N-Zone is a rapidly expanding video game development studio, recognized for its innovation and ambition in the interactive entertainment sector. To support its growth and strengthen its financial structure, the company is currently seeking a dynamic and experienced Chief Financial Officer (CFO).

FINANCE

Budgets

Each manager must prepare their budget for the following year based on their knowledge of their market, their challenges, and the directives received from the CEO, but also on the basis of information exchanged with the CFO. The CFO must take an active part in the budget development process (and not simply sum up each individual’s spreadsheets). They must play a proactive, critical, analytical, and, if necessary, educational role, with the support of the CEO.

This process should enable:

• The establishment of profit and loss and cash flow budgets, in collaboration with operational managers.
• The presentation of the budget summary to the CEO.
• Comparison with new forecasts established during the year by managers, as well as highlighting significant variances.

Forecasts

During the year, the finance department must update, at least quarterly, the forecast of the income statement and cash flow for the remaining periods until the end of the year (= re-forecast).

This forecast must include a range (high/low) for profit and cash flow, and provide a comparison with the budget and the previous year’s results.

Reporting to the CEO

Reporting of results and cash flow must be:

• Regular (monthly)
• Prompt (within 15 days)
• Accurate

It must also periodically include certain other elements (disputes, customer and supplier balances, credit lines, guarantees, etc.).

The report must be presented to the CEO each month.

Reporting to the Board of Directors

The CFO assists the CEO in reporting to the Board of Directors each quarter, and in the process of presenting the budget to the Board for approval of the annual budget.

Reporting to Shareholders

The CFO prepares all the documents necessary for the approval of the accounts by the General Assembly and assists the CEO in presenting the figures to the shareholders.

Internal Control

Internal control includes:

• Verification of the quality of detailed accounts, highlighting warning signals on certain points.
• Implementation of internal procedures, in collaboration with operational managers.
• Monitoring of the application of these procedures and highlighting malfunctions at all levels.

External Audit

The CFO must manage the relationship with the auditors.

Banking Relations

The CFO ensures regular information is provided to the banks on the company’s financial situation.

Banking relations also include:

• Monitoring of all specific points (investments, administrative documents, updates of signing authorities, Isabel, etc.)
• Negotiation of credit lines to ensure the financing of working capital needs and investments.

Tax Shelter

The CFO is responsible for preparing fundraising files with Tax Shelter organizations, and all the reports necessary for the successful completion of each file.

Statutory Accounts

The CFO is responsible for the accuracy of the statutory accounts.

Cash Management

The finance department must:

• Establish a cash flow forecast.
• Invest surplus cash in an optimal manner, in accordance with the general risk guidelines decided by the CEO.
• Ensure the improvement of working capital requirements (in particular, outstanding customer and supplier balances), advance tax payments, etc.

Risk Management

• Define a framework for reporting risks and disputes.
• Implement a policy for managing and hedging currency risks.
• Monitor the follow-up, by each operational manager, of the risks related to their activity (ongoing projects, outstanding customer balances, social, commercial or other disputes).

The finance department must also take charge of the insurance aspect for all general and specific risks.

Investments

It is essential to establish investment files in a professional manner, ensuring the optimization of the financing of each project. The centralization of investment proposals, prepared by the managers, and the control of compliance with the investment decisions made by the CEO are also essential.

Debt Management

The finance department is responsible for financing the business. It must propose and manage the use of external financing (particularly from banks, investors, public bodies, etc.).

This includes the negotiation of credit lines and their conditions of use.

Remuneration

The CEO decides annually on the salary policy (increases within budget envelopes, etc.). The finance department must:

• Centralize the annual proposals for changes in remuneration prepared by the managers.
• Control compliance with the policy decided by the CEO.

Tax Management

Optimizing the tax situation is a priority. The finance department must also monitor tax and social security audits, in collaboration with accountants, HR, or external consultants if necessary.

Subsidies

Obtaining subsidies must be analyzed according to the company’s projects, the volume of employment, and any other relevant element.

Supervision of Accounting

The finance department has hierarchical authority over the accountants.

Acquisitions

The acquisition process goes:

• From the analysis of files
• To practical pre-acquisition assistance to the managers involved
• Including careful monitoring of due diligence, contractual aspects, etc.

ADMINISTRATION

Administrative Management

The CFO supervises the people in charge of reception (including telephone) and administrative secretariat, responsible for invoicing and collection from customers.

The CFO is responsible for drafting grant applications in close collaboration with the teams involved in each project, particularly for calls for projects, the Tax Shelter, European subsidies, and other financing mechanisms. He or she collects information from the various collaborators, compiles this data in order to produce a clear and structured file, and ensures the administrative and financial follow-up of these projects.

Human Resources Management

The CFO supervises the head of recruitment and payroll. Operational managers retain the management of their teams, with the support (staff) of the HR manager.

Human resources management also includes:

• Management of the company car fleet
• Pension insurance
• Benefits in kind

Legal Management

Legal aspects include:

• Company law: general secretariat (minutes of formal meetings), authentic deeds, examination of specific problems
• Accounting, social and tax law (see above)
• Commercial law: general terms and conditions of sale, specific commitments (SLA, etc.)
• Monitoring of disputes

These points are managed in relation to internal stakeholders and external advisors (lawyers, etc.).

IT Management

The CFO supervises internal IT (ERP, messaging, server management, CRM, internal support, etc.), with the help of internal and/or external collaborators.

He/She defines the objectives and proposes the investment budgets (calculation of TCO and ROI).

Purchasing Management

• General expenses purchases are made by a person reporting to the finance department.
• The purchase of equipment, software, and subcontracting services by BU managers must be validated by the finance department.