Chief Financial Officer

Steel Partners

About The Position

Steel Partners is a private company that engages in multiple businesses through consolidated subsidiaries, associated companies, and other interests. It owns and operates businesses and has significant interests in leading companies in various industries, including diversified industrial products, energy, defense, supply chain management and logistics, banking, and youth sports. Together, Steel Partners’ businesses generate over $2.0 billion in revenue and employ more than 5,000 people in multiple countries. JPS Composite Materials (JPS, www.jpscm.com) is a wholly owned operating company within the Steel Partners Diversified Industrial Segment. JPS is a manufacturer of high-performance fabrics servicing the aerospace, military, commercial, and industrial markets. The company’s materials are found in a multitude of composite matrix applications including commercial aircraft interiors, radomes for commercial and military aircraft, ballistic applications for military vests and vehicles as well as electronic applications including automobile sensors and telecommunication antenna. JPS has over 60 years of experience in our markets and is the primary supplier of these products in North America. The administrative headquarters is in Anderson, SC and manufacturing facilities are in North and South Carolina. THE REPORTING STRUCTURE: The CFO will report directly to Keith Bendyk, President of JPS, Direct reports include JPS Controller, IT Manager, & I-5 Systems Manager. PERFORMANCE PROFILE: The CFO is an integral part of the JPS’s senior management team, serving as a true business partner and financial counsel to the President involving strategic planning, policy development and implementation, compliance and reporting in support of corporate objectives. Specifically, the Director of Finance will proactively: • Provide accurate and timely submission of JPS financial reporting and forecasting to Steel Partners. • Lead the annual budget process • Provide insight into the business and sound financial analysis for senior management. • Identify new profit opportunities within the existing business. • Support expansion efforts in existing and new markets; this will come from a combination of organic growth and a robust acquisition strategy. • Maintain the financial integrity of the organization with Generally Accepted Accounting Principles (GAAP)and adequate financial controls that are established and maintained in accordance with SARBANES OXLEY and corporate guidance. • Help the management team drive the profitability of the business. • Drive improvements in efficiency and effectiveness through the development and utilization of system tools and the automation of processes. • Develop talent and processes within the JPS finance organization to meet the requirements of the business, changes in accounting standards and strong internal controls. • Provide overall strategic direction to the Accounting, Purchasing, IT and Transportation organizations, in conjunction with the respective area manager. The CFO holds full accountability for the integrity of JPS’s financial statements, accurately reporting financial and other information that forecasts the company’s business activity and financial position as required to meet business reporting and financial regulation needs internally and externally. The Director of Finance provides support to Steel Partners to ensure corporate financial policies, procedures and controls are in use and fully effective at the Company. In addition, the Director Finance effectively leads the Financial and Accounting, IT, Purchasing and Transportation functions. Lean expertise and experience with driving restructuring activities including cost structure analysis, optimization, and change management activities. PERFORMANCE OBJECTIVES ARE AS FOLLOWS: Business Partnership/ Strategic Planning • Support annual Strategy Deployment Process (SDP) and general business planning by recommending objectives that will result in financial growth and stability while identifying profit and growth opportunities. • Lead budget and forecasting process at both corporate and departmental levels. Support Sales & Operations Planning with accurate financial forecasting. • Advise on trends and regulations in the financial and general manufacturing industries to ensure effectiveness and compliance. • Participate with President in developing overall plans for the direction of the businesses by being a key leader in the SDP. Business Performance & Analysis • Drive the Steel Partners Business System throughout all areas of responsibility using the Steel Business System tools. • Develop and recommend cost containment strategies to improve profitability. • Maintain or implement improved internal reporting and information systems to provide best support to division management in making decisions about the business, including budgets, financial reporting, forecasting, and special analysis. • Provide strong analysis and communication to senior management on matters related to areas of responsibility. • Benchmark financial performance against plan and advise and implement effective strategies to effect change/resolve issues, as necessary. • Provide routine forecasting to identify and monitor key business drivers and variances - advising and implementing appropriate action when necessary. Finance Function Effectiveness • Develop and maintain accurate and effective financial statements. • Assure compliance with Steel financial policies, procedures, control requirements and reporting systems. • Ensure adequate financial controls and all Sarbanes Oxley-related processes are established and maintained. Maintain proper controls over assets including working capital, fixed assets, capital expenditure/justifications approvals, budgets, audits. • Coordinate and oversee internal and external audit procedures. • Provide efficient, effective basic accounting systems, including general ledger, cost accounting, credit and collection, and accounts payable, payroll. • Work with President, relevant operating managers, and SP financial, IT and/or general management to develop information, propose courses of action and implement reporting and control systems to help resolve operating problems. • Communicate business trends and material changes in financial performance to JPS and SP senior management on a timely basis. • Support SPLP IT initiatives to address opportunities to increase security and effectiveness of software and hardware. People & Organization • Provide transparency to financial performance and controls to Steel Services and SPH leadership. • Build a highly technical and efficient Finance organization, which may require the recruitment of new talent. • Develop team to meet changing JPS and corporate needs, ensuring timely performance reviews and retention and advancement of key staff. • Oversee the operations of the Accounting, IT, Purchasing and Transportation departments, including the design of an organizational structure adequate for achieving each department's goals and objectives. • Develop bench strength for key roles in each area of responsibility and build a high-performance team skilled in lean principles.

Requirements

A bachelor’s degree in finance or accounting is required; MBA preferred. CPA/CMA a plus but not required.
The successful candidate will have a total of 12+ years Finance/Leadership experience, including 3-5 years as the finance and IT leader for a stand-alone operating company or division in a public company.
The company/division should encompass multiple manufacturing locations (domestic, international would-be a plus); multi-site at the divisional/regional level would be a distinct advantage.
The candidate must have had prior P&L ownership and partnered with senior operations and/or other P&L leadership to drive superior financial performance in manufacturing/fabrication operations.
Must demonstrate a command of all aspects of the Finance function including financial accounting, cost accounting, contemporary financial planning & analysis tools/practices, and exceptional operational accounting/finance experience (lean accounting experience preferred).
The successful candidate will present superior collaboration and communication skills, conflict management capabilities, and strong executive presence/composure.
He/she will demonstrate a strong process orientation and a record of accomplishment of successfully improving the Financial function’s operations and efficiency.
Must be willing to travel as necessary (approximately 10%).
Tough-minded but welcome team member.
Must be a “hands on” leader who demonstrates a willingness to dig into the details as needed to determine root cause and countermeasures.
Possesses a high sense of urgency.
Driven by very high expectations and delivers results, not “activity.”
A balance of humility and high confidence.
Targets breakthrough performance, not simply incremental gain.
Thinks expansively and believes in achieving the heretofore unachievable.
Is highly autonomous and self-directed.
Is comfortable in a very direct and candid environment focused on results.
No surprises approach; transparency on financial issues.
Can accurately assess businesses from a “general manager’s” point of view and set priorities for improvement.
Has the ability to create followership.
Possess the technical skills necessary to resolve a broad array of business issues.
Demonstrates a passion for building a talented organization and specific record of accomplishment of recruiting and developing highly capable talent.
Manages people well; inspires others; builds motivated, high-performing teams; holds people accountable, and gives useful feedback
Delegates and develops; keeps people informed; provides coaching for today and for the future.
Equally effective communicating at all levels of the organization; communicates a compelling vision and is committed to what needs to be done.
Ability to provide leadership in the design, development, and execution of lean accounting processes in finance/accounting.
Effectively articulates issues and facilitates their resolution

Nice To Haves

CPA/CMA a plus but not required.
The company/division should encompass multiple manufacturing locations (domestic, international would-be a plus)

Responsibilities

Provide accurate and timely submission of JPS financial reporting and forecasting to Steel Partners.
Lead the annual budget process
Provide insight into the business and sound financial analysis for senior management.
Identify new profit opportunities within the existing business.
Support expansion efforts in existing and new markets; this will come from a combination of organic growth and a robust acquisition strategy.
Maintain the financial integrity of the organization with Generally Accepted Accounting Principles (GAAP)and adequate financial controls that are established and maintained in accordance with SARBANES OXLEY and corporate guidance.
Help the management team drive the profitability of the business.
Drive improvements in efficiency and effectiveness through the development and utilization of system tools and the automation of processes.
Develop talent and processes within the JPS finance organization to meet the requirements of the business, changes in accounting standards and strong internal controls.
Provide overall strategic direction to the Accounting, Purchasing, IT and Transportation organizations, in conjunction with the respective area manager.
Support annual Strategy Deployment Process (SDP) and general business planning by recommending objectives that will result in financial growth and stability while identifying profit and growth opportunities.
Lead budget and forecasting process at both corporate and departmental levels. Support Sales & Operations Planning with accurate financial forecasting.
Advise on trends and regulations in the financial and general manufacturing industries to ensure effectiveness and compliance.
Participate with President in developing overall plans for the direction of the businesses by being a key leader in the SDP.
Drive the Steel Partners Business System throughout all areas of responsibility using the Steel Business System tools.
Develop and recommend cost containment strategies to improve profitability.
Maintain or implement improved internal reporting and information systems to provide best support to division management in making decisions about the business, including budgets, financial reporting, forecasting, and special analysis.
Provide strong analysis and communication to senior management on matters related to areas of responsibility.
Benchmark financial performance against plan and advise and implement effective strategies to effect change/resolve issues, as necessary.
Provide routine forecasting to identify and monitor key business drivers and variances - advising and implementing appropriate action when necessary.
Develop and maintain accurate and effective financial statements.
Assure compliance with Steel financial policies, procedures, control requirements and reporting systems.
Ensure adequate financial controls and all Sarbanes Oxley-related processes are established and maintained. Maintain proper controls over assets including working capital, fixed assets, capital expenditure/justifications approvals, budgets, audits.
Coordinate and oversee internal and external audit procedures.
Provide efficient, effective basic accounting systems, including general ledger, cost accounting, credit and collection, and accounts payable, payroll.
Work with President, relevant operating managers, and SP financial, IT and/or general management to develop information, propose courses of action and implement reporting and control systems to help resolve operating problems.
Communicate business trends and material changes in financial performance to JPS and SP senior management on a timely basis.
Support SPLP IT initiatives to address opportunities to increase security and effectiveness of software and hardware.
Provide transparency to financial performance and controls to Steel Services and SPH leadership.
Build a highly technical and efficient Finance organization, which may require the recruitment of new talent.
Develop team to meet changing JPS and corporate needs, ensuring timely performance reviews and retention and advancement of key staff.
Oversee the operations of the Accounting, IT, Purchasing and Transportation departments, including the design of an organizational structure adequate for achieving each department's goals and objectives.
Develop bench strength for key roles in each area of responsibility and build a high-performance team skilled in lean principles.