Chief Financial Officer

Company

Northwest Natural Holding Company, (NYSE: NWN) (NW Natural Holdings), is headquartered in Portland, Oregon and has been doing business for over 160 years in the Pacific Northwest. It owns NW Natural Gas Company (NW Natural), NW Natural Renewables Holdings (NW Natural Renewables), NW Natural Water Company (NW Natural Water), and other business interests. We have a longstanding commitment to safety, environmental stewardship and the energy transition, and taking care of our employees and communities.

NW Natural currently provides natural gas service to approximately 2.5 million people in more than 140 communities through more than 795,000 meters in Oregon and Southwest Washington with one of the most modern pipeline systems in the nation. NW Natural consistently leads the industry with high J.D. Power & Associates customer satisfaction scores. NW Natural owns and operates 21 Bcf of underground gas storage capacity in Oregon.

NW Natural Water provides water distribution and wastewater services to communities throughout the Pacific Northwest, Texas and Arizona. NW Natural Water currently serves approximately 158,000 people through about 64,000 connections.

NW Natural Renewables is investing in renewable energy and the transition to a decarbonized future through the production and supply of low-carbon fuels – supporting a variety of sectors including utilities, commercial, industrial and transportation customers.

NW Natural Renewables is focused on providing cost-effective sustainable solutions by utilizing existing waste streams and renewable energy resources.

As demonstrated throughout our company’s history, in changing times it’s important that we not just follow trends but lead the way. We’ve been a thriving business for over 160 years for a reason – we look ahead, we anticipate, we create solutions, and we seek to continually improve and evolve.

2023 KEY STATISTICS

Revenues: ~$1.19B Mkt Cap: ~$1.37B Ticker: NWN (NYSE) Employees: ~1,258 Audit Firm: PWC

Position

The Chief Financial Officer (CFO) is a key strategic member of the Executive Management team providing critical financial advice to the CEO and management team. The CFO will suggest and participate in the development of immediate and long-term strategic growth plans to increase profitability, mitigate financial risk, maintain a strong financial position and help to ensure efficient operating costs. The CFO will report and measure the company’s financial performance and develop forecasts to drive the company’s financial performance. In this role, the CFO will protect and improve the financial integrity of the company.

The CFO will plan, administer and execute NW Natural’s financial activities through exceptional leadership and people management while protecting the company’s assets, funds and shareholder investment.

Areas of Management:

• Accounting and Finance, including regulatory compliance
• Strategic and Financial Investments
• Budgeting, Forecasting, Financial Planning and Analysis
• Treasury
• Strategic corporate transactions including acquisitions and divestitures
• Banking relationships
• Capital Markets, including Public and Private Financings
• Rating Agency Relationships
• Purchasing and Supply Chain
• Tax Planning and Strategy
• Enterprise Risk Management oversight
• Sarbanes-Oxley and Financial Reporting Control Structure
• Investor Relations
• Project Management Office
• External Auditors

This role will manage messaging to the investment community on behalf of the company while monitoring and keeping management team and board members informed on investor perceptions of the company’s strategy and performance.

Outcomes

• Develop effective communication methods and strong relationships with the executive team and board members.
• Guide the company’s short and long-term strategies, general economic and financial analysis, regulatory actions, and all financial implications of business decisions.
• Develop and manage short and long-term capital investment plans across business segments.
• Develop debt and equity capital raising plans across all business segments and manage the execution of individual capital raising transactions.
• Participate and engage in business development and growth strategy, acquisition activities and strategic and financial investment decisions.
• Ensure value creation of acquisitions in both the M&A process and their respective integrations.
• Lead development of communication material for earnings releases, industry events and presentations to analysts, rating agencies, brokers and investors (equity and fixed income).
• Create sound financial plans through oversight of the budgeting and forecasting process and provide clear communication of the plan to employees.
• Identify and track key financial performance indicators and metrics that measure progress towards the achievement of company goals.
• Lead the Enterprise Risk Management process for the company to identify all risks that the company faces currently and in the near- and medium-term future and how best to manage those risks.
• Oversee the preparation of annual reports, SEC filings, and actively participate in shareholder proxy information and other shareholder communications.
• Drive a continuous improvement philosophy and mindset throughout the organization which holds the management team accountable to making measurable strides toward excellence in financial performance.
• Direct the Controllership activities to report accurate and timely historical financial information of the company to stakeholder groups including shareholders, employees, analysts, regulatory agencies and others.
• Oversee the accounting and tax functions to ensure all policies and rules are followed, independent audits are conducted, and income tax filings are completed in compliance with changing laws and regulations and auditing standards.
• Ensure credibility of a top-level finance department/function by providing timely and accurate planning, budgeting, analysis, financial trends and forecasting updates.
• Oversee the management of the company’s capital structure by directing the Treasury operations and acting as the custodian of the funds, securities and assets of the corporation.
• Oversee the management of the Company’s Defined Benefit Plan.
• Works with the Chief HR officer on Company’s 401k plan.
• Manage short- and long-term liquidity needs.
• Manage Company’s capital expenditure plan.
• Manage the external financing function of the business and maintain banking relationships.
• Oversee external audit relationship with independent auditors and provide support to the internal audit function.
• Ensure the company’s compliance with Sarbanes-Oxley rules and maintain an effective internal control environment and the highest ethical standards.
• Participate in developing regulatory strategy in the rate setting processes.
• Participate in the development of Corporate strategy and long term business planning.

Competencies

S/he will be a highly seasoned financial professional with exceptional strategic and analytical skills. The executive will also possess outstanding communication skills, an executive presence, and the ability to influence and work effectively with a solid core of experienced senior executives, Board members, and external advisors. The individual will operate with the highest level of integrity with respect and embracement of diversity, equity and inclusion within the organization and community.

Educational & Professional Background

• Preferred 5 or more years of experience performing the CFO function in a publicly traded company.
• Bachelor’s degree in accounting, finance, business, or business administration is required.
• MBA, CFA and/or CPA are highly desirable.
• Minimum 15 years of demonstrated accomplishments in progressive senior financial roles, preferably in a recent CFO role.
• Experience within the Utility industry is highly desired but not required.
• Substantial experience managing private and public debt and equity financings, including related SEC processes and SOX compliance.
• Familiar with and capable of executing the requirements of Sarbanes-Oxley.
• Broad experience and working knowledge of finance (planning, modeling, analysis and forecasting), accounting, treasury, tax and internal control processes; with strong working knowledge and best practices in budgeting and forecasting processes.
• Exhibits strong problem-solving skills and the ability to exercise mature and prudent judgment. 
• Keen business and financial acumen to make decisions based on accurate and timely analysis.
• Proven ability to influence internal business partners, lead change and accomplish goals through collaborative effort, excellent team communication and negotiation.
• Demonstrates sharp entrepreneurial thinking and proven ability to identify industry specific areas for growth, including both regulated and non-regulated businesses.
• Ability to create a compelling vision and effectively communicate complex financial issues to diverse audiences.
• Highly credible and valued executive that has developed a strong and engaging external presence with investors, shareholders, community leaders and government officials.
• Significant experience with capital / financial markets and security issuances.
• Experienced in Treasury activities, banking relationship management and rating agency relationship management.
• Understanding the value of good regulatory relationships and engaging in the regulatory environment to protect and enhance shareholder value.
• Ability to foresee, prepare and respond with swiftness to changing business, regulatory and tax requirements.
• Experienced in M&A transactions and merger integrations.
• Demonstrated success in building teams, developing and attracting talent, and implementing succession planning.
• Provides outstanding leadership; mentor and motivate personnel to obtain highest degree of productivity and encourages and coaches others to achieve individual growth.

180one is a retained executive search firm and has been engaged by NW Natural Holdings to manage this search. If interested in learning more about the opportunity, please contact Rochelle Fleischer at 180one at: rochelle@180one.com.