills and Abilities-
- Analytically curious, challenges the status quo and leads from the front
- Manage and supporting international teams and processes
- Established objectives and work plans
- Involved in developing, modifying and executing policies and controls that have immediate impact to functions and company-wide effects
- Analytical and drive for results leading a global team
- Establishes and assures adherence to deadlines and performance requirements
- Strong communicator and influencer across ELT, senior management and board of directors/ Private Equity
- Demonstrates independence and accountability for results, focuses on delivering solutions for stakeholders
- Takes responsibility of communicating information, presentations are well-organized and easily understood by others
- Strong knowledge of stakeholder’s financial focus or needs, provides value beyond the current transaction, displays sense of urgency in addressing stakeholder’s questions/concerns
- Accomplished user of financial systems and Microsoft office applications – advanced Excel and Google Suites
- Strong understanding of P&L to Balance Sheet and levers to drive cash flow
SUPERVISORY RESPONSIBILITIES: Carries out supervisory responsibilities in accordance with the organization’s policies and applicable laws. Responsibilities include interviewing, hiring, and training employees; planning, assigning and directing work; appraising performance; rewarding and disciplining employees; addressing complaints and resolving problems.
WORK ENVIRONMENT: Works in a typical office environment. Ability to travel domestically and internationally 5-10% of the time.
THE INDUSTRY
The sewing & crafting industry is a global industry that experienced renewed growth over the past three years. In developed markets, growth rates are projected to outpace GDP growth, according to Global Industry Analysts, Inc., the leading industry data source. Growth in these markets is driven by the millennial generation that is increasingly attracted to personalization, crafts, and self-expression. In developing markets, the industry is expected to grow at 4% annually, fueled by the emerging middle class and the “need to sew” segment that uses sewing machines to support the household.
THE FUTURE
In 2021, SVP Worldwide was acquired by Platinum Equity (www.platinumequity.com), a global investment firm with more than $25 billion of assets under management and a portfolio of approximately 50 operating companies that serve customers around the world. Platinum Equity has committed to fully support SVP’s continued growth and to bring additional financial and operational resources to bear to help accelerate the company’s efforts.
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