Chief Financial Officer (CFO)

Employer
IT Coalition
Location
Alexandria, VA
Posted
Jan 19, 2022
Closes
Jan 22, 2022
Ref
322248906
Function
Executive
Hours
Full Time
Chief Financial Officer (CFO)IT Coalition, Inc. is an information technology and consulting company focused on servicing the needs of the Federal Government. IT Coalition's mission is to apply earned expertise in information technology and business services to assist this client in achieving its mission. IT Coalition is located in Alexandria, VA and offers outstanding compensation and benefits plan and a challenging and rewarding professional work environment. ITC is a mid-sized government contractor (recently emerging from small business) with approx. 1100 employees and 80M in annual revenue. There are 2 main lines of business at ITC. The first line of business (approx. 40% of our revenue) is IT Services (IT infrastructure, SW, Oracle ERP) and the second line of business (approx. 60% of our revenue) is large business process outsourcing contracts with a large number of low wage SCA type employees. While we are able to do Cost Plus Work ITC's portfolio is all FFP, FUP, and T contracts. Approx 23 of our 26 contracts are Prime contracts. In 2020 ITC upgraded our financial system from Deltek GCS to Deltek CostPoint. We also changed payroll providers, moved to self-insured benefits plans, and integrated a third party vendor to help us manage SCA compliance. We utilized a significant number of consulting resources to do this upgrade and bring our system into compliance so that we can now consistently close our books in a timely manner and get accurate financial reporting. Moving forward we are looking for a CFO to help manage this system to hit all internal calendar milestones and service levels (invoices out quickly, books closed and reconciled by the 20th, PSRs produced monthly, quarterly deep dive reviews, annual bank audits completed in April, etc). We are also looking for a CFO who can lead the strategic financial planning with the owners. We need someone who has extensive experience working with banks and financial institutions, can develop budgets and forecasts, and has experience with Mergers and Acquisitions. We need someone who can help prepare the company for a future event in the near term. That event is not determined yet and may include an acquisition, a sale, a divestiture, a private equity partnership etc. We need a strategic business partner who can be a key part of the Senior Executive Management team to help operate ITC's financials rigorously while helping plan for the future. IT Coalition is looking for an experienced Chief Financial Officer/CFO to join our executive team.ResponsibilitiesLeads monthly closing and prepares financial reporting package.Manages a team of 5 (Controller, AR, AP, 2 Payroll resources)Performs analysis of G, OH, Fringe and individual program performance to understand trends and make corrective actions.Leads forward pricing analysis.Leads the M strategy for ITC. Prepares all financial packages for M as needed. Leads the financial component of all Requests for Equitable Adjustments (REA)Coordinates with all third party vendors as requires for financial management (Benefits Broker, third party SCA compliance firm, insurance carriers, bank, auditors, etc)Manages ITC's audit preparation and response for annual bank audits (and other audits as required)Develops financial well-being of the organization by providing financial projections and accounting services, preparing growth plans, and directing staff.Accomplishes finance human resource strategies by determining accountabilities; communicating and enforcing values, policies, and procedures; implementing recruitment, selection, orientation, training, coaching, counseling, disciplinary, and communication programs; planning, monitoring, appraising, and reviewing job contributions; and planning and reviewing compensation strategies.Develops finance organizational strategies by contributing financial and accounting information, analysis, and recommendations to strategic thinking and direction and establishing functional objectives in line with organizational objectives.Establishes finance operational strategies by evaluating trends; establishing critical measurements; determining production, productivity, quality, and customer-service strategies; designing systems; accumulating resources; resolving problems; and implementing change.Develops organization prospects by studying economic trends and revenue opportunities; projecting acquisition and expansion prospects; analyzing organization operations; identifying opportunities for improvement, cost reduction, and systems enhancement; and accumulating capital to fund expansion.Develops financial strategies by forecasting capital, facilities, and staff requirements; identifying monetary resources; and developing action plans.Monitors financial performance by measuring and analyzing results, initiating corrective actions, and minimizing the impact of variances.Maximizes return on invested funds by identifying investment opportunities and maintaining relationships with the investment community.Reports financial status by developing forecasts, reporting results, analyzing variances, and developing improvements.Updates job knowledge by remaining aware of new regulations, participating in educational opportunities, reading professional publications, maintaining personal networks, and participating in professional organizations.Accomplishes finance and organization mission by completing related results as needed.Chief Financial Officer Qualifications/Skills:Financial planning and strategyMergers and AcquisitionsManaging profitabilityStrategic planning and visionQuality managementPromotion of process improvementForecastingCorporate financeBudget developmentEducation, Experience, and Licensing RequirementsMBA or bachelor's degree in business, finance, accounting, or equivalent experience.Deltek CostPoint Experience RequiredMaster's degree preferred.Certified Public Accountant certification a plus.Minimum 10 years' experience in accounting and financial management practices.Must have been involved with multiple M transactionsExperience in a senior management position.Proficiency with accounting software, word processing, and spreadsheets.Solid GAAP and financial reporting technical skills.