R.D. Offutt Company
Search for Chief Financial Officer
R.D. Offutt Company is an entrepreneurial, growth-oriented holding company that has grown to more than $3B in revenues with primary interests in heavy equipment dealerships, production agriculture, consumer packaged goods, food processing, and commercial and residential real estate.
R.D. Offutt Company’s roots stem back to 1964, when Ron Offutt began potato farming alongside his father in Moorhead, Minnesota. Today, R.D. Offutt Company has grown to include farming operations that produce more than 50,000 acres of potatoes and 30,000 acres of vegetables each year, and three food processing joint ventures. This vertical integration strategy has been a competitive differentiator for R.D. Offutt Farms and has moderated risk for the Enterprise for more than 50 years.
In 1968, Ron Offutt also had the opportunity to purchase the local John Deere dealership in nearby Casselton, North Dakota which he grew it into RDO Equipment Co., a company with 78 dealerships across the U.S. selling and supporting agriculture, construction, environmental, irrigation, positioning and surveying equipment from leading manufacturers including John Deere, Vermeer and Topcon. RDO Equipment also has partnerships in Africa, Australia, Mexico, Russia and Ukraine, adding more than 25 dealerships, making it a total solutions provider and partner to customers around the globe.
The Company continues to explore and pursue strategic growth opportunities where its customer and market knowledge, technical expertise and financial position can add sustainable value.
R.D. Offutt Company’s Core Values are an enduring reflection of its culture and philosophy:
- Partner with employees
- Build customers for life
- Create opportunities
- We do what we say
- Play to win!
As a family business, R.D. Offutt Company remains driven by integrity and humility, using them as the foundation for all of its operations. Employees at all levels of the business are encouraged to make their own decisions, to find solutions for their customers, to celebrate team and individual successes and to be innovative and entrepreneurial.
R.D. Offutt Company continues to be family-led with Ron’s daughter, Christi Offutt, serving as company Chair, and Ron as Chairman Emeritus. The Company benefits from a highly engaged outside Board of Advisors and welcomed its first non-family Chief Executive Officer, Tim Curoe, in 2018.
The Chief Financial Officer (CFO) will report to Tim Curoe, Chief Executive Officer (CEO) of R.D. Offutt Company. The CFO will have overall responsibility for financial leadership of the holding company and will play a critical role in developing corporate strategy and supporting the growth and increased profitability of the individual business units.
The CFO will serve as a thought leader and strategic business partner to the CEO and be a key member of R.D. Offutt’s Senior Leadership Team. S/he will provide oversight and leadership for the enterprise-wide functional areas of Reporting, Treasury, Tax, Audit, Legal, Risk Management and Insurance and will be responsible for keeping leadership fully apprised of financial matters. S/he will also provide strategic and financial leadership for merger and acquisition activity, direct capital allocation across multiple business units, oversee the enterprise-wide budgeting and planning process, and present analyses of consolidated financial and operating results to the Senior Leadership Team, Advisory Board and Family. The CFO will support the Company’s continued transition to a holding company model.
Tim Curoe, CEO, R.D. Offutt Company
Corporate Controller/Director of Enterprise Reporting
Director of Tax
Director of Risk Management
Director of Audit
Director of Business Development/M&A – to be created
Other Key Relationships:
Board of Advisors
Fargo, North Dakota
- Serve as a strategic partner for the CEO and Senior Leadership Team in setting a corporate strategy that will promote growth, enable investment opportunities and advance diversification.
- Provide thought leadership to evaluate and assess strategic opportunities, assessing impact at the holding company and business unit levels.
- Champion the strategic planning process across the Enterprise, and foster alignment and ownership through the broader leadership of the Company.
- Build organizational structure and processes to support data-based business decision making and guide corporate and business unit strategy.
- Actively participate and contribute to the Senior Leadership Team, providing input regarding relevant strategic and financial considerations, serving as an objective evaluator and offering insight on the entire business.
- Remain abreast of local, regional, national and international economic conditions that could impact the business and make recommendations accordingly.
- Support the businesses in proactively developing growth strategies and identifying new business opportunities that leverage the Organization’s core competencies.
- Develop clear guidelines for modeling, pursuing and communicating deals across the Enterprise.
- Establish processes and tools to provide rigor around assessment of strategic growth.
- Provide guidance and support for enterprise integration following merger and acquisition activities.
Financial Planning & Reporting
- Oversee financial and accounting policies and controls for all entities, ensuring requirements are defined and fulfilled and encouraging continuous improvement to achieve best practice and proactively meet business needs.
- Set clear accountabilities for business units to ensure that financial reporting is timely, meaningful and accurate.
- Provide leadership to ensure that consolidated financials are accurate and timely and communicated effectively to leadership.
- Ensure that processes are in place to analyze and execute the appropriate capital allocations for proposed investments enterprise-wide, including differentiating and prioritizing capital projects.
- Collaborate with business unit CFOs to produce timely, consistent financial modeling and ROI analyses in order to effectively evaluate strategic business decisions.
- Present financial analyses, reports, results and other information to the Senior Leadership Team and the Board of Advisors.
Audit, Legal & Tax
- Review the completion of external audits, including the development of the annual external audit plans and the selection of appropriate partners and service providers.
- Under advisement of legal counsel, ensure appropriate and necessary controls are in place and documented to pass audit or inspection by any governing agency.
- Ensure the interpretation and application of relevant and applicable legislative rules for compliance.
- Analyze and propose the most appropriate legal and tax structures for the existing and integrated mergers and acquisitions.
- Review and assess tax benefits to drive advantageous reinvestment of capital.
- Provide leadership to ensure the necessary resources are in place to analyze, prepare and file tax returns in a timely and accurate manner.
- Oversee the development and implementation of tax strategies to minimize applicable tax liabilities.
- Provide leadership to external advisory relationships, including auditors, bankers and tax advisors, and work closely with insurance carriers, surety companies and other external service providers.
- Ensure the Enterprise employs a robust cash flow projection methodology to meet working capital funding requirements, appropriate debt structuring, trust related issues and investment opportunities.
- Monitor and optimize banking activities to ensure appropriate cash flow for the Enterprise.
- Ensure the evaluation, development and maintenance of systems of internal controls to safeguard the financial assets of the Enterprise.
- Ensure the support of prudent and effective investment of company assets and investments.
- In conjunction with HR and senior leadership, instill a positive work environment to retain and motivate employees to achieve superior results in an environment of open communication, teamwork and high employee engagement.
- Effectively recruit, develop and manage team members to effectively meet short- and long-term business needs.
- Utilize and leverage external resources as needed to provide the necessary technical and functional expertise to support the business.
- Promote teamwork and collaboration across all R.D. Offutt Company entities and serve as a trusted partner focused on helping the various businesses achieve their growth and profitability targets.
- Maintain effective relationships with customers, stakeholders, the Advisory Board and Family, employees, government agencies, industry personnel and the general public.
As a leader at R.D. Offutt Company, the CFO is expected to demonstrate the following leadership competencies:
Demonstrates highly developed subject matter knowledge and thought leadership in his/her domain. Stays abreast of trends in the field and appropriately disseminates knowledge throughout the organization.
Possesses strong intellectual curiosity and the ability to analytically, conceptually and critically evaluate information to determine relative strengths and weaknesses of ideas and proposals. Comfortable managing ambiguity and balancing action with the appropriate level of risk.
Understands and manages the challenges inherent in future-looking and growth-oriented environments. Promotes systems and processes that are nimble in order to achieve evolution and scaling.
Creates an environment that supports collaboration by facilitating communication and coordination across all parts of the organization. Builds an intentional and cohesive culture that aligns functional agendas and unites the team.
Proactively anticipates future needs and creates a mechanism for overcoming hurdles, setting high standards for the organization and holding others accountable. Ensures organizational strategies are translated into measurable objectives and actionable plans.
Understands markets, identifies trends and drives the organization to create comprehensive, competitive and breakthrough strategies. Prioritizes strategically, leading the organization to pursue and capitalize on the best opportunities.
Capable of navigating complex family and organizational dynamics in an authentic and trusting manner. Ability to build relationships and establish collaborative partnerships throughout many levels of a highly matrixed organizational structure and seek input from many diverse skillsets.
Ideal Candidate Profile
The ideal candidate will be a bright, seasoned CFO whose track record of success is coupled with a down to earth management style. S/he will have a broad finance background and be a proven strategic leader with successful experience in a large privately held business. A demonstrated ability to work effectively across diverse industries and quickly learn complex businesses is critical.
Strong foundational proficiency in all financial functions, including financial planning and analysis, financial reporting, accounting operations, tax, treasury and audit is required. This person should also have mergers and acquisitions experience involving multiple deals and including integration within a dynamic, growth-oriented company. Prior experience in a strategy and/or corporate development function will be helpful.
The ideal candidate will thrive in a growth-oriented, entrepreneurial environment, be comfortable with ambiguity and enjoy building business processes to support profitable growth. The ideal candidate will be a strategic business partner and possess a track record of developing and implementing financial strategies that support the achievement of business objectives. S/he should demonstrate well developed business acumen and an ability to function effectively in a holding company environment with a diversity of business models.
This person will have seasoned decision-making capabilities that reflect a prudent balance of high risk tolerance supported by sound financial, operational and market data and analyses. S/he will have the ability to provide a long-range strategic perspective with a clear ROI mindset to ensure shrewd economic investments timed appropriately with global market considerations.
Seasoned judgement and the ability to assess the viability of proposed investments are key. This person will be proactive in offering her/his input and be comfortable engaging in healthy debate about strategic issues. S/he will be flexible and creative and demonstrate a constructive, problem-solving mindset. The ideal candidate will have a transparent, direct communication style. S/he must be able to effectively articulate and translate facts and figures and make clearly stated and understandable recommendations.
The ideal candidate will be a proven leader of people with a humble, low-ego, roll-up-the-sleeves management style. S/he should have a track record of successful hiring, coaching and mentoring that enhances employee engagement, promotes retention and facilitates career progression. The ideal candidate will be collaborative by nature and possess well developed interpersonal skills as well as the ability to develop chemistry with the existing team. S/he should be comfortable navigating a family-owned business or one with complex ownership.
Experience supporting a board and familiarity with governance structures and processes are key. A demonstrated ability to build successful relationships across all levels of the organization is critical. The ideal candidate should also be adept with external relationships, embracing the opportunity to function as an ambassador in the community.
A bachelor’s degree in Finance, Accounting, Economics, or Engineering is required; an advanced degree (MBA) or CPA is preferred. The highest ethical standards are expected.