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Dick Wittman offers this description for the Chief Financial Officer for your farm.

Dick Wittman, Management Consultant

April 12, 2011

4 Min Read

Xtreme Ag Enterprises - Job Description Form

Job Title: Chief Financial Officer
Reports to: Chief Executive Officer/Owner Board
Department: General/Administrative
Location: Ruralville, USA
FLSA Status: Exempt
Prepared: March 15, 2011

Primary role: oversee financial management, management information system and analytical services that help others on the management team optimize decisions.

Job Responsibilities

  • Oversee systems design and staff operations for payment of bills, collection of accounts receivable, records storage and banking responsibilities.

  • Prepare and distribute monthly and annual financial reports appropriate for board, management and responsibility center managers.

  • Oversee preparation of cash flow budget projections for key enterprises using input from responsibility center managers, and report periodically to officers and division managers on cash flow performance.

  • Analyze feasibility of capital investments (i.e. large equipment, facilities, land) with focus on optimizing procurement strategy.

  • Oversee the design and maintenance of the farm’s Management Information System including historical operating and financial data, trend comparisons and ratio analysis in key performance areas.

  • Serve as primary liaison with business accountant on preparation of state and federal income tax returns.

  • Provide oversight to staff operations related to filing periodic payroll and fuel tax reports and refund requests

  • Arrange loans for operating and capital purposes

  • Set up procedures and oversee administration of annual distributions of landlord crop shares and cost reimbursements; and maintain records on lease advances and crop shares

  • Provide financial expertise and support to owners in estate plan implementation (wills, stock buyouts and payments, etc.) and assist in implementation of business ownership transfers, capital investments, and withdrawals of equity

  • Maintain familiarity with corporate minutes, by-laws, partnership agreements, revenue sharing agreements and capital maintenance requirements

  • Serve as Technology Coordinator for farm; keep computer hardware and software updated; oversee regular backups and maintain information security systems

  • Administer records retention and disposition program; dispose of records when holding periods are met

(Optional Duties)

  • Monitor grain and livestock markets, keep updated records of current inventory positions and future production to be marketed; market commodities

  • Manage insurance program coverage for crop, casualty, medical and company funded life purposes; maintain history of claims experience, loss to premium ratios

  • Monitor USDA federal farm program provisions and insure compliance in annual cropping plans; file necessary crop plans, production reports and landlord distribution information

  • Supervise investments for pension plan and prepare periodic reports required by law

  • Oversee office maintenance, supplies, and equipment servicing & replacement

  • Shop for capital purchase items based on specifications approved by authorizing managers

  • Provide primary staff in construction of information essential for Business Strategic Planning efforts


  • Team Work - ability to work with diverse mix of owners and employees

  • Leadership/Delegation - ability to delegate and hold staff accountable for financial management and office functions

  • Problem Solving - exhibit ingenuity in researching problem-solving models and computer simulation techniques

  • Qualifications - Knowledge, skills, and abilities required to perform this job with excellence

  • Education - Minimum requirement is Masters in Business Administration, Agricultural Finance or comparable degree

  • Interpersonal skills - Work effectively in a staff support position with owners, managers, and enterprise directors.

  • Supervisory Responsibilities - Capable of overseeing variety of staff including but not limited to bookkeepers, data entry personnel and office managers.

  • Computer skills - must be proficient in Word Processing, Data Base Management, Spreadsheet and telecommunications

  • Management Information Systems - demonstrate proven experience and understanding of how an effective business Management Information System should be set up and administered.

  • Audit/Internal Controls - should possess understanding of how audits fit into business Management Control system and know how to set up proper systems of internal controls to ensure sound security and audit compliance.

  • Licenses/Certificates - CPA would be desirable but not required

  • Appraisal Experience - familiar with methodology for conducting and/or reviewing appraisals of agricultural assets.

  • Familiarity with agriculture - Must have knowledge and experience with agricultural enterprises

  • Experience - 2-3 years of actual experience working in agribusiness finance occupations

  • Managerial Accounting - familiar with standards and guidelines published by the Farm Financial Standards Council

  • Language Skills - excellent speaking and writing skills; second language in Spanish would be preferred but not required.

  • Process Improvemen - Knowledge and experience in SOP development, certification systems, efficiency audits, and techniques for improving business efficiency and compliance.

  • Work Environment - job will involve working largely in an office atmosphere, but applicant must be able to travel throughout business operating environment interacting with owners, staff, field personnel, advisors, and professional staff. Employees will be exposed to dust, odors, noise, moving equipment typical for a diverse livestock, commodity and specialty crop operation.

  • Physical Demands - Employee must be able to lift up to 50 pounds (predominantly office type resources). Vision requirements: close vision; distance vision; peripheral vision; and depth vision.

  • Employee Certification - I acknowledge, understand and agree to the job duties and requirements for this position.

Employee Name (printed) _________________________ Date _________________

Employee Signature _________________________________________________

Case Statement

(insert general description of business; scope of operation; challenges and opportunities that will familiarize applicant with the unique attractions and challenges of the job)

About the Author(s)

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