CFO (Fractional)

Company: Martin Recruitment Inc.

Job Title: CFO

Type: Part-Time, Fractional

Reports To: President

Location: Edmonton, Hybrid

Environment: A fast-paced, and highly energetic founder-led team: the President, an Office Manager, an Account Manager and recruiters across three divisions. The business is growing and has more client demand than the team can currently deliver. Decisions are made quickly and directly by the President, with very little bureaucracy. There is no finance team to manage. This is a hands-on advisory role working directly with the President and the Office Manager, alongside the external accountant.

Responsibilities:

Cash Flow Management

● Build and maintain a rolling 13-week cash flow forecast, updated weekly, covering permanent fee collections, contractor payroll, overhead and commissions.

● Manage working capital across the contract book, including the gap between weekly contractor payroll and client payment terms.

● Oversee use of the line of credit, deciding when to draw and repay, and keep the firm above an agreed minimum level of cash.

● Work with the Office Manager on receivables, collections and payment timing to protect cash.

Investment Planning

● Model the return and payback on growth investments, including new hires, the contract book, technology and marketing, before money is committed.

● Maintain the multi-year hiring plan, with solid gearing ratios that must be met before each new hire.

● Advise on the use of surplus cash, and on the right mix of debt, retained earnings and owner capital to fund growth.

Understanding the Financials

● Explain monthly financial statements in plain language, covering profit and loss, balance sheet and cash flow.

● Define and track a small set of key financial metrics, such as gross margin by business line, revenue per producer, days sales outstanding, overhead coverage and cash runway.

Financial Reporting Systems and Infrastructure

● Restructure the chart of accounts in QuickBooks so that contractor wages sit in cost of sales and gross margin is reported separately for permanent and contract revenue.

● Set up reporting by division, covering Construction, Accounting and Finance, and Corporate Services.

● Establish a monthly close process and calendar with the Office Manager and the external accountant.

● Build a monthly management reporting package and dashboard, including budget versus actual.

● Put controls around commission calculations, which are tiered, reset each quarter and paid on collected fees.

High-Level Financial Strategy

● Build the annual budget for the fiscal year, and a multi-year financial plan that supports the business plan.

● Advise on pricing and margin strategy for permanent and contract services.

● Manage the banking relationship and line of credit, and prepare the business for future financing needs.

● Coordinate tax and year-end planning with the external accountant throughout the year, not only at year-end.

Software:

● QuickBooks

● Microsoft Excel

Must Have Qualifications:

● Experience as a CFO, or fractional CFO

● Chartered Professional Accountant (CPA) designation

● Experience building cash flow forecasts and managing working capital

● Experience building financial reporting systems

● Experience with budgeting, financial modelling and scenario planning

● Experience managing banking relationships and credit facilities

● Experience with QuickBooks

Like To Have Qualifications:

● Experience in a professional services business, staffing or recruitment preferred

● Experience designing complex commission and incentive plans

● Experience supporting a business through rapid growth