The Vice President of Finance is responsible for the strategic direction, planning, implementation, and management of all financial activities in the company. This role involves overseeing the financial health of the company, ensuring compliance with accounting regulations, and providing guidance on investments, budgeting, forecasting, and financial analysis. As a key member of the executive team, the VP of Finance plays a critical role in driving the company's financial strategy to support business growth and profitability. The ideal candidate will have a strong understanding of the unique challenges of the staffing sector, such as managing payroll for a contingent workforce and ensuring compliance with labor and tax regulations.
Requirements:
Strategic Financial Leadership:
Develop and execute financial strategies aligned with company goals.
Provide financial forecasting, analysis, and reporting to the executive leadership team and the board of directors, focusing on staffing specific metrics such as gross margins, bill rates and fill rates.
Identify opportunities to improve operational efficiency and profitability in the staffing environment, particularly related to managing high-volume payroll and fluctuating workforce needs.
Financial Planning & Analysis (FP&A):
Lead budgeting, forecasting, and long-term financial planning processes.
Analyze financial trends, market conditions, and business performance to guide strategic decision-making.
Present financial results and insights to stakeholders, including the board and investors, highlighting key drivers in staffing revenue, placements and utilization rates.
Treasury Capital Management:
Ensure strong working capital management, particularly around receivables and payables, given the staffing industry's reliance on timely client payments.
Prepare short term and long term cash forecasts to align with company's operational and strategic needs.
Oversee payroll operations for both internal staff and temporary/contract employees, ensuring timely and accurate payment while managing cash flow effectively.
Maintain and negotiate relationships with banks and financial institutions for optimal service and favorable terms on loans, lines of credit, and banking services.
Monitor DSO (Days Sales Outstanding) and other cash conversion cycle metrics to optimize liquidity.
Manage company's capital structure, including debt, equity, and other financing options.
Evaluate and oversee potential mergers, acquisitions, and other financial investments.
Accounting & Compliance:
Ensure compliance with staffing industry-specific tax laws, wage regulations, and other legal requirements across different jurisdictions.
Oversee accounting operations, including accounts payable/receivable, payroll, general ledger, and financial statements.
Oversee the collection, filing and payment of sales taxes in states where the company operates. Ensure compliance with state specific financial, tax, and regulatory filing requirements.
Monitor financial reporting requirements specific to each state and ensure timely submission.
Manage relationships with external auditors, tax authorities, and financial institutions, particularly in navigating tax and compliance complexities in the staffing sector. Prepare for and coordinate state level audits, addressing any issues related to tax liabilities or regulatory concerns.
International Financial Responsibilities:
Ensure compliance with Indian tax laws, financial regulations, and government reporting (e.g. GST, income tax, etc)
Oversee preparation of financial statements in line with Indian accounting standards and coordinate audits as required by Indian law.
Manage transfer pricing compliance, ensuring proper documentation and adherence to regulations between U.S. headquarters and Indian subsidiary.
Risk Management and Insurance:
Manage risks associated with contingent workforce issues, including unemployment claims, workers' compensation, and liability coverage.
Ensure compliance with state specific payroll tax, unemployment tax and workers' compensation rules.
Oversee financial aspects related to state level business licenses and operation permits, ensuring timely renewals and compliance. Oversee compliance with insurance and bonding requirements that vary by state.
Implement internal controls to protect against financial fraud, errors, and non-compliance with labor laws.
Team Leadership & Development:
Lead, mentor, and develop the finance and accounting team, fostering a high-performance culture.
Work closely with the sales and operations teams to ensure that finance supports client contracts, billing and workforce fulfillment processes effectively.
Client Contract & Billing Optimization:
Collaborate with the sales team to analyze and structure client contracts, ensuring pricing strategies are competitive yet profitable.
Oversee the billing process for staffing placements, ensuring accurate tracking of billable hours, rates, and client invoicing
Financial Systems & Technology:
Implement and maintain efficient financial systems and technology solutions to support accurate reporting and decision-making.
Drive automation and optimization of financial processes.
Qualifications:
Bachelor's degree in Finance, Accounting, Economics, or a related field. MBA or CPA preferred.
10+ years of progressive financial leadership experience, preferably in a midsize or growing company. 3-5 years experience in the staffing or related industry a plus.
Strong understanding of staffing-specific financial metrics, payroll complexities, and compliance issues.
Experience with financial planning, budgeting, forecasting, and risk management in a dynamic staffing environment.
Expertise in managing high-volume payroll, working capital, and client contracts in the staffing industry.
Strong knowledge of financial regulations, tax laws, and compliance requirements.
Proven experience in managing audits, cash flow, and capital allocation.
Excellent leadership, communication, and analytical skills.
Proficiency with financial management software and ERP systems and staffing software such as , JobDiva, NetSuite, DataRails, or similar platforms is a plus.
Key Competencies:
Strategic thinker with the ability to align financial strategies with business goals.
Strong problem-solving and decision-making skills.
Ability to manage multiple priorities and work effectively in a fast-paced environment.
High level of integrity and dependability with a strong sense of urgency and results-orientation.
