Chief Financial Officer
Company: SPX Corporation
Posted on: December 7, 2018
At SPX Transformer Solutions, we are committed to hiring the best and most talented people and providing them with the tools and opportunities necessary for them to not only excel at what they do every day, but also fuel their workplace passions and transform their careers. Mentoring, training and development activities by industry experts abound, while the nature of the business encourages cross-functional and interdepartmental learning, communication and teamwork that lead to continuous improvement in all areas. Desired competencies include self-motivation, creative problem-solving, compulsion to make a difference and the ability to work well with others in a challenging, fast-paced environment. Job Summary This role is a member of the senior leadership team for SPX Transformer Solutions, reporting directly to the President. This role will also have dotted line reporting into the CFO for SPX. This is a true business partnership role, with the primary responsibility being to support the Business Unit President on financial, commercial, and operating matters bringing a strong analytical perspective grounded in fact. Further responsibilities will include accounting and financial reporting, strategic planning/budgeting, capital planning, and M&A/business development support. He or she will be responsible for providing executive leadership, financial strategies and the management of financial resources to support the Transformer Solutions business plans and objectives. A principal responsibility will be to ensure the quality of financial management throughout the organization, including processes and business analysis, and partnering with stakeholders that includes operations, manufacturing, and commercial teams. As a core member of the segment management team, he/she will be expected to contribute to strategic decisions beyond the finance function. The preferred candidate will bring the right combination of experience, competencies and culture fit to enable him/her to act as a business partner to the senior management team in driving the business and strategy. SPX's culture is one where integrity is of utmost importance; as such, the CFO will bring unimpeachable personal character. Experience in manufacturing/industrial businesses is required. The ideal background will be an individual who spent formative years in public accounting, and then transitioned into operational finance roles with a leading industrial manufacturer. In addition to understanding the manufacturing supply chain and commercial elements of the business, the CFO must be an outstanding communicator at all levels of the organization. The CFO will be a self-starter, willing to challenge peers and subordinates, but also work alongside them as an effective teammate. The CFO must have a proven track record of driving strong financial performance but also be a creative, analytical thinker who is comfortable developing and implementing various initiatives to build shareholder value through partnering with operations, commercial, and manufacturing teams. The ability to influence without direct authority and be viewed as a 'go-to' resource is essential. PRINCIPLE DUTIES AND RESPONSIBILITIES The priorities for the CFO will include: * Business Partnering: Provide timely, accurate and detailed financial analysis and counsel to the BU President and the broader leadership team. Accountable for all financial planning and analysis, accounting and reporting, operations analysis, budgeting, capital planning, support for acquisitions, and overall for providing financial support to the business. * Responsible for driving results and partnering effectively with the operations, supply chain, commercial, and functional support teams. * Partner with functional areas to promote and enhance communication for a coordinated understanding of all business objectives. * Leverage partnerships and build a network of effective relationships both internally and externally with business leaders and key customers. * Change Management: Improve processes, team, controls and data integrity to ensure that accurate data is captured and communicated across the organization. The business ? and financial organization ? will require added rigor of process, team, and sophistication. * Effectively present, facilitate and communicate across the entire organization at all levels; Ensure that the end market strategy, combined with short and long terms goals are understood across the business and aligned to employee goals and deliverables. * Protect corporate assets through the development, implementation and management of sound accounting policies and procedures. * Provide effective leadership and support in the evaluation, closing and integration/divestiture of prospective M&A activities. * Strategic Thinking: Support the BU President in developing operational excellence and growth strategies to effectively penetrate and grow market share and improve margins.. Participate in developing the strategic direction of the business, monitoring the performance of the business, performing value analyses of potential business opportunities and drive performance against the business goals. * Provide financial leadership and vision to the development of long range and annual plans that support strategic direction, tactics and business plans necessary to realize financial and operating objectives. * Commercial and Operational Acumen: Partner with the commercial organization to support pricing decisions, support negotiating and analyzing master service agreements, customer profitability, and product vs after-market service profitability. * Provide leadership and aligned guidance to the team on initiatives for product growth and margin improvement, leveraging product technology and commercial strategies * Financial Performance: Drive operational profit and cash flow/working capital improvements, lead key initiatives to set standards for driving results, and partner effectively with the operations, supply chain/manufacturing, and after-market service organizations. Responsible for directing and managing all financial activities in a manner designed to protect assets, meet reporting requirements, provide timely, meaningful reporting of operations and provide all strategic planning for the financial needs of the group. * Responsible for directing and managing all financial activities in a manner designed to protect assets, meet reporting requirements, provide timely, meaningful reporting of operations and provide all strategic planning for the financial needs of the group. * Ensure that all financial reporting and compliance obligations are fulfilled and communicated to corporate. * Assist the CEO, CFO and the investor relations group with communication to the Company's shareholders and investor community. * Review historical reporting practices and identify areas to enhance financial controls, policies and procedures to ensure timely and accurate financial statements are prepared to measure and report * Team Development: * Responsible for attracting, developing, retaining and rewarding talent across the organization to ensure bench strength and succession and hold leaders accountable for doing the same throughout the organization. * Motivate and develop a high performing leadership team with the ability to achieve the financial results and foster a culture of innovation; evaluate performance of leaders for compliance with established policies and objectives of the company and contributions in attaining objectives. * Execute talent management initiatives, including the creation and delivery of robust career development and supporting cross functional team development * Implement communication strategy to improve employee engagement and insure the workforce is regularly updated on the state of the business, and that business objectives, values and our vision are understood * Supports/drives a performance based culture encouraging the leaders of the business to develop measureable goals and objectives for themselves and their teams that support the SPX values and standards. Other: * Responsible for organization duties and responsibilities as contained in Items below: * Provide leadership in the development of an effective organization and its members. * Ensure timely and complete feedback provided to all associates, which enables them to improve their overall performance and contribution to the Company. * Provide leadership that facilitates accomplishment of diversity objectives by ensuring support systems and practices are in place to provide all employees the opportunity to contribute to their full potential by identifying and eliminating the obstacles and barriers which prevent this from occurring. * In all areas of responsibility, the incumbent is responsible for providing full compliance with the company Code of Ethics, which include ensuring subordinate staff are aware of the relevant company policies and that their responsibilities and actions comply and support these policies. * Responsible for the performance of other tasks related to this position as they are assigned by cognizant management. KEY PERFORMANCE INDICATORS (KPI) * Revenue * Working Capital / Cash Flow * Profitability * Talent * Timeliness of Reporting * Accuracy of Accounting and Forecasting * Internal Control Environment KNOWLEDGE, SKILLS & ABILITIES * Strong financial acumen and analytical skills ? able to assist in identifying and providing solutions to complex operational and financial issues. Able to create clear action plans. * Ability to develop financial plans and manage resources. Ability to analyze and interpret financial data. Proven success with accurate forecasting and subsequent business results. * Extensive knowledge and proven application of margin drivers, growth plan development and resource allocation. * Excellent written and verbal communication skills * Excellent interpersonal skills * Effective leader with proven ability to develop talent, coach, and mentor employees and create a culture of employee accountability and engagement. * Ability to work under pressure of multiple projects and deadlines? sometime with conflicting requirements * Ability to effectively prioritize workload and manage changes in direction and priority * Ability to develop, interpret and apply required policies and procedures * Ability to build buy-in with multiple stakeholders with sometime conflicting priorities * Attention to detail, flexibility, and ability to collaborate with others through appropriate influencing and negotiation strategies, and ability to work in a fast-paced environment. * Broad organizational business acumen, emotional intelligence, executive disposition and a strong bias for results. * Out-of-box innovative thinker, decisive; experienced in and capable of leading change. * Strategic thinking * Working knowledge of COSO Integrated Internal Control Framework and the ability to maintain an effective control environment * Proficiency with integrated business software (ERP) preferably experience with SAP and HFM. * Take charge individual with lots of energy and clear sense of urgency. * Works well under stress with the ability to deliver on time. * Proven track record of meeting commitments with the highest standards of ethics and integrity. EDUCATION AND CERTIFICATIONS Required Education / Experience * Bachelor's Degree or equivalent; or twenty plus years related experience and/or training; or equivalent combination of education and experience. * 15+ years experience in financial leadership roles * Expertise in US Generally Accepted Accounting Principles (GAAP) * Experience in strategic planning and execution * Experience of long term contract accounting preferred Preferred Education / Experience * Audit experience, preferably big 4 * Certified Public Accountant, Chartered Accountant or equivalent preferred. * Master's Degree/MBA preferred * Experience in manufacturing environment * Experience with engineered to order manufacturing environment * Experience leading teams across multiple locations * M&A experience ? due diligence and integration About SPX SPX Transformer Solutions, Inc. (formerly Waukesha Electric Systems, Inc), is one of the largest U.S. manufacturers of power transformers and a valued supplier of complete transformer service solutions, components and replacement parts as well as a variety of substation-applicable training classes for all skill levels including a large number of comprehensive LTC maintenance courses. We employ approximately 1,200 people throughout the United States and operate manufacturing facilities at our headquarters location in Waukesha, WI as well as Goldsboro, NC and Dallas, TX. SPX is an equal opportunity employer and makes employment decisions without regard to race, color, religion, national origin, sex, sexual orientation, gender identity, age, genetic information, disability, protected veteran status, or any other reason prohibited by applicable law. Thank you for your interest in our company.SDL2017
Keywords: SPX Corporation, Waukesha , Chief Financial Officer, Executive , Waukesha, Wisconsin
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