Identifying a Financial Reporting Director for Commercial Clothier Firm

The Client

Commercial Clothier Firm

One of the nation’s leading publicly traded retail manufacturers was looking to hire a Director of Financial Reporting.

The Technology

  • General Accounting
  • SOX Complianceli>
  • Financial Auditsli>
  • Retirement Plans Management
  • Financial Reporting
  • Month-end Closing
  • Automation of 1099s
  • XBRL

The Challenge

This new position encompassed the financial reporting responsibilities currently spread between the CFO, Treasurer, Controller, and the CFO’s Executive Assistant. In addition to Financial Reporting, there were additional responsibilities for the position:

  • Oversight of the General Accounting department
  • Redesign and execution of the SOX Compliance function
  • Management of Audits – Financial
  • Management of Retirement Plans
  • Implementation of a financial reporting software system
  • Revamping of the monthly closing process
  • Automation of 1099s

Because of the required experience and salary constraints, recruiting for this position was extremely difficult.

The Solution

Mary Ann McClayton (currently a Resource Manager at The Squires Group) was selected to fill this position. Mary Ann proceeded down two paths. First, she initiated a search for qualified candidates. Second, she conducted a market survey to benchmark the current salary level for positions with similar responsibilities. Upon analysis, Ms. McClayton identified some candidates who met most of the qualifications, but not within the salary constraint initially provided by the client. After detailed negotiations with the client and the candidate, accommodations were obtained from both parties and a candidate was hired.

The Success

The new employee was hired and, based on exceptional job performance, was promoted to VP – Controller within two years. She has implemented a state of the art financial reporting system, XBRL.

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