New Opportunity: Chief Financial Officer at PacStar

About the Company

PacStar is a fast paced, high performance technology organization that has built its reputation and success on delivering quality products, outstanding customer service, teamwork, ethical dealing, respect for others, and meeting commitments.

Founded in 2000, PacStar provides advanced, Commercial Off-the-Shelf (COTS)-based tactical communications small form factor hardware, software, and integrated solutions that address critical U.S. DoD needs for mobility, ease of use, and security. The company’s patented IQ-Core® Software and hardware technology and integration/installation services provide secure, command, control and communications systems – particularly in remote or infrastructure starved areas. In addition, PacStar’s unified and tactical network communications systems are ideally suited for commercial sector organizations with mission-critical, complex communications requirements.

Headquartered in Portland, Oregon, PacStar with its 90+ and growing employee base performs the product and software development, and assembly of finished products.  In 2018, Endeavour Capital, made a significant investment into PacStar based on its experienced and committed management team, its strategic position in its industry, and the positive trends that will drive accelerated growth.

Summary

As a key member of the executive team and reporting to the CEO, the Chief Financial Officer (CFO) will assume a strategic role in the overall management of the company. The CFO will proactively engage in all areas of the Company, to bring data and insights, and importantly serve as a key business partner to the CEO and other Senior Leadership. This leader will have primary day-to-day responsibility for planning, implementing, managing and controlling all financial-related activities of the company. This will include direct responsibility for accounting, finance, treasury, legal and compliance.

Key Responsibilities

Assist the CEO and management team in achieving the company’s growth and profitability targets:
  • Serve as a business partner across functional areas to inform key decisions.
  • Exceed profitability targets through operational excellence and growth in new markets.
  • Support pricing, purchasing, and other key initiatives to enhance margins.
Provide reliable forecasting and business intelligence that fuels effective decision-making:
  • Plan, develop, organize, implement, direct, and evaluate the organization’s fiscal function including capital expenditures, working capital, cash projection, and cash management.
  • Develop a reliable financial and cash flow projection process and reporting mechanism that includes minimum cash thresholds and working capital targets to meet operating needs of the company.
  • Develop a robust rolling forecast based on existing business and sales pipeline.
  • Quickly develop an understanding of the nuances of government contracting and buying behaviors.
  • Develop analysis to evaluate entry into new products / markets.
  • Proactively identify abnormalities between the company’s financial and operational results and determine their root causes.  Coach team members on how to correct those issues and “bridge” back to plan.
Exercise good financial management practices and accountability:
  • Provide timely and accurate analysis of budgets and financial reports that will assist the CEO, the board, and other senior managers in managing their responsibilities.
  • Run a proactive and efficient budget cycle, helping the company tie its investment thesis to its strategy, operational KPIs, and financial forecasts.  Earn board approval for the budget well ahead of the new fiscal year.
  • Make those KPIs (e.g., inventory levels) the centerpiece of the company’s performance planning and dashboards.  Hold peers accountable.
  • Prepare financial statements and analyses for the monthly report. Provide timely board financial reporting packages and communications.
  • Manages, mentors, and develops the accounting and finance teams to grow professionally and provide the organization value-add financial information.
Mature the company’s data systems and processes for scale:
  • Identify the data needs required to drive good decision-making and build a roadmap to more efficiently collection and mining of that data.
  • Must have the ability to analyze and understand detailed processes, define new and improved processes and lead implementation of those solutions, resulting in more and complete information, taking less time to generate while maintaining proper internal controls.
  • Make high ROI investments based on the needs of the business.  Automate where possible, but avoid buying the “next generations of IT systems and platforms” unless there is a clear business case that supports that level of investment.
  • Effectively coordinate with the IT team to ensure efficient, effective delivery of IT upgrades and operation thereof.
Lead the company’s compliance function with a proactive and business approach, and standardize into business practices:
  • Quickly learn the nuances of DoD and federal government regulations, contracting, reporting and compliance requirements.
  • Learn, understand and become the company’s internal expert on US government export regulations as they apply to the company’s products.
  • Translate those regulations into the company’s standard business practices.  Ensure company members are effectively trained on compliance issues.
  • Ensure that effective internal controls are in place for compliance with GAAP and applicable federal, state, and local regulatory laws and rules for financial and tax reporting.
  • Lead the company’s compliance auditing program.  Proactively identify and resolve potential compliance issues before they manifest.
Effectively represent the company with external stakeholders:
  • Effectively manage the company’s treasury functions and communications with banks and lending institutions.
  • Responsible for company’s tax functions and communications with outside accountants for tax preparation.
  • Oversee the review, negotiation, and administration of contracts utilizing outside legal counsel as needed.
  • Effectively assist the CEO in telling the company’s story in terms of the strategy, infrastructure in place, and opportunities for growth.

Desired Qualification, Skills & Experience

  • Bachelor’s degree (MA/MBA preferred) in Accounting or Finance.
  • Public Accounting experience & CPA preferred.
  • 10+ years of progressively responsible finance/accounting experience in a high growth manufacturing/technology organization.
  • Experience and know-how for scaling a rapidly growing organization, and anticipating staffing, infrastructural and procedural requirements for a much larger business.
  • Ability to deliver board-level financial presentations that accurately summarize business for investors, bankers and vendors.
  • Prior experience with a private equity-owned portfolio company or experience in leading a company through a successful exit is highly desirable.
  • Experience with credit facilities and credit agreements and strong lender communication skills.
  • High level of integrity and dependability with a strong sense of urgency and results orientation.
  • Team player who is comfortable with change and embraces forward movement.
  • Strong initiator, but also collaborative, with a desire to understand the business as a whole.
  • Unquestionable personal code of ethics, integrity, diversity and trust.
  • Strong written and verbal communication skills.
  • Accuracy and attention to detail is a must.
  • Must be able to self-organize workloads and manage all deadlines.

Ready to Apply?

180one is a retained search firm and has been engaged by PacStar to manage this search. If interested in learning more about the opportunity, please contact Christine Kennedy at 180one.