Job Description

Client: Heritage Aviation

Website: Heritage Aviation

Role: Chief Financial Officer (CFO)

Reports To: Chief Executive Officer (CEO)

Location: South Burlington, VT

About this Opportunity:

The Chief Financial Officer (CFO) is responsible for guiding and overseeing the financial strategy and operations of the company, ensuring its financial health while serving as a strategic advisor to both the CEO and the board of directors. Directly reporting to the CEO, the CFO plays a crucial role within the senior leadership team, providing essential financial insights that drive business growth, assess investment opportunities, and evaluate financial risks.

The CFO provides both tactical and strategic financial expertise to ensure alignment with the organization's goals and objectives. Key responsibilities include preparing and analyzing current financial reports and summaries, as well as developing forecasts to project future growth. The CFO also identifies financial risks and opportunities through the analysis of financial data and trends, offering recommendations aimed at enhancing profitability and operational efficiency.

About The Company:

Heritage Aviation is a 100% employee-owned aviation services company that provides Maintenance, Avionics and Fixed Base Operations from Burlington International Airport. For over 30 years, our FAA-certified repair station has provided the region with outstanding aircraft maintenance and avionics support. Our #1 rated FBO division is famous for its customer service excellence combined with technical expertise in ground handling, fueling, deicing and aviation support capabilities. Each of our 70+ employee owners has a personal interest in our success.

As a certified B-Corp, we live our commitment to employee ownership, sustainability, and community involvement in all that we do. Whether you visit us in a small piston aircraft or large corporate jet, the values of our employee owners remain the same. We foster meaningful connections and experiences through exceptional aviation safety and service. That is the Heritage way.

Heritage Aviation has been selected as one of the Best Places to Work in Vermont for 8 consecutive years. Our company’s culture fosters health, wellness, and engagement in a team-oriented environment. We are committed to employee-owner learning, development, and growth as well as a healthy work/life balance. A career at Heritage Aviation is much more than a paycheck. In addition to competitive wages and employee stock plan, we offer a full suite of employee centric benefits designed to enhance your health and wellbeing and make it easy to care for yourself – now and for the future.

Key Duties and Responsibilities

• Supervise all financial and accounting operations within the company, specifically accounts payable, accounts receivable, general ledger, payroll, and business insurance, ensuring that each function meets business needs while adhering to GAAP (Generally Accepted Accounting Principles) and all relevant laws, policies, and regulations.
• Develop and lead the finance team, ensuring that the department possesses the necessary talent and resources to effectively perform its duties.
• Develop and implement efficient and effective finance, accounting, and billing processes.
• Maintain cash flow analysis and investment strategies.

• Oversee the company's capital structure, including making decisions regarding equity and debt financing. Evaluate investment opportunities, assess the cost of capital, and determine strategies for raising funds or allocating capital to support the company’s growth and strategic objectives.
• Serve as a key representative for the organization, engaging with investors, financial institutions, and regulatory bodies.
• Collaborate with the leadership team on financial negotiations, mergers and acquisitions, and maintaining stakeholder relationships. Prepare analyses and reviews of major business transactions.
• Work closely with managers to provide advisory support, necessary reports and analyses, and ensure financial goals are integrated with broader business strategies.
• Ensure the financial integrity of data from the three software systems: X1 for the FBO, EBIS for Aircraft Maintenance, and QuickBooks for accounting.

Monthly Responsibilities

• Prepare monthly financial statements, including supporting metrics alongside revenue and cost analysis.
• Generate standard and additional journal entries as necessary.
• Maintain schedules for Fixed Assets.
• Prepare financial summaries for the Board and deliver monthly narratives on financial performance.
• Develop and present financial reports for monthly management and staff meetings.
• Track business metrics related to revenue and cost accounts to identify patterns or areas that may influence the financial performance of the company.

Annual Responsibilities

• Oversee the year-end review with an external accounting firm, ensuring all necessary documentation and supporting schedules are available.
• Manage the annual valuation process with an outside valuation firm, as the company is Employee Owned and requires an annual valuation to set the stock price, including compiling essential documents and schedules.
• Coordinate the annual ESOP (Employee Stock Ownership Options) stock allocation and reporting through our Third Party Administrator (TPA), providing census data and reviewing stock allocation, distribution reporting, and employee stock account statements.
• Prepare and analyze a detailed annual budget using historical and measurable metrics, including capital expenditures, revenue, and expense details.
• Offer payroll-related reports to Human Resources for the preparation of annual employee benefit statements.
• Conduct the annual Workers’ Compensation audit and review related information.
• Review and approve business insurance details in collaboration with an external broker.
• Analyze and approve health insurance plans in partnership with Human Resources.
• Review and authorize the annual tax return prepared by an external accounting firm, including all 5500’s and annual reports.

Knowledge, Skills and Experience

• A minimum of 8 years in accounting and financial management is required. Expertise in financial accounting is essential.
• A minimum of 8 years of experience in managing financial operations and leading teams is required.
• Proven leadership capabilities and strategic thinking expertise.
• Exceptional analytical and organizational skills.
• Aptitude for conveying complex financial concepts to diverse stakeholder groups, including investors, board of directors, management and employees.
• Experience and proficiency with Employee Stock Ownership Plans (ESOP) is highly preferred.
• Skilled in database and software systems: QuickBooks for accounting, X1 for the FBO, EBIS for Aircraft Maintenance.
• Demonstrated ability to leverage technology for analysis and increased efficiency.
• Strong written and verbal communication skills.
• Strong presentation skills.
• A master’s degree in business administration, accounting, or finance is preferred.
• A Certified Public Accountant (CPA) designation is preferred but not mandatory.

Gallagher, Flynn, & Company, LLP has been retained to conduct this search. While we appreciate all interest in this opportunity, only candidates most closely aligned with our search will be contacted.  

Disclaimer: What's listed above is representative of the responsibilities of the position but is not meant to be an exhaustive list. Responsibilities may change during employment at the company's discretion. Gallagher, Flynn and Company and our clients do not discriminate in employment based on race, color, religion, sex (including pregnancy and gender identity), national origin, political affiliation, sexual orientation, marital status, disability, genetic information, age, membership in an employee organization, retaliation, parental status, military service, or other non-merit factors.

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