Location: Capital Region, Finland
Apply for position by: 10 December, 2023
About Solar Foods
Solar Foods is a Finnish food technology company on a mission to revolutionise global food production. The way humanity is feeding itself is wrecking the climate, the soil, and the biodiversity of the planet and is putting billions at risk. Solar Foods has found the next step in the evolution of our food system.
Solar Foods was born from a scientific research programme at VTT Technical Research Centre of Finland and Lappeenranta University of Technology. The research team discovered a way to turn emission-free electricity and captured CO2 into edible calories. In other words, growing food out of thin air. The company was then founded in 2017 with operations starting in 2018.
Solar Foods is one of the most well-funded growth companies in Finland – investors include for example Lifeline Ventures, Fazer, Finnish Climate Fund, Bridford Investments, and Agronomics Investment. Solar Foods was also selected to be a part of the European Commission’s strategic hydrogen economy core including a robust €600 million investment programme for the future years.
As Solar Foods is scaling its operations, the company is looking for a new executive to lead the finance organisation and operations. The Chief Financial Officer (CFO) – member of the Management Team and reporting to the CEO – is a key executive position responsible for overseeing the financial strategy, planning, reporting and management of the company.
The new executive is a transformational leader in the company’s food tech business who will not only guide the financial functions of Solar Foods but will also be a key influencer in strategic decision-making and business development. He/she/they provide strategic leadership, financial expertise, and innovative solutions to achieve the company’s financial objectives and drive sustainable growth. The CFO will play a pivotal role in shaping the financial future of the company and driving its long-term success. The person has a great opportunity to leave his/her/their own footprint in the world’s food revolution.
- Establish, continuously develop, and implement the company’s financial strategy, reporting and planning while also ensuring alignment with overall corporate goals and objectives.
- Forecast and manage the financial performance of the organization, including establishing and monitoring key financial metrics, and identifying opportunities for improvement.
- Raise new dilutive and non-dilutive funding for the company’s growth together with CEO and COO.
- Prepare, develop, and present regular financial reports, including income statements, balance sheets, cash flow statements, and other relevant financial analyses.
- Maintain a comprehensive understanding of the company’s financial health and its implications on business decisions.
- Monitor financial project reporting to Business Finland and EU.
- Oversee cash flow, working capital, and liquidity management.
- Develop and manage annual budgets, working closely with the Management Team and Team Leads to ensure alignment with strategic and operational goals.
- Create and maintain forecasts to adapt to changing market conditions and business needs.
- Create and implement strategy and action plan of how to organize finance function in future.
- Build, mentor, and lead a high-performing finance team, providing clear direction and fostering a culture of excellence and collaboration.
- Ensure ongoing professional development and growth of the finance team.
- Planning, specifying the requirements and needs, executing, and implementing an ERP project together with other internal and external stakeholders.
- Manage and mitigate company level financial risks by identifying potential risks and implementing appropriate controls.
- Create, develop, document, and monitor internal controls for financial processes.
- Ensure compliance with all relevant financial regulations and reporting requirements, including tax regulations, FAS reporting (possibly in future IFRS and SEC reporting), and other industry-specific standards.
- Support and contribute to the company’s preparations for a possible IPO process and ensure that the company is “IPO ready” as predetermined by the company’s strategy.
- Maintain strong relationships with auditors, financial institutions, and the related regulatory bodies.
- Work together with CEO and COO regarding the cooperation with current and potential investors and analysts.
- Cooperation with the Board of Directors and work together with CEO and COO with legal advisors when necessary.
- Management of the company’s option program together with COO.
- Provide internal support on pricing strategies, cost control, and revenue growth and profitability enhancement opportunities.
- Provide internal support e.g., in the form of financial analysis and recommendations for investments, share asset transactions such as acquisitions, divestitures, or strategic partnerships.
- 7 years of proven experience working as a CFO or in a senior finance leadership role in an international environment.
- Previous experience with funding and financing – preferably non-dilutive financing as well.
- Expertise in taking part in a successful IPO process would be considered a huge advantage.
- Strong financial and strategic planning expertise.
- Strong knowledge of financial regulations and compliance.
- Proficiency in financial software and tools, and track record of implementing successful financial system projects.
- Excellent leadership, communication, and interpersonal skills.
- Strong analytical and problem-solving abilities with an attitude of making informed, data-driven decisions.
- Ability to work in a fast-paced, dynamic environment and adapt to change.
- Strong business acumen and a results-driven approach.
- Master’s degree in finance and accounting, or a related field.
- Strong oral and written communication skills in English and Finnish (latter due to FAS exposure).
What Solar Foods offers
- You’ll have an opportunity to join one of the coolest and most promising startups in the world.
- You’ll have a meaningful and profound impact not only on the future of the food production but also on the company’s development, growth and internalization.
- You’ll get to work with a passionate and friendly growing team of scientists, chemists, food application specialists, and economists from different backgrounds and cultures.
- You’ll get a competitive compensation package.