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Director of Finance

ROLE TITLE: Director of Finance

CENTER: Lloyd Leadership Team  

REPORTS TO: Chief Executive Officer

 

Role Description:

 

The Director of Finance manages all financial and fiscal aspects of the firm’s operations, and provides leadership and coordination in the administrative, business planning, finance and budgeting efforts of the company.

 

They are responsible for directing the organization's overall financial policies by overseeing financial functions including the following areas: Accounting, Forecasting & Budgeting, Internal & External Financial Reporting, Analysis, Tax, Audit, and Treasury. In addition, they manage administrative functions including Payroll and Information Technology. The Director of Finance also assists in the development of strategic initiatives and develop policies and procedures for these initiatives success.
 

Within Lloyd, the Director of Finance assists in presenting solutions and services to large or high-profile clients, and meets with the company's most valuable clients and partners to gain feedback and help grow relationships. Lloyd’s Director of Finance also participates in business association meetings to create a network of contacts and promote a positive image of the firm in the community, or to raise funds or solicit investment from outside investors.

Finally, the Director of Finance makes sure that their team and the Lloyd Leadership Team (LLT) are informed about key initiatives and have the information they need to perform their roles.

 

Primary Responsibilities:

 

Financial accounting and reporting

 

  • Develop and maintain timely and accurate financial statements and reports that are appropriate for the users and in accordance with generally accepted accounting principles (GAAP)
  • Develop, implement, and ensure compliance with internal financial and accounting policies and procedures
  • Ensure that all statutory requirements of the organization are met including filing of federal and state income tax returns, state sales and use tax, and employment tax.
  • Prepare all supporting information for the annual audit and liaise the external auditors for the completion of the audits
  • Develop and maintain financial accounting systems such as cash management, accounts payable, accounts receivable, credit control, and petty cash
  • Complete analysis of periodic financial results; Develop recommendations both strategic and tactical
  • Manage the cash flow and prepare cash flow forecasts
  • Oversee the accounting function including maintenance of the general ledger, accounts payable, accounts receivable and bank transactions
  • Monitor costs and work actively to reduce costs where appropriate
  • Develop and implement policies and procedures to ensure that personnel and financial information is secure and stored incompliance with current legislation
  • Manage the acquisition of capital assets and ensure that assets are properly recorded, amortized, and disposed of as appropriate
  • Prepare and present financial reports as required by the Board of Directors
  • Maximize income where possible and appropriate
  • Monitor compliance with debt covenants
  • Work with other centers as needed to assist in development of tools for improvement of operational efficiency and financial health.
  • Assist in the evaluation of M&A opportunities and ensure the successful integration of acquisitions from an accounting, finance, and regulatory perspective.
  • Participate in corporate policy development as a member of the senior management team.
  • Responsible for managing and ensuring compliance with corporate governance policies.
  • Accountable for the completion, execution, storage and retention of all corporate agreements and documents.
     

Payroll preparation and administration

  • Oversee all payroll functions to ensure that employees are paid in a timely and accurate manner
  • Negotiate and manage the employee insurance and benefits plans
  • Process and submit statutory and benefits remittances on time
  • Monitor and ensure compliance of payroll processing
  • Ensure timely and accurate issuances of W2s and 1099s
     

Budget preparation

  • Establish guidelines for budget and forecast preparation, and prepare the annual budget
  • Assist and educate other centers in the preparation of their respective budgets
  • Report periodically and regularly on budget to actual variances
     

Information technology

  • Evaluate the need for new technology to meet the organization's financial data processing, control, and reporting requirements
  • Review and monitor technology to ensure that financial information of the company, employees, and clients is secure
  • Analyze and improve business process workflow and reporting
     

 

Risk management

  • Monitor risk management policies and procedures to ensure that program and organizational risks are minimized
  • Advise the organization's leadership on appropriate insurance coverage for the organization and the Board of Directors
  • Negotiate with Bank for lines of credit or other financial services as required and appropriate
     

Office administration

  • Assist in the management of all leases, contracts and other financial commitments
  • Monitor all legislation relevant to the organization (employment standards, occupation health and safety, etc) to ensure that the organization is compliant
     

Leadership

  • Supervise, mentor,  and develop the finance center team members
  • Behave ethically
  • Maintain CPA designation by completing required CPE credit
  • Remain current in accounting and regulatory changes and communicate current changes to management
  • Participate in networking events
  • Serves as a role model for Lloyd’s vision and values.

 

Develop Strategy and Vision

  • Participates in the Lloyd Leadership Team’s planning activities.
  • Creates and leads the Finance Centers Strategy and Vision in support of Lloyd Group objectives.
     

Creates a Great Place to Work

  • Builds Culture
  • Sets the tone for behaviors within the Finance Center while contributing to the overall culture of Lloyd.
     

Builds and Develops Team Members

  • The Director of Finance hires, fires and leads the Finance Center.
  • The Director of Finance is responsible for developing the skills of members of the Finance Center.
  • The Director of Finance is accountable for the financial development of other members of the Lloyd Leadership Team and Lloydian population.

 

Reporting & Measurement
 

  • Presents the auditors statements to the Chief Executive Officer
  • Updates the Lloyd Leadership Team on the firms performance against financial objectives
  • Reports to the various Directors and Centers on their financial performance against objective

 

Create, coordinate, and evaluate the financial programs and supporting information systems of the company to include budgeting, tax planning, real estate, and conservation of assets.

Approve and coordinate changes and improvements in automated financial and management information systems for the firm.

Ensure compliance with local, state, and federal reporting requirements.

Oversee the approval and processing of revenue, expenditure, and position control documents, department budgets, mass salary updates, ledger, and account maintenance and data entry.

Coordinate the preparation of financial statements, financial reports, special analyses, and information reports.

Develop and implement finance, accounting, billing, and auditing procedures.

Establish and maintain appropriate internal control safeguards.

Interact with other managers to provide consultative support to planning initiatives through financial and management information analyses, reports, and recommendations.

Ensure records systems are maintained in accordance with generally accepted auditing standards.

Develop and direct the implementation of strategic business and/or operational plans, projects, programs, and systems.

Assist in obtaining the necessary licenses and insurance required to manage ongoing business operations.

Analyze cash flow, cost controls, and expenses to guide business decisions. Analyze financial statements to pinpoint potential concerns.

Establish and implement short- and long-range goals, objectives, policies, and operating procedures for the Finance and other Centers within the firm.

Serve on planning and policy-making teams within the firm.

Engage proactively with external constituents including accountants, bankers, and attorneys.

Ensure compliance with federal, state and local government corporate governance requirements.

Ensure that all corporate agreements and contracts are properly executed and filed.

Other duties as assigned.

 

 

Additional Responsibilities:
 

Act as a Lloydian cultural ambassador, representing and exemplifying the firm’s core values and behavioral norms at all time.

Grooms and develops potential successors from within and outside the organization.

Initiate and facilitate the development of a Finance Center capable of efficiently and effectively supporting the firm’s current fiscal management needs while accommodating plans for growth.
 

 

Knowledge and Skill Requirements:
 

Experience in strategic planning and execution. Knowledge of contracting, negotiating, and change management. Knowledge of finance, accounting, budgeting, and cost control principles including Generally Accepted Accounting Principles. Knowledge of automated financial and accounting reporting systems. Knowledge of federal and state financial regulations. Ability to analyze financial data and prepare financial reports, statements, and projections.

Requires professional written and verbal communication and interpersonal skills. Ability to motivate teams to produce quality materials within tight timeframes and simultaneously manage several projects. Ability to participate in and facilitate group meetings.

A willingness to work a flexible schedule.

 

Working Conditions:
 

Working conditions are normal for an office environment. Work may require occasional weekend and/or evening work.

 

Compensation:
 

Base Compensation: $120,000 - $150,000

 

Meetings:
 

  • Weekly Lloyd Leadership Team Meetings
  • Coaching & Development with external consultants
  • 1-1’s with Direct Reports
  • 1-1’s with CEO
  • Various Conferences
  • Additional Meetings may be required

 

Travel:
 

Travel to various offices and off-sites.

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