• Scholastic
  • $205,500.00 -205,500.00/year*
  • New York, NY
  • Executive Management
  • Full-Time
  • 21 Warren St

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Director: Profit Optimization Initiatives

THE OPPORTUNITY/ RESPONSIBILITIES

Overview

* Scholastic, Inc. has committed to increasing operating profit from FY2018 through FY2021. Most of this increase in profit falls under a corporate-run program referenced as Plan 2020. The Plan 2020 program sponsors and oversees a limited portfolio of well-defined projects designed to enable business adoption of new technology, facilitate business process improvements and improve companywide profitability.
* Given the increase in project investment across the company, we are looking for a highly motivated individual to help guide teams in quantitatively analyzing and executing profit optimization initiatives and monitoring, tracking and reporting against metrics, financial measures, and other indicators of success. The individual that fills this important position will be motivated by outcomes, methodical in working through complex problems, be able to quickly learn new concepts, processes, and functions, and leverage data to drive changes and measure the impact of those changes. The work will vary in focus depending on the priority of the project from operations initiatives to sales and marketing opportunities but will always need to tie back to metrics and financial measures that drive Plan 2020 outcomes. On most of these projects, there is an important role technology will play in enabling success so the right individual will be a able to productively engage with the technology and data organizations to accomplish goals.
* The position will report to VP of Portfolio Management who you will join working as part of a cross-functional team to deliver against Plan 2020. The individual in this role will rely on information and expertise provided by Data and Analytics, Operations, Corporate Finance, Business Finance and Corporate Accounting, and be located in Scholastic's New York City corporate headquarters.

Objectives

* Quarterback high priority initiatives starting with assessing the problem, sizing the opportunity, contributing to the planning efforts to achieve the opportunity, and building a financial business case and corresponding metrics we can use to track the opportunity.
* Take ownership in executing workstreams as part of project plans which may require but not be limited to designing new processes, establishing new methods for having data drive decision-making and processes, working across teams to facilitate executive decisions by evaluating options and supplying recommendations, and employing scalable methods to track efficacy of these changes.
* Leverage financial experience to work with teams to determine income statement and balance sheet impacts and timing of those impacts. Identify additional areas of opportunity based on understanding of business unit P&Ls and the operational drivers behind revenue and cost line items. Establish business cases for initiatives and hold teams accountable for achieving the benefits and managing investments outlined in those business cases.
* Serve as a 'tollgate' on complex proposals that require substantial investment to assess financial viability. Establish an ongoing and efficient process to quantify financial results of proposed efforts and narrow in on those efforts that will yield the most substantial return and clearly outline the timing of benefits.
* Actively monitor these key metrics (financial, operational and other) that indicate progress against key projects. Produce periodic (usually quarterly) reports tracking progress against the original project business case approved by the RAC (Resource Allocation Committee)
* Cultivate relationships with key constituencies: operations, sales and marketing teams, corporate accounting, corporate finance, STS, operations and business finance to engage on project work and provide periodic reporting
* Assist the VP of Portfolio Management and CTO/Head of Operations in providing executive level updates to the C-suite and Board of Directors

Tasks

* Develop detailed financial business cases with tie-in to the project plans
* Establish a process for rapid quantification of costs and benefits for purposes of prioritization
* Lead teams in the direction of opportunity by understanding the P&L and areas of opportunity to impact the P&L through specific actions.
* Develop and identify key metrics that indicate the status of these projects.
* Create ongoing tracking reports for operating and senior management
* Assist in the development of reporting to the Board of Directors on project performance.
* Collaborate with corporate finance and corporate accounting to track capital, prepublication/preproduction spending.
* Additional project work (as required).

HOW YOU CAN FIT

* Experience assessing company financial statements, creating complex financial models, and understanding how strategies will impact those financial statements. Prior experience in private equity, consulting, and banking a plus
* Well versed in the creation of complex business case assessments, inclusive of one-time and recurring investments and offsetting expenses and benefits. The ideal candidate will clearly lay out assumptions with a strong understanding of how costs and benefits will be tracked and realized. The business case detail should serve as a blueprint for helping to guide the value and focus of the initiative for respective implementation teams.
* Competency and experience in being able to construct budget analyses based on a portfolio of initiatives and functional efficiencies across teams as part of the larger operations budget. This includes being able to construct bridges, time-based comparisons, and express metric-explained efficiencies to aid in organization-wide understanding of budget positions and margin contribution.
* Familiarity in establishing frameworks to evaluate options - laying out the merits and downsides and putting forth fact-driven analyses and recommendations to help the executive team accelerate decision-making
* Track record and willingness of rolling up sleeves to help execute projects, including direct accountability for successfully completing workstreams and achieving goals
* Understanding of how costs and savings map to financial statement outcomes and more specifically, how they impact profitability on a year-over-year
* Understanding how basic driver metrics underlying businesses that delivers physical product to and from institutions and to end customers impact financials. The ideal individual will be able to trace how a given change in a driver metric relates to fluctuation in company expense as a means for explaining variations to forecast and prior periods. These driver metrics will help provide leading indicators to help steer or course correct operations (in) efficiencies.
* Experience with hands-on management over resources that may be constructed on the fly as initiatives take shape. The ideal candidate is comfortable steering and organizing a team, starting with a vision and plan to implement and realize the benefits of various priority initiatives.
* Strong track record in delivering executive messages and presentations. Ability to distill complex concepts for digestibility by various audiences at different levels of the organization in accounting treatment of investments and benefits as it translates to financial statement impact is a must.
* Willing and enthusiastic to learn about the organization and the nuanced details of functions to help shape the results of work that drives efficiency into our operations.
* Bachelor's Degree and CFA in finance or accounting or similar degree
* A minimum of 12 years of experience in a Financial Analyst or Operational role; leading broad change initiatives e.g. (adoption of new technology, business process improvements, mergers & acquisitions etc.) Additionally, there is a strong preference for a candidate with an MBA and/or a CFA. While knowledge of publishing or education is not required, experience in this type of business is preferred.

WHO WE ARE

Scholastic Corporation (NASDAQ: SCHL) is the world's largest publisher and distributor of children's books, a leading provider of core literacy curriculum and professional services, and a producer of educational and entertaining children's media. The Company creates quality books and ebooks, print and technology-based learning programs for pre-K to grade 12, classroom magazines and other products and services that support children's learning both in school and at home. With operations in 14 international offices and exports to 165 countries, Scholastic makes quality, affordable books available to all children around the world through school-based book clubs and book fairs, classroom collections, school and public libraries, retail and online. True to its mission of 97 years to encourage the personal and intellectual growth of all children beginning with literacy, the Company has earned a reputation as a trusted partner to educators and families. Learn more at www.scholastic.com.

Some benefits that we offer:

* 100% vested of 401(k) Retirement Plan after 5 years employment
* Up to 1M worth of supplemental Life Insurance
* Tuition Reimbursement
* Purchase Scholastic stock at a 15% discount

Thank you for your consideration in choosing Scholastic.


Associated topics: audit, bank, budget, chief finance officer, director finance, expense, financial controller, financial planning, fiscal, invest

* The salary listed in the header is an estimate based on salary data for similar jobs in the same area. Salary or compensation data found in the job description is accurate.

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