VP of Finance
Posted by Bote LLC on 11/03/2022
Industry Sector: Lifestyle, Outdoor
Job Categories: Finance
Company Type: Accessories, Apparel/SoftGoods, HardGoods/Equipment, Recreation, Retailer
City: Miramar Beach
Required Experience: 10+ years
Job Type: Senior Level
Required to Relocate: Yes
Required to Travel: Yes
Employee May Telecommute: No
Job Seeker Must Live Within:
Job Description & Requirements
BOTE was founded in Destin, FL by husband and wife team Corey and Magda Cooper, with the purpose of reshaping the standup paddle board industry from what was largely identified as surfing offshoot to a distinct culture built on conceptually simple, aesthetically pleasing and functionally innovative products that would appeal to people from all walks of life. The company has rapidly redefined the industry through the delivery of a distinguished brand built on a distinct mission; “To stand apart through industry-shaping innovation, fresh ideas and simplicity to create a product that defines a lifestyle.”
BOTE is seeking a VP of Finance to be the lead financial growth engineer who will be leading a team of business focused individuals in effort to spearhead savvy financial growth initiatives and sound profits harvesting.
Over a 12-year period BOTE has quickly positioned themselves to be a watersports & lifestyle market leader in product quality, brand reputation, and selling the experience direct to consumer.
BOTE is looking for a highly talented, business focused, data driven, strategic financial leader (and we left out a few more adjectives!) that has a business backbone. Someone who isn’t afraid of taking risks. Looking past the obvious yet not ignoring it. Someone who can ingest our DNA and be consumer-focused and data driven to lead, develop, and implement strategies and initiatives that harvest opportunity to build and deliver our goal of a global connected community of water lifestyle enthusiasts. This role will be working in stride with other executives to define goals, develop a roadmap, and execute with brilliance.
Reporting directly to the President and in effect being the right-hand person, the successful candidate will be responsible for relentlessly elevating the business on all initiatives with hi focus on our direct-to-consumer touch points. They will be the compass for every financial element that will touch multiple verticals of the business The Goal - a seamless experiential brand. The ideal candidate will thrive in a highly entrepreneurial, fast-changing, and collaborative environment within a team that is driven, enthusiastic, and open to taking risks (while hoping the curb occasionally). They will also have a strong business background with a solid foundation in the finance world. We will “Make things people want” instead of “making people want things”.
Your mission will be to Stand Apart with industry shaping innovation, fresh ideas and simplicity to create a brand that defines a lifestyle.
WHAT YOU WILL BE DOING
Business Financial Hero: Reporting to the President, you will build on the vision, champion the big picture and build an eco- system and vibe that prioritizes a brand first, high GM, omnichannel, business that has multiple push pull levers to drive the business. We have a very solid foundation intact – there will be more “passing of the baton” then ground up build.
Strategic Planning: Work with the President on the strategic vision and annual business planning. Fostering and cultivating stakeholder relationships on an internal and external level (Manufacturers, Customers, Peer Brands, Board Members, etc), as well as assisting in the development and negotiation of contracts. Provide the President with an operating budget. Work to ensure programmatic success through cost analysis support, and compliance with all contractual and programmatic requirements.
Data Demanding - Business Savvy: You will use data to facilitate category changing business development and road mapping. Looking to the customer for insights, we will be the feedback machine that amplifies conversion.
Own the Model – Drive to KPIs: We have a robust and financial and analytical business model that is driven by and yields business wide KPIs. You will partner with our operations team to drive our Weekly S&OP meetings and keep the business on the rails of the model. Be intimate with how the annual goals comingle with the budget without neglecting the detail impact of strategic costs that could accumulate from negligence. Develop controls to identify rolling variances from the budget and business model and have levers to facilitate a course correction.
Consumer Driven - Connected Experience: We will be selling the outdoor water lifestyle experience with end-to-end ownership of the consumer journey. You will champion a financial system that delivers direct to consumer product and experience both in D2C and B2B with a seamless factory to door.
Recruit and Develop the best: Manage, grow and develop the team. You will set the standards for operational excellence and structural accountability thru strong leadership and coaching. A team that wants to win each day. Train and lead the Finance and Operation staff on raising awareness and knowledge of financial management matters. You will be the standard for fiscal responsibility and accountability for all departments.
Build for scale – Drive Expansion: You will partner with Digital, Marketing, Sales, and CX Financial teams to deliver a roadmap that’s built for scale. As our share of voice grows in our space, we will strive to create market share that didn’t exist until we built it. We are going global and building a repeatable model.
Supply Chain is under Control: We have an Asian supply chain team that is managed and operated from Asia with a leader that has been with BOTE for 10 years. Most of the operational impact will be downstream from factory. Work with our domestic and Asian production teams to establish best practices for COG management as well creating the production forecasts that align with cash flow, annual budget and goals while balancing the human element of the supplier’s commitments to our business. Budgets and forecasts work from an equation, humans do not.
ENSURE - INSURANCE - CONTROLS
Ensure adequate controls are installed and that substantiating documentation is approved and available such that all purchases may pass independent and governmental audits.
Develop and maintain systems of internal controls to safeguard financial assets of the organization and oversee federal awards and programs.
Oversee the management and coordination of all fiscal reporting activities for the organization including organizational revenue/expense and balance sheet reports, reports to funding agencies, development, and monitoring of organizational and contract/grant budgets.
Oversee all purchasing and payroll activity for staff and participants.
Monitor banking activities of the organization.
Ensure adequate cash flow to meet the organization's Develop consistent reporting that satisfies the company’s line of credit needs, including regular 13-week cash flow forecasts.
Investigate cost-effective benefit plans and other fringe benefits which the organization may offer employees and potential employees with the goal of attracting and retaining qualified individuals.
Oversee the production of daily, weekly and monthly financial and sales reports to both assist the sales teams to their goals while assuring their trajectory.
Oversee weekly and monthly borrowing base reports to be used by banks and funding organizations to monitor business cash flow.
Oversee the production of monthly reports including reconciliations, as well as financial statements and cash flow projections for use by Executive management, as well as the Audit/Finance Committee and Board of Directors.
Assist in the design, implementation, and timely calculations of wage incentives, commissions, and salaries for the staff.
Oversee Accounts Payable and Accounts Receivable and ensure a disaster recovery plan is in place; develop and oversee the on hand and in transit inventory Use all three (A/P, A/R, Inventory) to maintain sound net working capital position.
Oversee business insurance plans and health care coverage analysis.
Oversee the maintenance of the inventory of all fixed assets.
Our brand and business should develop and build community.
Your work will have Velocity – Speed with direction – and you will empower your team to do things at pace others consider impossible.
WHAT WE ARE LOOKING FOR:
Strong experience in leading business with a resume that showcases memorable efforts
10+ Years of leading teams in Consumer space, preferably with significant exposure to Direct-to-Consumer / Ecommerce business models.
Desire to build the Ability to hire and develop the best. Goal to be the best.
Ability to Lead people, develop talent, and coach a team by identify strengths and
Strong bond with the consumer – you enjoy the intricacies of building a financial model from the backbone of the consumer.
Asian Supply Chain experience of at least 5 years
Passionate as F#$K. Decisive as F#$K. And you move with velocity
You will earn the trust of the executive team and your direct team: you will listen and communicate; you are inclusive and you will have a high emotional intelligence.
Self-starter approach to work, with an eagerness to take responsibility and consistently exceed goals
Strong oral, written and verbal communication skills
Ability to manage time, prioritize, meet deadlines and work autonomously
Ability to self-analyze performance and develop actionable plans and recommendations
Positive attitude, professional demeanor, and adaptable to a changing, fast-paced environment
Outdoor industry knowledge, a plus.
About Bote LLC
WHO WE ARE
Our lives have always been surrounded by water. Magda grew up swimming 4-6 hours a day training to become a 3-time collegiate National Champion at Auburn University while I, with much less acclaim, grew up fishing, swimming, skiing, hunting and doing everything I could to be on the water. We love the water so much, that less than a year after college we both decided to move to Destin, FL together. As life goes, we made the move, got married and found great careers.
Destin is not your typical 'Florida' It's a smaller town, more connected to Alabama than Miami and with a 'slower' pace. The local culture has influences from all over, but it definitely has its own style and flavor. Old school charter fishing boats, kayaking, water-skiing, surfing; water is the epicenter of the Destin lifestyle, which fit us perfectly.
We first tried stand up paddling in late 2008 and loved the "idea"…but hated the product; both form and function. All of the boards we tried were the same thing but with a different name. They were all basically giant, unstable, surfboards. It was around that time that I looked at Magda and said, "We can make this better; we can make a board that stands apart."
I wanted a board that was stable enough to fish from, yet paddled efficiently. A board that could hold a cooler for my beer. A board that was simple, fresh and fit our lifestyle. A board that virtually anybody at any age could paddle with ease. It needed the capabilities of a boat with the simplicity of a board. And, it needed to look good...really good.
So…we left our successful careers (Magda was a financial advisor and I was a Mechanical Engineer) and started making our boats, or what we decided to call "BOTE". All we had for funding was a cashed in 401K worth about 7 Grand, a pocket full of credit cards and a shit-ton of hard work ahead of us.
BOTE has become our life. From business to product we live it every second of every day. We call it our second child! We've been lucky enough to be surrounded with people and employees who share in our passion for the product. Many of them have been with us since day one. Luckily there are a lot of other people who also think our boards are great and because of that we've become a nationwide wide brand guided by our mission: "Stand Apart through industry-shaping innovation, fresh ideas and simplicity to create a product that defines a lifestyle."
CEO and Founder