VP of Finance & IT
Apply NowCompany: Steel Partners
Location: Menomonee Falls, WI 53051
Description:
Job Description
Since our founding in 1982, MTE Corporation has become a recognized leader in power quality solutions. We pioneered innovative technologies like AC reactors and passive filters by combining the expertise of Milwaukee Transformer Co., Transformer Design Inc., and Milwaukee Electronics Corp.. Our acquisition of TEAL Electronics in 2016 has further enhanced our offerings, enabling us to provide industry-leading power quality and conditioning solutions..
With more than 100 years of combined experience in design and operations, our team utilizes cutting-edge tools and technology to ensure that new designs and products meet the latest compliance standards and our customers' needswhile improving their bottom line. At MTE, we know power quality because power quality is all we do.
At MTE, we believe in people, quality, customers, and teamwork. We invest in our employees' growth, maintain high standards of product excellence, and work closely with our customers to exceed expectations. Collaboration and innovation drive us forward, making MTE a place where you can thrive. Join us - a 2024 Top Places to Work award winner - and be part of a value-driven team!
MTE Purpose: We maximize our customers' productivity by enabling more resilient and sustainable systems through power quality innovation
MTE Values:
Teamwork
We cultivate an atmosphere where people can learn, grow, and have fun.
We create an inclusive environment where employees can bring their whole selves to work.
We build on each other's strengths and succeed by working together.
Respect
We respect our customers, employees, and the environment.
We value diversity, equity, and inclusion.
We adopt a safety-first mindset with no compromises.
Integrity
We believe in acting ethically and honestly always.
We conduct ourselves transparently with our customers and employees.
We take measured risks and manage consequences to create success.
Commitment
We honor our commitments and are accountable for our actions.
We enable an environment that celebrates bold ideas and continuous improvement.
We are agile and respond quickly to our customers through innovative products and services.
OVERVIEW:
Under the direction of and reporting to the company President, the Vice President of Finance and IT directs company financial, accounting, and information technology practices and is a strategic growth partner to the senior leadership team. The VP of Finance is expected to understand market trends, customer dynamics, products, and factory financials to help the President and the leadership team grow the business.
KEY Responsibilities:
Financial Management:
Lead preparation of annual operating plan and 5-year strategic plan financials
Preparation of monthly financial forecasts
Preparation of various financial models and forecasts
Manage overall cash flow with emphasis on Accounts Receivable, Inventory, Accounts Payable and Capex
Development of MTE's overall financial management strategy and contribution to theoverall strategic plan
Financial Analysis and Reporting
Preparation and analysis of monthly financial statements to the senior leadership team and Steel Partners
Preparation of Monthly Operating Reports (MOR)
Preparation of quarterly financial reports for Steel Partners
Compliance:
Ensure accounting and IT compliance with Steel Partners internal and external auditors
Support quarterly and annual financial and IT audits and requests for documentation
Ensure compliance with US federal and state reporting requirements and tax filings
Ensure compliance with Mexico Government reporting and tax filing requirements
Ensure compliance with US and Mexico customs requirements and agency filings
Risk Management:
Assess MTE's overall financial risk and develop strategies to mitigate (FX, commodity costs, inflation, theft, etc.)
Ensure anadequate level of business insurance coverage while minimizing thecost
Information Systems:
Responsible for the design, development, and implementation of MTE's information system (software applications, infrastructure system, and IT support)
Manage IT budget and overall investment in IT systems
Requirements
EDUCATION/EXPERIENCE/QUALIFICATIONS:
Education/Certifications
Bachelor's degree in finance/accounting
CPA/MBA degree ishighly preferred
Experience
Fifteen years of general financial management experience in amanufacturing environment including financial and cost accounting, financial analysis, planning and budgeting, cash and risk management, tax reporting, and IT management experience
Experience with the Maquiladora structure and financial regulations associated with operations in Mexico.
Qualifications
To perform this job successfully, an individual must be able to satisfactorily perform each essential duty. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodation may be made to enable individuals with disabilities to perform essential functions.
GOALS, BEHAVIORAL ATTRIBUTES, KSA (KNOWLEDGE/SKILLS/ABILITIES):
Finance
Business Insight - Applying knowledge of business and the marketplace to advance the organization's goals.
Manages Complexity - Making sense of complex, high quantity and sometimes contradictory information to effectively solve problems.
Drives Results - Consistently achieving results, even under tough circumstances.
Ensures Accountability - Holding self and others accountable to meet commitments.
Instills Trust - Gaining the confidence and trust of others through honesty, integrity, and authenticity.
IT
Decision Quality - Making good and timely decisions that keep the organization moving forward.
Plans Aligns - Planning and prioritizing work to meet commitments aligned with organizational goals.
Collaborates - Building partnerships and working collaboratively with others to meet shared objectives.
Senior Leader, Vice President, Executive
Courage - Stepping up to address difficult issues, saying what needs to be said.
Cultivates Innovation - Creating new and better ways for the organization to be successful.
Drives Vision Purpose - Painting a compelling picture of the vision and strategy that motivates others to action.
MTE is an operating company within the Diversified Industrial Segment of Steel Partners Holdings L.P. (NYSE:SPLP). Steel Partners is a diversified holding company that engages in multiple businesses through consolidated subsidiaries, associated companies and other interests. The Company owns and operates businesses, and has investments in companies, in various industries, including diversified industrial products, energy, defense, supply chain management and logistics, banking and youth sports.
Since our founding in 1982, MTE Corporation has become a recognized leader in power quality solutions. We pioneered innovative technologies like AC reactors and passive filters by combining the expertise of Milwaukee Transformer Co., Transformer Design Inc., and Milwaukee Electronics Corp.. Our acquisition of TEAL Electronics in 2016 has further enhanced our offerings, enabling us to provide industry-leading power quality and conditioning solutions..
With more than 100 years of combined experience in design and operations, our team utilizes cutting-edge tools and technology to ensure that new designs and products meet the latest compliance standards and our customers' needswhile improving their bottom line. At MTE, we know power quality because power quality is all we do.
At MTE, we believe in people, quality, customers, and teamwork. We invest in our employees' growth, maintain high standards of product excellence, and work closely with our customers to exceed expectations. Collaboration and innovation drive us forward, making MTE a place where you can thrive. Join us - a 2024 Top Places to Work award winner - and be part of a value-driven team!
MTE Purpose: We maximize our customers' productivity by enabling more resilient and sustainable systems through power quality innovation
MTE Values:
Teamwork
We cultivate an atmosphere where people can learn, grow, and have fun.
We create an inclusive environment where employees can bring their whole selves to work.
We build on each other's strengths and succeed by working together.
Respect
We respect our customers, employees, and the environment.
We value diversity, equity, and inclusion.
We adopt a safety-first mindset with no compromises.
Integrity
We believe in acting ethically and honestly always.
We conduct ourselves transparently with our customers and employees.
We take measured risks and manage consequences to create success.
Commitment
We honor our commitments and are accountable for our actions.
We enable an environment that celebrates bold ideas and continuous improvement.
We are agile and respond quickly to our customers through innovative products and services.
OVERVIEW:
Under the direction of and reporting to the company President, the Vice President of Finance and IT directs company financial, accounting, and information technology practices and is a strategic growth partner to the senior leadership team. The VP of Finance is expected to understand market trends, customer dynamics, products, and factory financials to help the President and the leadership team grow the business.
KEY Responsibilities:
Financial Management:
Lead preparation of annual operating plan and 5-year strategic plan financials
Preparation of monthly financial forecasts
Preparation of various financial models and forecasts
Manage overall cash flow with emphasis on Accounts Receivable, Inventory, Accounts Payable and Capex
Development of MTE's overall financial management strategy and contribution to theoverall strategic plan
Financial Analysis and Reporting
Preparation and analysis of monthly financial statements to the senior leadership team and Steel Partners
Preparation of Monthly Operating Reports (MOR)
Preparation of quarterly financial reports for Steel Partners
Compliance:
Ensure accounting and IT compliance with Steel Partners internal and external auditors
Support quarterly and annual financial and IT audits and requests for documentation
Ensure compliance with US federal and state reporting requirements and tax filings
Ensure compliance with Mexico Government reporting and tax filing requirements
Ensure compliance with US and Mexico customs requirements and agency filings
Risk Management:
Assess MTE's overall financial risk and develop strategies to mitigate (FX, commodity costs, inflation, theft, etc.)
Ensure anadequate level of business insurance coverage while minimizing thecost
Information Systems:
Responsible for the design, development, and implementation of MTE's information system (software applications, infrastructure system, and IT support)
Manage IT budget and overall investment in IT systems
Requirements
EDUCATION/EXPERIENCE/QUALIFICATIONS:
Education/Certifications
Bachelor's degree in finance/accounting
CPA/MBA degree ishighly preferred
Experience
Fifteen years of general financial management experience in amanufacturing environment including financial and cost accounting, financial analysis, planning and budgeting, cash and risk management, tax reporting, and IT management experience
Experience with the Maquiladora structure and financial regulations associated with operations in Mexico.
Qualifications
To perform this job successfully, an individual must be able to satisfactorily perform each essential duty. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodation may be made to enable individuals with disabilities to perform essential functions.
GOALS, BEHAVIORAL ATTRIBUTES, KSA (KNOWLEDGE/SKILLS/ABILITIES):
Finance
Business Insight - Applying knowledge of business and the marketplace to advance the organization's goals.
Manages Complexity - Making sense of complex, high quantity and sometimes contradictory information to effectively solve problems.
Drives Results - Consistently achieving results, even under tough circumstances.
Ensures Accountability - Holding self and others accountable to meet commitments.
Instills Trust - Gaining the confidence and trust of others through honesty, integrity, and authenticity.
IT
Decision Quality - Making good and timely decisions that keep the organization moving forward.
Plans Aligns - Planning and prioritizing work to meet commitments aligned with organizational goals.
Collaborates - Building partnerships and working collaboratively with others to meet shared objectives.
Senior Leader, Vice President, Executive
Courage - Stepping up to address difficult issues, saying what needs to be said.
Cultivates Innovation - Creating new and better ways for the organization to be successful.
Drives Vision Purpose - Painting a compelling picture of the vision and strategy that motivates others to action.
MTE is an operating company within the Diversified Industrial Segment of Steel Partners Holdings L.P. (NYSE:SPLP). Steel Partners is a diversified holding company that engages in multiple businesses through consolidated subsidiaries, associated companies and other interests. The Company owns and operates businesses, and has investments in companies, in various industries, including diversified industrial products, energy, defense, supply chain management and logistics, banking and youth sports.