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Director Of Accounting

Company: Mollenhour Gross
Location: Knoxville
Posted on: January 16, 2022

Job Description:

We (Mollenhour Gross, LLC MG) are actively recruiting a Director of Accounting to manage our accounting operations.
We hope to achieve three things with this posting:

  • To share context and information regarding our (MGs) operations and culture;
  • To share a description of the role; and
  • To share instructions on what to do if you (or someone you know) are a good fit for thisrole.
    The foundation of our relationship with our team is to treat each other how we would expect to be treated if the roles were reversed.Currently, there is wide information asymmetry between us (we know a lot about the role and our expectations, and you know very little).If we were in your shoes, this posting provides the basic information we would want to know.
    1 MG Context and CultureMG is a private holding company with permanent capital based in Knoxville, TN. We own and oversee a diverse portfolio of assets, including wholly-owned subsidiaries, minority investments, real estate, specialty loans, public securities, and more.Our decentralized and autonomous portfolio companies are engaged in a variety of industries, including e-commerce order fulfillment, real estate, online retail, hospitality, aerospace parts, software, and more.
    The following are some basic facts about our organization that we believe are material to your consideration:
  • MG is owned by Jordan Mollenhour and Dustin Gross, who have been business partners since 2004.
  • We have no outside investors, use debt conservatively, and have a long-term investment horizon.
  • We love business and investing its our vocation, hobby, and passion all wrapped into one.
  • Our primary activities are to seek, evaluate, invest in, and govern our investments, and to identify, recruit, incentivize, and retain exceptional people to lead, manage, support, and operate them.
  • We arent inclined towards financial engineering and prefer to solve problems and serve customers.
  • We have a small staff with a wide variety of investments this requires us to avoid managing subsidiaries, embrace decentralization, and require autonomy.
  • Among other things, we highly value humility, curiosity, honesty, character, continuous improvement, discipline, competence, entrepreneurship, and rationality.
  • Life is short, and we only want to work with people we respect, like, and trust.
    We believe that our structure and approach benefits our subsidiaries (and their leadership) in the following ways:
    • Operational Autonomy they can expect wideoperational autonomy, great independence, and control over the day-to-day operations; we dont have the desire or bandwidth to micro-manage or meddle
    • Permanent Capital we dont have investors to whom weve promised an exit or a liquidity event, so were insulated from turbulence or distractions due to prematurely or irrationally flipping an investment and returning capital to limited partners
    • Long-Term Orientation they can expect us to think and behave with a long-term mindset; they wont be beholden to irrational short-term concerns and will be relatively free to focus on long-term value creation
    • Reasonable Governance they can expect us to be rational, reasonable, considerate, sensible, and decisive in the very limited areas in which we want to have input; we strive not to burden them with unreasonable bureaucracy, red tape, meetings, or unnecessary distractions
    • Reliability they can expect us to honor and deliver on whatever commitments we make
      We expect the behavior of the MG team to comport with the following characteristics:
      • Honesty we expect them to always be frank and honest with us, especially where bad news is concerned; if we can't trust a persons word and intentions, we'd rather not work with them
      • Honor - we expect them to behave in a respectable manner that enhances their reputation and our firms reputation; no short-term gain is worth risking ones good reputation
      • Compliance we expect them to comply with all applicable laws and regulations governing the business; and to only pursue opportunities and activities well inside those bounds
      • Frugality we expect them to approach the firms resources as a conscientious steward; this means constantly holding down, avoiding, and cutting unnecessary costs
      • Prudence we expect them to protect the value of the business under their care; and to avoid putting it in jeopardy as a result of imprudent risk-taking
      • Discipline we expect them to avoid distractions and to be focused on creating value and improving efficiencies; sometimes this comes at the expense of ego-boosting growth and other 'fun' projects
      • Preparation we expect them to prepare for catastrophe, including their unexpected departure; this means having contingency plans in place and always training the next generation
      • Vision we expect them to optimize the business for maximizing long-term value creation; we aren't concerned with short-term performance except to the extent it impacts long-term value
      • Improvement we expect them to never stop learning, reading, and striving; the world of business is ever-changing and to stay on top one must never stop improving
      • Ownership Mindset we expect them to treat their business as if they own 100% of it, as if its their familys only asset, and as if they were going to own it for 100 years; this includes being shareholder-friendly and ROIC-mindful
      • Rational we expect them to make clear-eyed, pragmatic, and objective decisions; this means being an independent thinker, avoiding bureaucracy, politics, and drama, and relying on an internal scorecard
        2 Description of the Role The Director of Accounting will be a core member of the MG team and will need to be based in Knoxville, TN. We expect the salary to fall between $150,000-$225,000, depending on experience, skills, and long-term fit.We do not offer retirement plans or traditional health benefits, instead preferring to pay more salary and let you manage your personal affairs as you wish. We expect the Director of Accounting to spend most of his or her working hours at the MG office in Knoxville, but the role will be very flexible with regard to working from home and travel policy.
        The Director of Accounting will report directly to the President of MG and will work regularly with the firms founders and leadership team.
        We expect this role to primarily entail a combination of duties traditionally associated with a controller and/or an accountant, supplemented by a variety of adjacent responsibilities (see below).
        We do not expect this role to require:
        • Deep or heavy activity related to tax matters or financial planning and analysis
        • Building or managing a large accounting team (which will generally reside within subsidiaries)
          The Director of Accountings primary areas of responsibility and activity will be the following:
          • Perform daily MG accounting operations (including payroll, receivables, payables, loans, chart of accounts management, journal entries, reconciliation, consolidation, closing of books, etc);
          • Be personally responsible for the integrity of the accounting data and consolidated financial statements at MG and ensuring they are accurate, timely, and secure;
          • Within the MG team, be personally accountable for the policies and procedures to ensure the timeliness and accuracy of accounting data and financial statements from subsidiaries and investees;
          • Ensure that MGs financial reporting complies with current tax law and regulatory requirements;
          • Perform daily MG treasury operations (including security purchases, bank transfers, wires, ACH payments, bill pay, principal and interest payments, line of credit draws and payments, etc);
          • Examine, scrutinize, and challenge (if necessary) subsidiary accounting policies, assumptions, procedures, internal controls, and financial reports;
          • Oversee and support external CPA firms when auditingsubsidiaries (if any);
          • Develop, collect, organize, prepare, consolidate, and circulate financial and other data from portfolio to MG leadership;
          • Develop and maintain accounting policies and procedures (including internal controls);
          • Evaluate the competence and character of subsidiary financial leaders (CFOs, etc);
          • Assist tax and legal professionals with tax returns, legal filings, and corporate formalities; and
          • Continually optimize accounting processes to ensure faster and more accurate financial reporting.
            The Director of Accounting should have the following personality traits and preferences:
            • Integrity and character beyond reproach
            • Extremely numerate
            • Extremely organized and detail oriented
            • Dedicated to excellence and pride in your work product
            • The intellect to identify problems and the fortitude to fix them
            • Passionate and curious about business and accounting
            • An action-oriented, get stuff done attitude
            • A natural team-player and leader who enjoys being challenged by other likeminded colleagues
            • Ecstatic to work alone with numbers, spreadsheets, and financial information for several hours every day
            • Happy to collaborate with MG leadership on projects, large and small
            • Comfortable and committed to poke, prod, challenge, and when necessary lead difficult conversations and resolve difficult problems
              The following experiences and interests, while not required, would be considered a bonus:
              • Interest and judgment in investing, capital allocation, strategy, M&A, and governance
              • A credentialed CPA who is versed in tax basis accounting rules
              • Interest, skills, and/or judgment related to corporate governance such as leadership recruiting and incentives, deal structure, risk mitigation, compliance, board composition and governance, etc
                3 ApplyingIf you know someone who may be interested and qualified in this opportunity, please share this page with them.
                If you are qualified and interested, please apply by filling out the blanks on the right side of this page, and clicking 'Submit Application.'We look forward to hearing from you and will be in touch with the 'next steps.'by Jobble

Keywords: Mollenhour Gross, Knoxville , Director Of Accounting, Executive , Knoxville, Tennessee

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