Position Title: Controller

Reporting to: Chief Financial Officer

Location: Northern NM, San Diego, CA, or remote

The company: KIIT Company Inc.

Website: www.kiit.com

KIIT Company, Inc. is a for-profit portfolio management organization that oversees established, global businesses in health and wellness and environmentally-minded categories, while also cultivating the entrepreneurial spirit of innovative ventures. The KIIT Company’s Board of Directors oversees a dedicated corporate staff to achieve KIIT’s goals, provide governance and oversight of KIIT’s subsidiary organizations and support KIIT’s shareholder.

With a strong portfolio of businesses, and an appetite for growth, KIIT is pursuing candidates who share its values: selfless service, compassion, kindness, honesty, candor, integrity, trustworthiness, comradery, inclusivity, and inspired consciousness, coupled with refined business acumen, a passion for excellence, a track record of acquiring, growing, and nurturing profitable businesses, and a history of building and developing management teams and stakeholder relationships.  

KIIT is wholly owned by the Siri Singh Sahib Corporation (SSSC), an Oregon nonprofit organization. The SSSC serves a global constituency as a member of several public charities. The KIIT portfolio of businesses and investments are values-based, balancing positive impact on the community and environment, with financial performance intended to support and advance the charitable, educational, and religious missions of the SSSC and its nonprofit member organizations.

POSITION SCOPE AND RESPONSIBILITIES:

The Controller is the accounting and financial reporting leader of the KIIT business portfolio. S/he reports to the CFO, or to the Chief Executive Officer (CEO)/ Chief Operating Officer (COO) in the absence of a CFO. This is a foundational position, within the corporate staff. A major goal is for the Controller to work closely with the KIIT CFO and subsidiary financial leadership, through a clearly defined corporate development and M&A process, resulting in the expansion and diversification of the KIIT investment portfolio.  

Primary Controller responsibilities fall into four categories: (1) financial performance management and reporting, (2) liquidity and treasury management, (3) portfolio risk management, and (4) financial reporting and analysis.

Financial Performance Management and Reporting 

• Establishes the subsidiary budget cycle as part of a portfolio company.   
• Manages subsidiary budgetary processes, historical comparisons, variances to plan. 
• Develops an acumen of subsidiary key industry performance metrics. (e.g., retail)
• Prepares portfolio monthly and quarterly management reporting. Roll-up of subsidiaries performance to plan with deep understanding of variances to KIIT Board and corporate staff. 
• Prepares monthly financial and managerial reports with analyst insights and recommendations to the KIIT board and the Finance and investment committee. 
• Prepares periodic financial reports to the sole shareholder inclusive of subsidiary holdings.
• Owns the chart of accounts. Anticipates the reporting needs of functional leadership. Will realign accounts as necessary to ensure smooth cross-coordination with financial planning and subsidiary consolidation.
• Responsible for maintaining file organization, accounting backup, and stakeholder accessibility.
• Maintains schedules for sub-ledgers such as capital projects, fixed assets, prepaid expenses, and deferral and recognition of revenue, service contracts, and commissions.
• Responsible for developing a comprehensive set of accounting policies and procedures that are consistent with company culture and meet compliance standards. Provide non-finance management with ongoing education and updates.

Liquidity and Treasury Management

• Controller has a defined reporting relationship with subsidiary finance and accounting leads with the ability to be hands-on where needed.
• Controllership responsibilities, liquidity, and cash management.
• Audit, banking, tax, and legal relationships, and outside resource management. 
• Treasury responsibilities, tax (primarily corporate income tax), regulation, and compliance. Leads multi-year income tax planning for the portfolio.
• Asset allocation process from subsidiaries to the shareholder. 
• Effectively manages annual audits and bank examinations.

Portfolio Risk Management

• Develops risk strategy, understanding probabilities, and exposure to the portfolio. 
• Assures good governance mitigating compliance risks.
• Strives to minimize financial risk by continuously improving internal controls.

Financial Planning and Analysis 

• Performs annual budgeting for KIIT and manages the budgeting process for subsidiaries in alignment with financial goals and multi-year planning.
• Oversees monthly budget to actual performance across KIIT and subsidiaries and reports to the KIIT Board and CFO.
• Sets accounting KPIs and measures performance against prior periods and industry standards for DSO, DPO, ROA, ROI, etc.

The Controller is a standing member of the KIIT Board finance and investment (IfCom) committee. Along with the CFO, the Controller actively manages (SSSC) shareholder financial reviews, budgetary and investment requests, and briefings.  The Controller provides reviews through the IfCom committee and monthly reviews to the KIIT Board. This position has global responsibilities including oversight of subsidiary financial performance overseas.   

EXPERIENCE REQUIRED

The Controller position is an “A” position within the company. It requires a “hands-on” track record of financial accuracy and cross-organizational collaboration. This position demands an understanding of financial details across the entire portfolio of businesses and investments. At this point in KIIT’s maturation, this is a builder role rather than an incrementalist. For the first 12 months of the Controller role, S/he will be designing and building processes and procedures. Connecting the corporate staff through process and governance to its subsidiaries and sole shareholder. 

• Demonstrated experience developing and executing budgeting and reporting processes with tangible and measurable results.  
• Track-record leading change management programs and initiatives with Board-level and senior management teams. Works in a professional, prepared and persistent manner to get work completed on time and on budget with boards and executives.     
• Demonstrated experience securing and working with outside resources supporting strategy development, M&A, corporate development, audit, legal initiatives.  

• Ability to create managerial financial presentations summarized at the executive-level, board-level, and shareholder-level, succinctly and with clarity. 
• Experience managing multi-year corporate tax strategy and planning.
• Experience with ultimate responsibility over financial statement accuracy and internal audit interface in a variety of industries, with emphasis on manufacturing.
• Handled multinational financial statement consolidations.
• At least 7 to 10 years of financial reporting leadership.
• M&A process and due diligence experience.
• Ability and success in implementing new reporting systems and accounting policies.
• Experience analyzing and vetting financial statements of other companies.
• Experience in matters of corporate income taxation and sales and use taxes.
• Built and managed financial teams from scratch.
• CPA (active or inactive).

PERSONAL CHARACTERISTICS  

The Controller must be self-reliant, energetic, and organized. This individual is technology-forward and unafraid of change. An important evaluation factor will be the ability to forge trustful and collaborative relationships with subsidiary leadership, the CFO, the KIIT Board, and the shareholder.  High standards for excellence are mandatory, as are outstanding written and verbal communication skills.