The Role
Leads accounting and financial management for a subsidiary, overseeing reporting, close processes, budgeting, forecasting, internal controls, audits, inventory accounting, cash flow, and working capital. Partners with operational and corporate leadership on profitability, pricing, cost management, strategic planning, and business decisions. Manages accounting personnel, supports acquisitions and system implementations, and ensures compliance with GAAP and company policies.
Summary Generated by Built In
Colonial Group, Inc. is a multigenerational, family-owned parent company overseeing a diverse portfolio of subsidiaries. Through our strategic infrastructure, logistics expertise, and a broad range of products and services, we create significant value for our customers while driving innovation and operational excellence.
The Subsidiary Controller is the senior financial leader for Colonial Oil and is responsible for overseeing all accounting, financial reporting, budgeting, forecasting, internal controls, and financial analysis activities for the business. This position serves as a strategic business partner to subsidiary leadership and works closely with operations, sales, supply chain, and corporate management to improve profitability, optimize working capital, support growth initiatives, and ensure compliance with company policies and Generally Accepted Accounting Principles (GAAP).
The Subsidiary Controller is accountable for the integrity of the subsidiary's financial information and provides financial leadership to support operational and strategic decision-making.
DUTIES & RESPNSIBILITIESFinancial Leadership and Reporting- Direct and oversee all accounting activities for the subsidiary, ensuring accurate and timely financial reporting.
- Coordinate and manage monthly, quarterly, and annual closing processes.
- Review financial statements, operating results, and key performance indicators for accuracy, reasonableness, and consistency.
- Analyze financial performance and communicate results, trends, risks, and opportunities to subsidiary and corporate leadership.
- Ensure compliance with GAAP and company accounting policies.
- Partner with subsidiary leadership to develop and execute strategies that improve profitability, cash flow, and return on invested capital.
- Provide financial guidance and decision support related to pricing, customer profitability, inventory management, capital expenditures, and growth initiatives.
- Evaluate financial impacts of operational decisions and recommend actions to improve business performance.
- Participate in strategic planning and long-term business initiatives.
- Lead the annual budgeting process and periodic forecasting activities.
- Develop financial models and business analyses to support management decision-making.
- Monitor performance against budget and forecast and explain significant variances.
- Identify key drivers of financial performance and recommend corrective actions when necessary.
- Oversee inventory accounting, valuation, reserves, and controls.
- Monitor inventory levels, turnover, obsolescence, and working capital performance.
- Partner with operations and supply chain leadership to improve inventory management and operational efficiency.
- Analyze transportation, warehousing, packaging, and distribution costs and identify opportunities for improvement.
- Maintain and strengthen internal controls, accounting procedures, and financial processes.
- Ensure compliance with company policies, regulatory requirements, and audit standards.
- Coordinate internal and external audit activities for the subsidiary.
- Implement process improvements and system enhancements to increase efficiency and accuracy.
- Monitor subsidiary cash flow, accounts receivable, inventory, and accounts payable performance.
- Develop strategies to improve working capital utilization and cash generation.
- Support treasury and financing initiatives as required.
- Lead, supervise, and develop accounting and finance personnel within the subsidiary.
- Establish performance expectations and provide coaching and professional development opportunities.
- Foster collaboration among finance, operations, sales, supply chain, and other functional areas.
- Promote a culture of accountability, continuous improvement, and customer service.
- Support acquisitions, integrations, system implementations, and strategic initiatives.
- Perform special analyses and projects as requested by subsidiary or corporate leadership.
- Perform other duties as assigned.
- Bachelor's degree in Accounting, Finance, or a related field.
- Seven to ten years of progressive accounting and financial management experience.
- Previous Controller, Assistant Controller, Finance Director, or Corporate Controller experience.
- Certified Public Accountant (CPA) preferred.
- Master of Business Administration (MBA) preferred.
- Experience in manufacturing, chemical distribution, logistics, supply chain, or industrial operations.
- Experience in a diversified, multi-location business environment.
- Experience with inventory-intensive operations and working capital management.
- Experience with ERP systems and business intelligence tools.
- Strong knowledge of GAAP, financial reporting, budgeting, forecasting, and internal controls.
- Experience leading accounting teams and partnering with operational management.
- Strong financial and business acumen.
- Advanced analytical and problem-solving skills.
- Ability to translate financial information into actionable business recommendations.
- Strong leadership and team development capabilities.
- Excellent communication and presentation skills.
- Advanced proficiency in Microsoft Excel and ERP systems.
- Ability to influence decisions across multiple functional areas.
- Strong project management and organizational skills.
- Regularly required to sit, stand, walk, use hands and fingers, reach with hands and arms, and communicate verbally and in writing.
- Ability to work for extended periods at a computer and use standard office equipment.
- May occasionally be required to walk through manufacturing, warehouse, distribution, or other operational areas.
- May occasionally be exposed to typical industrial environments, including noise, varying temperatures, and moving equipment, while following all required safety procedures and wearing appropriate personal protective equipment (PPE).
- Ability to occasionally lift, carry, push, or pull materials or equipment weighing up to 25 pounds.
- Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions of the position.
- Primarily an office-based position with regular interaction with subsidiary leadership, corporate personnel, and operational teams.
- May require periodic travel to company facilities, customer locations, or other business locations.
- Work may occasionally be performed in manufacturing, warehouse, or distribution environments where appropriate safety procedures and PPE are required.
Eligibility Requirements: Hiring is contingent upon eligibility to work in the United States.
Colonial Group, Inc. is committed to creating an environment that values and supports diversity and inclusiveness across our organizations. We encourage applications from qualified individuals who will help us achieve this mission. Colonial Group, Inc. prohibits discrimination of and will receive consideration for employment without regard to race, color, religion, sex, age, sexual orientation, gender identity, religion, national origin, disability, veteran status, or other legally protected status.
Skills Required
- Bachelor's degree in Accounting, Finance, or a related field
- Seven to ten years of progressive accounting and financial management experience
- Previous Controller, Assistant Controller, Finance Director, or Corporate Controller experience
- Certified Public Accountant (CPA)
- Master of Business Administration (MBA)
- Experience in manufacturing, chemical distribution, logistics, supply chain, or industrial operations
- Experience in a diversified, multi-location business environment
- Experience with inventory-intensive operations and working capital management
- Experience with ERP systems and business intelligence tools
- Strong knowledge of GAAP, financial reporting, budgeting, forecasting, and internal controls
- Experience leading accounting teams and partnering with operational management
- Advanced proficiency in Microsoft Excel and ERP systems
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The Company
What We Do
A family company founded in 1921, Colonial’s history is rooted in the marketing, retailing, and distribution of petroleum products for the transportation, industrial, and marine applications. Over time, Colonial expanded its offerings to include natural gas marketing, liquid & dry bulk storage, maritime services, and industrial chemical sales. Today, Colonial provides industry leading levels of service, ranking #64 on Forbes List of America's Largest Private Companies.
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