Director/VP of Finance & Administration

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Okay Industries – Director, VP of Finance & Administration

My client, Okay Industries, headquartered in New Britain, CT, is seeking a VP, Finance & Administration with outstanding financial credentials and a keen operations focus – someone who has worked for a company with revenues of $50M to $250M. This individual will have made significant margin improvement in profitability – in driving cost out of a business; their business acumen reflects a deep and broad understanding of financial analysis and strategy; and they have conceived of and successfully implemented talent management initiatives. Experience/active participation in Mergers & Acquisitions (analysis, due diligence and integration) would be a plus.

This position is a key strategic hire my client will be making in 2016 to achieve their goals for growth. Candidates requiring relocation assistance will be considered. A key member of the Management team, reporting to the President, this individual will assume a crucial role in the company’s overall management. Critical to this position – first and foremost: Do you have -

Experience currently or most recently working for a contract manufacturer that produces highly engineered components that function in critical applications and sells to OEMs?
An appreciation for and experience in manufacturing from ground floor to board room?
A passion for and history of improving gross margins significantly year over year?
A profound understanding of numbers (the cost structure), which goes to root cause analysis and ensures that strategic plans work?
The ability to immerse yourself in a company’s culture and resources – learning what you need to know about people, processes/procedures, and parts?
An appreciation and respect for others’ contributions – acknowledging them accordingly?

If you answered “yes” to all of the above – we would love to hear from you.

Company

In business for over 100 years, Okay Industries operates three engineering and manufacturing centers. They engineer and manufacture components and subassemblies in medical, automotive, defense/firearms and industrial markets. A market leader in metal stamping CNC machining, laser welding, automated assembly, design engineering and supply-chain management, they are a go-to supplier for OEMs.

Responsibilities

This position will have primary day-to-day responsibility for planning, implementing, managing and controlling all financial-related, Human Resources, Legal and IT activities of the company for both CT facilities and the Costa Rica operation. Specifically, they will:

Lead by example and live Okay’s Vision, Mission, Values and Strategy.
Understand, develop and lead financial strategy for Okay – Capital utilization, cash flow, cost containment, ROIC, gross margin improvement, etc. Maintain outstanding banking relationships and strategic alliances with vendors and business partners, i.e., benefits strategy including: medical benefits, profit sharing, and 401(k).
Monitor financial performance by measuring and analyzing results/variances (productivity, quality, and customer service); initiating corrective actions; minimizing the impact of variances.
Provide leadership as it applies to aligning financial and business strategies, including: acquisitions, capital expenditures and financial policies to enhance business performance.
Work with the Human Resources Manager (Direct Report) to lead the Human Capital initiative to execute the company strategy – contributing to the planning, directing and coordinating of all Human Resource activities of the organization. Accomplish Human Resource strategies by: determining accountabilities; communicating and enforcing values, policies, and procedures.
Lead efforts with all legal and regulatory responsibilities, including contracts, NDAs, patents, and FFL license, etc. Ensure that effective internal controls are in place and ensure compliance with applicable federal, state and local regulatory laws and rules.
Lead efforts with IT, as well as ERP/MRP ownership for administrative functions and to support operations.
Balance risk with prudent safeguards for the company.

Technical Requirements

The right candidate will have a BS (preferably in Accounting or Finance; other majors will be considered); MBA and/or CPA highly desirable. Must have experience in contract manufacturing: ideally, 15+ years in progressively responsible financial leadership roles in the manufacturing industry in contract manufacturing (preferably metals-focused contract manufacturing). “Hands On” ERP Systems experience and exposure working with external IT vendor(s). Ability to learn and lead HR/Benefits administration.

Business Qualifications

Demonstrated leadership ability, confidence and executive presence – able to motivate staff.
Critical thinking, analysis and presentation of data, strategic agility, dealing with ambiguity, and a global financial perspective.
Outstanding communication (oral and written) and presentation skills.
Excellent analytical, reasoning and problem solving skills.
Good negotiation skills and customer relationship skills.
Significant experience working with banks/financial institutions, external auditors, internal controls and compliance related issues.

Personal Attributes

Integrity and Ethical Standards. A strong will which ensures that one is always doing the right thing by upholding the ethical and professional standards and is honest in all transactions with the company and the stakeholders.
Customer Focused. Resourceful in finding ways to help customers solve their problems by understanding their needs and challenges.
Big picture/strategic thinker. Has vision, but also hands-on and knows the details to implement business plans for the company and that aligns with the “big picture”.
Leadership. Will delegate and oversee the financial and administrative operations of the company effectively. Has emotional intelligence; self-awareness, motivation, empathy and social skills.
Strong interpersonal and teamwork skills – able to communicate and manage well at all organizational levels.
Thoroughly understands the operations of a business. Knows why the numbers are what they are, and develops strategies/solutions to address/improve working with others (rather than just reporting the numbers). Comfortable and wants to be out on the floor, asks probing questions to understand why.
Strong problem-solving and creative skills and the ability to exercise sound judgment and make decisions based on accurate and timely analyses.
Comfortable being the bad cop when needed.
Perspective on Risk. Balances business complexity, while minimizing risk as the business executes its initiatives and strategies
Results-Oriented Nature able to achieve goals that are specific and measurable. Strong sense of urgency.

Expectation after 6-12 months

Respected member of the team, internally and externally (customers, suppliers, banks, auditors/ lawyers) based on intelligence, initiative, personality, and actions.
- Solid mutually beneficial contracts in place with customers
- Viewed as “Go-To” person for business/financial issues both internally/externally
Thoroughly understands the business, what makes OKAY “tick”;knows why the numbers are what they are, and develops strategies/solutions to address/improve working with others (rather than just reporting the numbers) to improve results:
- 5% improvement to Gross Margin
Working with HR Manager, successfully develops and implements Human Capital strategy (documented).
Program in place to improve costing process and plans to measure and improve progress:
- Monthly Expenses
- Perishable tooling
- Monthly job costing reviews + New Job profitability
Implements financial reporting improvements that are accepted by all.

Resumes should be emailed to: karlahammond@sbcglobal.ne; 860-267-2690