Director of Finance (Marine Industry)
Oversees the financial health and strategic planning for marine vessel and equipment manufacturing companies.
Overview
The day-to-day reality of this role involves a blend of rigorous cost accounting and strategic financial forecasting. Because marine manufacturing often involves high-ticket items with long production cycles, the Director of Finance must meticulously track work-in-progress inventory and supply chain fluctuations. The rhythm of the work follows both seasonal demand cycles and multi-year product development phases, requiring a high degree of precision in cash flow management and risk mitigation.
Professionals who excel in this field typically possess a strong grasp of manufacturing operations and a genuine interest in maritime engineering. Success depends on the ability to bridge the gap between complex engineering requirements and bottom-line profitability. The role requires a steady hand during economic shifts that impact luxury and commercial maritime markets, necessitating constant analysis of market trends and raw material costs.
Financial leadership thrives on data-driven decision making and cross-departmental collaboration.
Responsibilities
- Direct the preparation of monthly, quarterly, and annual financial statements for marine manufacturing divisions.
- Establish robust internal controls to manage high-value inventory and raw material procurement costs.
- Analyze production variances to identify inefficiencies in the boat building or assembly process.
- Evaluate capital expenditure requests for shipyard upgrades or new manufacturing technology.
- Manage relationships with external auditors, tax authorities, and financial institutions specializing in maritime credit.
- Develop long-term financial models to support the launch of new vessel lines or international market expansion.
- Lead the annual budgeting process across engineering, sales, and production departments.
Qualifications
- Bachelor's degree in Finance, Accounting, or a related field.
- Professional certification such as a CPA, CMA, or Chartered Accountant designation.
- At least ten years of experience in senior financial management, preferably within a manufacturing context.
- Expertise in cost accounting systems and Enterprise Resource Planning (ERP) software.
- Proven experience in managing multi-million dollar budgets and complex financial audits.
- Strong understanding of international trade regulations and maritime industry standards.
Nice to have
- Master of Business Administration (MBA) with a focus on manufacturing or supply chain management.
- Prior experience working specifically within the marine or boating industry.
- Advanced proficiency in business intelligence tools and predictive financial modeling software.
- Familiarity with environmental compliance costs and sustainable manufacturing incentives.
Work environment
- Standard office setting located within or adjacent to maritime manufacturing facilities or shipyards.
- Collaborative environment requiring frequent interaction with production managers and engineering teams.
- Regular business hours with increased intensity during quarterly closings and annual budget cycles.
- Occasional travel to satellite manufacturing sites, international suppliers, or industry trade shows.
- Heavy reliance on integrated ERP systems, specialized accounting software, and data visualization tools.
Benefits & growth
- Total compensation often includes significant performance-based bonuses tied to production efficiency and profitability goals.
- Career progression typically leads to Chief Financial Officer (CFO) or Chief Operating Officer (COO) roles within the marine sector.
- Participation in industry-specific executive leadership programs and global maritime conferences.
- Comprehensive benefit packages often include executive-level health insurance and retirement contribution matches.
- Professional development support for maintaining advanced accounting certifications and executive education.
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