The Role of Vice President of Finance at Altera Corporation

The Vice President of Finance at Altera Corporation (now part of Intel, following its acquisition in 2015) held a pivotal leadership position responsible for overseeing all financial activities of a leading innovator in programmable logic solutions. This role demanded a strategic thinker with a deep understanding of both finance and the semiconductor industry.

A primary responsibility was ensuring the accurate and timely reporting of financial performance. This involved managing accounting operations, preparing financial statements in compliance with Generally Accepted Accounting Principles (GAAP), and diligently fulfilling all regulatory reporting requirements, including filings with the Securities and Exchange Commission (SEC). Strong knowledge of SOX compliance was also crucial, overseeing internal controls and audits to ensure financial integrity.

Strategic financial planning was another key aspect of the role. The VP Finance collaborated closely with senior management to develop and implement the company's financial strategy, encompassing budgeting, forecasting, and long-range financial planning. They would analyze market trends, assess investment opportunities, and provide financial insights to support strategic decision-making, such as mergers and acquisitions, capital expenditures, and research and development investments.

Capital management was also critical. The VP Finance was responsible for managing the company's cash flow, investments, and debt levels. This involved optimizing working capital, negotiating financing agreements, and ensuring the company had sufficient financial resources to support its operations and growth initiatives. This might include raising capital through debt or equity offerings, always with a focus on maximizing shareholder value.

Beyond the core financial functions, the VP Finance served as a key business partner to other departments within Altera. They worked closely with sales and marketing to analyze pricing strategies and sales performance. They collaborated with engineering to assess the financial viability of new product development projects. And they partnered with operations to optimize manufacturing costs and improve supply chain efficiency.

Effective leadership and team management were essential. The VP Finance led a large team of financial professionals, including controllers, accountants, analysts, and treasury specialists. They were responsible for recruiting, training, and developing talent within the finance organization, fostering a culture of high performance and ethical conduct. They also needed strong communication skills to effectively present financial information to senior management, the board of directors, and external stakeholders, including investors and analysts.

Ultimately, the Vice President of Finance at Altera Corporation played a vital role in driving the company's financial performance and supporting its long-term success in a highly competitive industry. The role required a combination of financial expertise, strategic thinking, business acumen, and strong leadership skills.