Chief Financial Officer

 

THE OPPORTUNITY:

 

Steel Partners is undertaking a creative and proactive approach to the recruitment of operating executives.  They are seeking talented executives to become the CFO of an individual operating company – one currently in their portfolio.

 

Company Overview

Steel Partners Holdings L.P. (NYSE: SPLP; www.steelpartners.com) is a publicly traded diversified global holding company that has significant interests in leading companies in various industries including diversified industrial products, energy, defense, banking, insurance, food products and services, oilfield services, sports, training, education, and the entertainment and lifestyle industries.

 

As long-term investors, Steel Partners has focused on enhancing value through the implementation of operational excellence, corporate strategic restructuring programs and other components of the Steel Partners culture - what we call “The Steel Way.” Together, Steel Partners businesses generate $3.4 billion in revenue and employ more than 13,000 people in 18 countries.

 

To find out more about the company, please visit www.SteelPartners.com.

 

HandyTube Corporation is a seamless specialty tubing manufacturer based in Camden, Delaware. As a premium manufacturer, HandyTube provides customer-specific solutions for the flow of gas, steam, and liquids in the most harsh and demanding environments. The Company’s process allows it to produce made-to-order, seamless, stainless steel and specialty alloy tubing ranging from one inch in diameter to finer than a human hair, and in continuous lengths that can exceed a mile. Dedicated to high-quality service and products. HandyTube’s highly experienced engineers provide expertise on new product development through continuous improvement and lean manufacturing and work successfully with customers globally to take products and projects from initial concept to full scale implementation.

 

We are committed to our values, Safety, Quality, Customer Focused and Innovation, and are our guiding principles we live by in everything we do. 

 

To find out more about HandyTube, please visit www.handytube.com.

 

REPORTING STRUCTURE:

 

The Operating Company CFO (OpCo CFO) is a key organizational leader contributing to strategic creation/planning/deployment, cultural leadership/transformation, and operational execution. The staff positions that directly report to the OpCo CFO will typically include the staff positions of finance and accounting.

 

PERFORMANCE PROFILE:

 

The CFO is an integral part of the Operating Company’s senior management team, serving as a true business partner and financial counsel to the leadership team involving strategic planning, decision making, and implementation, compliance and reporting in support of corporate objectives. The CFO is also a primarily interface to Steel Partners including regular interaction with the Steel leadership team.  Specifically, the CFO will proactively:

 

• Build a data driven culture fostering profitable growth and improved decision making
• Actively seek out and partner with all levels of the business and increase the overall financial acumen
• Ensure accurate and timely submission of Segment financial reporting and forecasting to Steel Partners. Provide insight into the business and sound financial analysis for senior management.
• Identify new profit opportunities within the existing business
• Support expansion efforts in existing and new markets; this will come from a combination of organic growth and a robust acquisition strategy. Integral to the acquisition process, participate in pre-acquisition discussions with target companies, direct the due diligence, valuation and post-acquisition integration processes.
• Maintain the financial integrity of the organization with Generally Accepted Accounting Principles (GAAP) and adequate financial controls that are established and maintained in accordance with Sarbanes-Oxley.
• Ensure the profitability of the business.

 

The CFO holds full accountability for the integrity of the Segment operating companies (OpCo) and Segment financial statements, accurately reporting financial and other information that forecasts the companies’ business activity and financial position as required to meet business reporting and financial regulation needs internally and externally. The CFO provides support to Steel Partners to ensure corporate financial policies, procedures and controls are in use and fully effective at the Company and directs due diligence and integration of acquisitions. In addition, the CFO effectively manages and develops the financial and clerical accounting functions.

 

Performance objectives are as follows:

 

First Year Performance Objectives

Position Profile

Business Partnership – Strategic Planning

 

·         Proactive partner to sales, operations, and other functions in decision making including investments and M&A

·         Support annual Strategy Deployment Process (SDP) and general business planning at Segment and OpCo levels by recommending objectives that will result in financial growth and stability.

·         Advise on trends and regulations in the financial and general manufacturing industries to ensure effectiveness and compliance.

·         Participate with President in developing overall plans for the direction of the businesses by being a key leader in the SDP.

 

Business Performance & Analysis

 

 

·         Drive the Steel Partners Business System throughout Segment Finance using the Steel Business System tools including Lean and 80/20.

·         Develop and recommend strategies to improve profitability.

·         Assure compliance with Steel Partners financial policies, procedures, control requirements and reporting systems.

·         Maintain or implement improved internal reporting and information systems to provide best support to division management in making decisions about the business, including budgets, financial reporting, forecasting and special analysis.

·         Provide strong analysis and communication to Steel Partners management on financial matters.

·         Benchmark financial performance internally and externally, compare vs. plan and advise and implement effective strategies to effect change/resolve issues as necessary.

·         Evaluate acquisitions, provide financial valuations and acquisition analysis and oversee/conduct due diligence as necessary. Prepare material for, and communicate effectively with, executive management in customer and candidate merger/acquisition organizations.

·         Provide routine forecasting to identify and monitor key business drivers and variances - advising and implementing appropriate action when necessary.

 

Finance Function Effectiveness

·      Cost/Efficiency

·      Compliance & Reporting

·      Planning & Analysis

·         Develop and maintain accurate and effective financial statements.

·         Ensure adequate financial controls and all Sarbanes Oxley related processes are established and maintained. Maintain proper controls over assets including working capital, fixed assets, capital expenditure/justifications approvals, budgets and audits.

·         .

·         Provide efficient, effective accounting systems, including general ledger, cost accounting, credit and collection, and accounts payable, payroll.

·         Work with President, and Steel Partners financial, IT and/or general management to develop information, propose courses of action and implement reporting and control systems to help resolve operating problems.

 

People & Organization

·      Culture of continuous improvement

·      Best-in-class team

·         Build a highly technical and efficient Finance organization, which may require the recruitment of new talent.

·         Effectively manage and support global Finance resources in a matrix organization structure.

·         Develop Finance teams to meet changing Segment and Corporate needs, ensuring timely performance reviews and retention and advancement of key staff.

·         Oversee the operations of the finance/accounting department, including the design of an organizational structure adequate for achieving the department's goals and objectives.

·         Develop the bench strength and build a high-performance finance team skilled in lean accounting principles, operational accounting and FP&A.

 

 

 

CANDIDATE REQUIREMENTS:

 

Education:

 

A bachelor’s degree in Accounting or Finance is required; MBA preferred. CPA/CMA a plus but not required.

 

Professional & Personal characteristics:

 

The successful candidate will have a total of 15+ years Finance/Controller experience, including 5+ years as the finance leader for a stand-alone operating company or division in a public or private equity company. The company/division should encompass multiple manufacturing locations (domestic and international); multi-site at the OpCo/regional level; complex businesses and tax/legal entity structures.

 

The candidate will have the experience of partnering with senior operations and P&L leadership to drive superior financial performance in manufacturing operations. Must demonstrate a command of all aspects of the Finance function including financial planning & analysis tools/practices, accounting, and exceptional operational accounting/finance experience (lean experience preferred). Requires hands-on, on-the-ground experience in a stand-alone operating company or operating division of a major global company.

 

 

 The candidate will present superior leadership, influencing, consensus building, collaboration and communication skills, conflict management capabilities and strong executive presence/composure. He/she will demonstrate a strong process orientation and a track record of successfully improving the financial function’s operations and efficiency.

 

Additional traits and competencies that define the successful candidate are: Tough-minded but a welcome team member.

 

• Must be a “hands on” leader who demonstrates a willingness to dig into the details as needed to determine root cause and countermeasures.
• Possesses a high sense of urgency.
• Driven by very high expectations and delivers results, not “activity.”
• A balance of humility and high confidence.
• Targets breakthrough performance, not simply incremental gain.
• Thinks expansively and believes in achieving the heretofore unachievable.
• Is highly autonomous and self-directed.
• Is comfortable in a very direct and candid environment focused on results.
• No surprises approach; transparency on financial issues.
• Can accurately assess businesses from a “general manager’s” point of view and set priorities for improvement.
• Has the ability to create followership.
• Possess the technical skills necessary to resolve a broad array of business issues.
• Demonstrates a passion for building a talented organization and specific track record of recruiting and developing highly capable talent.
• Manages people well; inspires others; builds motivated, high-performing teams; holds people accountable and gives useful feedback.
• Delegates and develops; keeps people informed; provides coaching for today and for the future.
• Equally effective communicating at all levels of the organization; communicates a compelling vision and is committed to what needs to be done.
• Ability to provide leadership in the design, development and execution of lean accounting processes in finance/accounting.
• Effectively articulates issues and facilitates their resolution.
• Demonstrated knowledge of, and familiarity with, a variety of TPS/Lean tools including but not limited to: VSM, Standard Work, Pull Systems & Kanban, SIOP, Daily Management, 5S/Visual Management, 3P, SMED, TPM, Transactional Process Improvement, Variation Reduction Kaizen, etc.
• Demonstrated knowledge of, and familiarity with, a variety of Growth tools including but not limited to: VOC, Sales Funnel, Solution/Value Selling, Value Pricing, Advanced New Product Introduction, Product Life-Cycle Management, etc.

 

Ultimately, the successful candidate will bring a dynamic combination of experiences with the interpersonal and communications skills that afford him/her superior credibility and leadership within the Steel Partners Leadership Team, and down through all levels of the organization. He/she will work across many peers and indirect subordinates within the management team, all the while engaged in a hands-on, proactive, creative and disciplined manner. The candidate must demonstrate upside growth potential and aspire to increasingly responsible roles, potentially OpCo President, larger OpCo CFO, or corporate level over time.

Qualifications

CANDIDATE REQUIREMENTS:

 

Education:

 

A bachelor’s degree in Accounting or Finance is required; MBA preferred. CPA/CMA a plus but not required.

 

Professional & Personal characteristics:

 

The successful candidate will have a total of 15+ years Finance/Controller experience, including 5+ years as the finance leader for a stand-alone operating company or division in a public or private equity company. The company/division should encompass multiple manufacturing locations (domestic and international); multi-site at the OpCo/regional level; complex businesses and tax/legal entity structures.

 

The candidate will have the experience of partnering with senior operations and P&L leadership to drive superior financial performance in manufacturing operations. Must demonstrate a command of all aspects of the Finance function including financial planning & analysis tools/practices, accounting, and exceptional operational accounting/finance experience (lean experience preferred). Requires hands-on, on-the-ground experience in a stand-alone operating company or operating division of a major global company.