Our client is a leading privately held diversified music company with offices in the U.S. and the U.K. The Company operates recorded music labels, a music publishing company, a digital and physical distribution and label services busienss, and holds equity positions in other related entities.
Chief Financial Officer
At the Company’s headquarters or in Los Angeles, CA or New York, NY
The senior financial executive will report directly to the company’s managing partners, serve as the executive team’s financial expert and lead a team of finance and accounting professionals. The CFO will work closely with the managing partners, understand their vision, and develop and implement the financial strategy, process, infrastructure and organization to achieve The Company’s desired growth. The hire will have primary day-to-day responsibility for planning, implementing, managing and controlling all financial-related activities of the company.
This executive will elevate the Company’s ability to make long range strategic business decisions based on forward looking financial analysis. The successful CFO will craft and drive a financial strategy that enables the Company’s accelerated expansion across international markets, genres and lines of business.
- Participate in key decisions as a member of the executive management team
- Maintain in-depth relationships with all members of the management team
- Provide executive management with advice on the financial implications of business activities
- Provide recommendations to strategically enhance financial performance and business opportunities
- Manage any third parties to which financial functions have been outsourced
Finance, Accounting & Tax
- Direct the budget and forecast process including cash flow management
- Prepare consolidated budget and forecast presentations for executive management
- Create an efficient financial infrastructure that is “Investment Ready”
- Manage and optimize the tax structure of the company, including overseeing the tax preparation process with the outside accounting firm
- Supervise all aspects of the general accounting and finance staff
- Oversee the financial operations of related companies and foreign operations
- Provide the timely and accurate issuance of financial information and management reporting to employees
- Review and approve ad hoc analysis
- Manage departments and monitor overall overhead spend compared to expectations
- Ensure that effective internal controls are in place and ensure compliance with applicable federal, state and local regulatory laws and rules for financial and tax reporting
- Monitor cash balances including the investment of excess funds
- Manage the capital request process
- Maintain banking relationships including management of company lines of credit and foreign currency exchange
- Arrange for debt financing and manage ongoing leverage relationships
- Assist in formulating the company’s short and long-term direction and supporting tactical initiatives
- Monitor and direct the implementation of a strategic business plan
- Develop performance measures that support the direction of the company
- Creating and implementing a process of accountability through metrics tied to support strategies
Operations and administration
- Implement operational best practices across all business units
- Partner with HR to review employee medical benefit plan options annually, to strike a balance around competitiveness, employee retention, wellness and cost efficiency
- Assist with employee benefit policies and design other administrative policies as necessary
- Evaluate expansion opportunities in major music markets and emerging markets
- Analyze a range of international deals and initiatives, and identify practical competitive funding options
- Participate on deal team and lead the negotiation of financial aspects of all green lighted projects
- Work effectively across cultures within the company and with external partners
- Understand and mitigate key elements of the company’s risk profile
- Construct and monitor reliable control systems
- Maintain appropriate insurance coverage
- Ensure that record keeping meets the requirements of auditors and government agencies
- Development and monitoring of control systems designed to preserve company assets and report accurate financial results.
- The senior financial executive should have a degree in accounting or finance and 10 or more years of progressively responsible experience leading finance and accounting departments. Ideal candidates will have gained their experience across a mix of organization types including public accounting, organic and strategic growth small, mid-sized and large companies, and should have had responsibility for finance in both divisional and parent company organizations.
- Experience in partnering with an executive team
- Success in a leadership role in an organization with a purpose driven culture
- Interest in music and understanding of the unique needs of a growing music company in the independent sector
- Experience overseeing and improving a wide range of accounting processes and systems
- Versed in the finance, accounting, tax and foreign exchange aspects of international expansion and management. Emerging markets experience is a plus.
- Experience in industries that are fast moving, consumer facing and intellectual-property-based
- Well-versed in a range of financial transactions and vehicles including debt, fund raising, investing, joint ventures and other structures, and their application in growth situations
- Experience in acquisitions, merger integration, divestures, LBOs, private equity or IPOs a plus
- Sought after sounding board who works comfortably in a matrixed structure and across departmental and divisional structures
- Depth of experience in the above listed Principal Accountabilities section
- Confident leader, with a collaborative, diplomatic style, who exercises discretion and transparency as appropriate for the role of CFO
- Effective mentor and developer of staff at all levels
- Highest integrity, work ethic and trustworthiness
- A high level of written and oral communication skills
- Passionate about the accounting and finance profession, and comfort level working with highly successful self-made founders
- Preference will be given to candidates with a CMA or CPA license.
To express interest or recommend a qualified candidate, please email the Company’s exclusive recruiting for this assignment at [email protected] and include “Music CFO 2020” in the subject line.