The finalists for WashingtonExec’s Chief Officer Awards were announced March 25, and we’ll be highlighting some of them until the event takes place live, in-person May 11 at the The Ritz-Carlton in McLean, Virginia.
Next is Chief Financial Officer (Private Company, Annual Revenue >$250) finalist Todd Baker, who’s CFO of Magellan Federal. Here, he talks recent key achievements, taking professional risks, career advice and more.
What key achievements did you have in 2021/2022?
Magellan Federal was once again selected as a contractor for the Military and Family Life Counseling program beginning Feb. 1, 2021. The MFLC provides short-term, non-medical counseling services to active-duty military, National Guard and Reserves members serving in the U.S. and abroad, as well as their family members.
This is a cost-plus award fee contract and has a total estimated ceiling value of approximately $2 billion, including the base year, four additional 1-year option periods exercisable by the government annually and two 12-month performance-based Award Term Incentive Periods.
What has made you successful in your current role?
The success I’ve experienced is attributable to an exceedingly competent financial and accounting team led by subject matter experts well versed in the cost accounting, financial planning and financial system requirements needed to bid on and execute in the highly regulated FAR 15 (negotiated contract) space of government contracting. Magellan Federal would not have been able to bid on the MFLC solicitation without the advance work of this team resulting in a favorable accounting system evaluation.
What are you most proud of having been a part of in your current organization?
The opportunity to be part of a team that serves the people who serve our country. The mental health of our warfighters is critical if we want to maintain a strong national defense. Magellan Federal is comprised of many former service members who have sacrificed on our behalf, and it’s an honor to serve alongside them.
What’s the biggest professional risk you’ve ever taken?
Leaving a rewarding position in supply chain management at an established publicly traded company to take a controller role at a newly acquired privately-held GovCon services firm to develop the cost accounting and finance functions from the ground up.
What’s your best career advice for those who want to follow in your footsteps?
Be inquisitive, diligent, collaborative and open to correction in whatever career you choose.