logo

View all jobs

Chief Financial Officer - CFO

Annapolis, Maryland
FosterThomas, Inc. is a leading Human Capital Management Firm. We are assisting our client, Bold Ocean in their search for a Chief Financial Officer (CFO).  This position will be located in Annapolis, MD. This opportunity offers a competitive compensation and benefits package. This position is full time and permanent.

Company Description
Bold Ocean, LLC (“Bold Ocean” or the “Company”) is a leading provider of U.S. Flag shipping services, fleet technical management, and marine personnel in the U.S. Flag fleet, serving the complex needs to its partners to transport critical government supplies, food aid, and other parcel goods globally. Bold Ocean and its subsidiaries operate with the singular mission to be the preeminent operator in the U.S. Flag fleet focused on Jones Act tonnage, the U.S. Cargo Preference market, and the Maritime Security Program. Founded in 1998 by four partners, Bold Ocean operates a fleet of 7 vessels with ~185 employees (including ~150 U.S. mariners), is a SBA small business and Green Marine Certified operator, with headquarters in Annapolis, MD.
 
With a commitment to be the preeminent U.S. Flag operator, Bold Ocean’s core values include:
 
  • SAFETY – Seek to ensure the highest standards of safety and environmental compliance.
  • PUBLIC SERVICE – Our U.S. Flag operations support and value the role that the US Merchant Marine will continue to play in responding to national defense, natural disasters, and similar emergencies.
  • GROWTH – Take a growth position in the mature markets in which we operate, always be open to new ideas, and adapt quickly to new ways of operating.
  • EXCELLENCE – Take pride in what we do, work hard in doing so, and always strive to be the best at what we do believing in continuous improvement and success by following our clients, listening to their requirements, and tailoring our business to provide superior service.
  • INTEGRITY – Operate with integrity, kindness, and ethical behavior at all times; being honest and transparent with our customers, vendors, and employees, all of whom we depend upon for our success; and demonstrate our loyalty to our clients and partners, and respect for everyone we encounter.
 
In line with the Company’s mission and strategy of continued growth, Bold Ocean recently partnered with an infrastructure investment firm to pursue attractive growth opportunities, and is seeking a top-flight leader to join the Company as the Chief Financial Officer to help position the Company for its next stage of growth.
 
Scope and Responsibilities
Reporting to the Chief Executive Officer (CEO) and executive team, the Chief Financial Officer (CFO) will be a key leader in building and growing the Company while serving as the right hand and business partner to the CEO and senior management team.  In addition, the CFO will play an important role in communicating with investors and board members and working across the organization.  As such, the CFO will be responsible for the traditional financial functions of the Company to include accounting, financial reporting, financial planning and analysis, cash and working capital management, forecasting, budgeting, tax, treasury, and banking.  In addition, the CFO will lead information systems and partner across the business in driving process improvement.
 
  • Work closely with the CEO and Private Equity firm, and its other capital partners to establish a strong business partner relationship and ensure the Company’s goals, key initiatives, and performance are well understood, aligned, and effectively communicated and executed.
  • Play a central role in optimizing the business by maintaining a dynamic financial model to support the Company’s vision and strategy that paired with a metrics-driven approach to allocate capital, maximize fleet utilization, manage costs, and drive long-term profitable growth.
  • Lead the Company’s financing activities by both managing the Company’s existing lender relationships and playing an active role in negotiating terms of future capital sources to most efficiently fund the business, manage the balance sheet, and allocate capital.
  • Lead the Company’s financial planning and reporting activities to effectively manage and present the Company’s financial results and forecasts by implementing new “best-in-class” reporting of consolidated financial, operational financial metrics, and “Key Performance Indicators” on a regular and ad-hoc basis.
  • Develop and lead a small and focused team while driving process improvement, establishing a solid accounting and control environment, and leveraging the capabilities of existing systems.
 
Key Selection Criteria
  • The candidate will have exceptional financial management skills and previous experience as a CFO of a small to mid-sized Company, or as a Divisional CFO in a relatively autonomous business unit.  The CFO will have a strong foundation of experience gained within Companies known for the quality of their people and financial functions combined with a strong educational background and well-rounded accounting and financial planning expertise.
  • The candidate will have proven experience establishing best practices and a metrics-driven model.  The CFO will demonstrate the financial and business acumen to quickly understand the business and identify the key financial levers to assist in optimizing the business.
  • The candidate will have previous experience in treasury and banking and demonstrate the financial agility and expertise to effectively manage relationships with lenders, renegotiate credit facilities, and assist in managing the capital structure of the Company.
  • The ideal candidate will have previous experience in a private equity-backed business, able to mentor employees, work with a small business that is migrating to the capital markets as the company grows, and be comfortable as the financial leader of a business utilizing debt and leverage to fund growth.
  • The ideal candidate will have previous experience in similar or relevant business and demonstrate an understanding and/or the affinity for a shipping or logistics business, and familiarity with government, maritime, or military contracting
 
Personal/Professional Attributes
 
  • The successful candidate will be a strong business partner with the ability to build highly effective relationships at all levels and both within and outside the business.  Demonstrating the ability to work in a mid-sized, founder-led business will require strong relationship skills and a high degree of social and self-awareness.
  • The successful candidate will be a collaborative team builder with a natural team orientation and proactive leadership style.  The CFO will not only be hands-on and operate as a team player, but also lead by example and put the success of the team first.
  • The new CFO will demonstrate a strong results-orientation and the toughness of character and work ethic to lead in hard working and mission driven organization.  Importantly, the CFO must be hungry, totally committed to winning, and demonstrate the strength of conviction and intensity that engenders confidence and inspires others.
  • The successful candidate must possess the highest moral and ethical standards and demonstrate an appreciation and understanding of the servant leader model.  Considering the Company’s culture and commitment to doing what is right, the CFO must be a highly respected leader who plays a key role in shaping a positive Company culture.
  • The CFO must possess exceptional communication skills and executive presence to lead both within and outside the Company.  In light of the strong business partner and leadership role the CFO will play, the CFO must demonstrate the confidence and stature to represent the Company and its investors.
  • The new CFO must also be smart and agile and demonstrate the intellectual horsepower and quickness to lead in a dynamic and fluid business.  As a result, we seek to attract a leader and mentor with the ability to anticipate future consequences and trends combined with the ability to remain focused and lead when faced with unforeseen challenges and limited resources.

EEO Statement: FosterThomas is an equal opportunity employer and is committed to equal employment opportunities in recruitment, hiring, promotion, training, compensation and disciplinary action with regard to the terms and conditions of employment.  FosterThomas does not discriminate on the basis of race, religion, national origin, color, age, sex, disability, marital status, gender identity genetic information, sexual orientation, or sex, including pregnancy and childbirth, veteran status or any other legally protected characteristics.

More Openings

Airport Maintenance Technician
Account Manager
Data Engineer

Share This Job

Powered by