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CFO (Money Service Business)

Chicago, IL 60611 US

Posted: 03/22/19 Employment Type: Direct Hire Industry: Chief Financial Officer Job Number: 12604
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Our client provides consumer and commercial international money transfer services with a focus on Eastern Europe. Our client will relocate the right candidate.

Position Summary

The CFO is a key member of the US management team of money service business. The role is responsible for building out and managing the North American Financial Control (operations), Treasury, Financial and Regulatory reporting, Money Transmitter Licensing, Accounting, and HR functions.

  • Plan and execute the financial strategy of the company
  • Manage financial controls and accounting procedures including transaction settlement, permissible investments, collateral and surety bonds
  • Ensure cash flow is appropriate for the organization’s operations
  • Monitor affiliate outsourced financial control work processes
  • Ensure full transparency over the financial performance of the company
  • Provide advice and guidance on how to increase revenue and reduce costs
  • Effectively and clearly communicate potential risks in a timely manner
  • Propose action plans to ensure that annual financial objectives are attained
  • Prepare monthly and annual budgeting
  • Prepare reliable current and forecasting reports
  • Build and manage a team to oversee all financial, accounting, tax and audit responsibilities
  • Support the CEO with raising capital and debt financing
  • Oversee the annual financial audit process
  • Manage licensing and regulatory filings
  • Manage tax filings for city, state and federal levels
  • Manage vendor relationships

Decision Making Authority

Examples of decisions this role can make:
  • Establish controls in accounting
  • Requires CFO sign off on new projects and business changes to ensure the group can continue to meet their objectives.
  • Negotiate rates and contracts with financial service providers
  • Establishment of new banking relationship

Position Requirements
  • A Bachelor’s degree in Finance or Accounting from an accredited university
  • 15 years of senior financial management experience with a track record of success in FinTech and/or financial services
  • Financial management experience in an early stage company
  • 5 years corporate accounting experience including consolidations, foreign currencies
  • 10 years experience supervising at least 15 employees including objective setting, periodic reviews, and employee development
  • CPA or MBA
  • In depth knowledge of corporate financial law and risk management practices
  • Excellent knowledge of data analysis and forecasting methods
  • Expert level spreadsheet, database, and reporting skills
  • Proven verbal and written communication skills
  • Hands-on, highly effective, results-driven, efficient, detail-oriented
  • Ability to meet deadlines.


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Gregory Eidlen

Chat live with me @ Gregory Eidlen is our Manager of Operations. He is responsible for all operational issues related to temporary staffing, databases, customer service, contracts, and social media. Holding a Master’s Degree in Industrial Organizational Psychology from Touro University Worldwide, Gregory heads our consulting division offering first-hand experience coaching and monitoring business employees. In addition, Gregory also holds a Bachelor of Arts degree in Psychology from The College of Staten Island/City University of New York. Gregory is recognized as a Certified Personnel Consultant (CPC) and Certified Temporary Staffing-Specialist (CTS) by the National Association of Personnel Services (NAPS). The American Staffing Association (ASA) recognizes Gregory as a Technical Services Certified (TSC) as well as a Certified Staffing Professional (CSP). Gregory has over four years of customer service and managerial skills with a major retail chain. If you would like to chat with me please go to:
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