Job TITE: Controller
Reports To: Chief Financial Officer
Supervises: Accounting Department
Summary: Controller will be responsible for annual financial statement audit, all tax functions, the monthly close process, financial reporting, assisting the FP&A team with the budget process, cash management, monitoring and controlling disbursements, monitoring the Company’s internal controls, along with various other responsibilities.
Essential Duties and Responsibilities:
· Work closely with the departmental controllers in FP&A, operations and management to design and implement a best in class close process.
· Ensure the monthly close process is supported by a well thought out schedule and set of checklists, that assigns responsibilities and deadlines to all the parties involved.
· Communicate the close schedule to all the parties (inside and outside of accounting) and hold them accountable to complete their tasks on time. In addition, ensure that the submittals receive adequate review.
· Ensure all balance sheet accounts are reviewed and reconciled on a monthly basis.
· Perform a thorough review of all the GL accounts and month end financials to ensure any unusual balances or trends are identified, investigated and remedied.
· Work closely with the FP&A team to design and implement an efficient synergistic close process.
· Each month, poll management, review executed contracts, and the monthly operational activities to ensure any large or unusual transactions are identified and adequately accounted for.
· Work closely with management to review, update and re-launch the accounting policies, protocols and procedures to ensure the organization is adequately educated and trained to support the close process.
· Ensure processes and procedures to ensure that invoices are properly coded are followed.
· Periodically review the chart of accounts to ensure that it is logical, user friendly, transparent and ultimately supports management, the FP&A team in their pursuit of effectively managing and monitoring the business.
· Ensure the month end close and financials are completed within the agreed upon timeframe.
· Work closely with the Executive Management and FP&A to ensure the monthly financials integrate into the BOD’s various reporting packages (annual, monthly, BOD meetings).
· Work closely with the executive team and BOD to ensure the design and presentation of the monthly financials are consistent with and support the way they want to monitor and value the Company.
Audited Financial Statements
· Work closely with the auditor and key internal resources to schedule, prepare for and execute on the annual GAAP audit.
· Plan and prepare the audit to ensure it minimizes the audit fees and disruption.
· Prepare and provide a best in class audit binder to facilitate the audit and reduce cost.
· Proactively control and liaison with the auditors interaction with the organization’s personnel to ensure audit requests are efficient and fulfilled in a timely fashion.
· Ensure that the monthly close accounting practices are sufficient to avoid/minimize material year end audit adjustment.
· To help avoid year end audit adjustments, prudently consult the auditors throughout the year to ensure any critical or unusual transactions/activities are recorded in accordance with GAAP.
· Responsible to ensure the audit is finished on-time and on budget.
· Work closely with the CFO and the Company’s private equity sponsor to ensure the accounting treatment for key business decisions/transactions considers, supports and is in alignment with the organization’s key earnings and value creation objectives.
· Assists the FP&A group and management in the creation, completion and ongoing monitoring of the company’s annual budget.
· Attend monthly budget variance meetings to assist in identifying, investigating, explaining and ultimately resolving budget variance issues.
· Support the budget process by adjusting/maintaining the GL structure and ensuring expenses are coded to the proper accounts.
· Work closely with the CFO to monitor liquidity/borrowings to meet the operational needs of Company while working to simultaneously improve the Company’s credit rating.
· Review and enhance existing cash monitoring tools and processes.
· Manage the Company’s day to day relationship with the bank.
· Work closely with the Management Team to ensure that critical vendors are paid in a timely fashion.
· Work closely with the Management Team to obtain terms from COD vendors and more favorable terms from existing vendors.
· Work closely with the rest of the finance group to review the Company’s existing internal controls with the purpose of redesigning and re-implementing them. Work closely with all levels of management to ensure optimum buy in.
· Special attention should be given to the following areas:
o Credit card statements
o Expense Reports
o The pilot payroll process
o Ensuring contracts and purchases have been adequately negotiated
o Inventory and small equipment
Tax Returns (Federal, State, Local & all other)
· Work closely with the Company’s tax firm and key internal resources to schedule, prepare for and execute on the annual state and federal tax returns.
· Plan and prepare for the preparation of the returns in such a way that minimizes the audit fees and maximizes the tax benefit realized by the Company.
· In general, respond to IRS and/or other government agency information requests of an accounting or financial nature.
· Coordinate and work closely with the organization to ensure the timely and accurate completion of all the Company’s other tax returns/issues, including but not limited to the following; state sales taxes, tangible and intangible taxes, fuel taxes, property taxes and personal property taxes.
· Seek to automate and/or improve existing processes throughout the organization.
· Backup the Field Controller Position
Qualifications: To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
o A minimum of ten years accounting experience in the scheduled airline industry.
- Education: Bachelor’s degree (B.A.) in Accounting from four-year college or university.
o Solid understanding of the year end audit process.
o Solid understanding of the month end close process.
o Solid understanding of the financial reporting process.
o Solid understanding of the cash management process.
o Solid understanding of ERP systems.
o Strong working knowledge of GAAP.
o Experience in parts inventory management a plus.
· Certificates/Licenses: CPA strongly preferred. MBA a plus.
- Computer Skills: Must be proficient in Microsoft Office (i.e. Excel, Outlook, and Word). Should have a good working knowledge of ERP systems.
Competency: To perform the job successfully, an individual should demonstrate the following competencies:
· Analytical - Synthesizes complex or diverse information; Collects and researches data.
· Problem Solving - Gathers and analyzes information skillfully; Works well in group problem solving situations.
· Customer Service - Responds to requests for service and assistance; Meets commitments.
· Oral Communication - Listens and gets clarification; Responds well to questions; Participates in meetings.
· Written Communication - Writes clearly and informatively; Presents numerical data effectively; Able to read and interpret written information.
· Business Acumen - Understands business implications of decisions; Displays orientation to profitability; Aligns work with strategic goals.
· Cost Consciousness - Works within approved budget; Develops and implements cost saving measures; Contributes to profits and revenue; Conserves organizational resources.
· Ethics - Treats people with respect; Keeps commitments; inspires the trust of others; Works with integrity and ethically; Upholds organizational values.
· Strategic Thinking - Develops strategies to achieve organizational goals; Understands organization's strengths & weaknesses; Analyzes market and competition; Identifies external threats and opportunities; Adapts strategy to changing conditions.
· Adaptability - Adapts to changes in the work environment; Manages competing demands; Changes approach or method to best fit the situation; Able to deal with frequent change, delays, or unexpected events.
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