Chief Financial Officer in Salisbury (m/f)
Trinity Sterile is one of the fastest growing Certified Minority Owned businesses serving the health care industry. Based in Salisbury, Maryland, we assemble and sterilize standard and custom procedure kits and trays as well as distribute a wide range of disposable and reusable products. We are ISO 13485-2003 certified and fully compliant with FDA cGMP requirements.
We are currently in search of a Chief Financial Officer to join the organization as a key member of our executive staff.
Reporting to the President, the CFO will have primary day-to-day responsibility for planning, implementing, managing and controlling all financial-related activities of the company. Leading the company with operations, strategic and financial analysis, the CFO will directly influence and participate in day-to-day operations, budgets, and long range planning.
The CFO position at Trinity Sterile is first and foremost a “hands on” position and with the proper background and experience, could be expanded to include operations management.
It is a hybrid position requiring the candidate not only to manage subordinates, but to also to perform many of the financial tasks in the department. The position requires an intellectual curiosity as to the inner workings of all processes in the company. The job requires superior computer and analytical skills, where the CFO will continually analyze, chart, graph and report-on problems and areas requiring improvement.
This position implements policies and procedures to identify, resolve and document company-wide issues in addition to creating procedures to make reporting processes more efficient and accurate. Additionally, the CFO is the primary data analyst for the company. The CFO is expected to go farther that just issuing timely reports. He/she is expected not just to identify problems but to solve them – even when they cross departmental lines. As the fiscal watchdog, the CFO seeks out mistakes, reduces waste, and helps increase efficiencies.
Essential Functions and Responsibilities
Primary responsibilities include the monthly close process, monthly, quarterly and annual financial statements, collection and accuracy of accounts receivable, supervising accounts payable, payroll, and annual preparation of budgets
Preparation of work papers supporting the annual tax return and annual financial statement audits
Manage preparation and support of all external audits. Serve as a key point of contact for external auditors.
Implement a process comparing costs incurred to budget and performance analysis.
Responsible for the analytical review of the monthly operating results to ensure accurate accounting records are maintained
Perform cash projections to effectively manage cash balances
Maintenance of fixed asset records
Implement, document and maintain adequate and effective processes to improve the close time and reporting cycles to ensure timely and accurate reporting
Monitor banking activities
Responsibility for the production of monthly reports including reconciliations as well as financial statements and cash flow projections for use by Executive management
Ensure that Accounts Payables and Accounts Receivables are managed to meet cash flow expectations, with ultimate responsibility for control
Oversee business insurance plans and health care coverage analysis.
Oversee cash flow planning and ensure availability of funds as needed.
Enhance and implement systems to ensure proper maintenance of all accounting systems, functions, controls and procedures.
Oversee weekly cash management; Approve weekly payables;
Ensure records systems are maintained in accordance with generally accepted auditing standards
Implement, document and maintain adequate and effective internal controls
Develop, manage, and train the Accounting Unit and other staff on raising awareness and knowledge of financial management matters.
Take ownership of all transactions that are handled within the accounting department. Expecting nothing less than complete accuracy.
Ensuring that department members and all managers know your expectations so they will meet them.
Any other responsibilities that may be assigned from time to time.
Planning and Analysis
Prepare and maintain regular financial planning reports; Monthly profit and loss forecast by division if appropriate and versus budget; quarterly cash flow forecast.
Complete analysis of financial results; Develop recommendations (strategic and tactical).
Develop and execute analysis of various business initiatives (e.g., opening new operations, asset acquisition, new service launches).
Assist in development of financial planning and analysis reports.
Execute and improve Dashboard tracking reports
Assist in development and control of Management goals and incentives
Develop and utilize forward-looking, predictive models and activity-based financial analyses to provide insight into the organization’s operations. Establish and implement “Best in Class benchmark study in productivity measurements for all labor and production related activities, to ensure proper goals are set to be successful
Champion process improvement efforts related to all processes.
Perform ad hoc analysis to enhance and/or develop, implement and enforce cost reduction initiatives and cash flow improvement ideas.
Alert sales, production, warehouse management and shareholders of issues that are identified through daily analysis and review.
Develop analyses and queries to monitor direct costs effecting selling prices. Notify Sales department of increasing costs and propose solutions.
Review inventory adjustments to identify trends.
Monitor inventory for variances, cost increases, discrepancies and turnover
Prepare and analyze a complete COG and production analysis quarterly
Develop and maintain a query for WIP so it can be calculated in the production analysis.
Develop tools to analyze transactions that have a negative impact on the bottom line (i.e. credit memos, returns, etc). Chart the transactions to identify problems, trends.
Target line items to drive down costs (i.e. telephone, office supplies, shipping, etc.) – and implement solutions Develop techniques to validate fees charged back to Trinity by their distributors (i.e. volume allowances, penalty fees, channel fees, etc.)
Analyze the sales, product, and Gross Margins identifying problems, variances and declining trends. Recommend and implement solutions.
Drive improvement in a core set of metrics – i.e. the “Dashboard”
Develop and manage exception reporting for all cost centers
Analysis and oversight of materials and purchasing processes from costing through vendor payment to insure accuracy and integrity.
Assess organizational financial and operations performance against both the annual budget and company’s long-term strategy.
Develop tools and systems to provide critical financial and operational information to the CEO and make actionable recommendations on both strategy and operations.
Serve as the leader in the management team
Participate in key decisions pertaining to strategic initiatives, operating model and operational execution
Work with the President on the strategic vision including fostering and cultivating stakeholder relationships
Assess the benefits of all prospective contracts and advise the Executive Team on programmatic design and implementation matters.
Assist in performing all tasks necessary to achieve the organization's mission and help execute staff succession and growth plans
Develop financial business plans and forecasts.
Participate in corporate policy development as a member of the senior management team.
Develop and assist the president with the implementation of strategic business and/or operational plans, projects, programs, and systems.
Establish and implement short- and long-range departmental goals, objectives, policies, and operating procedures.
Execute the goals of the ownership group
Interact with other managers to provide consultative support to planning initiatives through financial and management information analyses, reports, and recommendations. Provide leadership and coordination in the administrative, business planning, accounting and budgeting efforts of the company.
Trinity Sterile US