Chief Financial Officer

Job Description

Job Description:\n\nChief Financial Officer (CFO)\nDepartment: Finance Reporting to: COO Location: Downtown Cleveland Scope: Global – Israel, United States, Canada, and future international entities\n\nRole Summary\nINNOVA is seeking an experienced, commercially minded Chief Financial Officer (CFO) to lead the company's global financial strategy, financial operations, and long-term financial planning.\nReporting directly to the COO, the CFO will be responsible for the overall financial health, performance, and financial infrastructure of the organization, ensuring the company has the financial discipline, resources, systems, and controls necessary to support its continued growth and international expansion.\nThe CFO will serve as a key member of the executive leadership team, working closely with the COO and senior management to drive financial performance, support strategic business decisions, manage financial risks, and establish a scalable financial structure across all company entities.\nThis is both a strategic and hands-on leadership role. The CFO must be able to operate at the executive level while remaining closely involved in financial performance, cash flow, financial reporting, business operations, and the implementation of financial initiatives.\nThe CFO will lead the global finance function, including the Senior Finance Manager and broader finance team, and will be accountable for ensuring\nfinancial accuracy, operational efficiency, transparency, and accountability throughout the organization.\n\nKey Responsibilities\nFinancial Strategy & Executive Leadership\n● Lead the development and execution of the company's global financial strategy in alignment with its business objectives, growth plans, and operational priorities.\n● Serve as a strategic financial partner to the CEO and executive leadership team, providing financial insight, recommendations, and guidance on key business decisions.\n● Establish financial objectives, performance measures, and accountability frameworks across the organization.\n● Evaluate the financial implications of strategic initiatives, business expansion, new markets, investments, and operational decisions.\n● Develop financial strategies that support profitability, sustainable growth, cash flow, and long-term financial stability.\n● Provide financial leadership and oversight across all company entities and jurisdictions.\n● Identify financial risks, opportunities, and performance gaps, and lead initiatives to address them.\n● Support executive management in evaluating business performance, resource allocation, and organizational priorities.\n\nFinancial Planning, Budgeting & Performance Management\n● Lead the company's annual budgeting process, financial planning, forecasting, and long-term financial modeling.\n● Develop and maintain consolidated financial forecasts across business units, departments, and international entities.\n● Establish financial KPIs and reporting frameworks to measure profitability, revenue performance, operating expenses, margins, cash flow, and working capital.\n● Analyze financial performance against budgets, forecasts, and strategic objectives, identifying variances and corrective actions.\n● Work closely with department leaders to establish budgets, monitor financial performance, and ensure financial accountability.\n● Evaluate the financial performance of products, business units, markets, and operational initiatives.\n● Develop financial models and business cases to support investments, hiring plans, expansion, and other strategic decisions.\n● Provide the CEO and executive leadership with timely, accurate, and actionable financial analysis.\n\nCash Flow, Treasury & Capital Management\n● Maintain overall responsibility for the company's cash flow, liquidity, banking relationships, treasury operations, and working capital strategy.\n● Develop cash flow forecasts and liquidity plans to ensure sufficient financial resources are available to support business operations and growth.\n● Establish strategies to optimize working capital, collections, payment terms, inventory investment, and cash conversion.\n● Oversee banking arrangements, financing facilities, credit lines, and other financial relationships.\n● Evaluate financing requirements and opportunities to support expansion, capital investments, and strategic initiatives.\n● Establish financial controls and approval authorities governing payments, banking transactions, expenditures, and financial commitments.\n● Monitor financial obligations, funding requirements, and liquidity risks across all company entities.\n● Lead financing discussions and negotiations with banks, lenders, and financial institutions as required.\n\nFinancial Reporting, Accounting & Governance\n● Maintain executive accountability for the accuracy, completeness, integrity, and timeliness of the company's financial records and reporting.\n● Oversee the Senior Finance Manager and finance team in managing accounting operations, financial closing processes, reconciliations, and financial reporting.\n● Review and approve consolidated financial statements, management reports, cash flow reports, and other key financial information.\n● Establish financial policies, accounting standards, internal controls, reporting requirements, and governance frameworks across all entities.\n● Ensure consistent financial practices, reporting standards, and accountability throughout the organization.\n● Oversee intercompany accounting, transactions, reconciliations, and consolidated financial reporting.\n● Identify and address financial reporting risks, control weaknesses, and accounting issues.\n● Ensure the finance function provides reliable financial information to support management decisions and external reporting requirements.\nInternational Finance, Tax & Regulatory Compliance\n● Oversee financial operations and compliance across Israel, the United States, Canada, and additional jurisdictions in which the company operates.\n● Establish and maintain appropriate financial, accounting, tax, and governance structures for international operations.\n● Oversee tax planning, statutory reporting, regulatory compliance, and financial filing obligations in coordination with external advisors.\n● Manage relationships with external auditors, accountants, tax advisors, legal counsel, and other financial service providers.\n● Ensure appropriate oversight of intercompany transactions, transfer pricing considerations, and international financial arrangements.\n● Lead financial aspects of audits, due diligence, financing transactions, and corporate restructuring initiatives.\n● Evaluate financial and regulatory implications of entering new markets or establishing additional legal entities.\n● Ensure financial risks and compliance obligations are identified, monitored, and appropriately addressed.\n\nCommercial Finance & Business Partnership\n● Partner closely with Sales, Operations, Supply Chain, Procurement, Product, and other departments to improve financial performance and operational decision-making.\n● Evaluate product pricing, discount structures, gross margins, profitability, and commercial terms.\n● Provide financial oversight of sales commissions, incentive structures, and other compensation-related financial commitments.\n● Analyze customer profitability, revenue trends, sales performance, and commercial opportunities.\n● Support negotiations involving significant customer agreements, supplier arrangements, strategic partnerships, and financial commitments.\n● Evaluate inventory levels, procurement strategies, supplier payment terms, and supply chain costs to improve working capital and profitability.\n● Establish financial approval processes and expenditure controls across departments.\n● Support management in identifying cost efficiencies, improving margins, and optimizing resource allocation.\n● Ensure commercial and operational decisions are supported by sound financial analysis and clear financial accountability.\n\nFinancial Systems, Infrastructure & Process Improvement\n● Lead the development and continuous improvement of the company's global financial infrastructure, systems, reporting capabilities, and financial processes.\n● Establish a scalable finance operating model capable of supporting multiple entities, increasing transaction volumes, and international expansion.\n● Oversee financial systems, ERP platforms, reporting tools, CRM integrations, and automation initiatives.\n● Work closely with IT, Business Systems, and department leaders to ensure financial systems support accurate reporting, efficient operations, and reliable data.\n● Identify opportunities to automate financial processes, strengthen controls, reduce manual work, and improve reporting capabilities.\n● Establish consistent financial policies, workflows, approval authorities, and reporting standards across all company entities.\n● Evaluate the effectiveness of existing financial systems and lead improvements or implementations as required.\nFinance Department Leadership & Management\n● Lead and manage the global finance function, including the Senior Finance Manager and broader accounting and finance team.\n● Establish the finance department's organizational structure, responsibilities, performance expectations, and operating priorities.\n● Provide leadership, direction, and oversight to ensure the finance department operates accurately, efficiently, and with clear accountability.\n● Develop the capabilities of the finance team through recruitment, training, performance management, and professional development.\n● Ensure appropriate segregation of duties, internal controls, reporting relationships, and financial approval authorities.\n● Delegate day-to-day accounting and finance operations to the Senior Finance Manager while maintaining executive oversight and accountability.\n● Establish clear financial reporting deadlines, management review processes, and performance standards.\n● Build a finance function that can support the company's continued growth, increasing operational complexity, and international expansion.\nStrategic Initiatives, Investments & Corporate Development\n● Lead financial evaluation and planning for strategic investments, acquisitions, partnerships, financing opportunities, and business expansion initiatives.\n● Conduct financial due diligence and assess commercial, operational, and financial risks associated with major business decisions.\n● Develop financial models and investment analyses to support capital allocation and strategic planning.\n● Support the CEO in evaluating new business opportunities, organizational changes, and long-term growth initiatives.\n● Oversee financial planning and integration associated with new entities, acquisitions, and international operations.\n● Prepare financial presentations, business cases, and strategic analyses for executive management, shareholders, investors, and financial institutions as required.\n\nQualifications & Experience\n● Bachelor's degree in Accounting, Finance, Economics, or a related field.\n● CPA, CA, or equivalent professional accounting qualification strongly preferred; MBA or advanced finance qualification is an advantage.\n● Minimum 12–15 years of progressive experience in finance and accounting, including significant senior financial leadership experience.\n● Proven experience as a CFO, VP Finance, Finance Director, or equivalent senior finance executive, preferably within a growing international organization.\n● Strong experience managing financial operations across multiple legal entities and international jurisdictions.\n● Demonstrated expertise in financial strategy, budgeting, forecasting, cash flow management, financial reporting, and internal controls.\n● Strong understanding of accounting standards, international taxation, regulatory compliance, and intercompany financial structures.\n● Experience managing banking relationships, financing arrangements, working capital, and capital allocation.\n● Strong commercial and operational finance experience, including pricing, profitability analysis, procurement, inventory, and business performance.\n● Proven experience building and leading finance teams and developing scalable financial systems and processes.\n● Experience with ERP systems, financial reporting tools, automation, and financial systems integration.\n● Advanced financial modeling, analytical, and problem-solving skills.\n● Excellent written and verbal communication skills in English.\n● Experience working with US and Canadian entities is strongly preferred.\n\nWhat We're Looking For\n● Strategic and commercially minded: Understands the business beyond the numbers and can translate financial information into practical business decisions.\n● Hands-on leadership: Comfortable working at both the executive and operational levels, with the ability to identify issues, challenge assumptions, and drive execution.\n● Financial discipline: Maintains high standards of financial accuracy, transparency, governance, and accountability.\n● Strong ownership: Takes responsibility for the company's financial performance, financial infrastructure, and the effectiveness of the finance function.\n● Analytical and forward-thinking: Able to anticipate financial risks, identify opportunities, and plan for the financial requirements of continued growth.\n● Operational understanding: Recognizes how sales, procurement, inventory, supply chain, and other business functions affect financial performance.\n● Leadership and accountability: Able to build a capable finance team, establish clear expectations, and ensure responsibilities are carried through.\n● Process and systems oriented: Focused on developing scalable processes, reliable reporting, effective controls, and operational efficiency.\n● Sound judgment: Able to make well-informed financial recommendations, manage competing priorities, and support complex executive decisions.\n● Collaborative: Works effectively with the CEO, executive leadership, and department heads while maintaining appropriate financial oversight and independence.\n\nPosition Expectations\nThe CFO will have overall responsibility for the company's financial strategy, financial performance, financial governance, and global finance function.\nThe position requires a strong combination of executive financial leadership, commercial understanding, operational involvement, and the ability to develop the financial infrastructure necessary to support continued growth.\nThe CFO will be expected to establish financial discipline throughout the organization, ensure leadership has reliable and actionable financial information, and maintain a clear understanding of the company's financial position, risks, and opportunities.\nWorking directly with the CEO, the CFO will play a central role in supporting strategic decisions, improving profitability, managing financial resources, and ensuring that INNOVA's financial operations and infrastructure are positioned to support its long-term objectives.