GT Advanced Technologies (GTAT) is making a structural change at the head of its finance division by recruiting a CAO. The move signals the end of the dual title of CFO/CAO that has persisted over the last several years. GT named Raja Bal as Chief Accounting Officer (CAO) and “successor” CFO on January 16th, 2014. Raja Bal succeeded Richard Gaynor as GT’s CFO on March 7th, 2014. GT is currently in the process of transforming its business and becoming a “high growth, multi-national/global, diversified high technology manufacturing company”.
GT’s latest move should free up the Raja Ball from the day-to-day accounting operations and allow him to focus on the company’s strategic initiatives. The new CAO will be taking over GT’s day-to-day accounting functions of the organization and will also be responsible for managing GT’s quarterly and annual financial reporting. The CAO will also “support the selection, negotiation and due diligence processes for acquisition targets”. Additional CAO position details are listed below:
The ideal candidate will have a minimum of 5 years’ experience as a CAO / Corporate Controller with 15-plus years of progressive financial management experience with publicly traded, high growth, multi-national/global, diversified high technology manufacturing companies.
Provide leadership and oversight of all aspects of the controllership and accounting functions of the organization including payroll, accounts payable, billings and receivables, internal audits, external audits, and SOX requirements.
Be responsible for timely and accurate dissemination of financial reports and leadership highlighting major issues and trends and commentary on variances from plan, prior year and forecast.
Expertise in issues specific to high volume manufacturing environments including cost accounting, factory cost pools, standard cost, variance analysis and overhead absorption. Demonstrated ability to drive product cost reduction and operating expense rationalization initiatives.
Manage quarterly and annual reporting including the completion of financial statements and footnotes, management’s discussion and analysis encompassing review of all new accounting matters, application of judgment, and significant matters for discussion with disclosure committee.
Impeccable integrity; words and actions must continually reinforce this characteristic.
Support the selection, negotiation and due diligence processes for acquisition targets. Oversee and coordinate the financial and accounting diligence efforts and integration process. Manage consolidation of accounting and reporting requirements for acquisitions.
Exceptional communication skills; experienced and effective in interacting with senior executives and line management at all levels. Credible, persuasive and clear in both oral and written presentations.
Effective interpersonal skills; must be able to relate to and work cross-functionally with a wide variety of professionals across different cultures. A certain level of travel will be required to GT’s locations domestically and in Asia.
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