Director of Financial Services - Maine JobLink (2024)

at R. H. Foster Energy, LLC in Hampden, Maine, United States

Job Description

R.H. Foster Energy, LLC is a small family company that prides itself in being part of the communities they serve. Robert H. Foster started Foster Fuels as a Gulf Oil Dealership with one 1500-gallon oil delivery truck. Sales volume for the first year was 200,000 gallons of home heating oil. Today the company has over 500 employees and does business throughout Maine. R.H. Foster Energy, LLC has seven energy service locations throughout Central Maine. In addition, the company owns 23 Shell brand fuels with stores offering Freshies food.

As a Director of Financial Services, you will be part of a team focusing on providing support to the Executive Manager of Finance by overseeing all the accounting functions of R.H. Foster Energy LLC, Foster Holdings, LLC, and Pine Tree Propane.

Responsibilities Include:

• Directly responsible for the monthly closings of the R. H. Foster Energy, LLC, Foster Holdings, LLC and Pine Tree Propane general ledgers.

• Responsible for accurate Balance Sheet account balances through a monthly reconciliation process and year-end verification.

• Reconciles monthly liquid inventories, c-store inventories, and annual burner part inventories for R. H. Foster Energy, LLC.

• Responsible for annual R.H. Foster Energy, LLC LIFO calculation of liquid inventory value.

• Reconciles assigned bank accounts to monthly bank statements. Records adjusting General Ledger entries as needed.

• Prepares and Distributes monthly Accounts Receivable agers for Foster Energy and Foster Holdings, to include monthly Loan Formula and Accounts Receivable banking information for the banking certificate.

• Responsible for overall record retention policy and compliance in accordance with Federal guidelines for all companies to include organization, storing and destroying as outlined.

• Backup person for processing daily banking functions including balance reporting to Executive team, daily download of deposit account data, AR customer ACH payments and daily sweep of deposit banks. Bank contact person for updating authorized employees receiving deposit receipts, setting up new bank accounts and/or determining banking options for new R.H. Foster Energy, LLC sites. Initiates wire transfers at Bangor Savings Bank for payment to Vendors.

• Backup contact person for sales/excise tax questions from Store and Energy Services sites.

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• Research reconciliation variances and prepare and posts journal entries as necessary.

• Closes Accounting period in ERP and subsidiary systems. Imports monthly GL data from subsidiary systems to Accounting Software.

• Responsible for other month end GL entries as assigned.

• Coordinate and lead the annual audit process, liaise with external auditors and the leadership team at Foster to ensure all audit deliverables are completed in a timely and accurate manner.

• Hire and oversee leaders in the finance and accounting departments; serve as a coach and mentor and provide periodical evaluations.

• Recognize patterns in company revenues and expenses and recommend solutions to any problem areas that are identified.

• Update and implement all required accounting policies and practices; ensure the finance department's SOPs are up to date and accurate.

• Participate in the annual budgeting and planning process; able to lead the annual budget preparation in the absence of the Senior Financial Analyst. Provide support to Operations Leadership, prepare analysis as needed to identify anomalies in prior periods that would impact budgets.

• Provide advice and guidance to the Executive Team and other members of leadership regarding spending and budget questions.

• Understands the Company’s overall Credit Facility with banking partners; prepares Monthly Borrowing Base Certificate.

• Fixed Asset responsibilities include but are not limited to preparing yearly property tax declarations for all sites, filing yearly BETR application.

Individual Qualifications:

In order to excel in this role, the candidate must be capable of performing each important duty to a satisfactory level. Reasonable accommodations can be arranged to enable individuals with disabilities to perform the necessary tasks.

• Bachelor’s Degree (B.A.) and four to six years’ experience and/or training; or equivalent combinations of education and experience.

Additional Information – We Take Care of Our People

Benefits:

• Competitive wages

• Medical Insurance

• Dental Insurance

• Life Insurance

• Short and Long-term disability Insurance

• Voluntary Benefits to include Accident, Critical Illness, and Whole Life/Long-term Care

• Retirement Plan with Match

• Paid Time-off

• Fuel and Service Discounts

• Bonus opportunities

Our team is dedicated to providing high-quality services where we make a difference and build trust within our community and organization. Our team members are committed to fostering a positive work environment and use their strong problem-solving skills to mutually collaborate across departments. Don't miss out on this rare opportunity to join our team!

If you are interested in the job position, please send a letter of interest and resume with references to jburnside@rhfoster.com

R. H. Foster is an equal opportunity employer and does not discriminate on the grounds of race, color, religion, sex (including pregnancy, gender identity, and sexual orientation), national origin, age(40 or older),disability,genetic information, veteran status, or any other legally protected status.