Finance Director

Imi - Palmer, MA

Full-time - Senior

Palmer, MA

Professional, Scientific, and Technical Services

About the position

The Finance Director will be a key member of the executive leadership team at IMI plc, a global specialist engineering company focused on creating breakthrough solutions in fluid and motion control applications. This role is pivotal in setting the strategic direction for the manufacturing site in Palmer, Massachusetts, while leading financial initiatives that drive team performance and growth. The Finance Director will ensure accurate cost management and support strategic business initiatives by providing detailed financial insights and recommendations. In this capacity, the Finance Director will oversee the financial planning, analysis, and reporting activities of the site. This includes implementing financial controls, mentoring the finance team, and influencing operational decisions to achieve optimal financial outcomes. The role requires a collaborative approach, working closely with production and supply chain teams to identify cost-saving opportunities and streamline processes. The Finance Director will also be responsible for developing financial models to assess the impact of various scenarios on manufacturing costs and to forecast cash accurately. The position demands a strong focus on analyzing cost structures, identifying areas for cost reduction, and implementing robust costing methodologies to improve accuracy and visibility of costs. The Finance Director will provide detailed financial analysis and reports to senior management to support strategic decision-making, ensuring compliance with company policies and regulatory requirements. Additionally, the role involves leveraging financial software and ERP systems to automate processes and improve data accuracy, while mentoring and developing the finance team to enhance their skills in cost management and financial analysis.

Responsibilities

• Oversee the preparation and analysis of financial statements, budgets, and forecasts.
• Provide detailed financial analysis and reports to senior management to support strategic decision-making.
• Develop financial modeling to assess the impact of various scenarios on manufacturing costs.
• Develop models to forecast cash accurately.
• Analyze cost structures and identify areas for cost reduction and efficiency improvements.
• Develop and implement robust costing methodologies (e.g., activity-based costing, standard costing) to improve accuracy and visibility of costs.
• Partner with production and supply chain teams to identify cost-saving opportunities and streamline processes.
• Drive working capital reduction in collaboration with commercial and supply chain teams.
• Support operational decision-making through financial analysis and insights, particularly working with operations teams to develop key metrics and financial models as required.
• Influence operational decisions by providing financial insights and recommendations to achieve better financial outcomes.
• Work closely with other departments to implement financial controls and changes, addressing any resistance and ensuring smooth adoption.
• Implement and monitor financial controls to ensure compliance with company policies and regulatory requirements.
• Identify and implement best practices in financial operations to enhance efficiency.
• Leverage financial software and ERP systems to automate processes and improve data accuracy.
• Mentor and develop the finance team, enhancing their skills in cost management and financial analysis.

Requirements

• Bachelor's degree in Finance, Accounting, or a related field; MBA or CPA preferred.
• Expertise in cost management and familiarity with various costing methodologies (activity-based costing, standard costing, etc.).
• Demonstrated experience in mentoring and developing finance teams, with a track record of fostering talent and promoting a culture of continuous improvement.
• Excellent problem-solving skills, with the ability to analyze complex financial data and operational challenges specific to manufacturing.
• Proven experience as director of finance or similar role.
• Ability to define and shape strategy for the short, medium and long term.
• Trusted advisor to the executive team to provide financial expertise and support business planning by providing financial analysis and modelling.

Benefits

• Multiple health plans to choose from: HMO, PPO, and High Deductible Health Plans with a low-cost share.
• Best-in-class 401K plan with zero vesting and up to 6% contribution matching.
• 14-week maternity leave at full pay following one year of service (Adoption benefits are equivalent).
• 4-week paternity leave at full pay following one year of service (Adoption benefits are equivalent).
• Employee Resource Groups that offer community and support, like our Pride Network and Network of Women groups.
• PTO, encompassing inclusive holidays.
• Career Development opportunities (IMI's ‘Catalyst' Program).
• Employer contribution for Health Savings Account, and in many cases free virtual telemedicine, and teletherapy.
• Mental Health and wellness programs to support you and your family.
• Full suite of voluntary benefits to tap into, including but not limited to: Critical illness insurance, hospital indemnity, legal insurance, identity theft protection, and pet insurance or home & auto insurance through our discount advantage platform.
• Short & long-term disability as well as basic life insurance at 2x your basic salary at no cost to the employee.
• Free financial advisors, webinars, and classes through Charles Schwab.
• Annual Employee Stock Purchase Plan with option to purchase IMI shares at a reduced employee only price - no opportunity to lose, only to profit or refund your investment 100%.