The Sterling Group, L.P.
Financial Operations Director – TSG
The Sterling Group, L.P., Houston, Texas, United States, 77246
Career Opportunities with Sterling GroupCurrent job opportunities are posted here as they become available.The Sterling Group is an operationally focused middle market private equity firm focused on the industrial sector. Founded in 1982, Sterling is one of the longest standing private equity firms in North America with over $4 billion in assets under management. Sterling’s returns to investors have consistently ranked the firm in the top quartile of private equity firms.MISSION STATEMENTThe Financial Operating Partner will serve as a trusted advisor, technical expert, and execution facilitator to our deal teams and portfolio company executive teams. The purpose of the role is to evaluate and support the financial operations at our portfolio companies by helping them build their finance team, enhance financial systems and processes, and develop analytics capabilities to match with the overall value creation strategy of the investment.AREAS OF IMPACTThe role will be focused in the following areas:New Deal Evaluation (~20% of time)
- supporting Sterling deal team in evaluating the finance and accounting organization of target investments during due diligence
Evaluate the following in the context of private equity ownership and Sterling’s investment strategy:
Capabilities of the existing senior finance and accounting teamCapabilities and capacity of the existing finance and accounting organizationFinancial reporting systems and processesInternal control environmentRelated functions such as tax, treasury, risk management, FP&A, etc.
Portfolio wide programs (~10% of time)
– Developing and continuously improving the financial standard for Sterling portfolio companies
Maintaining best practice standards in the following areas:
Financial reportingInternal controlsRisk managementTreasury/cash managementBudgeting/FP&ATaxFinancial integration of acquired entitiesWorking capital management
Specific portfolio company value creation and support (~70% of time)
– supporting executive teams and Sterling deal team in advancing the financial function effectiveness of portfolio companies
Work with Sterling CFO to enhance and implement Sterling’s CFO onboarding processAssist the deal team in assessing current finance and accounting team at each portfolio company, and as necessary support the topgrading/buildout of the team required to execute Sterling’s value creation strategy.Ensure GAAP compliant, accurate and timely financial reporting to meet requirements of all stakeholders
Monthly financials for management, lenders, and SterlingAnnual audit
Support portfolio company management teams and Sterling deal teams to identify financial process improvement opportunities and risks, and the best routes to the realization of opportunities and mitigation of risks; includes assessing, initiating, and helping plan, monitor and execute improvement initiatives (e.g., working capital management)Support portfolio company management in developing and implementing the best internal operational reporting metrics to assist in maximizing operating results
Daily/weekly/monthly dashboardsMonthly operating review and board meeting decksBudgeting and forecasting
Manage any 3rd party relationships related to financial functional support at portfolio companiesDevelop network of talented potential financial executives for future portfolio company executive rolesSupport (and potentially work closely with Sterling Technology resource to drive) ERP and BI implementation and make recommendationsServe as an audit committee expert to portfolio companiesAct as interim CFO when required
ENGAGEMENT MODEL, INFLUENCE AND IMPACT:Bias to get out in the field with management teams to build relationships, monitor and adviseAbility to influence the executive teams to drive the desired business outcomes under the Financial functionPROFESSIONAL CHARACTERISTICS:15+ years of increasingly senior finance leadership, with direct experience as the standalone CFO, or extensive exposure to advising on and/or implementing financial operations assessment and improvementsStrong preference for significant experience working with private equity owned companiesFounder-owned, small/medium business M&A (roll-up) experience is strongly preferredBackground in public accounting, Big 4 preferredA firm executive presence with the ability to influence and work effectively with all types of employees and senior company executives, as well as the company’s capital partners and its Board membersA career history which displays an increasing level of responsibility within roles, including operational knowledge and involvementExperience working in a “performance based” and fast-paced environmentExperience working with industrial firms (i.e., manufacturing, distribution, industrial services)Prior experience as financial operating partner in a private equity firm a plus, but not requiredPreference for Houston based candidatesCOMPETENCIES:High emotional intelligence and strong interpersonal and communication skills; able to effectively engage and influence portfolio company teamsBusiness insight, judgement based on experience and technical understandingEnsures accountability and drives for resultsStrong problem-solving skills, able to be a thought leader across multiple leversExcites and inspires peak performance from those with whom he/she is engagedCombination of entrepreneurial spirit and corporate sophisticationPossesses a mind-set for continuous improvementActive ‘change-agent’; execution focused
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- supporting Sterling deal team in evaluating the finance and accounting organization of target investments during due diligence
Evaluate the following in the context of private equity ownership and Sterling’s investment strategy:
Capabilities of the existing senior finance and accounting teamCapabilities and capacity of the existing finance and accounting organizationFinancial reporting systems and processesInternal control environmentRelated functions such as tax, treasury, risk management, FP&A, etc.
Portfolio wide programs (~10% of time)
– Developing and continuously improving the financial standard for Sterling portfolio companies
Maintaining best practice standards in the following areas:
Financial reportingInternal controlsRisk managementTreasury/cash managementBudgeting/FP&ATaxFinancial integration of acquired entitiesWorking capital management
Specific portfolio company value creation and support (~70% of time)
– supporting executive teams and Sterling deal team in advancing the financial function effectiveness of portfolio companies
Work with Sterling CFO to enhance and implement Sterling’s CFO onboarding processAssist the deal team in assessing current finance and accounting team at each portfolio company, and as necessary support the topgrading/buildout of the team required to execute Sterling’s value creation strategy.Ensure GAAP compliant, accurate and timely financial reporting to meet requirements of all stakeholders
Monthly financials for management, lenders, and SterlingAnnual audit
Support portfolio company management teams and Sterling deal teams to identify financial process improvement opportunities and risks, and the best routes to the realization of opportunities and mitigation of risks; includes assessing, initiating, and helping plan, monitor and execute improvement initiatives (e.g., working capital management)Support portfolio company management in developing and implementing the best internal operational reporting metrics to assist in maximizing operating results
Daily/weekly/monthly dashboardsMonthly operating review and board meeting decksBudgeting and forecasting
Manage any 3rd party relationships related to financial functional support at portfolio companiesDevelop network of talented potential financial executives for future portfolio company executive rolesSupport (and potentially work closely with Sterling Technology resource to drive) ERP and BI implementation and make recommendationsServe as an audit committee expert to portfolio companiesAct as interim CFO when required
ENGAGEMENT MODEL, INFLUENCE AND IMPACT:Bias to get out in the field with management teams to build relationships, monitor and adviseAbility to influence the executive teams to drive the desired business outcomes under the Financial functionPROFESSIONAL CHARACTERISTICS:15+ years of increasingly senior finance leadership, with direct experience as the standalone CFO, or extensive exposure to advising on and/or implementing financial operations assessment and improvementsStrong preference for significant experience working with private equity owned companiesFounder-owned, small/medium business M&A (roll-up) experience is strongly preferredBackground in public accounting, Big 4 preferredA firm executive presence with the ability to influence and work effectively with all types of employees and senior company executives, as well as the company’s capital partners and its Board membersA career history which displays an increasing level of responsibility within roles, including operational knowledge and involvementExperience working in a “performance based” and fast-paced environmentExperience working with industrial firms (i.e., manufacturing, distribution, industrial services)Prior experience as financial operating partner in a private equity firm a plus, but not requiredPreference for Houston based candidatesCOMPETENCIES:High emotional intelligence and strong interpersonal and communication skills; able to effectively engage and influence portfolio company teamsBusiness insight, judgement based on experience and technical understandingEnsures accountability and drives for resultsStrong problem-solving skills, able to be a thought leader across multiple leversExcites and inspires peak performance from those with whom he/she is engagedCombination of entrepreneurial spirit and corporate sophisticationPossesses a mind-set for continuous improvementActive ‘change-agent’; execution focused
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