Director, Finance

Job Title: Director, Finance

Department: Finance

Reports To: Director of Finance and Global Financial Reporting

FLSA Status: Exempt

Location: Nashville, TN (hybrid)

ABOUT THE COMPANY: SVP Worldwide, doing business through SVP-Singer Holdings, Inc. and its affiliates, is the world’s largest consumer sewing machine company, accounting for approximately one out of every three household sewing machines sold annually across the globe. The company and its three iconic brands - SINGER®, VIKING®, and PFAFF® - have delighted consumers for over 460 years. These premium brands and products are regarded as the choice for serious sewists and novice crafters.

The company’s corporate headquarters is located in Nashville, TN, and supported by regional headquarters/sales offices located in Milan (Italy), and Mexico City (Mexico) that, combined, reach consumers in more than 180 countries. SVP has manufacturing facilities across Asia and Latin America, multiple R&D centers, a software development center in Europe, and a global supply chain with distribution centers in all regions.

SVP Worldwide has a history of innovation and has established a leading offering in the Internet-of-Things (IoT) segment by introducing mySewnet®, the industry’s first cloud-based operating system. Its product portfolio covers entry-level sewing machines all the way up to advanced, internet-connected, leading-edge household sewing machines that retail for $18,999 and all segments in-between. In addition to sewing machines, the product portfolio includes sewing accessories, notions, garment care products as well as software.

The products are sold across a network of sewing machine dealers, mass retailers (e.g., Costco, Walmart, Lidl, MediaMarkt, Carrefour), specialty retailers (e.g., Joann, Michaels), online retailers (e.g., Amazon, Tmall), distributors, and through the company’s 180 internally operated retail stores.

ABOUT THE POSITION: Assists VP of Finance/Corporate Controller with financial activities of the organization by performing the following duties.

Essential functions and key responsibilities are:

• Manages a team and has direct people leadership responsibilities

• Prepare elimination entries each month after location results are submitted.

• Manage the monthly close process and provide measures to condense the monthly close cycle

• Assist in NA, Corporate, Logistics and Sourcing month end close including but not limited to:

• Reviewing/Approving journal entries

• Reviewing reconciliations

• Preparing journal entries

• GL Detail research

• S&A Review

• JDE research/corrections/maintenance

• Catalyst maintenance and training

• Anaplan reporting

• Research accounting issues and prepare position papers.

• Prepare consolidated financial statements and write related footnotes for annual report.

• Lead annual external audit of the company's accounts including preparation of the cash flow statement

• Interact with external auditor and manage the year-end audit to ensure that the financial statements get issued no later than March 31.

• Prepare monthly standard report including cash flow statement.

• Work with SVP’s global financial reporting teams to improve current processes

• Prepare statutory accounts for certain international entities

• Maintain purchase accounting records

• Research new processes for proper accounting treatment

• Become one of the accounting super users for EBM Catalyst software

• Participate on cross functional teams to develop processes and solve issues

• Work with SVP’s global financial reporting teams to improve current processes

• Special projects

• Prepare Ad hoc reporting as required.

QUALIFICATIONS/REQUIREMENTS:

• Minimum 7 to 10 years of relevant financial reporting and process improvement experience.

• Mix of industry and public accounting background preferred.

• Strong knowledge of GAAP and financial reporting technical skills.

• Experience in a multinational company and/or a consumer products company preferred.

• Recent JDE experience a plus.

Skills/personal qualifications-

• Must possess a strong ability to meet stringent deadlines with little to no follow up from management

• Ability to prioritize work

• Ability to pay close attention to detail

• Ability to work both independently as well as in a team environment

• Ability to communicate with all levels of the organization

• Ability to interact with local controllers and explain generally accepted accounting principles to them.

• Exceptional intellectual and analytical curiosity with proven capability to strategically problem-solve using advanced qualitative analytical skills

• Experience leading cross-functional teams

• Exceptional work ethic

• Ability to communicate complex ideas effectively – both verbally and in writing

Education and Certifications-

• Bachelor's (B. S.) degree in Business Administration with a major in Accounting

• Master’s degree preferred.

• CPA or CMA designation preferred.

WORK ENVIRONMENT: Works in a typical office environment.

PHYSICAL REQUIREMENTS: The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

• Must be able to communicate effectively with employees through multiple forms of technology with telephone and computer. Must be able to receive and convey information.

THE INDUSTRY

The sewing machine industry is a global industry that is experiencing renewed growth. In developed markets, growth rates are projected to outpace GDP growth, according to Global Industry Analysts, Inc., the leading industry data source. Growth in these markets is driven by the millennial generation that is increasingly attracted to personalization, crafts, and self-expression. In developing markets, the industry is expected to grow at 4% annually, fueled by the emerging middle class and the “need to sew” segment that uses sewing machines to support the household.

THE FUTURE

In 2021, SVP Worldwide was acquired by Platinum Equity (www.platinumequity.com), a global investment firm with more than $25 billion of assets under management and a portfolio of approximately 50 operating companies that serve customers around the world. Platinum Equity has committed to fully support SVP’s continued growth and to bring additional financial and operational resources to bear to help accelerate the company’s efforts.