Chief Financial Officer

Title/Role: Chief Financial Officer (CFO)

Industry: Global, Multi-Site, Marine Services-Based Business

Location: Miami, Florida

Reporting: Reports to the Chief Executive Officer (CEO) Private Equity-Owned

CXO Source has been retained by our client, a private equity-owned global, multi-site, marine service-based business, to place a Chief Executive Officer.

Summary of Position:

The Chief Financial Officer (CFO) reports to the Chief Executive Officer (CEO) and is responsible for all aspects of the finance function, including accounting and control, financial reporting, planning and forecasting, treasury, credit and collections, and tax. The successful candidate will be (1) a partner to the CEO to drive the business, (2) willing to take a leadership role within the organization, (3) able to provide financial acumen and business process improvements and (4) able to help implement financial and accounting rhythm & rigor throughout the business. The CFO will partner with the CEO and the executive leadership team to implement the Strategic Objectives to:

(1) Grow Sales Revenue, (2) Generate Free Cash Flow and (3) Improve EBITDA margins for the business, organically and through acquisitions.

Key Responsibilities:

Responsible for all aspects of financial accounting for the company.

Strategic Financial Leadership

• Drive the company’s financial strategy, ensuring alignment with the PE firm's investment thesis and long- term value creation goals.

• Have a strong understanding of the company’s business model for generating customer value and translate the operational metrics into measures for performance.

• Provides strategic financial input and leadership on decision-making issues affecting the company and evaluates and advises on the impact of long-range planning (i.e., growth, new markets, strategies, regulatory interactions and investments).

Treasury, Banking & Contracts

• Establishes accounting policies and procedures for credit and collections, payment of bills, and other financial obligations. Receive, have custody of, and disburse the company’s monies and securities.

• Optimizes the management of bank and deposit relationships and initiates appropriate strategies to enhance the Company’s cash position overall and manage cash flow investment risk and yields.

• Administer loan agreements and maintain adequate sources of capital for the company’s current borrowings from commercial banks and other lending institutions.

• Manage bonding requirements as part of the company’s broader financial risk management, compliance, and capital structure, ensuring both operational continuity and financial health.

Cash Flow & Working Capital Management

• Maintain strong liquidity oversight, optimize working capital, and ensure the business meets aggressive cash flow and covenant targets.

• Control the cash flow position in the company and in each regional office, develop a reliable 13-week cash flow forecast process and reporting mechanism that includes minimum cash thresholds to meet operating needs of the company and understand the sources and uses of cash, maintain the integrity of funds, securities and other valuable documents.

Budgeting, FP&A and Margin Analysis

• Leads the budget development process and monthly forecasts, collecting the inputs, and comparing the company’s actual performance with estimates (the budget).

• Lead forecasting, budgeting, variance analysis, and KPIs to deliver insights that drive decision-making and operational efficiency.

• Drive margin improvement and cost efficiency initiatives by analyzing the variable cost (direct/subcontracting labor and OVC), pricing strategies, and customer/vendor performance.

Accounting & GAAP Compliance

• Oversee the accounting function, ensuring compliance with GAAP, robust internal controls, audit readiness, timely completion of a successful audit and implementing corrective actions.

• Oversee international entities audit and annual filing requirements are met in accordance with local regulations and filing deadlines.

• Evaluate and implement the GAAP compliant revenue recognition accounting method, to evaluate and manage work-in-progress projects.

• Ensures the timeliness and accuracy of financial records/performance, prepares required financial reports (P&L, BS, IC, CF etc.) in accordance with statutory book closing (10 day hard close).

• Ensuring company compliance with financial regulations and standards, like the IRS Tax Code, and GAAP

Board/Investor & Lender Reporting

• Deliver timely, accurate financial and operational reports to lenders, the board, and the PE firm, including compliance with debt covenants and reporting packages. Work directly with lenders as required.

• Execute a timely monthly closing process of all financial transactions, regular flash reports and annual reports to private equity sponsors, key stakeholders and the Board of Directors.

M&A and Exit Readiness

• Lead financial due diligence for acquisitions, support post-merger integrations, and prepare the company for a future sale or exit, maximizing enterprise value. Working with the private equity owner to develop CIMs and manage data sites and diligence through the sell process.

ERP & Systems Optimization

• Ensure effective use of ERP, CRM, and reporting tools to drive automation, accuracy, and scalability across the finance function.

• Work with analysts within the company and the private equity owner to build out, validate the accuracy of the financial and analysis of Power BI and other data analytic tools for improved business metrics and dashboards.

Finance Team Leadership & Development

• Build and lead a high-performing finance and accounting team, including Controllers, Cost Accountants, Staff Accountants, A/R & A/P Analysis across the regions and foster a culture of accountability, continuous improvement, and Travel is required, globally, to teach, coach and upgrade finance talent in each regional office working in conjunction with regional managers.

Lead IT & HR Functions

• The CFO will also be responsible for the IT functions, including IT Manager and support staff. Will need to have knowledge of CRM and ERP systems and understand how to integrate and optimize the business.

• The CFO will either directly or indirectly be responsible for Human Resource (HR) functions or support the HR team, including company benefit plans, insurance, and payroll systems.

Partnership with the Executive Team & the Private Equity Deal Team

• Work closely with the CEO, CCO, COO, MDs and other leadership team members to shape and execute company strategy, with a strong focus on operational performance and value Ability to work across time zones and work with colleagues from different cultures and communicate effectively.

• Work closely with the private equity deal team, including the Operating and Investment Partners, Operational Analysts and the firms CFO/CCO. Report Financial Performance to the Board of Directors every month and Cash Flow forecast bi- weekly as needed.

Qualifications & Requirements:

• Education and Experience: Must have at least 10+ years of proven multi-site and global financial leadership experience in a marine services business with demonstrated successful progression in financial roles with higher levels of responsibility culminating in a Vice President of Finance or higher role required. Must have at minimum, a BS/BA degree in Finance/Accounting; a MS Finance or MBA degree and /or an active CPA is preferred and a plus. Experienced with advanced information technology systems with CRMs and ERP software. Experienced with private equity owned businesses required. Responsible for interfacing directly with lenders and equity sponsors. Experience in integrating acquisitions and sales transaction (exiting PE business) experience is a plus.

• Leadership and Organization: Sound technical skills, analytical ability, good judgment, strong operational focus and ability to anticipate future consequences and trends and incorporate them into the organizational plan. Exceptional capacity for managing and leading people with the ability to enforce accountability and empower individual. Experienced in building a strong financial group by identifying and developing talent and incorporating best practices into procedures and processes as necessary.

• Action Oriented: Ability to act and react as necessary, even if limited information is available, willing to take charge of a situation and overcome resistance to leadership, taking unpopular stance when necessary. Proven track record of rolling up sleeves, dissecting cost structures, and identifying true cost out opportunities in collaboration with Operations.

• Financial Planning and Analysis: Demonstrated ability to develop common financial operating statements, understand levers that drive profitability and the ability to navigate through complex financial situations to maximize results. Successful and demonstrated track record in increasing EBITDA. Demonstrated proficiency with ERP and IT systems and the ability to manage systems requirements.

Operational Planning and Execution: Success in developing processes and metrics that drive proper resource allocation, rapid assessment of personnel and business progress, and reinforce successful execution of the financial plans and operating initiatives that drive earnings growth. Exceptional communication skills and the ability to listen, evaluate, and contribute to excellent presentation preparation and delivery skills.

Compensation & Benefits:

• Salary: $275K+ Bonus: 30%+ Equity Incentive and Benefits

• Location: This position will be an in-office role based in Miami