Featured Opportunity

CFO Opportunity Western United States Specialty Contractor

The Opportunity:

Opportunity for a strategic finance executive to join a unique and innovative construction services company as their Chief Financial Officer. The company is financially strong, experiencing profitable and consistent growth and operates primarily in the San Francisco Bay market.

The Company:

Our client is a full-service mechanical contractor based in the San Francisco Bay area. They pride themselves as an industry leader on the cutting edge of mechanical systems design and operation. Their core values start with innovation, constantly moving forward in their thinking, people, and processes. Grounded in care they put people first in all instances and thrive on relationships. They value their employees and treat their customers as they would like to be treated. The company has built their business upon a foundation of practical knowledge (we’ve been there) and purposeful performance (we can do that) They work collaboratively with internal and external partners to find the best possible solutions to every challenge. The firm is owned under an S Corp partnership with 7 full partners.

The company is poised for growth with assets that include:

  • A 60 plus year history in the bay area.
  • A strong balance sheet.
  • An exceptionally diverse and skilled in-house and field workforce.
  • State of the Art facilities and technology.
  • Repeat customer base.
  • A region that is economically robust with life sciences,

Reason for the opening:

Retirement of the current CFO. The current CFO joined the company as their first CFO roughly 20 years ago and has been instrumental in helping the company grow from an annual volume of approximately $40M to their current annual revenue of over $100M. The current CFO will remain on board throughout 2022 to assist with the transition. The current CEO has been with the company for her entire career and is in the process of grooming her successor who assumed the leadership role of President in 2020. She will work until the end of 2022 to help with that process.

Reporting Relationships:

Title:Chief Financial Officer
Reports to:President
Reports:Controller, IT Manager, Human Resources Manager
Location:Corporate Office is in Menlo Park CA. There is a strong possibility the company will move it’s offices somewhere along the
Hayward-Fremont corridor the end of 2022.

The Role:

The CFO partners with the CEO and has overall accountability for the financial performance for the company. Success in bottom line profit and loss is evaluated from both revenue growth and cost containment perspectives, resulting in sustainable, positive cash flow.

From a solid financial and operational foundation that already exists, the CFO provides overall direction for financial and administrative services to operating divisions of the company. Oversight and leadership of continuous improvement in the various functions and work groups that provide common, platform services are viewed as essential for continued growth of the enterprise.

The CFO will play a key role in identifying and implementing best practices in the areas of human resources, information technology, asset management, and other supportive fields. The individual that holds this position actively participates as a member of the Executive Team, providing input, counsel and often direction on tactical and strategic issues.

This leader is expected to reinforce the company’s corporate culture through daily behaviors consistent with its purpose and values. The preferred management style is one of nurturing an environment of collaboration (with existing senior leaders, other departments, etc.), creating alignment of interests, goals, and accountability.

Candidate Profile:

A strategic forward thinking financial executive with 15 years plus years of progressive financial leadership experience with a building-oriented firm or a public accounting firm with construction clients. A problem solving humble, well-grounded individual who fosters communication, is open to new ideas and always questions why and is there a better way will fit into the company’s culture.   An undergraduate degree complimented with an MBA is desired. Proven experience in cash-flow management and optimization. Thorough understanding of financial controls. Advanced experience developing and driving business planning processes along with knowledge of business performance measures. Legal and risk/insurance experience along with banking and surety experience are necessary.  The CFO must be a transparent developer of talent with a high E-Q and experience leading a diverse team that includes all areas of finance as well as IT and HR.

CFO Duties and Responsibilities:

Essential Functions:

  • Performs all duties within the framework of company’s Core Values.
    Reports to the President and the Executive Leadership Team regularly on the financial performance and key financial issues.
  • Maintains strong banking, insurance, and bonding relationships.
  • Negotiate and ensure that all banking loan and bonding covenants are met.
  • Develops finance organizational strategies by contributing financial and accounting information, analysis and recommendations to strategic thinking and direction – establishing functional objectives in line with organizational objectives.
  • Monitors financial performance by measuring and analyzing results – initiating corrective actions – minimizing the impact of variances.
  • Develops and leads predictive systems and analysis strategy from a Divisional and Company-wide perspective.
  • Maximizes return on investments.
  • Being proactive in providing financial decision support on the overall P&L.
  • Ensuring all company assets are monitored and accurately accounted for.
  • Participates in final approval of capital expenditures in accordance with company operating budgets.
  • Ensuring that all pertinent information and recommendations (written & oral) are conveyed to members of the executive committee.
  • Oversee the accurate and timely preparation of the reports and payments required by regulatory agencies, unions, insurance companies and management.
  • Oversee the Information Technology operations of the company.
  • Partner with HR Director to negotiate annual renewals of employee benefit insurance programs and to ensure that these programs are in line with Company financial goals.
  • Partner with HR Director and President to create and review Company compensation and benefit plans.
  • Responsible for the corporate insurance program that protects against or minimizes losses to the company. Purchase insurance programs, manage claims, and relationships with brokers. Prepare loss analysis, identify exposures, recommend solutions, and ensue implementation of approved programs.
  • Prepare budgets by establishing schedules, collect analyze and consolidate financial data and recommend plans. Responsible for direct and indirect budgets and analyzing variances to plans and initiate corrective actions. Work with department heads to prepare and finalize budgets on a timely basis.
  • Work with outside CPA to complete year end field work to file annual tax returns on time.
  • Responsible to administer computerized accounting software and troubleshoot system data discrepancies. Establish and maintain systems and controls, which verify the integrity of all systems, processes, and data.
  • Responsible to lead and manage the accounting operations, including payroll, accounts payable and receivable, general ledger, job cost and cash management.
  • Provide executive direction and leadership for the financial operations of company to meet or exceed company standards. Comply with federal, state, and local legal requirements by understanding existing and new legislation and anticipating future legislation.
  • Oversee and assist Accounting Manager with legal issues including lawsuits, leases, and contracts.
  • Responsible for executive oversight of the Accounting Department to ensure financial integrity and application of proper internal controls and that the Accounting Department works effectively with the other departments within the Company.
  • Develop and maintain effective working relationships and understanding with operation departments of company (Construction, Sales, Service) to sustain financial side of business.
  • Work collaboratively with Operations and Service to improve productivities and maximize profitability of all work.
  • Work with Construction operations and Project Managers on WIP (Work in Process) on a monthly basis.
  • Motivates and inspires work ethic with all departments responsible to lead.
  • Maintains a high level of integrity – strong sense of confidentiality and professionalism.
  • Training of company Controller in CFO duties
  • Participation with nationwide PEER group including reporting, meeting with other company CFOs, and attend PEER reviews to provide recommendations to other firms to improve their company.

Initial initiatives:

The new CFO will join the company amid a time of transition and growth.

*Develop a strong working relationship with the Partners.
*Assess and possibly restructure current partnership agreement
*Adopt the company culture.
*Evaluate current financial, IT and HR staff members and initiate appropriate actions to strengthen groups.
*Evaluate current Controller and provide plan to increase controller’s capability to help manage accounting team, provide timely and accurate financial reports (Cash Flow, monthly division P&L statements, A/R reports, etc.)
*Work with the executive leadership team and specifically the new president to develop a strategic plan for profitable growth.

Compensation and Relocation:

Attractive base salary commensurate with Bay Area cost of living and caliber of the candidate we are seeking, bonus potential based on profitability, company health insurance, 401k, profit sharing, company car, association memberships and full relocation and temporary housing allowance if necessary.

For immediate consideration or to confidentially recommend someone please contact:

Jerry Adams
Adams Partners