CFO

CHIEF FINANCIAL OFFICER (CFO)

Canadian Advanced ESP Inc. (CAESP) is a growing manufacturing, engineering and service solution focused company that provides state of the art Electric Submersible and Surface Horizontal Pumping Systems technology to the global oil and gas industry. The headquarters and main manufacturing, assembly and testing facility is in Edmonton, Alberta. The company has operations in Europe, Middle East and Asia.

As a result of growth and expansion, we need to recruit a Chief Financial Officer (CFO). We are looking for an experienced individual who has high ethical standards, is energetic, strategic/forward thinking, driven to achieve results, has a strong operational focus, and relates well with all levels.

The CFO is responsible for planning and developing the company’s fiscal function and performance;  developing financial and operational strategies and the metrics tied to that strategy;  ongoing development and monitoring of financial control systems;  providing direction and oversight in accounting, financials, forecasting, budgeting, tax, corporate insurance and risk management.

The successful candidate will have:

  • Bachelor’s degree and CA, CGA, CPA or CMA designation;
  • 15 years of progressive financial & accounting management experience;
  • Demonstrated experience with financial reporting, analysis and budgeting within a relatively complex operating environment;
  • Experience with Canadian private entity reporting and tax;  experience developing reporting structures and designing new reports.

Interested applicants may forward a résumé including cover letter to   This e-mail address is being protected from spambots. You need JavaScript enabled to view it .  Please state the position "CFO" in the subject line.

CAESP is committed to employment equity and welcomes diversity in the workplace. We thank all applicants for their interest; however, only those being considered for interviews will be contacted.

SUMMARY OF JOB DESCRIPTION:

1.0          BASIC FUNCTIONS

1.1          Oversees and is accountable for the accounting, financials, forecasting, budgeting, tax, corporate insurance and risk management operations and functions; all in accordance with GAAP, regulations, policies and sound practices.

1.2          Plan, develop, organize, implement, direct and evaluate the organization's fiscal function and performance.

1.3          Develops of a financial and operational strategies and the metrics tied to that strategy.  Develops in conjunction with management the company’s financial goals, objectives and budgets

1.4          Creates and assesses financial statements and budget documents

1.5          Ongoing development and monitoring of financial control systems designed to preserve company assets and report timely accurate financial results.

1.6          Provide technical financial advice and knowledge to others within the financial discipline.

1.7          Develop a reliable cash flow projection process and reporting mechanism which includes minimum cash threshold to meet operating needs.

1.8          This person will be able to manage their time and the time of their direct reports and supervisors.  They will be responsible for the different departments within the finance department.  They will perform corrective actions, performance management    and engagement initiatives to create a motivated and highly effective finance department.

2.0          POSITION REQUIREMENTS

2.1          Education:

2.1.1      A Bachelor’s degree and CA, CGA, CPA or CMA designation.

2.1.2      Master's degree in accounting or business administration is an asset.

2.2          Experience:

2.2.1      15 years of progressive financial accounting management experience

2.2.2      Demonstrated experience with financial reporting, analysis and budgeting within a relatively complex operating environment.

2.2.3      Experience with Canadian private entity reporting and employee tax

2.2.4      Experience developing reporting structures and designing new reports

2.2.5      Experience working independently to create a wealth of value-added, departmental reporting

2.3          Skills:

2.3.1      An energetic, forward-thinking and creative individual with high ethical standards and an appropriate professional image. Sound technical skills, analytical ability, good judgment and strong operational focus. An intelligent and articulate individual who can relate to people at all levels of an organization and possesses excellent communication skills.

2.3.2      Excellent communication skills, both verbal and written

2.3.3      Proficient in MS Office applications, especially in Excel.

2.3.4      Excellent problem-solving, analytical, and numerical abilities are crucial.

2.3.5      SAP skills is a plus

4.0          REPORTING RELATIONSHIPS

The CFO reports directly to the President & CEO

5.0          AUTHORITY

According to actual organization chart and according to the actual table `Delegation of Authority`.

6.0          RESPONSIBILITIES

6.1          Planning:

6.1.1      Assists in formulating the CAESP’s future direction and supporting tactical initiatives

6.1.2      Works closely with CEO and COO to formulate strategic and long-term financial business plans and goals

6.1.3      Monitors and directs the implementation of financial aspects of strategic business plans

6.1.4      Develops financial and tax strategies

6.1.5      Manages the capital request and budgeting processes

6.1.6      Develops performance measures that support CAESP's strategic direction

6.2          Operations:

6.2.1      Participates in key decisions as a member of the executive management team

6.2.2      Maintains in-depth relations with all members of the management team

6.2.3      Manages the accounting, investor relations, tax, and treasury functions

6.2.4      Manages and directs supervisors in A/R, A/P, Order Desk, Payroll and Financial Accounting

6.2.5      Oversees the financial operations of subsidiary companies

6.2.6      Manages any third parties to which functions have been outsourced

6.2.7      Oversees transaction processing systems

6.2.8      Ensures effective establishment and use of SAP system

6.2.9      Implements operational leading practices

6.2.10   Collaborates with HR Manager to ensure employee benefit plans are cost-effective

6.3          Financial Information:

6.3.1      Oversees the issuance of financial information

6.3.2      Personally review and approve all filings with Provincial and Federal authorities

6.3.3      Reports financial results to the Board of Directors

6.3.4      Provides and interprets financial information including cash flows, predicts future trends

6.3.5      Ensures preparation of accurate financial statements and reports to specific deadlines

6.3.6      Conducts reviews and evaluations for cost-reduction opportunities

6.3.7      Ensure underlying accounting records are accurate, complete and in accordance with GAAP.

6.3.8      Review monthly operating reports for accuracy, completeness and major variances between actual and budget results.

6.3.9      Prepare summaries and forecasts for future business growth and general economic outlook.

6.3.10   Develop and monitor policies and procedures within generally accepted accounting principles and corporate guidelines to ensure sufficient cash flow, reduced operating costs, and increased revenues.

6.3.11   Improve profitability.

6.4          Risk Management:

6.4.1      Keeps abreast of changes in financial regulations and legislation.

6.4.2      Understands and mitigates key elements of CAESP's risk profile by developing financial management mechanisms that minimize financial risk

6.4.3      Analyzes competitors and market trends

6.4.4      Monitors all open legal issues involving the company, and legal issues affecting the industry

6.4.5      Constructs and monitors reliable control systems

6.4.6      Maintains appropriate insurance coverage

6.4.7      Ensures that CAESP complies with all legal and regulatory requirements in the countries it operates in.

6.4.8      Ensures that record keeping meets the requirements of auditors and government agencies

6.4.9      Reports risk issues to the audit committee of the Board

6.4.10   Maintains relations with external auditors and investigate their findings and recommendations

6.5          Funding:

6.5.1      Monitors cash balances and cash forecasts

6.5.2      Ensures adequate arrangement for debt and equity financing

6.5.3      Ensures available funds investment

6.5.4      Ensures pension funds investment

6.6          Third Parties:

6.6.1      Maintains banking relationships

6.6.2      Represents the company with investment bankers

6.6.3      Approves monthly bank reconciliations.