Chief Financial Officer Jobs

THE COMPANY

FLEET OPTICS was founded in 2015 to provide urban customers with “Final Mile Logistics”. We started out with just a few sprinter vans in Southern Ontario and have now accelerated our growth to 5 cities across Canada, with plans for more to come in 2023. In these uncertain times, our promise is to ensure that we get your packages to your customers, on time and in perfect condition. We leverage our proprietary software, Fleet Optics Access, to ensure that customers know when their package will arrive, and we update them if anything changes. This means that people are no longer waiting around for their delivery to be made, which enhances their satisfaction and overall customer experience.

We move at the speed of your business. Fleet Optics Access – our proprietary suite of online tools, offers your managers peace of mind by providing them a transparent view of all driver activity and helps your business reduce transportation and administrative costs while improving overall productivity. A transparent process gives your CSR department visibility to your products’ journey, with a focused end-user experience, which ultimately moves inventory faster.

Final-Mile delivery has seen rapid growth and will continue to do so to meet the demands of increased e-commerce and online shopping. Delivery standards are rapidly changing, and Fleet Optics' delivery velocity, combined with our advanced technology, separates us from the competition. As a solution-oriented organization, we continuously push to improve our technology, our company, and our people. We will continue evolving to provide sustainable solutions, including the initial deployment of an e-bike program in our Vancouver location. We plan to expand our greener delivery option(s) into more urban cities.

Report on Business ranks Canada’s Top Growing Companies in an editorial ranking that was launched in 2019. It aims to celebrate the boldest entrepreneurial achievements by identifying and bringing the accomplishments of innovative businesses in Canada. In order to qualify for this voluntary program; companies had to complete an in-depth application process and fulfill requirements. In total, 430 companies earned a spot in the 2022 ranking. Fleet Optics ranked #213 with a three-year growth rate of 196%.

THE ROLE

POSITION TITLE: Chief Financial Officer (CFO)

REPORTS TO: Managing Partners

DIRECT REPORTS: Direct 3-4

WORK LOCATION: Mississauga, ON

POSITION SUMMARY: Reporting to the Managing Partners, this role is critically important for the ongoing growth and financial health of the company. The successful candidate will plan, build, lead, and direct an internal accounting and finance function to ensure proper standards of financial controls, integrity, accuracy, and compliance to support the continued growth and scale of the business. Additionally, the CFO will provide ongoing thought leadership support to the Managing Partners to ensure that business targets are achieved.

KEY ACCOUNTABILITIES / RESPONSIBILITIES:

Create a professional and rigorous finance function that provides corporate and financial oversight and insights beyond basic accounting. This includes but is not limited to:

• Implement a new financial accounting platform to replace QuickBooks
• Establish an accrual accounting system that takes no more than 15 days after month end to close the books
• Develop an efficient billing and collection system that helps keep accounts receivable days outstanding below 45
• Developing a budgeting/forecasting/reporting process throughout the company and departments.

Act as a strategic thought partner to the Managing Partners in the development of the Company’s multi-year growth plan. Provide fact and metric-based leadership support to find ways of improving the effectiveness and productivity of key functional areas.

• Partner with operations to build dashboards to develop and track financial metrics.
• Improve the leadership team’s ability to “see around corners”.
• Translate customer acquisition plans into hiring/staffing plans and into financial projections; understand the implications of growth on organizational needs; identify areas of process improvement and/or cost efficiency; identify ways to enhance scalability, speed, and nimbleness of the organization.
• Be an active member of leadership; establish the finance team as problem solvers for the rest of the organization.
• Build on the work in progress to create a strategic framework for the organization; think creatively to shore up existing revenue streams and identify new opportunities.

Manage growth from $14 million in EBITDA to $31YY million by 2025 and $36 million by 2026 while concurrently managing debt balances of 2.00x to 3.50x EBITDA.

• Interact effectively with lenders and investors in a PE context.
• Establish good communications and relationships with Company’s lenders.
• Manage overhead expenses and capital expenditures with a return-on-investment mindset.
• Effectively manage the evaluation, decisions, and integration of acquisitions.
• Keep the company in covenant compliance and meet all lender reporting requirements.

Create a culture of innovation and growth in Finance/FP&A and all other support areas, especially leveraging technology to drive efficiency.

• Operate at a high “clock speed” to keep initiatives on track and support test-and-learn initiatives across the organization.
• Encourage a mindset of problem-solving and continuous improvement within your team and the broader organization.
• Evaluate and upgrade various finance and business systems and processes to further increase efficiency and drive down cost. Introduce automation where appropriate.
• Introduce processes and/or technologies to improve operational efficiency, improve client experience and make them “sticky”.

Effective communication and Board management.

• Proactively communicates with the Board and demonstrates transparency.
• Demonstrates timeliness and responsiveness in responding to board and investor requests.
• Engage effectively with the Board and financially motivated owners; Communicate accurate targets, milestones, strategy, and financial results and enlist support and consensus.
• Demonstrate a collaborative approach and openness to Board suggestions. Leverage the expertise of the Board when making key decisions.
• Bring a logical, analytical, and fact-based approach.

Position the company to find new capital partners by 2026.

• Represent the company effectively during pitches and due diligence; serve as the credible face and a visible leader of the organization.
• Interact effectively with bankers, lawyers, etc. to negotiate and execute a successful transaction.
• Within the next two to four years, support the Managing Partners to position the company to sell to another private equity firm.

EDUCATION / EXPERIENCE:

Note: A combination of education and experience outside of the standards below may also be considered.

MINIMUM FORMAL EDUCATION: Bachelor’s Degree

Type of Education (or Major) Required: Finance and Accounting required. MBA preferred. Designation(s) Preferred or Required: CPA or CMA preferred.

MINIMUM EXPERIENCE: 15+ years of progressive finance and accounting experience, preferably with an international organization. Type of Experience Preferred: 10+ years of leadership experience preferred.

REQUIRED KNOWLEDGE / SKILLS:

• Versatile and agile leader, who can add value beyond their primary scope of responsibility. Able to flex their leadership to varying situations and pivot when circumstances evolve and change.
• Effective communication skills are critical. Both verbal and written communication skills will be essential in producing the results required for the role.
• Remains calm under pressure and uses setbacks/failures in a healthy way to fuel learning.
• Naturally curious and interested in understanding the why as well as the drivers of the business. Willing to find solutions and more effective ways of working. Is compliant with company policies yet still able to improve upon best practices.
• Recognizes that their professional conduct reflects the Business.
• Demonstrates strong attention to detail and consistently delivers high-quality work. Does not shy away from tough problems or challenging targets and ensures their team is achieving their individual and functional goals.
• Takes appropriate responsibility for their own part in both the successes and failures of their team and the organization.
• Strategic thought leader who possesses a strong analytical mind. Does not succumb to analysis paralysis and the need to be overly precise when conclusions, recommendations and plans are needed.
• Engages authentically and shares bad news readily, in a spirit of partnership rather than “selling” or “spinning”.
• Possesses an entrepreneurial spirit with a desire to support and grow the business.
• Computer proficiency with the Microsoft suite of products (particularly Excel) and ER implementation experience is required; data analytics and / or reporting query expertise would be considered an asset.
• Strong interpersonal skills and a proven ability to engage with internal and external stakeholders (bankers, lawyers, Board Members, team members).