Financial Operations Manager

2 weeks ago


Odessa, Texas, United States PERMIAN BASIN MATERIALS LLC Full time


JOB DESCRIPTION
Summary

The Financial Operations Manager will play a pivotal role within the finance team, providing strategic insights to senior leadership aimed at enhancing operational efficiency, business performance, and profitability.

This position entails overseeing the daily functions of the finance department, which includes managing teams responsible for Accounts Payable and Receivable.

The primary focus will be on maintaining precise financial records and ensuring adherence to GAAP standards.
Functional Responsibilities

Engage actively in the daily management of the finance department, collaborating with business and operational leaders regularly, while developing a comprehensive understanding of Permian Basin Materials LLC's operations to identify crucial financial data that can address emerging challenges and opportunities.

Ø Demonstrate a strong work ethic with the capability to follow directions and work both collaboratively and independently.

Ø Comply with Permian Basin Materials LLC's Code of Conduct and internal policies.
Ø Prepare timely and accurate monthly, quarterly, and annual financial statements in accordance with GAAP.
Ø Supervise the finance department.

Ø Gain a thorough understanding of all departmental functions, cross-train staff, and serve as a backup when necessary (AP, AR, and administrative tasks).

Ø Assist the CFO, VP of Finance, and Financial Analyst in the preparation of the annual budget and rolling forecasts, report on budget variances, and conduct variance analysis.

Ø Oversee credit card, balance sheet, and bank account reconciliations.
Ø Manage all fixed asset accounting, including cost analysis for purchases, inventory valuation, and depreciation schedules.
Ø Conduct intercompany eliminations for multi-entity transactions.
Ø Ensure accurate accounting of liabilities, including capital leases.

Ø Collaborate with the VP of Finance and external auditors to ensure proper accounting of acquisitions, including but not limited to opening balance sheets and working capital adjustments.

Ø Assist the VP of Finance with precise cash flow forecasting.
Ø Possess a thorough understanding of transaction processing and its reflection in the general ledger.
Ø Work with external auditors, staying informed about GAAP changes and effectively communicating and implementing necessary adjustments (e.g., revenue recognition, leases, etc.)
Ø Support the VP of Finance during the annual external audit.

Ø Liaise with external professionals, including CPA firms, banks, and insurance agents, preparing all necessary information and schedules for external audits.

Ø Foster strong communication with plant and district managers regarding their financial reporting.

Ø Earn the respect of peers, subordinates, and superiors through integrity, ethics, and a strong moral compass, setting a standard for leadership.

The candidate will uphold the integrity of financial information by establishing appropriate systems and controls.
Specific Duties and Responsibilities
Ø Review and understand the Balance Sheet.
Ø Ensure an accurate chart of accounts.
Ø Guarantee compliance with GAAP.
Ø Ensure adherence to sales tax and property tax reporting requirements.
Ø Advise district management on the financial implications of business activities.
Ø Provide recommendations to strategically enhance financial performance and business opportunities.

Ø Ensure effective internal controls are in place, complying with GAAP and applicable federal, state, and local regulations for financial and tax reporting.

Ø Recruit, train, and motivate accounting staff.
Ø Ensure credit policies and DSO practices are balanced and effectively implemented.
Ø Ensure capital expenditures are accurately captured and recorded.
EXPERIENCE/TRAINING/CERTIFICATIONS
The Financial Operations Manager should be a high-energy, detail-oriented leader who operates with a strong sense of urgency and is committed to team success, including the following:

Ø A Bachelor's degree is required, along with a minimum of five to seven years in senior accounting or finance roles (e.g., accounting manager, assistant controller) with a proven track record of success in financial roles, team management, and increased responsibilities.

Ø The Financial Operations Manager must possess the skills necessary to understand the financial drivers of the business, oversee the accuracy of US GAAP accounting, manage external auditors, and effectively communicate with district managers regarding the company's financial performance.

Ø Experience in private equity-backed environments is advantageous but not mandatory.

Experience in a family-owned business where executives helped retain local knowledge while establishing best-in-class financial processes is also beneficial.

Ø Experience with annual budgeting and long-range financial planning processes, as well as managing and developing monthly financial reporting and analysis, is essential.

Ø Experience managing or working in organizations with external debt facilities, including bank financing with quarterly financial reporting and covenant compliance, is a significant advantage.

Ø Experience leading and developing a financial ERP system is a strong plus.
Ø M&A experience or experience integrating and consolidating financial systems post-acquisition is advantageous.
Ø The Financial Operations Manager must have exceptional communication and presentation skills, both written and verbal.
Ø Strong problem-solving abilities and intellectual curiosity are essential.

Ø Demonstrated capability to balance short-term objectives (quarterly budget goals, expense management, etc.) with long-term strategic aims.

Ø Comfortable working in a fast-paced, entrepreneurial environment.
Ø CPA or CMA designation is a strong advantage.

Ø A valid driver's license with no major violations that would preclude driving for business, as defined by company policy and insurance requirements.

Ø Ability to thrive in a fast-paced, deadline-driven environment.

PHYSICAL AND ENVIRONMENTAL REQUIREMENTS
Ø Candidate must be drug-free.

Ø Must be able to:
o Lift or carry up to 20 pounds from floor to 3' – 5' occasionally,
o Lift or carry less than 10 pounds frequently (documents, supplies, small office machinery),
o Sit for extended periods with occasional walking and standing,
o Use hands and fingers to operate computers and other office machinery,
o Communicate effectively in verbal and written formats with internal and external personnel, clients, and vendors,
Ø Work is performed in a standard office environment.

Requirements:
Are you the right candidate for this opportunity? Make sure to read the full description above.

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