Chief Financial Officer

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Job description

Chief Financial Officer | High growth, early-stage Medical Device Company Oakland (San Francisco) CA

Position Summary:

As the company's first Strategic CFO you will help develop, evaluate, and implement the company's overall strategy, with emphasis on growing sales, driving bottom-line performance, effectively managing cash, and ultimately enhancing stakeholder value leading to an IPO or successful exit. You will provide useful and timely financial insights which help the CEO and Executive Team make better decisions in developing and executing strategy. Critical outcomes include supporting the CEO and Executive Team with key financial information and operational analytics, driving a culture of accountability in managing the business, adding value to operating businesses, and driving future fund-raising activities which may include an IPO.

For you to be successful, you must be technically savvy, understand valuation drivers and other essential factors to increase cash flows, as well as reduce risk, thus enhancing the overall value of the company.

General Responsibilities:

• As a Senior Member of the Leadership team, you will provide timely and relevant financial insights to the CEO, and Executive Team, helping drive better decisions in developing and executing the company's business strategy and mission to improve patient care.
• Manage financial reporting systems to yield data and reports that are accurate, timely, and compliant with all financial reporting regulations and government contractor obligations and provide sufficient detail to make sound business decisions, drive accountability within the organization, and ultimately support robust due diligence process.
• Aggressively manage the company's cash, balancing the growing needs of the business with the challenges of raising additional cash and managing debt.
• Provide strategic direction of all financial functions including accounting, budget, credit, insurance, tax, and treasury.
• Lead and actively participate in the company's fundraising efforts including a planned $30MM Series C in mid-2021.
• Drive the annual budget process (bottom-up approach with clear accountabilities), and provide meaningful monthly updates of progress (that not only explain the 'why' behind variances but proactively identify future issues and opportunities).
• Establish internal control processes that are clear and drive accountability, a capital expense process with ROI and tie-back to budget, an effective approach to managing overhead (headcount, procurement of services/supplies, healthcare, business insurance, etc.), a risk management assessment with appropriate policies and an overall tax strategy.
• Drive accounting practices and reporting to ensure key functional metrics connect directly to the P&L.
• Identify savings opportunities with insightful analyses related to purchasing, logistics, inventory management, etc.

Specific Responsibilities

Strategy, Planning, and Management

• Assess and evaluate the organization's financial performance concerning long-term goals, budgets, and forecasts.
• Provide insight and recommendations to both short-term and long-term growth plans to include.
• Create and establish financial objectives that align with the company's aggressive growth and expansion plans.
• Monitor and analyze monthly operating results against forecast and budget.
• Provide M&A leadership and due diligence support for possible future acquisitions and strategic business relationships as required.
• Prepare financial analysis for contract negotiation and product investment decisions.
• Assess the benefits of all prospective contracts and advise the Executive Team on programmatic design and implementation matters.

Accounting, General Ledger, Administration and Operations

• Review and manage the application of appropriate internal controls, compliance, and procedures.
• Ensure timeliness and accuracy of reporting data including weekly, monthly, and annual financial statements, month/year-end closing activities, general ledger, and balance sheet accounts, etc.
• Oversee all facets of employee compensation, including payroll and equity compensation plans.
• Oversee the management and coordination of all fiscal reporting activities for the organization including organizational revenue/expense and balance sheet reports, development, and monitoring of organizational and contract/grant budgets.
• Develop and maintain systems of internal controls to safeguard financial assets of the organization including policy on revenue recognition.
• Remain current on audit best practices as well as state, federal, and local laws.

Financial and Cash Management, Relations and Policies

• Review and analyze monthly financial results and provide recommendations.
• Manage cash flow planning; ensure funds availability; oversee capital investments and asset management, provide risk and return recommendations.
• Represent the company externally to Government Agencies, Auditors, and Customers as appropriate.
• Establish that adequate controls are installed and that substantiating documentation is approved and available such that all purchases may pass independent and governmental audits.
• Work with the leadership team to ensure programmatic success through cost analysis support, and compliance with all contractual and programmatic requirements.

Leadership

• Drive employee engagement and continuous improvements.
• Provide strong business acumen, developing strategic plans in partnership with President and leadership team.
• Design, establish and maintain organizational structure to meet goals and objectives.
• Provide leadership as required by the CEO.
• Build, guide, and manage a team; guide cross-divisional teams outside of the direct span of control.

Education and Qualifications:

• 5 years VP++ Financial Officer experience in the Medical Device or related industry.
• 15+ years in progressively responsible financial leadership roles, preferably in a Medical Device organization, with annual revenue of at least $20 million (preferably more).
• Prior experience with a successful exit.
• MBA, financial certification in ACA, ACCA, CIMA, CPA, CMA, or other equivalent is preferred.
• Direct experience in debt and equity capital transactions; M&A experience is a plus.
• Exceptionally strong written and oral communications is a must; the ability to effectively communicate to various audiences, including C-level and BOD level client personnel.
• Outstanding personnel management skills and demonstrated leadership capabilities with a proven ability to work cross-functionally within organizations.
• Capable to travel and work remotely throughout the United States and internationally.

This job description is not intended to be all-inclusive and may have been abbreviated or maximized for online or mobile viewing. Employees may perform other related duties as negotiated to meet the ongoing needs of the organization.

Legacy MedSearch was named to 2019, 2020, and 2021 Forbes list of Best Recruiting Firms in America