POSITION SUMMARY: Overall responsibility for all Financial Planning & Analysis, Treasury, Collection Services, Business Controls Solutions and Risk Management (insurance) functions and personnel.
FUNCTIONS OF THE JOB
Essential Functions listed here are representative but not all-inclusive of those commonly associated with this position.
Financial Planning & Analysis:
- Leverage experience and expertise to assess a department issue, propose a plan, and obtain sign off from leadership
- Provide financial analysis perspective and expertise regarding the organization’s strategic issues
- Establish clear goals, objectives, and deadlines and ensure project completion
- Establish, implement, and monitor operational performance metrics
- Proactively lead a team and initiate activities, projects, and issue resolution
- Provide continued leadership, mentoring, and support to direct reports to create / maintain a positive environment / culture and enhance professional development of staff
- Critically review work of staff members and ensure appropriate level of quality
- Provide ongoing constructive feedback and an annual review of direct reports’ performance
- Build and maintain a cross-functional network of BMI colleagues
- Remain apprised of financial and industry developments
- Responsible for the efficient and accurate development of the annual company-wide budget.
- Ensure collaboration with department heads to establish reliable quarterly forecasts and projections.
- Prepare monthly financial reports. Discuss ongoing performance against budget and forecasts with department heads.
- Analyze all major capital investments for return on investment.
- Provide day-to-day expertise and guidance regarding financial planning, monitoring, analysis and performance.
- Responsible for overseeing, directing and timely completion of reliable regular and ad hoc analyses requested by the CFO, Board and other management.
- Proactively seek opportunities to establish metrics / KPI’s and prepare analyses / report for enhancing the management and performance of functional areas across the company.
- Collaborate with department heads to establish effective incentive plans and critically review recommend payouts proposed by department heads for approval.
- General support, assistance and guidance on HR / Benefits matters.
- Active member of the Benefit Plan Investment / Administrative Committee along with the CFO and VP HR.
- Work closely with the actuary and oversee the annual actuary valuation of the Pension and SERP plan.
- Work closely with the independent audit firm and oversee audits and form 5500 filings for the benefit plans.
- Provide oversight / support for retiree medical benefits.
- Facilitate the creation, review and approval of various incentive plans.
- Work closely with the independent investment advisor and CFO to continuously improve the organization’s long-term investment strategy (Corporate investments and Defined Benefit Plan).
- Ensure accurate and timely reporting is in place to monitor and manage investment performance.
- Ensure investment policies are updated annually and we remain 100% in compliance.
- Balance liquid vs. long-term investments ensuring cash flow forecasts are kept current and sufficient liquidity is available to meet regular disbursements and quarterly royalty distributions.
- Negotiate interest rates, select and manage relationships with banks and financial service providers. Complete competitive review of services on a regular basis.
- Implement programs to proactively manage risk and generate income.
- Work closely with the independent investment advisor, CFO and VP of HR to ensure our fiduciary duties for benefit plan investments are met. Ensure a well balanced selection of top performing funds is made available in both the 401k and nonqualified deferred compensation plans. Ensure fees from providers (Merrill Lynch, Newport, etc) are benchmarked periodically and are kept in-line with market.
- Manage FX currency risk by using various hedge options to minimize impact of adverse movements FX rates. [FX hedging program currently on hold.]
- Provide oversight / direction to Accounting resources regarding daily wire transfers.
Business Control Solutions (internal audit/process re-engineering/external audit):
- Provide functional oversight.
- Conduct regular review of collection processes and call center software.
- Monitor performance against benchmarks and ensure year-over-year improvements.
- Establish stretch targets and an effective reward / incentive program to achieve.
- Perform an organizational wide risk assessment and develop an annual BCS plan and execute the plan by performing internal control reviews as well as process re-engineering reviews.
- Utilize benchmarking techniques to identify opportunities for improvement and work with departmental personnel in establishing metrics / KPI’s.
- Develop, implement, and monitor policies, procedures and controls.
- Develop a methodology to identify Licensees who may be under reporting / paying license fees per our contract for selection of performing external audits.
- Work closely with our insurance broker to identify insurable risks and evaluate coverages needed.
- Lead the annual insurance renewal process working with the insurance broker.
- Stay abreast of insurance market developments and new products which may be beneficial to BMI.
Physical/Visual Activities or Demands listed here are commonly associated with the performance functions of this job.
- Directly supervises departmental employees.
- Carries out supervisory responsibilities in accordance with the organization's policies and applicable laws.
- Responsibilities include interviewing, hiring and training employees; planning, assigning, directing and ensuring reliability of work; appraising performance; rewarding and disciplining employees; addressing complaints and resolving problems.
Environmental/Atmospheric Conditions listed here are commonly associated with the functions of this job.
- Sitting, talking, hearing, walking.
- Concentrated mental and visual attention with normal hand-eye coordination.
- Clarity of vision at 20 inches B corrected or uncorrected.
- Generally negligible physical effort, but occasional moving of 1 to 10 lb. items.
Normal office conditions.
POSITION QUALIFICATION REQUIREMENTS
Education : Bachelor’s degree in accounting or finance; MBA strongly preferred.
Experience : Minimum 10 – 15 years experience in finance or accounting management with staff management responsibilities.
Skills and Abilities listed here are representative but not all inclusive of those commonly associated with this position.
Machines, Tools, Equipment and Work Aids: which may be representative but not all inclusive of those commonly associated with this position.
- Mastery of financial software package and Microsoft Office products (Excel, Access, Word, PowerPoint)
- Functional / technical skills
- Attention to detail to ensure accuracy and reliability
- Sense of urgency and manage to meet deadlines
- Ethics and values
- Building effective teams and Motivating others
- Developing direct reports and others
- Delegation and Directing others
- Managing and measuring work
- Organizing and Planning
- Problem solving
- Timely decision making
- Action oriented
- Process management
- Peer relationships
- Self development
- Presentation skills and Written communications
Personal computer and associated software. Normal office equipment.
License(s)/Certifications Required: CPA strongly preferred. Other certifications (e.g. CGMA, CMA, CIA, CISA, etc.) are a plus.
BMI was founded in 1939 by forward-thinkers who wanted to represent songwriters in emerging genres, like jazz, blues and country, and...