Chief Financial Officer (CFO)

Company Background

Velocity Truck Rental and Leasing (VTRL), a key division of Velocity Vehicle Group, specializes in delivering flexible truck rental and leasing solutions to businesses across various industries.

With a fleet that includes over 3,000 vehicles and locations across 15 states and Canada, they are well-equipped to meet diverse operational needs.

The company’s commitment to reliability and exceptional customer service positions them as a trusted partner in the transportation sector.

As a division of Velocity Vehicle Group, VTRL leverages an extensive network and industry expertise. This integration offers clients access to advanced vehicle technologies, maintenance solutions, and logistical support.

The collaboration enhances the company’s capacity to serve a diverse clientele from small businesses to large enterprises by providing comprehensive transportation solutions that streamline operations and drive efficiency.

Velocity Truck Rental and Leasing is dedicated to maintaining the highest safety and performance standards within their fleet.

The experienced team collaborates closely with clients to understand their unique challenges and deliver tailored solutions that foster business success.

With a focus on quality service and the robust infrastructure of Velocity Vehicle Group, VTRL is well positioned as a trusted partner in transportation, allowing clients the ability to focus on growing their business while their truck rental and leasing needs are looked after.

Success Is the Sum of Small Efforts, Repeated Day in And Day Out.

The Role

Interested in joining a rapidly growing organization, that values being part of the community, while providing best-in-class commercial vehicle solutions?

Does working for a company that focuses on leadership development and constantly improving internal culture appeal to you?

Velocity Truck Rental and Leasing is seeking a dynamic and strategic Chief Financial Officer (CFO) to lead their financial operations and drive the company’s growth.

The CFO will play a pivotal role in shaping the financial strategy of the organization, ensuring fiscal responsibility while supporting the continued expansion within the transportation sector.

The CFO is responsible for managing all aspects of the company’s finance and corporate support team.

Key Responsibilities :

Budget and Forecasting

Annual Budget Preparation : Lead the development of the annual budget by collaborating with department heads to gather input on revenue and expense projections, ensuring that the budget aligns with strategic goals.

Present the finalized budget to the senior management team and ownership, highlighting key assumptions and financial targets.

Weekly Forecasting : Complete detailed weekly forecasts for the current month, analyzing variances from the budget and providing actionable insights to management.

Leveraging the information to adjust operational strategies and resource allocations as needed.

Rolling Forecast Management : Create and continuously update a rolling forecast for year-end, beginning in March each year.

Evaluate ongoing performance metrics and market conditions to provide an accurate projection of financial outcomes.

Budgeting Process Improvement : Continuously enhance the budgeting process by conducting training sessions for department managers on financial principles and key performance indicators (KPIs) that directly impact their areas.

Foster a culture of financial accountability and understanding across the organization

Financial Reporting and Analysis

Ad-Hoc Reporting : Design and implement ad-hoc financial and operational performance reports tailored to the needs of senior management and other stakeholders.

Reports should focus on profitability analyses, cash flow projections, and performance against strategic goals.

Performance Metrics Analysis : Establish a framework for tracking and analyzing key financial metrics, enabling proactive decision-making and identifying areas for operational improvement.

Audit Coordination

Annual Audit Management : Coordinate the annual audit process by preparing necessary documentation, schedules, and analyses.

Collaborate with the Corporate CFO, the Head of Internal Audit and external auditors to ensure a timely completion of audit reports, addressing any findings and recommendations promptly.

Compliance Assurance : Ensure that all financial practices comply with regulatory standards and internal policies, maintaining a robust system of internal controls.

Banking and Financing

Banking Relationships : Maintain and nurture relationships with banking institutions to secure competitive financing for all company assets.

Negotiate terms that align with the company’s financial strategy and operational needs.

Capital Expenditure Assessments : Evaluate financing options for capital expenditures, conducting cost-benefit analyses to determine the most advantageous financial strategies.

Corporate Support Team Management

Operational Oversight : Oversee the daily operations of the corporate support team, ensuring efficient processes and effective communication across the department.

Provide leadership to enhance overall team performance.

Hiring and Talent Acquisition : Develop and execute recruitment strategies to attract and retain top financial talent, ensuring that the team is well-equipped to meet the company’s evolving needs.

Training Programs : Implement comprehensive training and development programs to enhance team members’ financial skills and knowledge, fostering professional growth.

• Performance Management : Establish performance metrics and conduct regular reviews to ensure that all team members are meeting objectives and contributing to overall departmental success.
• Termination Management : Handle personnel terminations with professionalism and in accordance with company policies, ensuring a respectful and compliant process.

Leadership Development

• Profitability Programs : Lead initiatives aimed at increasing profitability through process improvements, cost control measures, and strategic investments.
• Team Objectives : Create clear performance objectives for each team member, with regular feedback and support to encourage professional development and accountability.
• Career Development : Identify high-potential employees and develop customized career development plans to prepare them for potential promotions within the organization.

Customer Engagement

Customer Relations Management : Work directly with customers to ensure the highest level of customer service and satisfaction.

Address any financial inquiries or concerns promptly and professionally.

Collaboration with Sales and Operations : Collaborate closely with sales and operations teams to understand customer needs and align financial services with those needs, ensuring a cohesive approach to client relations.

About You

Experience / Knowledge / Skills Requirements / Behaviors

• Minimum of 7 Years in Finance and Administrative Management
• Proven track record in senior financial leadership roles, preferably in the transportation, rental, or leasing industry.
• Extensive experience in budgeting, forecasting, financial reporting, and compliance management. Demonstrated ability to manage complex financial operations and drive strategic financial initiatives
• Bachelor’s Degree in Finance, Accounting, Business Administration, or a related field
• MBA or Master’s Degree in Finance or a related field preferred
• CPA (Certified Public Accountant) designation is highly desirable, reflecting advanced financial expertise and ethical standards.
• Proven experience in leading and developing finance teams, fostering a culture of accountability, collaboration, and professional growth.
• Ability to create a motivating environment that encourages team members to achieve their highest potential.

SE# 510687098