Wanted: Director of Finance role

Do you love world-changing technology? Do you have a passion for sustainable materials? Does building interactive financial models and partnering with the business by providing financial insights bring you joy? Does the idea of engineering a waste-free future excite you? If so, we’re looking for you!

You:

• Have pulled recyclables out of the trash
• Are really interested in circular economies
• Appreciate a good debate even with your boss
• Figure out how to fix it instead of who is to blame
• Aren’t afraid to jump in the deep end
• Are excited about building & growing empowered teams

We:

• Believe we do not inherit the earth from our ancestors; we borrow it from our children
• Work to protect and restore the environment
• Aren't afraid to make mistakes as long as we learn
• Care more about your values and intelligence than your experience
• Are committed to creating team dynamics that create empowerment vs. entitlement

Our Core Values:

1. Commit to a culture that builds a strong COMMUNITY
2. Foster CREATIVITY to inspire fresh innovation
3. Embrace COURAGE by taking action despite uncertainty
4. Live with Awareness and CONSCIOUSNESS of our choices

The Opportunity:

Join Open Mind Developments a fast-growing Canadian Mission with a Company committed to creating a waste-free future. Over the last 11 years, Pela has helped over 1 million customers make the switch to more eco-friendly products. We are famous for being the creators of the world's first compostable phone case and are now innovating waste with Lomi, the must-have home smart-waste appliance for anyone who cares about the environment and hates gross garbage.

The Director of Finance will support the CFO and Senior Leadership Team in achieving the organization’s financial goals by taking day-to-day ownership of delivering information that critically impacts the business and influences business decisions through conducting financial analyses to identify risks and opportunities, ensuring accurate and timely production of financial projections, closely monitoring overall performance relative to plan and providing financial insights, supporting all business products, channels and functions to achieve profitable growth.

The Director of Finance will also provide accurate rolling cash flow forecasts, supporting optimal working capital and will be responsible for managing the annual insurance renewal process.

This role requires an individual that thrives in an environment of continuous improvement and collaborative problem-solving. Staying abreast of new ideas and action plans, teamwork and adaptability will be critical to success. Building interactive financial models and providing insightful information across the business brings joy to your heart.

Capabilities: The Director of Finance role demands an individual that has exceptional organizational, communication, interpersonal, coaching, and leadership qualities. This individual is responsible for all aspects of the organization’s financial efficiency and must exhibit the following characteristics:

• Driven, entrepreneurial leader who is comfortable bringing process and organization
• Flexibility and adaptability to thrive in a dynamic business environment and respond effectively to changing priorities.
• Excellent project management and time management skills
• Strong problem-solving and critical-thinking skills
• Effective team leader capable of working cross-functionally
• Proficient in building and maintaining accurate and dynamic financial models for forecasting and analysis.
• Strong analytical skills with the ability to interpret complex financial data and identify relevant trends and insights.
• Exceptional attention to detail to ensure accuracy in financial reporting and analysis.
• Experience in budget preparation, variance analysis, and the ability to create reliable financial forecasts.
• Skill in analyzing costs and identifying opportunities for cost savings and process improvements.
• Effective verbal and written communication skills to convey financial information and insights to non-financial stakeholders.
• Ability to collaborate seamlessly with colleagues across departments to gather necessary information and drive financial initiatives.
• Proficient in using financial software and tools, as well as advanced proficiency in Microsoft Excel and building financial models.
• Willing to extend themselves and help others
• Knowledge of financial reporting standards and the ability to review financial statements with a keen eye.

The Responsibilities:

• Strategic Finance:
• Support the Vision of the CFO and Senior Leadership Team in achieving financial goals.
• Assist with in-depth analysis of financial data to identify trends, risks, and opportunities for strategic planning.
• Assist in the formulation of financial strategies that align with the company's goals and contribute to long-term financial sustainability.
• Review monthly , quarterly and annual financial statements and present financial results together with forecast updates to the CFO.
• Future Focus – Forecasting and Budgeting :
• Maintain a continuously improving monthly rolling 24-month sales, margin, earnings, balance sheet and operating cash flow forecast for distribution to stakeholders according to required frequencies of reporting.
• Manage the annual budget process including preparation of budget timeline and requirements, preparation of budget model incorporating new business activity in the budget Statement of earnings, Balance sheet and cash flow, Capital budgets and departmental budget consolidation.
• Business Partnering:
• Partner with business directors/managers to drive profitable business ideas/decisions, developing interactive financial models to analyze the impact of business ideas/decisions on baseline financial information and business performance.
  • Specifically partner with Sales and Marketing to drive a profitable growth focus by developing and maintaining financial models to analyze profitability by product, product group, channel and retail customers, and support effective product pricing, and incentives.
  • Provide business and financial insights to all business functions and product lines, monitoring and communicating performance to plan and reviewing trends and expectations with managers and leaders.
  • Build ARR and MRR into subscription model and monitor and report on churn activity.
  • Ensure weekly KPI dashboards/reports are provided in time for the weekly Executive meeting.
• Treasury/Cash management
• Maintain a 13- week cashflow forecast and optimize cash on a weekly basis.
• Manage day to day banking operations.
• Optimize bank and credit card payment fees across the organization.
• Tax and contract compliance
• Ensure ongoing compliance with relevant legal requirements, awareness and compliance of all government legislation including changes to tax, CRA requirements, VAT.
• Manage the annual insurance renewal process.
• Technology and continuous improvement:
• Embrace technology and continuous improvement, proactively leveraging systems, data and processes to achieve financial business insights, efficiency and profitable growth.
• Optimize processes with Netsuite to reduce administrative time investment
• Lead a focused effort on gross margin improvement (product, fulfillment, shipping)
• Identify opportunities for cost reduction and process optimization within various financial operations.
• Develop recommendations for improving overall cost-effectiveness and operational efficiency.

Qualifications:

• CPA designation
• Experience working with large ERP and CRM systems (Netsuite preferred)
• Previous role as Director of finance for 5+ years, preferably in a SAAS, ecommerce, consumer goods or manufacturing environment

Commitment to Diversity

Lomi is committed to cultivating and preserving a company culture of diversity, equity, and inclusion. This means we seek out people with diversity of opinion and with strengths that will be complementary to our existing organization. We know that we will grow and learn better with a diverse team. When recruiting for new members of our team, we welcome the unique contributions that you can bring in terms of your education, culture, ethnicity, race, sex, gender identity and expression, age, religion, and sexual orientation.

Compensation range- $125-160k CAD