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Bailey International L.L.C. (“Bailey”) is a Knoxville, TN-based manufacturer and distributor of hydraulic cylinders and related components including power units, pumps, valves, motors, hoses and fittings, and bearings and bushings used primarily in mobile equipment applications.
Since Bailey’s founding in 1976, through constant reinvestment and product enhancement, Bailey has evolved into a diversified, industry leading manufacturer and distributor of highly engineered hydraulic cylinders and related products. With over 18,000 customers throughout the country, Bailey has a reputation for timely delivery of superior, competitively priced products supported by highly responsive customer service. In partnership with Bailey management, Pfingsten plans to continue Bailey’s impressive historical growth through continued geographic expansion, end market diversification, new product introductions, and strategic add-on acquisitions.
To ensure success in achieving our business plan goals (which include internal/organic and external/acquisition growth initiatives), Bailey is looking for a hands-on, operationally experienced proven financial/accounting professional to join the BAILEY leadership team in the role of CFO. The chosen candidate must be comfortable in the role as a player and coach, participating in all activity levels and areas within the company. It is also important that this person is an open communicator, cultivating an environment that supports teamwork, continuous improvement and innovation while maintaining high levels of expectations for performance. This individual will be responsible for all financial and fiscal management aspects of company operations, and will provide leadership and coordination in the administrative, business planning, accounting and budgeting efforts for a multi-location company.
The CFO will report to the President and CEO. Reporting to the CFO are the Accounting, Finance and Credit functional areas.
1. Adhere to and demonstrate the company’s core values (relationships, integrity, performance, innovation) and core purpose (making positive impacts on people’s lives) on a daily basis.
2. Lead all efforts surrounding financial reporting for the company. Ensure that effective financial analyses, accounting and control procedures exist and provide accurate, timely and meaningful analysis and reporting of company financial information in accordance with the company’s goals and objectives. Analyze cash flow, cost controls, and expenses to guide business leaders. Analyze financial statements to pinpoint potential issues or areas of the business that must be addressed by management.
3. Oversee the review of monthly actual results for reasonableness and continuity with budgets and prior year performance. Prepare detailed monthly “bridge” analysis focusing management’s attention on key initiatives.
4. Prepares Board meeting presentations and materials, analyze financial information, and report significant findings and issues to the President, Board of Directors, lenders/owners, and other operating managers. This includes participating in Board presentations on a quarterly basis.
5. Develop and direct the implementation of annual strategic business and operational plans. Evaluate and improve the planning process in order to streamline procedures, improve productivity and quality, and reduce costs.
6. Oversee financial aspects of corporate acquisitions (domestic and international), including financial due diligence, deal structure and financing, closing table and opening balance sheet establishment, and post transaction integration.
Bailey International L.L.C.
7. Define, design and complete special project analyses & accurate financial models and associated presentations for management, including profit margin analysis, analysis and identification of issues within inventory and plant workforce efficiency and work with entire management team to improve key business metrics.
8. Keep abreast of technology surrounding the company's financial and management systems to support the preparation of financial reports and analyses, including budgeting, tax planning, and asset tracking; ensure that department staff are trained in the use of existing systems to maximize efficiency. Identify and coordinate changes and improvements in financial and management information systems to improve efficiency.
9. Oversee the approval and processing of revenue, expenditure, and position control documents, department budgets, mass salary updates, ledgers, and account maintenance and data entry.
10. Maintain banking relationships and monitor cash position, debt instruments, line of credit, and interest charges.
11. Oversee insurance renewal process, reporting and risk assessment for property & casualty, workers compensation and health & welfare plans.
12. Establish and maintain appropriate internal control safeguards and ensure compliance with GAAP.
13. Provide solid and effective leadership to ensure that department staff are continuously motivated and contribute at an optimal level.
14. Work with and support the HR staff with the development and implementation of HR policies and procedures to address the needs of the employees, to support the strategic direction of the business and to ensure compliance with Federal and State law.
15. Serve on planning and policy-making committees.
Knowledge, Experience and Skill Requirements:
1. Experience in strategic planning and execution. Knowledge of contracting, negotiating, and change management. Knowledge of finance, accounting, budgeting, cost control principles and GAAP.
2. Knowledge of automated financial and accounting reporting systems. Knowledge of federal and state financial regulations. Ability to analyze financial data and prepare financial reports, statements, and projections.
3. Manufacturing experience required. International experience is a plus.
4. Experience in corporate mergers & acquisitions, including due diligence, deal structuring and financing, and post transaction integration.
5. Professional written and verbal communication and interpersonal skills. Ability to motivate teams to produce quality materials within tight timeframes and simultaneously manage several projects. Ability to participate in and facilitate group meetings. Comfortable with travel.
6. Degree in Finance or Accounting, a minimum of fifteen years of progressive or advancing experience in the finance and accounting area. A minimum of five years of experience in a senior level finance or accounting position. CPA or CMA preferred.
7. Strong work ethic with strength in building and working with a team environment of continuous improvement.
Software Capability Requirements:
The individual shall have experience and competency in the following software packages:
Excel – above average abilities required
Word – above average ability
Power Point – above average ability
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