Job #1491: CFO - Remote (10-30-20)

Job Title

Chief Financial Officer

Location

Remote

Salary

120,000 - 150,000 + Stock

COMPANY BACKGROUND

CleanOrigin.com was founded in late 2017 to test the trifecta of disruption for diamond
jewelry retailing:

1. Direct to consumer digital-first brand
2. Lab grown, sustainable diamonds rather than mined
3. Online only distribution ( initially )

We are today the largest, purely lab grown diamond engagement ring online store in the
world. Our gross run rate is near $20m, we are net income and FCF positive-- and we are
growing.

Our C level team is composed of highly successful veterans from the fields of direct to
consumer online marketing, marketplace technology and diamond jewelry. Each has
had multiple exits and is compensated primarily through equity and not W2.

Our seed investors include the chairmen of three public listed companies with historical
valuations in the billions of dollars, and relevant experience in our space and managing
directors of Morgan Stanley, Goldman-Sachs and Merrill-Lynch.

Our culture is decentralized and our team distributed, but only because we strictly
define areas of control and complete accountability for performance and
communication. We are a people-first company. We pay in full all individual health-care
and hope to until our government provides a better solution. We don’t tolerate fools,
grand-standers nor people who work on the clock.

If you are interested in a position in which you run a department, this job is not for you.
If you are ready to begin as an army of one, totally hands-on and integrated into the day
to day business and later build a finance department, keep reading.


THE JOB
“The role of startup CFOs goes well beyond managing the company’s finances. They are
responsible for the path of growth, form new relationships, drive measurable value, and
establish core financial processes and reporting requirements. The Start-up CFO influences the
rest of the C-suite by driving the metrics and presentation of results. They hold the management
team accountable with facts. CFOs need to be able to balance the role of being the CEO’s
‘enforcer’ against being a trusted advisor to the rest of the C-suite.”


This is a hands-on position. The CFO will be personally responsible for keeping the GL, AR, AP
and producing the monthly financial statements, BS, IS, FCF, and work closely with the CEO
on all aspects of FP&A. Additionally, the administrative tasks of state tax and regulatory
compliance, insurance, Carta management and HR functions fall under the CFO/CAO domain.
There is one part time assistant at $2k per month. We believe in a flexible staffing strategy, that
includes full-time employees who are focused on critical initiatives; interim and project-based
professionals who help to support them, usually for a finite period; and other specialized
resources that can provide additional capabilities and perform high-value work on an as-needed
basis.The company sales exceed $1.5m/month but actual transactions average a manageable 325units
and we operate without owned inventory on a ’negative working capital to support revenue’
model.


The candidate should be proficient or comfortable with our current technology vendors: Xero for
GL and Bill.com for AP. Sales are recorded through Braintree, Affirm and direct wires. Avalara
is our sales tax software and Magento is our ecommerce platform.

 

DATA-DRIVEN STRATEGIES
Our CFO must oversee data collection and then help make sense of the available information,
generating the kind of data-driven insights that will drive decision making. Financial data is a
rich source of insights that can help inform cost accounting, shed light on consumer behavior and
much more. Thanks to powerful tools that enable faster and easier data analytics, the role of the
CFO is expanding to include being a business strategy adviser.


The candidate should be facile in the production and enforcement of departmental budgets and
be a hawk on the adherence to budgets, margins and the management of cash flow. Cash is king,
and margin covers most sins. Forecasting and financial planning and analysis are paramount to
the achievement of all of these; the CFO and CEO will together build and monitor all models.


GROWTH
Long term, the candidate will be able to scale-up and introduce scalability in many areas of
infrastructure, touching on technology and people. Short-term, the company has begun an
investment banking relationship and is in discussion with two carved-out potential investors. The
CFO plays a vital role in this step by managing the due diligence and financial planning required
to attract investors. The CFO can also help spend that money wisely so that the new capital will
have the greatest impact. Our plan for use of funds is to add physical locations, traditional media
and scale up beyond $100m by 2023.


HYPOTHETICAL CANDIDATE
The right candidate might be the seasoned VP of finance from a multi channel retail background, mid
career, that is used to dealing with PE.

 

Interested Friends of the Firm members should e-mail resume to Alex Weindling at alex@agweindling.com. Please mention that you are a member of EisnerAmper's Friends of the Firm program. Make sure to include Job #1491 in the subject line and to copy friendsoffirm@eisneramper.com on your email.