New Opportunity: CFO at Herb Pharm

About the Company

Herb Pharm was established in March of 1979 in a pristine mountain valley in Williams, OR. From the beginning, their mission has been unwavering:

“We are committed to providing the highest quality herbal products possible, educating people on the safe and effective use of medicinal herbs and inspiring a love for plants and respect for nature.”

Back in the early days, Herb Pharm’s “lab” was the home of Ed Smith and Sara Katz, the company’s founders and owners. They wanted to establish themselves as the alternative to the rather poor-quality and limited array of medicinal herb products available. Ed and Sara spoke constantly and emphatically of the importance of using organic, high-quality herbs as opposed to the over-dried plant fiber that the few existing companies were using in their products.

About the Position

This position is responsible for directing the fiscal, treasury and accounting functions of the company in accordance with generally accepted accounting principles (GAAP), cost management principles, and in alignment with the Herb Pharm’s Purpose and Root Values.  The CFO has primary responsibility for leading, planning, implementing, managing, and controlling all financial and accounting related activities of the company.  This includes direct responsibility for finance, accounting, annual budgeting, interim forecasting, product costing, debt covenant management, tax and legal compliance, property and fixed asset management, financial audits and audit firm management, deal analysis and negotiations as may be appropriate, and investor and banking relationships.  Additionally, the CFO is an active member of the Executive Management Team (EMT) and thereby contributes to the overall leadership, strategy, and growth of the organization.

Essential Duties & Responsibilities

STRATEGY, PLANNING & MANAGEMENT

  • Provide financial leadership to the strategic planning process and work closely with the CEO and EMT to establish and periodically revise the strategic plan.
  • Participate in pivotal decisions on strategic priorities and resulting finance, accounting, other operational decisions.
  • Assess and evaluate financial performance with regard to strategic priorities, long term operational goals, budgets and forecasts.
  • Provide financial insight, analysis, and recommendations to the CEO and Board of Directors as needed to ensure the long-term success and stewardship of the organization.
  • Participate in meetings and calls with the Board of Directors as needed. Work with CEO and others on preparation of monthly and quarterly materials and other communications to the Board.
  • Create and establish yearly financial objectives that align with the company’s plans for growth and expansion.
  • Serve as a key member of the EMT and implement EMT decisions, policies, and processes as appropriate.

FINANCIAL ANALYSIS, BUDGETING & FORECASTING:

  • Plan, lead, and execute the development of the company’s annual Budget and mid-year Forecast. Create appropriate calendar plans, processes, and communications to ensure successful creation and execution of Budget and Forecast plans.
  • Plan, lead, and execute development of the company’s capital expenditure Budget and Forecast. Review, approve, or reject all requests for capitalized spending. Track and report on each planned and executed capex item.
  • Oversee the preparation and presentation of all monthly and annual financial reports, including income statement, balance sheet, cash flow, and capital expenditure reports.
  • Establish and/or revise metrics, benchmarks, and financial reports to guide the organization and report on its status and progress. Provide appropriate recommendations based on such information to the CEO and EMT.
  • Work with Sales and Marketing to identify, develop and execute analysis of business initiatives, product launches and/or new promotional offerings.

TREASURY FUNCTIONS:

  • Responsible for maintaining appropriate liquidity, optimizing working capital, managing short-term investments, and minimizing risk related to the company’s financial activities.
  • Ensure funds availability at all times by managing the cash flow planning process, overseeing weekly cash management (both AP and AR functions), investments and asset management, exploring new investment opportunities and providing recommendations on potential returns and risks.
  • Maintain outstanding banking relationships and strategic alliances with vendors and business partners.
  • Utilize forward-looking models and activity-based analyses to provide financial insight into the organization’s plans and operating budgets.
  • Manage tax planning process, working to minimize tax impact of large projects and transactions, coordinates timing of tax payments with other large payables, and ensure that all tax payments are made timely.
  • Ensure accurate valuation of financial instruments and company shares and communicate this accurately to all involved parties.

ACCOUNTING, GENERAL LEDGER & OPERATIONS:

  • Ensure timely and accurate functioning of the accounting department and oversee and systematically review activities, procedures, and controls.
  • Oversee the monthly and year-end closing process, constantly reviewing procedures while eliminating inefficiencies.
  • Analyze financial reports to identify anomalies, variances, and opportunities to improve performance making recommendations to CEO and Board, and implementing changes as approved.

FINANCIAL RELATIONS & POLICIES:

  • Lead Board in developing short term and long-term financial plans, projections and budgets.  Implement these plans as approved.
  • Represent company to banks, financial partners, institutions, public auditors and government officials, as needed.
  • Remain current on audit best practices, state, federal, and local laws regarding company operations, and recommend adjustments as needed to remain compliant with changing regulations.

STAFF DEVELOPMENT:

  • Ensure high level of staff productivity by mentoring and developing the team, managing work allocation, overseeing the hiring, training, coaching, counseling, disciplining and performance feedback of all employees and building an effective and efficient team.
  • Mentor employees by evaluating training needs, recommending training opportunities appropriate to each employee, and encouraging career growth.
  • Coordinate wage and salary administration within the department, assuring compliance with established company guidelines.

MANAGEMENT COMMUNICATION:

  • Effectively contribute to the success of the overall organization by participating actively in all required management meetings and conferences, maintaining open, productive, and respectful communication with other managers, reporting on progress of various programs and reviewing all unexpected developments with the CEO and other affected managers in a timely manner.
  • Responsible for building effective personal relationships with managers and external business partners necessary to accomplish established goals, collaborating effectively with other members of EMT and all internal departments to assure financially sound decision making.

Required Skills & Education

Bachelor’s degree (BS) in Accounting or Finance or related field from four-year college or university required, CPA and MBA Preferred.  Ten (10) years of related work experience including five (5) years of leadership experience in a manufacturing environment. 

Ready to Apply?

180one is a retained search firm and has been engaged by Herb Pharm to manage this search. If interested in learning more about the opportunity, please contact Matt Oltmann at 180one.


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