Recently named one of Entrepreneur magazine’s Top 100 Cannabis Leaders, Cresco Labs is one of the largest vertically-integrated multi-state cannabis operators in the United States. Cresco is built to become the most important company in the cannabis industry by combining the most strategic geographic footprint with one of the leading distribution platforms in North America. Employing a consumer-packaged goods (“CPG”) approach to cannabis, Cresco’s house of brands is designed to meet the needs of all consumer segments and includes some of the most recognized and trusted national brands including Cresco, Remedi and Mindy’s, a line of edibles created by James Beard Award-winning chef Mindy Segal. Sunnyside*, Cresco’s national dispensary brand is a wellness-focused retailer designed to build trust, education and convenience for both existing and new cannabis consumers. Recognizing that the cannabis industry is poised to become one of the leading job creators in the country, Cresco has launched the industry’s first national comprehensive Social Equity and Educational Development (SEED) initiative designed to ensure that all members of society have the skills, knowledge and opportunity to work in and own businesses in the cannabis industry.
At Cresco, we aim to lead the nation’s cannabis industry with a focus on regulatory compliance, product consistency, and customer satisfaction. Our operations bring legitimacy to the cannabis industry by acting with the highest level of integrity, strictly adhering to regulations, and promoting the clinical efficacy of cannabis. As Cresco grows, we will operate with the same level of professionalism and precision in each new market we move in to.
As Cresco continues to expand its Finance teams, we are seeking a Senior Vice President to lead our Treasury function. This individual will own Cresco’s cash positioning and cash transaction strategies while ensuring full support of all related regulatory requirements.
This individual will be Cresco’s cash management expert by combining their skills in large company treasury management with market analysis and insights to create and execute optimal strategies with Cresco’s leadership team. This role will also maintain professional, reciprocal partnerships with our creditors and other external stakeholders, while managing an internal team.
CORE JOB DUTIES
- Oversees the daily cash and investment management strategy to ensure optimal operating liquidity and to meet all debt obligations
- Designs and implements strategies relating to all aspects of the company’s capital structure, including cash forecasting, optimal cash balance, and optimal mix of debt structures
- Develops and evolves Cresco’s Treasury policies and procedures; ensures all activities follow SOX compliance and oversees regular testing in accordance with these regulations
- Partners with the tax team to ensure treasury policies support proper tax planning
- Continuously assesses Cresco’s internal compliance mechanisms to ensure controls indisputably meet all regulatory standards; implements improvements to existing controls where needed
- Leads and mentors a large team in developing and executing Cresco’s ideal cash strategy while minding compliance factors
- Seeks opportunities to stay current with market data and industry trends; shares their findings with their team members as appropriate
- Identifies and implements KPIs for team members that align with Cresco’s growth strategy
- Maintains positive external relationships with creditors and works with Investor Relations to provide transparent and appropriate insight into Cresco’s cash flow/operating cash status
- Analyzes the company’s performance regarding assets, debts, and cash flow to provide recommendations for improvement
- Issues regular status reports and ad hoc reports to senior leadership through both verbal presentations and written assessments
- Identifies and implements software to centralize reporting for critical financial information
- Provides strategic guidance around capital financing options to support company growth needs
REQUIRED EXPERIENCE, EDUCATION AND SKILLS
- Bachelor’s degree in Finance/Accounting, required
- Master’s Degree and/or CPA/CFA/CTP, preferred
- 10+ years’ experience in senior level finance role, including 5+ years leading a large team required
- 5+ years’ experience in a publicly traded company, required
- Experience working in a highly regulated industry, a plus
- Proficiency using MS Office suite, particularly Excel and PowerPoint
- Knowledge of automated financial reporting systems, including BI reporting, dashboard, modeling, and KPI development
- Expert knowledge in capital markets, economic theory, and U.S. regulatory environment
- Flexible, ‘hands-on’ leadership approach required
- Must be 21 years of age or older to apply
- Must comply with all legal or company regulations for working in the industry
Cresco Labs is an Equal Opportunity Employer and all applicants will be considered without attention to race, color, religion, sex, sexual orientation, gender identity, national origin, veteran, or disability status.