Otter Tail Corporation VP of Finance in Clearwater, Minnesota
T.O. Plastics, Inc. (TOP) is a growing plastics thermoforming company. We provide custom plastic forming solutions for some of the world’s top brands. Our 180+ employees work from two facilities located in Clearwater and Otsego Minnesota. We invest in our people, our equipment, and our facilities to offer our customers the best value possible. We are also a wholly owned subsidiary of Otter Tail Corporation, a publicly traded company on NASDAQ (“OTTR”).
Summary: The Vice President of Finance is a key member of the TOP Executive Management team and will assume a strategic role in the overall management and positioning of the profitable growth strategy of the company. The Vice President will serve as the company’s senior financial executive and will be responsible for managing all company finance, accounting, IT, and risk management. This position will play a key role in ensuring that the collective strategies and tactics of the various functions are in alignment to meet our stated business objectives. In addition, the VP of Finance will assure that the finance function of the organization consistently performs its core accounting and reporting duties effectively and efficiently and in accordance with generally accepted accounting principles (GAAP) and Otter Tail internal reporting requirements.
Safety is #1 at TOP: Our expectation is that every employee: 1) strictly follows safety policies, rules and safe work methods. 2) Promptly corrects or reports safety hazards or unsafe conditions. Promptly reports injuries for prompt diagnosis and treatment. 3) Makes regular suggestions for safety process improvements to support continuous improvement in safety.
Provide leadership in the development and achievement of short and long-term strategic objectives.
Provide proactive leadership, guidance, and a solid balance of analytics and judgment as a business partner to the President and other senior executives and the various departments within the organization. This includes, but is not limited to, strategy related to capital expenditures, pricing, customer profitability, competitor analysis, business development, cost management, risk management, etc.
Develop and/or support strategies that will enhance the financial performance of the company.
Oversee, direct, and organize the work of the finance and accounting teams.
Promote a culture of high performance, continuous improvement, learning, and a commitment to quality.
Establish and monitor staff performance and development goals, assign accountabilities, set objectives, establish priorities, conduct timely performance appraisals, and administer salary adjustments.
Directly responsible for the performance of the Accounting/Finance department.
Manage the business by working closely with financial, commercial, and operational leadership to pro-actively evaluate and manage financial risk while helping to drive consistent and effective policies and procedures around all aspects of accounting and finance.
Lead the IT function, coordinating with the VP of IT at Otter Tail. Provide expertise and guidance to solve/improve business process issues.
Responsible for the oversight and preparation of monthly financial statements, annual budgets, and forecasts. Conduct/coordinates monthly and quarterly financial / strategy reviews internally and to the corporate group.
Responsible for oversight of the maintenance of the company’s internal control processes to include a risk assessment, control narratives and control flow charts. Coordinates review and maintenance of the internal control system with process owners.
Responsible for the company’s relationship with Otter Tail Corporation’s internal and external auditors, provides information and documentation required for them to complete their work. Coordinates the efforts of the company’s employees required to meet the external audit requests.
Responsible for effective working relationships with all facets of the Corporate finance department, including external reporting, tax, financial planning and analysis, treasury, insurance, property/casualty, and Operations financial planning and & analysis through Varistar management.
Integrates individual performance and accountability plans into a broader department plan.
Conducts monthly/quarterly department reviews and adjusts strategies accordingly.
Education, Experience and Skills Required:
Must have a Bachelors’ Degree in Business with core focus in Finance or Accounting.
CPA or CMA highly desirable
Minimum 10 years of experience in a financial leadership role, with critical financial management experience gained in a high-growth manufacturing environment.
Must have direct manufacturing experience with a deep working knowledge of cost accounting principle and methods
Comprehensive working knowledge of plant operational metrics and lean manufacturing principles
Experience and history of strong ERP systems leverage for operations efficiency and effectiveness (experience with TMM - The Manufacturing Manager is a plus).
Experience and Skills Required:
Experience and knowledge managing ERP financial and manufacturing cost systems.
Progressive knowledge of accounting and finance principles and the ability to apply them.
Effective communication and presentation skills and the ability to work quickly with strong attention to detail.
Strong computer skills, including Microsoft Word, Excel (pivot tables and charts) and PowerPoint.
Analytical Thinking – identifying and resolving a problem by using a logical, systematic, sequential approach.
Finance/Accounting Specific Competencies:
Responder – Must support the Company’s strategy development by helping business leaders analyze the financial implications of different strategy choices.
Challenger – Act as steward of future value in the strategy process by critically examining the risks to and expected returns on different strategy alternatives.
Leader – This position will be involved with financial and business stewardship with the President of TOP, Varistar and the Otter Tail Corporation CFO. Must be able to motivate employees to meet critical deadlines while maintaining high standards of quality. Must establish a high ethical standard for financial reporting and oversight.
Strategy – This position is a key position in offering strategic insight and must have an in depth knowledge of the entire organization: Sales, Operations, Engineering, Quality, HR, IT, etc. in order to use the resources of the accounting and finance departments to identify strategic opportunities to further the goals of the organization.
Technical Generalist – Must have a strong business generalist background and be able to understand the following: the basics of treasury functions (investments, credit and cash flow forecasting, risk management functions (insurance and business continuity planning), payroll, employee health & welfare plans, 401(k) and IT Systems (enterprise resource planning and business analytics).
Translator – You must be able to translate (communicate) the performance measurements of TOP into a meaningful business format that the CEO and the executive leadership team understands.
Key Business Competencies
Communication - Demonstrate strong written, oral, and interpersonal communication skills.
Approachable Leadership - Interact with individuals at all levels of the organization with a positive, collaborative, and servant leadership approach. Be present in both operations.
People Development – support the site leadership by building the capabilities of all employees.
Problem Solving - use logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions, or approaches to problems.
Lean Manufacturing – helps support the lean manufacturing focus and consistently participates in various continuous improvement projects, including leading a Kaizen event.
Business Acumen – Demonstrates a high level of the business acumen through financial, sales and operations activities of the business.
Physical Demands: 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. While performing the duties of the job, the employee is occasionally required to stand; walk; sit; use hands to finger, handle or feel objects, tools or controls; reach with hands and arms; climb stairs; balance; stoop, kneel, crouch or crawl; talk, hear, or smell. The employee must occasionally lift and/or move up to 40 pounds. Specific vision abilities required by the job include close vision, distance vision, color vision, peripheral vision, depth perception and the ability to adjust focus.
Work Environment: The position has good working conditions but is a diversified job requiring sustained mental effort related to public contacts, organizational and technical issues. The individual may encounter moderate emotional strain or tension. There is sustained exposure to public contact, sitting and computers.