Director of Finance & Tax Search & Selection 2015
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OUR CLIENT From its beginnings in 1946 as a struggling cooperative with eight members- all owners of their own individual grocery stores, Wakefern Food Corp. has grown to become the largest retailer-owned cooperative in the United States. Today the cooperative is comprised of 50 members who individually own and operate more than 320 supermarkets under the ShopRite, PriceRite, and Fresh Grocer banners in nine states along the East Coast, including New Jersey, New York, Connecticut, Massachusetts, Rhode Island, Pennsylvania, Maryland, Delaware and Virginia. As the merchandising and distribution arm of ShopRite, PriceRite, and Fresh Grocer, Wakefern, together with its member companies, employs more than 70,000 people, making it one of the largest employers in New Jersey. Wakefern also participates in a buying consortium with two other leading wholesalers bringing products to other supermarkets throughout the northeastern United States, Ohio, and Bermuda.
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Built upon a foundation of independent retailers who are entrepreneurs at heart, Wakefern’s strength lies within the partnership between its retail members and its professional staff. The company buys, warehouses, merchandises and transports products for ShopRite stores and provides countless additional support services to ensure customer satisfaction. The company uniquely meets the wholesale needs of the retail customers it serves, and its wholesale and member base benefit through its extensive portfolio of services it offers including: • • • • • •
innovative technology private label development best-in-class procurement practices advertising support category management financial support and services
marketing retail store development engineering media and PR data analytics /consumer insight knowledge of best practices
By focusing on providing these tools and resources, this collective partnership provides a significant competitive advantage in the marketplace.
With ShopRite stores having some of the highest volume stores in the supermarket industry today, Wakefern achieved record sales in 2014, and is well-positioned for continued growth and expansion.
Director of Finance & Tax Opportunity Wakefern is a highly successful and innovative $15 billion supermarket wholesale and retail organization. Headquartered in Keasbey, New Jersey, Wakefern operates over 2.5 million square feet of grocery and non-food warehousing. The company received “Retailer of the Year”, Retail and Technology Excellence Awards and was named a “Top Ten Best Places to Work”. As a highly respected community partner, Wakefern has a legacy of commitment to the community that spans its 68 years in operation.
Wakefern is seeking a top level financial professional to join the company as Director of Finance & Tax. his is a unique opportunity to join an exciting and innovative wholesale/retail supermarket company that:
1) continues to be successful in a highly competitive environment through its commitment to their family-owned business structure and ability to focus on its customers;
2) is led by a senior leadership team that is highly regarded and recognized in the industry; 3) maintains a collegial and family-style culture while operating in an intense, and demanding marketplace and upholding its reputation as the low-price leader offering unprecedented variety and customer service to over 5 million customers each week.
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Scope of Accountabilities The Director of Finance & Tax will report directly to the Chief Financial Officer, be an integral member of the Finance Leadership Team, and have responsibilities for managing and directing the Company’s external financial reporting and corporate tax functions, including the preparation of consolidated financial statements, and tax returns.
This individual will provide leadership to the finance and accounting group and oversee and direct the monthly accounting reporting processes. The Director of Finance & Tax will work closely with the CFO and the executive leadership team in managing and improving financial reporting, consolidations, tax functions , and related systems and processes of the company. As a member of the leadership team, will develop, refine and deliver the finance, accounting, and tax strategies, while keeping abreast of FASB, GAAP and tax related pronouncements and regulations.
Specific responsibilities will include: Working directly with the CFO and the company’s executive leadership team, will prepare and deliver the company’s financial statements, quarterly and year end consolidations of multiple entities, as well as coordinate the annual audit with outside auditors and prepare annual reports;
Be directly accountable and responsible for the preparation and review and filing of the corporate income tax returns, sales/use tax and payroll tax returns. Ensure tax reporting and compliance and manage tax planning strategies; Maximize the effectiveness and timeliness of financial reporting, and integrity of financial information, delivering real-time data to the company; Oversee all tax related audits of the company including income and sales taxes. Prepare budgets for all tax related balance sheet and income statement information; Define and review the regulations and taxability of multi-state corporate business and revenue producing transactions;
Lead and direct the performance of a cross functional accounting and tax team; Serve as the key point of contact with external auditors; lead and coordinate the financial statements audit and review and apply applicable new accounting or tax pronouncements; Maintain and enhance banking relationships, monitor debt covenants and ensure compliance.
Director of Finance & Tax Monitor new FASB, GAAP and tax proposals/developments and pronouncements and determine their impact to the Company and its stockholders; Effectively provide financial support necessary into all areas of the business, i.e. operations, distribution, marketing, merchandising, ecommerce, etc.;
Establish and maintain strong, collaborative relationships with internal finance and business associates. Partner with company executives, business owners, key stakeholders and functions across the company. Provide financial and tax insight, financial controls, improvements, and assistance; Drive the execution of the closing process; oversee the general ledger and the integrity of the reports, schedules, and journal entries.
Their Culture OUR CLIENT has a clear and strong understanding of who they are; known for delivering a
focused operating style to the marketplace and whose member family business bring an enduring commitment to its customers Uphold the Core Values of “Integrity, Innovation, and Teamwork” Low turnover with over 25% of workforce having more than 25 years or more with the
company Quality and talented leadership team with diversified training and rotation
opportunities. Developed the “Leaders in Training Program” for talented employees to grow as future leaders of the company They are forward thinking, agile and adaptable to meet the changing needs of their
members, customers, and industry. Legacy of commitment and giving back to the community
Open, collaborative and diverse environment coupled with a strong sense of values for doing
things the right way They value and invest in their employees to ensure they have the capabilities and support to implement their strategy, achieve their vision and deliver value.
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Desired Qualifications he ideal candidate for the Director of Finance & Tax position will be a successful senior level accounting/finance professional who brings both in-depth GAAP accounting skills combined with a background of experience in taxes and preparing corporate tax returns in a large diversified supermarket, grocery or retail corporation. Well versed in building solid and valued relationships , this individual must possess strong and effective communication and presentation skills, and demonstrate the ability to work and partner effectively with a variety of senior executives, line managers, and external stakeholders. The Director of Finance & Tax will have an initial strong accounting and tax foundation through experience in public accounting or other comparable financial training.
Professional qualifications will include: B.S. degree in Accounting /Finance with a CPA certification required, and MBA preferred; A minimum of 10+ years of diversified and progressively more responsible roles in financial accounting, and corporate tax reporting experience with a combination of public accounting and corporate financial experience; Specific industry experience, while not required, is a plus, include multi location supermarket/ grocery, or retail experience, and/or national/regional consumer goods retail chains; Solid foundational skills in GAAP financial accounting, corporate income and sales tax compliance and the tax aspects of GAAP reporting; High level of demonstrated success in building value within the accounting/finance and tax function of a large, high volume organization; Excellent analytical and problem solving skills in both the accounting and tax areas with solid critical and conceptual thinking abilities; Excellent oral and written communication skills, the ability to present his/her ideas in a clear, concise and compelling fashion to senior and line management and company membership.
Director of Finance & Tax
Personal characteristics and attributes will include: A high caliber and impactful leader who is energetic and enthusiastic; and can respond with a quick sense of urgency, and the ability to multi-task and make things happen; A high potential performer who has the capability , career goals, and motivation to be promoted to more senior roles in the organization;
A management style that conveys a hands on teamwork approach with a solid work ethic and roll-your-sleeves-up mentality; A conscientious and cooperative team player, with a collaborative, friendly, and outgoing approach that interfaces well with all functions and departments of the company; Excellent interpersonal and presentation skills – comfortable with frequent interactions and visibility with the senior executive leadership team and stakeholders; Ability to work well with others and earn credibility, and to identify, define and solve problems; A value system that includes flawless personal and business honesty, integrity, openness, and a dedication to exceeding expectations;
Detail oriented, flexible, highly motivated, likes to be challenged and values the opportunity to make a difference.
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Location The position is based in Keasbey, New Jersey.
Compensation The successful candidate will receive a competitive and compelling compensation package, which will include an attractive base salary, performance based bonus, equity participation, and long-term financial incentives.
Application Process Candidates who represent the opportunities and attributes presented in this profile are encouraged to contact Epsen Fuller Group. All inquires are kept strictly confidential and may be made to: Richard Cannellos CFO & Senior Client Partner rcannellos@epsenfuller.com +1 646-706-7602
Equal Employment Opportunity Epsen Fuller Group shall provide equal employment opportunity to all qualified candidates, and will refer candidates without regard to race, color, religion, national origin, sex, age, disability, veteran status or any other legally protected basis. Epsen Fuller Group shall comply with all applicable laws, rules and regulations in the performance of duties pursuant to this project, including but not limited to, Title VII of the Civil Rights Act, the Age Discrimination in Employment Act, the Americans with Disabilities Act, and state and local anti-discrimination laws to the extent applicable.
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