Director of FP&A

About Golden Malted
Headquartered in Glen Mills, Pennsylvania, Golden Malted (New Carbon, LLC) is the largest supplier of waffle irons and waffle mix to the hospitality and foodservice industry. The Company provides a comprehensive turnkey waffle program consisting of mixes, toppings, and flavorings along with waffle iron equipment and related maintenance to over 40,000 customer locations throughout North America. The Company's renowned irons and mixes have been used in leading restaurants, hotels, colleges, and theme parks for over 85 years. As a complete B2B solution provider for the waffle category, the Company enables customers such as hotels, institutions and restaurants the ability to offer their guests a consistently high-quality, delicious product at high margins without the typical obstacles associated with serving waffles. Golden Malted's well-established geographic footprint provides coast to coast coverage in the U.S. and a global distribution partner network that can service customers across the U.S. and in ~45 countries. Golden Malted intends to expand well beyond its current customer base into new markets and channels. Through a strategic expansion of sales, distribution, and support services the company is positioning to penetrate the broader foodservice industry at a rapid rate to significantly accelerate growth. Innovation in formats, mixes, toppings and flavorings will accompany the entrance into new market channels and reinvigorating the existing customer base. Golden Malted employs ~215 associates with a geographically dispersed route delivery team of ~100. Over 80 distribution centers are located across the United States along with a waffle iron manufacturing and refurbishment center in South Bend, Indiana to ensure prompt distribution to all customers.
It is an exciting time to join Golden Malted with the infusion of new resources, new growth, and an emphasis on innovation.
Additional information can be found at https://www.goldenmalted.com/. Golden Malted was purchased by Arbor Investments, LLC in June of 2023. Additional information can be found at https://www.arborpic.com/.
Role Purpose and Accountabilities
Purpose
The Director of FP&A is responsible for all financial planning activity, monthly quarterly and annual forecasts, cash forecasting and customer specific pricing on quarterly and annual basis, all financial ad hoc analysis throughout the business including flux analysis, ROI analysis on investments and Capex projects as well as all other financial support initiatives. This newly created role with report directly to the Chief Financial Officer and will work alongside all business functions to set strategy and further accelerate profitability goals.
Key Accountabilities
Serving as a passionate leader of the financial planning function, the Director of FP&A will quickly and effectively develop best-in-class pricing, forecasting, and analysis support to the growing company. In order to be successful in this role, the Director of FP&A will be highly impactful and effective across the following:
Financial Planning and Analysis Process
• Annual Budgeting:
o Develop comprehensive annual budgets for the company.
o Collaborate with various departments to gather necessary input for budgeting.
• Monthly Tracking:
o Establish a robust system for tracking actual financial performance against budget on a monthly basis.
o Implement effective measures to address any budgetary deviations promptly. • KPI Metrics Tracking:
o Develop and monitor key performance indicators (KPIs) to assess and drive business performance.
o Regularly report on KPI metrics to relevant stakeholders.
• Financial Reporting and Analysis: o Generate detailed financial reports for internal and external stakeholders.
o Conduct in-depth financial analysis to identify trends, opportunities, and areas for improvement.
• Cash Flow Forecasting:
o Develop and maintain accurate cash flow forecasts.
o Implement strategies to optimize cash flow and liquidity.
• FP&A Team Leadership:
o Lead and manage the FP&A team to achieve finance objectives.
o Foster a collaborative and high-performance work environment.
Budget Development and Management
• Operating and Capital Budgets:
o Assist in the development of operating and capital budgets.
o Ensure alignment of budgets with overall business strategy.
• Rolling Forecast Process: o Establish and maintain a rolling forecast process to adapt to changing business conditions.
o Incorporate feedback from various stakeholders in the forecasting process.
Cost Management and Analysis
• Cost Center Oversight:
o Track and manage actual vs. budget for all cost centers.
o Review and report on budget variances, providing insights to close gaps.
• Inventory Management:
o Supervise and analyze inventory transactions.
o Investigate and address inventory discrepancies in a timely manner.
• Operational Cost Audits:
o Conduct operational cost audits, including actual vs. KPI reporting.
o Identify areas for cost efficiencies and process improvements.
• Variable and Fixed Cost Analysis: o Analyze all variable and fixed costs.
o Provide insights to optimize cost structures while maintaining operational effectiveness.
Financial Reporting and Support
• Month-End, Quarterly, and Year-End Closings:
o Assist in month-end, quarterly, and year-end closings.
o Participate in cycle and annual year-end physical inventory counts.
• Capital Projects and Fixed Assets:
o Track and report on capital projects for management review.
o Maintain the fixed asset system and ensure accuracy in reporting.
• Miscellaneous Reporting:
o Support the corporate financial staff with miscellaneous reporting as required.
Customer Pricing
• Pricing Methodologies:
o Develop and implement detailed and systematic customer pricing methodologies. o Conduct pricing evaluations for current and prospective customers.
Reporting Structure
Reports To: Chief Financial Officer
Peer(s): Controller, Senior Controller
Team: FP&A Supervisor, Financial Analyst
Essential Functions and Required Skills/Abilities
Essential Skills ▪ High level of attention to detail. ▪ Exceptional proficiency with the Microsoft Suite, particularly with Microsoft Excel. ▪ Experience with data visualization tools. Tableau, PowerBI experience is a plus. ▪ Able to translate data from an ERP into actionable operational insights. ▪ Capacity to build models from scratch. Possesses presentation capabilities to internal stakeholders. ▪ Organizational skills including the ability to prioritize workload to meet deadlines. ▪ Excellent verbal and written communication skills necessary to persuade and influence decision making of individuals, groups, or work teams, and to explain difficult issues. ▪ Able to work in a fast-paced environment and through ambiguity. ▪ Ability to focus on priorities, making timely decisions, and maximizing empowerment.
Other Attributes Desired o Intelligent - continuous learner, quickly assesses his/her/their environment. o Team-Oriented - collaborates cross-functionally; promotes this collaboration by valuing other and building trust-based relationships. o Data-driven - makes decisions from data, advising management team with metrics. o Entrepreneurial Drive - energized by the functional buildout and ambiguity associated with the role. o Curious - Approaches situations and processes with open-mindedness while applying best practices and new learning. o Problem-solver - inspired, not frustrated by a problem. o Self-starter - is motivated by outcomes and working in small groups/individually. o Educator - able to bring others up to speed on the value the financial planning function can provide. o Passionate - possesses a desire to positively contribute across the organization.
Background Required and/or Preferred
▪ BA/BS or equivalent work experience in accounting, finance, or business
▪ Minimum of 8 years' experience of financial-related experience, with 5+ years of financial experience.
▪ Experience and understanding of foodservice, food manufacturing, manufacturing, hospitality, CPG, or restaurants strongly preferred.
▪ Experience with multi-site service models are also a plus.
Location Candidate will preferably reside near the corporate headquarters in Glen Mills, PA.
Compensation Golden Malted is prepared to offer a compelling compensation package inclusive of a base, performance-based bonus, and benefits.