We are currently assisting our client in their search for a Restaurant Group CFO.
The CFO is responsible for the financial strengthening of the restaurants. The CFO will lead the Accounting department and analyze payroll and accounts receivable trends to determine what is needed for profitability.
- Direct the preparation of all financial reports, including income statements, balance sheets, tax returns, and reports for government regulatory agencies.
- Oversee accounting department, budget preparation, and audit functions. Meets regularly with CEO and President to keep informed and to offer direction.
- Review reports to analyze projections of sales and profit against actual figures, budgeted expenses against final totals, and suggests methods of improving the planning process as appropriate.
- Analyze company operations to pinpoint opportunities and areas that need to be reorganized, downsized, or eliminated.
- Confer with President, CEO, and fellow corporate team members to coordinate and prioritize planning.
- Study long-range economic trends and projects company prospects for future growth in overall sales. Estimates requirements for capital, land, buildings, and an increase in the workforce.
- Supervise investments of funds, works with banks and/ or investment bankers to raise additional capital as required for expansion.
- Develop and implement annual and strategic financial plans.
- Ensure timely monthly close process and preparation of financial statements including consolidated financial statements.
- Maintain monthly accounting schedule and accurate completion of reports from General Managers and accounting staff on a timely basis.
- Approve payroll.
- Approve wire transfers as appropriate.
- Review reconciliations of balance sheet accounts.
- Handle sales and use tax related matters and maintains tax calendar.
- Ensure timely recording of transactions and the integrity and accuracy of financial reports.
- Analysis of prepaid and accrual accounts.
- Coordinate accounts payable procedures to ensure timely recording and payment to business partners.
- Coordinate annual audit and liaison with external auditors.
- Design and implement internal accounting controls to ensure proper segregation of duties, safeguarding of assets, approval of transactions, and accuracy of reporting transactions.
- Prepare analytical reports as necessary to understand variances in reported financial information.
- Train, develop and lead the members of the finance team and provide guidance and supervision of team members.
Education, Experience, and Skills Required
- Bachelors’ Degree in business administration, accounting, or finance required, C.P.A preferred.
- 8+ years of experience in financial management specifically in the restaurant/hospitality industry is strongly preferred.