New Opportunity: Chief Financial Officer with Superfeet
Company Overview
For more than 40 years, Pacific Northwest-based Superfeet has been creating innovative insoles featuring the Superfeet shape, helping millions of people worldwide experience unparalleled comfort, pain relief, and performance. Through the latest advancements in 3D-printing technology, Superfeet is breaking down barriers associated with custom products by providing easier access to state-of-the-art personalized fit. Today, we remain true to the original mission of Superfeet – to create affordable orthotics for the general public – while weaving our vision, purpose, and core values into every decision we make. Superfeet is available at premier retailers such as REI, Dicks Sporting Goods, Fleet Feet, and numerous others. These high-quality insoles are sold globally, spanning regions like the US, Canada, Latin America, Europe, Japan, and the UK.
At Superfeet, our purpose is to make a positive difference in all the lives we touch by shaping a strong foundation and being there when you need us, bringing out the awesome in everyone. We are committed to creating a workplace where employees thrive both personally and professionally. Superfeet also gives 1% of its sales and countless volunteer hours to help others shape a strong foundation for a healthy future.
Superfeet is owned by Westward Partners in partnership with Superfeet’s management team. Westward Partners is a Seattle-based private equity firm that invests in lower middle market organizations across a variety of industries based in the Pacific Northwest. Westward has owned Superfeet since June 2021, and with their investment has been a fundamental partner in the successful growth of the business.
Position Overview
Reporting to the CEO, the Chief Financial Officer will lead financial decisions as a key member of the executive leadership team in accordance with the organization’s strategic vision. The CFO will interact effectively with other parts of the company and serve as a key business partner to the CEO and other Senior Leadership. By developing the long-range financial strategy as well as overseeing day-to-day financial management, the CFO will play a critical role in guiding the organization to achieve continued financial success.
The CFO will be hands-on, naturally moving from the tactical to the strategic, and will have the personal drive to work effectively in a fast-paced, entrepreneurial environment. S/he will translate various initiatives into metrics and indicators, setting up tracking mechanisms to gauge performance through strong communication and collaboration skills. A team player capable of getting their hands dirty, this individual will be fair and confident, while mature and adept in balancing the needs of internal and external stakeholders.
Role & Responsibilities
- As a member of the executive leadership team, serve as a strategic advisor to the CEO and Westward partners. Play a lead role in developing and executing strategic vision to enable and enhance Superfeet’s growth initiatives, and to leverage opportunities to further differentiate the organization.
- Responsible for the production and integrity of Superfeet’s domestic, international, and consolidated financial statements, including income statements, balance sheets, cash flow statements, shareholder reports, tax returns, and governmental agency reports.
- Manage all aspects of finance, accounting, tax, and treasury in addition to other critical non-finance functions, as needed.
- Focus on the efficient financial and business operations of Superfeet by partnering directly with operations and commercial functions. Drives collaboration and alignment across all departments (e.g., sales, marketing, operations, IT, etc.).
- Develop accurate information reporting, including key performance indicators, to direct and monitor day-to-day activities that provide insights for better decision-making. This will include product margin analysis, promoting and coordinating the use of metrics throughout the organization that will build an understanding of the financial drivers of the business and identify opportunities for improvement.
- Continuously improve profitability by measuring business unit performance against operating plans and industry standards, and continuously seek opportunities to accelerate revenue growth, expand margins, lower costs, and increase long-term productivity.
- Oversee the Superfeet’s annual budgeting process and forecasting. Develop financial models and analyze trends to prepare forecasts, budgets, and management reports.
- Be able to communicate the performance with internal and external constituents.
- Monitor cash flow and compliance with financial covenants.
- Ensure the integrity of the financial statements through the enhancement and management of accounting systems and controls. Monitor controls and ensure a strong control environment.
- Lead role in systems implementations, executing these projects to completion.
- Lead the recruitment, training, and development of a strong finance team to ensure the organization has a high level of performance and productivity. Provide effective leadership, mentorship, and coaching that fosters an environment of problem-solving and continuous improvement as well as attracts and retains superior financial talent.
- Implement talent development and succession plans to support the current and future talent needs of the Company.
- Manage relationships with a broad range of external constituents including external auditors, lenders, and Westward Partners.
- Serve as an effective, empowered voice on the leadership team to bring facts and thoughtful analysis to senior-level strategic decisions.
- Utilize your roadshow experience to effectively communicate the company's financial performance and growth potential to potential investors and stakeholders.
- Be an innovator of change by identifying and driving capabilities that deliver value.
- Lead financial drivers and transactional deliverables in support of growth through M&A. Must have strong analytical and project management skills to lead investment choices and transactional execution.
Who We Are Looking For:
- Demonstrated knowledge of GAAP & IFRS, current accounting trends, and developments
- International experience a plus, including dealing with multiple currencies.
- Experience in e-commerce and multi-channel distribution
- Experience overseeing budgeting and FP&A processes required.
- Experience with PE or Venture capital-backed companies.
- Proven track record in successfully leading and executing acquisitions and divestitures, including due diligence and integration efforts.
- Excellent people skills, with experience collaborating in a multi-disciplinary, diverse, and dynamic team.
- Strong customer orientation and ability to coach, mentor, and develop team members.
- Proven success leading through change and raising the bar on your teams.
- Bachelor’s degree required, graduate degree preferred; CPA preferred but not necessary with equivalent experience
For more information, contact Rochelle Fleisher at rochelle@180one.com.
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