Chief Financial Officer
Conuma Coal Resources
Tumbler Ridge / Vancouver, BC
Language of Work: English
Start Date: As soon as possible
Number of Vacancies: One (1)
Schedule / Terms of Employment: This is a full time (40 hours/week), permanent position.
The objective of the position will be to serve as the financial and commercial leader and advisor for the company and serve as a member of the executive team. The Chief Financial Officer will ensure that business alternatives are accurately analyzed, providing direction in the areas of finance, accounting, budgeting, taxation, treasury, reporting, supply chain and information technology as they relate to overall corporate strategy, growth, and stability.
We are a leading Canadian producer and exporter of metallurgical coal for the global steel industry. In 2016, Conuma acquired Walter Energy’s Canadian assets, which consisted of three metallurgical coal mines in Northeast British Columbia. These mines now make up the company’s Canadian operations. Conuma is privately held and well capitalized and is positioned to meet the world’s growing demand for metallurgical coal products.
Conuma operates two surface mines in Northeast British Columbia – Brule and Wolverine. The Company is also considering opening a third mining operation at Willow Creek. All of Conuma’s coal production is transported by rail to Ridley Terminals at the Port of Prince Rupert for export to leading global steel producers located primarily in Asia. The Brule Mine is an open pit metallurgical coal mine that produces a world class low volatile pulverized coal injection (LV-PCI) coal. It is located 45km south of Chetwynd, BC. Coal from Brule is transported by truck to the Willow Creek Mine for processing and shipping. The Wolverine mining complex is located approximately 25 km south of Tumbler Ridge, BC. It consists of an open pit metallurgical coal mine (LV-HCC), coal processing plant and a rail load-out facility capable of handling 3.5 million metric tons per year. The Willow Creek Mine is located 45 km west of Chetwynd, BC. It will consist of an open pit metallurgical coal mine, coal processing plant and a rail load-out facility. The mine will produce both LV-PCI and premium hard coking coal.
Duties and Responsibilities
- Be a partner on the executive team to ensure financial considerations have priority in all decision-making.
- Prepare and interpret financial statements, cost data, budgets, forecasts and all management information reports of the company, assisting other executives in appraising their activities in terms of financial results and commercial outcomes. Identify trends in projects/operations as indicated by analysis of reports.
- Prepare and/or review reports/ analyses as required by management in assessing alternative capital projects or other transactional decisions.
- Develop and maintain systems of internal controls to safeguard assets of the Company, overseeing the coordination and activities of independent auditors ensuring issues are resolved, compliance requirements are met, and the preparation of the financial statements is in accordance with GAAP and IFRS and other required schedules and information.
- Manage the company’s cash flow. Determine the company’s financial requirements and ensure sufficient funds are available for project/operating purposes.
- Work with the company’s shareholders, ensure that relationships with the stakeholders are cultivated and maintained, thereby maximizing the company’s ability to raise capital and obtain financing.
- Lead budgeting, forecasting and planning. Develop as accurately as possible the financial outlook for the company.
- Oversee all of the audit processes of the company.
- Develop income tax strategies and oversee preparation of required schedules and filing of applicable tax returns.
- Take responsibility for financial policies and compliance systems including internal controls, financial and risk management, corporate governance, and investor reporting requirements.
- Initiate, prepare, and issue standard practices relating to policies and procedures as necessary to ensure that adequate accounting records are maintained of all assets, liabilities, and transactions of the company.
- Assess tax implications relating to proposed transactions, and coordinate with internal and external stakeholders to ensure compliance and the best course of action.
- Define and implement policies and practices, as needed, to properly manage corporate information and records.
- Ensure the company has the best possible commercial arrangements in place with its suppliers, including architecting a supply chain strategy and ensuring comprehensive contracts are in place for all major suppliers.
- Overseeing the technology development of the company particular in the commercial IT and industrial IT spheres, ensuring these are secure, robust and resilient.
Qualifications and Experience
A bachelor’s degree in business, economics, finance, or accounting is required. 10+ years’ experience in the areas of finance, accounting, business performance, treasury, taxation and/or supply chain functions is required. Previous Executive-level financial experience in a coal operating mining company or, depending upon experience, senior controller or chief accounting office background is also necessary. International Experience is also an added benefit. An MBA, Master’s degree, CA or CPA certification is a strong preference. Experience with a coal operating mining company(ies) and or experience around the Northeast BC region is a strong preference. Experience with listed companies on stock exchanges is also desirable.
Skills and Abilities
- Ability to design, build and lead a high-performance yet lean financial and commercial function for the company.
- Entrepreneurial, team-player, detail-oriented with a focus on deliverables. The person must be able to work in a lightly structured environment where great importance is placed on results.
- The ability to think strategically and focus on the "big picture" of overall corporate goals is mandatory for success in the position.
- The capability to understand the business of mining operations/companies, such that opportunities for business combinations could be identified.
- The ability to identify and analyze alternatives to business issues with the commitment and creativity to suggest winning solutions is of particular importance in this position.
- Strong and credible presentation and communication skills (verbal and written) are essential to success in relating information and strategies to executive management within the company and to the business community in general.
- The successful candidate will be able to effectively utilize staff and consultants to realize minimal staff requirements.
- The person should demonstrate maturity in business judgment and solicit a team spirit in resolving problems so that operating personnel and administrative staff work in cooperation.
- A high level of energy and personal confidence and commitment is necessary to fit in well with the entrepreneurial spirit of management.
The Chief Financial Officer will report to the CEO. Direct reports to this position include accounting, Controller, Site Controller, budgeting, cost control and auditing. There will be frequent interaction at the board level and outside business contacts in the mining, banking, and investment communities.
Work Location / Travel
The incumbent will be expected to operate from both the Vancouver corporate office and the Tumbler Ridge Head Office, with time approximately split between the two operations.
Tumbler Ridge Head Office
#220 - 235 Front St, PO Box 2140, Tumbler Ridge, BC V0C 2W0
Vancouver Corporate Office
#2210 – 1177 West Hastings Street Vancouver, BC V6E 2K3
Wage and Benefits
- Between $240,000 - $350,000 annually
- Signing bonus available
- Share options available
- Potential of other financial bonuses
- Employee benefits such as supplemental medical, dental and vision care
- Life insurance
- Long-term disability
- Defined contribution plan – eligibility to participate in the company’s Registered Retirement Savings Plan
- Relocation expenses – if required
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