VP of Finance

Make a Difference with Füm

Füm exists to accelerate humanity's departure from destructive habits and empower individuals to be free to become their optimal self. Join us on our mission to help 1 million people quit vaping or smoking by 2026. Our patented, award winning flavored air device is designed to help people to achieve their full potential by replacing their bad habit with The Good Habit™ - that’s us!

Company Values

Our culture sets us apart and helps us identify our best fit candidates for new roles. Review our values below to see what type of team you’d be joining. We love CHEWI team members!

• Can-Do Attitude: Are you someone who starts with ambitious goals and finds optimistic, resourceful, proactive, and creative methods to achieve them?
• Honesty: Are you committed to actively communicating and building trusting relationships through open and honest interactions?
• Empowerment: Do you want to join a team where you will support other ambitious and talented people to achieve their goals, and be supported in return?
• We Over Me: Are you someone who looks at the bigger picture and takes ownership of the team's success by making it a priority for everyone to succeed?
• Integrity and Commitment: Can you be relied upon to do what you say you will, when you say you will do it? If not, are you comfortable owning it and making good on the shortcoming?
  
  

Why You’ll enjoy working at Füm

Füm takes great pride and works hard to establish and manage employee-progressive policies that create satisfying and rewarding work experiences for our team.

• Have an impact - We are a mission-driven organization that has a direct impact on the health, quality of life and happiness of our customers. We are proud to achieve a 40% efficacy score, and are on track to help 1 million people quit vaping and smoking by 2026.
• Advance your career - We are a fast-growing company, giving our team a unique experience while creating career advancement opportunities in our growing organization, as our workforce scales to meet market demand for our products and services.
• Rewarding Compensation - We reward high performance, and structure our salaries and bonuses around unique KPIs for each role. We also allocate a profit sharing fund for our employees, which is distributed annually during the holiday season.
• Work from Anywhere - We have built our company around a remote-first culture, which means that you will enjoy saving time and money commuting to the office. Instead, you get the freedom to blend your work and life in a way that allows you to perform to your full potential!
• Unlimited Paid Time Off (upon approval) - We value work-life balance, and understand its role in the wellbeing and productivity of our team. Our unlimited PTO policy is designed to give you autonomy in managing your time off, while ensuring that the needs of your job are met.
  
  

Position Overview

The VP Finance is a key member of the Executive team that is responsible for leading the finance department at FÜM, including day to day execution, accounting, reporting, forecasting, assists with obtaining financing and contributes to company strategy. The VP Finance reports directly to the CEO and has seniority over the Finance team.

Role Mission

The mission of the VP Finance is to help FÜM achieve its vision and mission through ensuring that the company has the financial systems and resources necessary to reach its mission. This role is crucial in FÜM’s mission due to the fact that the company is rapidly scaling and will need robust financial systems to serve customers and reach its potential. The VP Finance aims at being able to maintain and build all financial systems, forecast future cashflow needs, contribute to securing appropriate funding, and make strategic considerations in regards to profitability and prioritization. The role works side-by-side with the part-time Treasurer, who oversees the day to day funds management, and will continue to be the primary contact for banks, lenders and investors. (The Treasurer may retire in the not too distant future).

Responsibilities

The responsibilities of the VP Finance:

• Execution all financial transactions (except funds management)
• Manage and oversee all AR and AP flows
• Working with our outsourced bookkeeping firm, recording of all financial transactions
• Setup of finance systems
• Making sure all financial transactions are recorded properly and timely
• Build a system for weekly and monthly results reporting
• Making sure on-time financial data is available to executive team
• Understanding the fundamentals of the business and actively innovating ideas for improving profitability and efficiency
• Creating new financial systems to meet business expansion needs
• Support the expansion into retail sales. Füm recently began selling its product to retail stores in Texas, and this will expand further. The VP Finance will design and implement the accounting processes to support retail sales, including the integration of Salesforce into QBO.
• Participate in the integration of the accounting systems with the new (Feb 2024 live date) ERP system
• Corporate Income Tax compliance for multiple jurisdictions
• Oversee all Sales tax filings in US, Canada and abroad through Avalara.
• Ensure expenses incurred are legitimate while keeping formal approval processes to a minimum. This requires a growing understanding of the supplier and service provider relationships and the patterns in the expenses to identify unusual items and follow up as is appropriate.
• Be the main point of contact for the external accountants
• Lead the transition from current notice to reader financial statements to reviewed/audited financial statements
• Formulation of financial data for executive team
• Forecasting of business financials
• Assist with securing of financial resources for business growth and stability
• Represent finance considerations in strategic decision making processes
  

Key Performance Indicators

• Profitability
• Revenue
  
  

Proficiencies

• Integrative thinking: Ability to understand the many facets of the business and their financial implications
• Macro-Trends Awareness: Understanding of financial trends and how they could impact FÜM going forward
• Rapid System Building: Capable of meeting rapidly changing financial conditions.
• US, Canadian, and International Tax Knowledge: Ability to ensure compliance and accuracy across multiple currencies and jurisdictions.
• Forecast Building: Able to take past company performance and current conditions to make accurate projections.
• Consumer Product Experience: Previous experience in a company with both DTC and retail channels.
• Experience with securing debt financing from various sources
• Facilitation of funding rounds and exit processes
  
  

Compensation

The compensation will be salary in the range of $150k-200k CAD annually, with additional bonuses based on personal and company performance and the possibility of additional compensation in the form of options. This is a full-time salaried position.

Hours

It is expected that this position is responsibility based not hourly based. A minimum amount of hours is required but not monitored. Itis expected that the VPF is putting in whatever is required to push the company to success and manage the responsibilities which have been assigned to them.