For Natalie Morwood, CFO of Luxury Escapes, curiosity and courage have been the constant drivers of her career. From the early days of accounting to leading in the fast-moving world of global travel, she’s built her success by leaning into change, backing herself, and saying yes to opportunities — even when they felt daunting.

In this conversation with Liam Killen, Natalie reflects on the lessons that shaped her path to CFO, the value of self-belief, and why embracing uncertainty can open the door to growth.

Liam
Well, I’m joined here today by Natalie Morwood, CFO of Luxury Escapes. Natalie, thanks so much for joining me.

Natalie
Thanks, Liam. Thanks for having me.

Liam
Natalie, before we get into your CFO career, can you tell us a little bit about your early days and what drew you towards finance?

Natalie
Yeah, absolutely. I decided to do commerce at uni, like many accountants do. It was something I enjoyed and felt passionate about. Honestly, I’ve always liked accounting — which probably sounds a bit odd — but I did. I liked that it had a clear path, where you knew where it was heading.

At uni I did vacation work at Ernst & Young in audit. I didn’t really know what audit was, but I’d been told it was the easiest way to get in, because that’s where most grads were accepted. I got a graduate position there, completed my CA, and spent time in a chartered firm.

Like many others in accounting, you quickly realise whether you want to stay and aim for partnership, or if you want to move into industry. Once I got my CA, I felt the external world was calling, so I looked elsewhere — and that’s how I ended up at Census.

Liam
Looking back, was there a pivotal moment during your EY days when you knew you were ready to move? Or was it more of a natural progression?

Natalie
It was more natural. I always wanted to be the client, not just service the client. I liked being on the other side of the table. Working in a chartered firm as a young accountant is amazing — you start with a graduate group, become close, do your CA together, and have the support of a global company like EY. You also make great contacts.

But I was more interested in what my clients were doing. You often get told not to go into industry because you’ll just end up doing month-end and journals — but I was excited about that. I wanted to be exposed to it. So yeah, I was happy to make the move across.

Liam
Your first move came with Census in 2014. By 2018 you were Acting CFO, and then confirmed as permanent in 2020. Talk us through that transition and your rapid rise in what is a huge organisation.

Natalie
It was a really interesting time to join. In 2014, I started as probably the most junior person in the finance team — a junior financial accountant doing journals, month-end, and the basics.

Census had just been sold by Telstra a few months earlier, so the company was going through a massive transformation, moving from a big conglomerate to private-equity ownership. They had to start from scratch: new finance processes, migrating off Telstra systems, setting up cashflow forecasting, tracking every dollar. It was a huge transformation for finance.

That created opportunities. Even as a junior, I was exposed to things senior finance people hadn’t dealt with before. I got involved in private equity work like shareholder loans and distributions, which gave me exposure to both the CFO and our ownership group.

I remember being asked to take over accounts payable — completely outside of financial accounting. I was nervous, but I’d been advised to just say yes to opportunities. From there I took over more shared services, then finance ops, and eventually the CEO pulled me into his office and told me I’d be Acting CFO — just four years after I’d started. It was drastic, but really exciting.

Liam
During that time, were there champions or advocates who really supported your journey?

Natalie
Absolutely. My CFO at the time was a huge influence. When I first joined, she was two or three levels above me. As I progressed, we worked closely together. I say she raised me in the finance world. She mentored me, guided me, and taught me everything I knew.

To say yes to opportunities and put yourself in uncomfortable situations, you need support and backing from someone you trust. She gave me that. She also taught me that if you can do the job perfectly on day one, it’s probably not the job for you. You need a challenge, and you need to keep learning.

Liam
That’s powerful. Imposter syndrome is something that comes up a lot, particularly for women in finance. How have you managed that mindset of constantly saying yes to roles outside your comfort zone?

Natalie
Imposter syndrome is real, especially for women in finance. I still go through it. I still get self-doubt. It’s hard, and it’s risky.

Having a support system is crucial. Getting runs on the board builds confidence too. I’m the type of person who needs to know a company well before I’ll really put myself out there, and that takes time.

But I’ve also learned that failing is okay. You’re never going to have a 100% strike rate. You need the confidence to fail fast, learn, and move on. Knowing you have mentors, leaders, and even your own team supporting you through that makes all the difference.

Liam
As a CFO, what’s your approach to building credibility with investors, boards, and executives?

Natalie
The number one thing is knowing your numbers and your metrics inside out. You have to be seen as a trusted advisor, both internally and externally. That takes time when you move industries, but it’s essential.

For me, the only way I can present confidently is by getting under the hood. I need to understand the detail myself — not just rely on someone else’s work. That’s how you build credibility.

Liam
What was the biggest gap you had to cross moving into the C-suite?

Natalie
Knowing when to lean in and when to lean out. I’m very detail-driven and love knowing the numbers back to front, but at this level, you also need to step back, look holistically, and provide strategic advice.

The company doesn’t just need numbers explained — they need insights, guidance, and partnership. Balancing detail with strategy was the biggest shift.

Liam
How did working with private equity shape you as a CFO, compared to now in a founder-led business?

Natalie
Private equity was all I knew for years, so it shaped me. It’s very detail-oriented and transactional. You get grilled top to bottom on every number.

Now at Luxury Escapes, while detail is still important, there’s also more focus on strategy and growth. Working with a founder brings a different perspective — it’s about brand, customers, and long-term success, not just transactions.

Liam
After Census, you moved to Boston Consulting Group as ANZ Finance Director. How different was that environment?

Natalie
Incredibly different. Working in a partnership group was unlike anything else. At BCG there were around 50 partners, all with different priorities and decision-making styles. It was challenging but fascinating.

It also came with huge global support — tax, legal, compliance — a whole network behind you. The flip side was less autonomy, but the resources were phenomenal.

Liam
Now you’re CFO at Luxury Escapes. Tell us about the business and its journey.

Natalie
Luxury Escapes is in a scale-up phase, but still has a startup mentality. The focus is delivering the best luxury holidays at great prices, backed by strong technology.

At the same time, we’re upskilling teams, improving systems, and scaling capabilities to keep up with growth. It’s a balancing act, but it’s a really exciting time to be here.

Liam
What’s it like working for such a consumer-facing brand that people recognise and love?

Natalie
It’s great. I loved my time at Census, but at the end of the day their product was Yellow Pages. Now I get to talk about luxury holidays! It’s fun, relatable, and something people are genuinely passionate about. Friends, family, neighbours all know the brand — and everyone wants to know how we get the best deals.

Liam
And what about the culture at Luxury Escapes?

Natalie
It’s very family-oriented and fun. Our founder is vocal about being in the office full-time, so we’re here five days a week. Lunch is served daily, people sit together, and there’s a real sense of community.

It’s intense at times, but the passion and energy of the team makes it worthwhile.

Liam
What are the unique challenges of working alongside a founder as CFO?

Natalie
There’s definitely emotion — it’s their baby, after all. But the passion is incredible. Founders know the business inside out. Our CEO shares the company’s story personally with every new starter, which really connects everyone to the journey. It’s a privilege to work alongside that kind of vision.

Liam
And how do you balance that entrepreneurial spirit with financial discipline?

Natalie
It’s about presenting information the right way, knowing their perspective and risk appetite. It’s not pitching exactly, but framing it so your point lands in the right way.

Liam
How do you recharge outside such a demanding role?

Natalie
I’ve got two young kids — six and three — so life at home is busy too! My mornings are my recharge time. I’m up early, that’s when I get space for myself. Evenings and weekends are all about family. It’s not always restful, but it fills my cup in other ways.

Liam
What’s your support network like?

Natalie
My husband works in sports production — his dream job. He’s incredibly supportive, and I couldn’t do it without him. We’re also lucky to live near both sets of grandparents, so family support is amazing.

It’s still tough — mum guilt is real — but we make it work. Evenings and weekends with the kids are non-negotiable for me.

Liam
Reflecting on your career so far, what was a pivotal moment that really shaped your path?

Natalie
At Census, I got pulled into a shareholder transaction meeting unexpectedly when my boss was away. It was technical and intimidating, but I figured it out, worked through the legal step plans, and presented it clearly. That was my first real exposure to the leadership team and shareholders, and it showed them I could step up. If my manager had been there that day, it might never have happened — a real sliding-doors moment.

Liam
If you could give one piece of advice to aspiring CFOs, what would it be?

Natalie
Say yes to opportunities, even when they feel scary. Keep learning, keep challenging yourself, and surround yourself with mentors who will push you forward.

Liam
And finally, what’s next for you and Luxury Escapes?

Natalie
We’re about to kick off a brand new ERP implementation, which is huge for us and will transform the way we operate. I’m also focused on building out the finance team and processes so we can keep pace with the company’s growth.

Liam
Fantastic. Natalie, thank you so much for joining us.

Natalie
Thanks, Liam.