VP Finance

Job Summary:

The Vice President of Finance (VPF) is a key leadership role responsible for driving Client's financial growth and long-term success through strategic financial leadership, effective management, and informed financial decision-making. This role will significantly shape the organization's financial strategy, foster innovation, and promote sustained financial health. The VPF reports directly to the Chief Executive Officer (CEO) and Chief Operating Officer (COO).

Essential Functions (90%):

• Oversee the Finance department, ensuring delivery of financial and accounting outputs aligned with Client's strategic goals.
• Develop and implement the Finance team's strategic vision in alignment with organizational objectives, identifying innovative solutions to enhance financial operations and services.
• Ensure business continuity requirements are consistently met within Finance operations.
• Prepare and deliver timely, accurate financial reports, including monthly, quarterly, and annual statements, to senior leadership.

Financial Strategy and Planning:

• Formulate and execute financial strategies to support overall business goals and growth initiatives.
• Provide actionable financial insights and strategic recommendations to the COO and executive team to enhance profitability and business growth.
• Lead financial planning, budgeting, and forecasting processes with precision, aligning with strategic business goals.
• Conduct financial analyses on campaigns and initiatives to ensure alignment with company objectives.
• Review key financial metrics with stakeholders, assess risks, monitor deliverables, and implement strategies to improve profitability and financial health.

Financial Management:

• Supervise all financial activities, including accounting, budgeting, treasury, tax compliance, and payroll functions.
• Monitor and analyze the company's financial performance, identifying improvement opportunities and executing corrective measures.
• Maintain robust internal controls and ensure compliance with accounting standards and regulatory requirements.
• Manage daily and monthly settlement activities with the company's sponsoring banks for various fintech products, such as acquiring and Automated Clearing House (ACH) services.
• Negotiate and review vendor contracts as needed.
• Oversee residuals and commission payments to company resellers, sales partners, and referral agents.
• Coordinate with external accountants for timely completion of the Company's annual review.
• Audit monthly financial reports from processors to verify income and expenses.
• Collaborate with collections, legal, and risk teams to mitigate merchant-related losses.

Risk Management:

• Assess and mitigate financial risks, including market, liquidity, and operational risks.
• Develop and implement risk mitigation strategies and contingency plans to maintain financial stability.
• Stay abreast of industry trends, regulatory changes, and best practices to proactively manage risks.

Financial Reporting:

• Ensure accurate and timely filing of all relevant local, state, and federal regulatory reports.
• Oversee month-end and annual financial reporting processes for the Board.
• Prepare and update monthly financial forecasts and monitor key performance indicators (KPIs) to achieve targets.
• Provide regular reporting on portfolio losses and conduct portfolio analyses to ensure accurate merchant and agent billing.
• Support specialized projects as assigned by the leadership team.
• Develop financial models and conduct ad hoc analyses as required.

Non-Essential Functions (20%):

• Lead, mentor, and develop the finance and accounting team, fostering a culture of collaboration, excellence, and continuous improvement.
• Conduct regular performance evaluations, set clear objectives, and offer professional development opportunities.
• Promote ethical conduct and compliance within the finance function and the broader organization.
• Support department-specific and company-wide initiatives as directed by leadership.

Education and Experience:

Required:

• Bachelor's degree in Finance, Accounting, or a related field.
• Experience as a Controller, CFO, or similar role, preferably within a financial services firm in the Fintech sector with at least 100 employees.
• Proven track record of managing accounting and collections departments in a growth-oriented environment.
• Demonstrated expertise in financial planning, budgeting, and forecasting.

Preferred:

• Master's degree in Finance or CPA certification.

Skills and Abilities:

• Deep knowledge of financial management, accounting principles, and financial analysis.
• Strong understanding of regulatory and compliance requirements in financial services.
• Proven ability to connect business strategies with financial drivers and initiatives.
• Excellent leadership, communication, and cross-functional collaboration skills.
• Proficiency in project and task management with a focus on prioritization.
• Strong analytical, strategic thinking, and problem-solving skills.
• Ability to operate in a fast-paced environment with changing priorities.
• Advanced proficiency in Microsoft Excel and general aptitude with MS Office Suite.
• Quick adaptability to company-specific systems and general technological proficiency.
• Familiarity with state and federal financial regulations, including those specific to California.
• Understanding of point-of-sale systems and related peripherals.
• Ability to identify and manage risks associated with various verticals.
• Effective written and verbal communication skills to engage with team members and leadership.
• Demonstrated leadership ability to guide and motivate teams to achieve objectives.
• Attention to accuracy and thorough preparation for meetings and presentations.
• Proactive follow-up to ensure completion of commitments and deliverables.
• Awareness of emerging trends and technologies in the payments industry and their potential impacts on the organization.