Chief Financial Officer

Position Type: Management Team
Apply By: April 30, 2019
Posted: April 16, 2019 - 1:32 pm EDT
Organization Type: Co-op Service Organization
Organization: National Co+op Grocers
Organization Location: St. Paul
Organization Website: National Co+op Grocers
Contact Name: Send Letter of Interest and Resume to Simon Foster at:
Contact Email: [email protected]
Contact Phone:

National Co+op Grocers (NCG) is a member-owned business service cooperative providing a variety of services to retail food co-ops in 37 states. NCG helps unify food co-ops in order to optimize operational and marketing resources, strengthen purchasing power, and offer more value to food co-op shoppers everywhere.

 

Position Summary

The Chief Financial Officer (CFO) is responsible for ensuring NCG assets are protected, compliance with financial regulations, abiding by generally accepted accounting principles and communicating value and risk issues to the leadership team. The CFO will be responsible for all financial, accounting and analytical support to the organization. Reporting into the chief executive officer, the CFO will lead the finance, planning and analysis unit with responsibility and oversight for all financial reporting, asset/liability management, budget and forecasting and financial planning needs, lender relationships, treasury management, and act as the primary interface for all banking, tax and audit stakeholders, as well as with NCG’s Board of Directors.

The CFO will serve as a key member of and contributor to, the leadership team, contributing to strategic and operational matters and decisions through rigorous analytical support. This individual will need to contribute their voice to ensure a balance between entrepreneurialism and prudent risk management, as well as appropriate consideration given to operational and financial implications of any strategic priorities of the company.

The CFO will inherit a tight-knit finance team that functions well and collaboratively with other functions.  The team will likely need to be relocated over time to St. Paul, Minnesota.  Currently, two of the members are located in Iowa City, Iowa, and two are in Madison, Wisconsin.
 

Key Responsibilities

Financial Management

  • Develop and maintain systems of internal controls to safeguard NCG’s assets.
  • Oversee the coordination and activities of independent auditors and ensure that all audit issues are resolved.
  • Supervise the management and coordination of all reporting activities of NCG, including monthly consolidated balance sheet, income statement and cash flow statement.
  • Review monthly operating statements for accuracy and completeness, and report significant variances between actual and budget results.
  • Responsible for the preparation of the annual budget for NCG and subsidiaries, including balance sheet, income statement, cash flow statement and key ratios.
  • Oversee the inventory of fixed assets.

Compliance – Federal and State

  • Recommend to the CEO the optimum qualified or unqualified patronage dividend that results in the least state and federal tax consequences for NCG.
  • Prepare state tax allocations for states that NCG has nexus based on either single factor, multiple factor or any other method of the state.
  • Responsible for federal and state tax returns being completed properly and filed on time.
  • Keep NCG current with all tax liabilities as required by the state and federal agencies.
  • Supervise and review state filings of sales and use tax reports.
  • File the annual report with each state’s secretary of state.

Co-op Development

  • Lead and/or participate in the ongoing project of developing standardized accounting practices for member co-ops.
  • Assist in recommending member operating standards and publishing of preferred practices.
  • Responsible for the annual finance managers’ co-conference with IT called Co+nnect.
  • Organize meetings of co-op leaders to strategize means for continued improvement of financial health and performance of the food co-op sector.
  • Assist in interventions to help financially struggling co-ops, working with development managers and/or the NCG Development Cooperative.
  • Coordinate with finance services manager on accounting projects that may reduce the back-office expense of NCG’s members through centralized services.

General

  • Manage accounting staff, including interviewing, hiring and training employees; planning, assigning and directing work; appraising performance; rewarding and disciplining employees; addressing complaints and resolving problems.
  • Assist the CEO with Board of Directors’ reporting requirements.
  • Monitor the financial position of NCG members to assess risk of default.
  • Participate in each corridor’s risk management committee.
  • Approve staff payroll and backup for payroll processing.
  • Research, make recommendations for obtaining adequate insurance on all aspects of operations.
  • Oversee administration and reporting of NCG’s 401(k) retirement plan.
  • Ensure secure back-up for all NCG financial data.
  • Perform other tasks assigned by the CEO.

 DESIRED OUTCOMES

  • Transition team to St. Paul, Minnesota as appropriate.
  • Ensure financial systems effectively serve NCG’s current and future needs.
  • Strengthen cyber, treasury and insurance processes; e.g., become the expert on D&O insurance.

 

Ideal Experience

  • 10 years of experience in finance with progression, ideally in a food and/or retail business, but not required
  • Thorough knowledge of generally accepted accounting principles, federal and state tax laws and regulations, and required compliance report filings with states and agencies
  • Degree in accounting or financial management, CPA or MBA preferred
  • Experience with accounting software systems. Computer literacy, including proficiency with MS Office software.

 

Critical Leadership Capabilities

Driving Results

  • Solves problems while exhibiting sound judgment and a realistic understanding of issues; able to use reason, even when dealing with emotional topics; reviews facts and weighs options.
  • Brings about great results from ordinary circumstances; prepares for problems or opportunities in advance; transforms ideas into productive business outcomes; undertakes additional responsibilities; and responds to situations as they arise without supervision.
  • Possesses an ongoing “continuous improvement” approach, along with a proven track record in process/system improvement.
  • Translates operational performance into financial dialogue and ensures the company is on target to meet financial commitments.
  • Shows strong passion and sense of urgency for reaching targets.

 Strategic Thinking

  • Envisions and understands the "big picture," and adjusts plans as necessary with sensitivity to a changing marketplace.
  • Strong analytical and problem-solving skills with a style that promotes collaboration, discussion, intellectual curiosity and innovation. 
  • Remains open-minded and changes opinions on the basis of new information; performs a wide variety of tasks and changes focus quickly as demands change; manages transitions effectively from task to task; adapts to varying member needs.
  • Prepares for emerging member needs; manages multiple projects; determines project urgency in a meaningful and practical way; uses goals to guide actions and creates detailed action plans; organizes and schedules a wide variety of tasks.
  • Thinks two to three years ahead.

 Collaborating and Influencing

  • Spends time identifying all stakeholders necessary and meets or connects with all of them, neglecting no one to shape a collective consensus.
  • Shares due credit with co-workers; displays enthusiasm and promotes a friendly group working environment; works closely with other NCG staff as necessary; supports group decisions and solicits opinions from peers; displays team spirit.
  • Negotiates with a genuine give-and-take approach, where both parties act as true peers and decisions are shared.
  • Identifies opportunities to build relationships that will help others achieve their objectives and reaches out to those people or new people.
  • Clearly presents information through the spoken or written word; reads and interprets complex information; talks with members or vendors; listens well.

 

Other Personal Characteristics

  • Possesses a connection to the NCG mission and values.
  • Ability to manage multiple projects and coordinate with multiple stakeholders with minimal supervision.
  • Willingness and ability to learn and grow to meet the changing requirements of the job.
  • Respected for business ethics, integrity and common-sense approach.