Chief Finacial Officer (CFO)

The Chief Financial Officer (CFO) will lead and manage the financial strategy of a dynamic and diversified group of companies operating in restaurants, procurement, real estate, and hospitality (hotel).

JOB DESCRIPTION

ROLE:                      Chief Financial Officer (CFO)

DEPARTMENT:           Accounting and Finance

SENIORITY:            Manager

REPORTS TO:          Managing Director 

LOCATION:              Antigua and Barbuda

ROLE SUMMARY:

The Chief Financial Officer (CFO) will lead and manage the financial strategy of a dynamic and diversified group of companies operating in restaurants, procurement, real estate, and hospitality (hotel). The CFO will be responsible for overseeing financial planning, cash flow management, risk management, financial reporting, and operational performance while driving business growth and long-term sustainability. This is a key leadership role, reporting directly to the MD and working closely with other senior executives across the group to develop and execute the group's overall financial strategy and ensure alignment with business goals.

KEY RESPONSIBILITIES: 

Financial Strategy & Leadership:

1. Develop and implement financial strategies that align with the group’s overall objectives.
2. Provide strategic recommendations to the MD and members of the executive management team to enhance financial performance and business opportunities.
3. Lead financial planning, budgeting, forecasting, reporting, and other financial initiatives to support expansion and growth across the group (restaurants, procurement, real estate and hospitality).
4. In conjunction with MD lead the group’s capital planning to ensure that the group's capital structure ideally balances the best mix of debt, equity, and internal financing.
5. Ensure the group has robust financial and risk management policies and controls in place.

Financial Planning & Analysis:

1. Oversee the preparation and management of budgets, forecasts, and financial reports for all companies within the group.
2. Analyze financial performance, identifying trends, and implementing measures to improve profitability, cash flow, and operational efficiency.
3. Drive scenario planning, modeling, and financial projections for various sectors to support decision-making.

Operational Finance Management:

1. Oversee the finance departments of individual business units, ensuring accurate accounting, reporting, and compliance with financial regulations.
2. Ensure timely financial statements, audits, and tax filings across the group.
3. Optimize the working capital management process, including cash flow, receivables, payables, and inventory control, especially for restaurant and procurement operations.

Accounting and Financial Reporting:

1. General Ledger Management: Ensure the integrity and accuracy of the general ledger, overseeing month-end and year-end closing processes.
2. Accounts Payable and Receivable: Supervise the accounts payable (AP) and accounts receivable (AR) functions, ensuring timely payments and collections.
3. Revenue Recognition: Ensure that revenue is recognized in accordance with applicable accounting standards.
4. Expense Management: Oversee the management and control of operating expenses, implementing cost-saving initiatives where applicable.
5. Financial Statement Preparation: Oversee the preparation of accurate and timely financial statements, including income statements, balance sheets, and cash flow statements.

Budgeting and Forecasting:

1. Annual Budget Development: Lead the development of the annual budget, collaborating with department heads to ensure alignment with organizational goals.
2. Budget Monitoring: Track actual financial performance against the budget, analyzing variances and providing recommendations for corrective actions.
3. Rolling Forecasts: Implement rolling forecasts to continuously update projections based on current performance and market conditions.
4. Scenario Analysis: Perform scenario and sensitivity analyses to assess the financial impact of different business strategies and market conditions.

Cash Flow Management:

1. Cash Flow Forecasting: Monitor and project cash flow requirements, ensuring the company maintains adequate liquidity to meet operational needs.
2. Working Capital Management: Optimize working capital by managing the balance between current assets and liabilities, including inventory, AR, and AP.
3. Credit Control: Establish and enforce credit policies to minimize bad debt while supporting sales growth.

Financial Controls and Compliance:

1. Internal Controls: Develop and maintain robust internal controls to safeguard company assets and ensure the accuracy of financial reporting.
2. Audit Management: Coordinate internal and external audits, addressing any findings and implementing recommended improvements.
3. Regulatory Compliance: Ensure compliance with all relevant financial regulations, including tax laws, corporate governance standards, and industry-specific regulations.
4. Policy Development: Establish and enforce financial policies and procedures, including those related to procurement, expense reimbursement, and financial reporting. 

Tax Planning and Compliance:

1. Ensuring compliance with all applicable tax laws and regulations.
2. Tax Reporting: Oversee the preparation and filing of all required tax returns, including corporate income tax, sales tax, and payroll taxes.
3. Tax Risk Management: Monitor changes in tax legislation and assess their impact on the company’s financial position.

 Financial Systems and Technology:

1. Enterprise Resource Planning (ERP) System Management: Oversee the implementation, maintenance, and optimization of the company’s Enterprise Resource Planning (ERP) system.
2. Data Integrity: Ensure the integrity and accuracy of financial data across all systems, facilitating reliable reporting and analysis.
3. Process Automation: Identify opportunities to automate financial processes, enhancing efficiency and reducing manual errors.

Cost Management and Profitability Analysis:

1. Cost Analysis: Analyze and report on cost structures, identifying opportunities for cost reduction and efficiency improvements.
2. Profitability Tracking: Monitor and analyze the profitability of products, services, and business units, providing insights to support strategic decision-making.
3. Cost Allocation: Implement accurate cost allocation methodologies to ensure that overhead and indirect costs are appropriately assigned to products and services.

 Capital Management:

1. Lead relationships with investors, banks, and financial institutions, ensuring access to capital and favourable terms for growth and development.
2. Capital Expenditure Management: Oversee the planning, budgeting, and approval of capital expenditures, ensuring alignment with strategic objectives.
3. Asset Management: Manage the company’s fixed assets, ensuring proper accounting, depreciation, and maintenance.

1. Develop strategies for raising capital to fund expansion, including debt, equity, and other financing mechanisms.

5. Debt Management: Oversee the company’s debt portfolio, managing interest rate risks, refinancing strategies, and covenant compliance.

Risk Management & Compliance:

1. Assess and manage financial risks for each sector within the group, including operational, market, and regulatory risks.
2. Ensure compliance with local and international financial regulations, tax laws, and reporting requirements.
3. Ensure compliance with the group’s internal policies and procedures and where necessary develop and implement internal controls to safeguard company assets and maintain the integrity of financial reporting.

Oversee insurance policies, contracts, and partnerships to mitigate risks to assets and revenue streams.

Stakeholder & Contract Management:

1. Serve as the primary liaison with external auditors, tax advisors, financial institutions, and other key stakeholders.
2. Manage shareholder relations and ensure transparent and timely communication regarding financial performance and corporate strategies.
3. Present financial reports and analyses to the Board of Directors, shareholders, and other stakeholders as required.
4. Collaborate with other senior executives to set strategic goals and make informed decisions.
5. Vendor Relations: Manage relationships with key financial service providers, including banks, auditors, and insurance companies.
6. Contract Negotiation: Oversee the negotiation and management of contracts related to financial services, ensuring favorable terms and compliance with group policies

 Team Leadership and Development: 

1. Lead, mentor, and develop the finance team to build a high-performing, results-driven department while ensuring adequate support for business operations.
2. Foster a culture of continuous improvement, accountability, financial discipline, and innovation within the finance team and across the group.
3. Provide guidance on career development and ensure the finance team is equipped with the necessary skills and resources.
4. Regularly recognize good and outstanding individual and team performance and achievement of objectives through informal and formal reward & recognition.                  
5. Ensure that standards, policies and procedures are consistently adhered to by all team members.
6. Collaborate with other senior executives and business leaders to align financial and operational goals.
7. Attend meetings and hold regular briefings and departmental meetings. 
8. Conduct team performance reviews according to performance management policy and procedure.
9. Comply with request from the MD, including ad hoc projects and undertake work of a similar level that is not specified in the Job Description.  

QUALIFICATIONS:

1. Bachelor’s degree in finance, Accounting, Economics, or a related field; MBA or master’s in finance preferred.
2. ACCA, CPA, CMA, or CFA certification is highly desirable.
3. Minimum of 10 years of progressive experience in financial management, with experience in multiple industries including hospitality, real estate, procurement, and/or F&B.
4. Proven track record as a CFO or senior finance executive within a complex, multi-business group.
5. Strong understanding of financial planning, forecasting, budgeting, and risk management.
6. Proven experience in financial management, strategic planning, and risk management.
7. Strong knowledge of corporate finance, accounting principles, and regulatory compliance.
8. Excellent leadership, communication, negotiation and interpersonal skills, with the ability to influence and collaborate across all levels of an organization.
9. Demonstrated ability to manage complex financial operations and lead a high-performing team.
10. Experience in the hospitality industry is preferred.
11. Proficiency in financial software and tools, with a strong analytical mindset.
12. Ability to thrive in a fast-paced, dynamic environment, and adapt to changing business needs.

SKILLS & Key Competencies

1. Strategic thinker
2. Strong Financial Acumen.
3. Problem Solving and Decision Making
4. Excellent leadership, communication, negotiation, and interpersonal skills.
5. Ability to influence and collaborate with senior executives and stakeholders.
6. In-depth knowledge of corporate financial law, risk management practices, and regulatory requirements.
7. Proficient in financial software and tools (e.g., ERP systems, financial modeling, etc.).
8. High level of integrity and dependability with a strong sense of urgency and results orientation.

Salary

Competitive and commensurate with experience