Job Title: Chief Financial Officer
Department: Finance & Administration
Reports to: CEO

The Chief Financial Officer is part of the senior team leading the Company's next phase of growth, expanding from clean technology research and development to large scale commercialization. The CFO will be responsible for all financial matters associated with planned growth and will work closely with the CEO and the Board of Directors in developing business and financing strategies in this dynamic market environment. The ideal candidate will bring demonstrated leadership and a successful track record in high growth, capital intensive companies. The CFO will develop and leverage positive relationships with strategic partners, financial institutions, and current and new potential investors. Negotiating and securing equity and debt capital from private and public sources are important short term priorities contributing to Virent's success.

Essential Duties and Responsibilities

Financial Management and Leadership
• Plan, develop, organize, implement, direct and evaluate the organization's fiscal function and performance.
• Manage all internal and external financial reporting in accordance with GAAP.
• Improve the budgeting and forecasting process through better modeling frameworks and education of project and department managers on financial issues impacting their budgets.
• Oversee risk management and maintaining proper levels of insurance coverage.
• Coordinate the annual credit audit and oversee the preparation of corporate tax returns.
• Oversee readiness of accounting system for the regulatory and accounting requirements associated with government grant funding including government accounting compliance and budgeting.
• Develop a reliable cash flow projection process and reporting mechanism which includes minimum cash threshold to meet operating needs.
• Supervise and prepare monthly financial reporting package for management, investors and other parties which summarizes the operating results including quarterly reports for outside investors, creditors and government entities.
• Develop documents and monitor internal controls, procedures and accounting policies, especially those required in advance of a public offering.

Relationship Manager
• Manage relationship with outside auditors.
• Oversee relationship with outside valuation firm, including provisioning of accurate and current data and materials to that firm as part of their valuation work.
• Manage overall banking relationship, including oversight of bank and deposit relationships and institution of appropriate strategies to enhance cash position and appropriate debt instruments.
• Forge and manage relationships with outside investors (both existing and potential), relevant industry analysts, possible funding sources and key investment bank contacts.

Create and Inform Company Strategic Direction
• Participate in the development of the corporation's strategic plans and programs.
• Evaluate and advise on the financial impact of long range planning, introduction of new programs/strategies and regulatory actions.
• Provide strategic financial input and leadership on decision making issues affecting the organization; i.e. prioritization of resources, analysis of a possible public offering and evaluation of potential alliances acquisitions and/or mergers.
Financing Strategy
• Support and help manage all fundraising efforts of the Company, including future venture and/or investment rounds, debt instruments, government grants and loans, strategic collaborations and/or public offerings.
• Evaluate financing alternatives for intensive capital equipment projects, such as future demonstration and manufacturing facilities.
Board of Director Interactions
• Participate in Board of Director meetings including preparation and presentation of current and forecast financial performance, risks and priorities.
• Support and interact with the Audit Committee to ensure Committee members are provided required information and materials with necessary access to outside accountants.
• Support management of corporate stock option program and maintain stock ledger.

Organization Leadership, Performance Management and Personal Impact
• Provide key leadership for financial performance management and resource allocation through the timely and accurate analysis of budgets, financial reports and financial trends in order to assist the CEO/President, other senior executives, project managers and the Board in performing their responsibilities.
• Manage the Company's financial software system and broader responsibility for IT.
• Develop, enhance, implement and enforce systems, policies and procedures that will improve the overall controls, operation and effectiveness of the corporation, as well as prepare the Company for a public offering.
• Evaluate the finance team organizational framework for continual improvement of the efficiency and effectiveness of the group as well as providing individuals with professional and personal growth.
• Demonstrate excellent presentation skills externally, at Board level and companywide.

Decision Making Authority

• This position is a member of the Executive Management Team.
• This position carries a high level of decision making authority regarding strategy, staffing, planning, and work flow.
• Authority to enter into agreements, establish operational procedures and authorize payments.
• Manage IT and Financial Departments.
• Works closely with CEO to optimize financial strategies and priorities.

Minimum Education and Experience Requirements
• EDUCATION: B.S. Accounting, CPA, MBA Finance a plus
• EXPERIENCE: 10 to 15 years of increasing responsibilities in high growth and capital intensive industries

Knowledge, Skills, and Abilities necessary to perform essential functions
• An experienced leader and financial executive with 10 to 15 years appropriate industry experience.
• An energetic, forward-thinking and creative individual with high ethical standards and an appropriate professional image.
• Ability to succeed in a fast-paced environment and complete work with sense of urgency, working on multiple projects with constantly changing priorities and deadlines.
• Accurate and confident in analyzing and presenting financial information.
• A demonstrated strategic visionary with sound technical skills, analytical ability, good judgment and strong operational focus.
• An intelligent and articulate individual who can relate to people at all levels of an organization and possesses excellent communication skills.
• A good educator who is trustworthy and willing to share information and serve as a mentor.
• An excellent negotiator with experience in shaping and implementing key strategic contracts.
• Decisive individual who possesses a "big picture" perspective and is well versed in systems.
• Significant public accounting experience and capability to communicate effectively with analysts, investors and other interested parties.
• CPA with at least ten years of increasing financial accounting experience, with 10 or more years of experience supervising an accounting staff.
• SEC reporting experience.
• Strong PC skills, especially using Excel. Financial modeling experience.

Physical/Environmental requirements
• Physical Activities: Sitting, Standing, Walking, Talking, Handling, Fingering, Grasping, Keyboard Use, Hearing, Seeing, Lifting 10 - 20 lbs)
• Level of Physical Requirements: Sedentary
• Level of Visual Acuity: Clerical
• Environmental Conditions: Work will be performed in an office environment. Considerable stress may occur at times and travel is required.
• The position is based at Virent's offices in Madison, Wisconsin and is not suited for long distance commuting.

42284-CJB-0@virent.hrmdirect.com