The Company:
With deep expertise in chemistry, Nuvalent is working to create selective medicines designed with the goal to address the needs of patients with cancer. Nuvalent is an exciting early-stage company, bringing together experienced scientists and industry veterans with a proven track record in drug discovery, oncology drug development, and company building.
The Role:
Reporting to the Vice President, Accounting, the Senior Director, Revenue Accounting role is a newly created position that will help lead the company into its next stage of commercialization by building and managing the full revenue cycle function including contract review, revenue accounting, gross-to-net accounting, order-to-cash functions, and related reporting within a publicly-traded company preparing to launch its first product.
The Senior Director, Revenue Accounting is a leadership position within the Finance team with the ideal candidate possessing technical competence and experience in product revenue accounting under ASC 606 and related analytics, knowledge of chargebacks, rebates and commercial discount program accounting, as well as contract compliance and operational experience. This role requires strong leadership skills, technical accounting expertise, and the ability to collaborate cross-functionally with various departments to establish system processes, procedures and integration for the company’s anticipated launch.
This role will start as an individual contributor working closely with Commercial, IT, Legal/Compliance, and Finance to establish processes in preparation for product launch and will recruit and develop the team responsible for ensuring ongoing, accurate and timely recording of revenue transactions and order-to-cash activity as well as related reporting.
Responsibilities:
• Establish, manage, and maintain all processes and accounting procedures that will facilitate an ac-curate and efficient monthly and quarterly revenue close, including oversight of all product revenue and related gross-to-net (GTN) accounting (discounts, returns, rebates, chargebacks, etc.) and all related revenue accounts, including accounts receivables and royalties payable.
• Establish and own the order-to-cash (OTC) process from invoicing to collections, working collabora-tively with the 3PL to ensure payments are received on time and accounts receivable balance are current and accurate.
• Serve as the Accounting point of contact on various cross-functional workstreams for commercial launch readiness.
• Manage the 3PL from launch preparation through commercialization and ongoing operations with regards to areas of responsibility.
• Recruit and lead the revenue accounting team, providing guidance, mentoring, and opportunities for professional development.
• Establish new processes and activities on all cross-functional initiatives impacting revenue recogni-tion from initial development to ongoing processes scalable for multiple products.
• Develop and maintain the company’s revenue recognition policies in compliance with US GAAP, including training team members and ensuring consistent application.
• Serve as a subject matter expert and provide guidance for forecasting and budgeting processes for GTN estimates as well as perform contract reviews to advise on potential revenue accounting implications.
• Establish, document, and maintain efficient and effective internal controls over revenue recognition and order-to-cash; support the financial statement and SOX audits and serve as a point of contact for areas of responsibility.
• Stay informed about changes in accounting standards and regulations related to revenue recognition and communicate and implement necessary updates.
• Identify and drive cross functional process improvements and automation initiatives to enhance ef-ficiency, accuracy, and scalability of accounting operations in area of responsibility.
• Build partnerships to work cross functionally with Commercial, FP&A and Legal to analyze complex contract terms, determine the appropriate revenue recognition treatment, and prepare/review assessments and conclusions documented in technical accounting memos as needed.
• Support ongoing compliance requirements (e.g., government pricing), working in collaboration with Commercial and other cross-functional team members.
• Support the Company's reporting function by preparing and presenting financial schedules, reports and analyses to be used for external financial reporting in the Company’s SEC filings, as well as in-ternal reporting to meet the needs of Finance and Commercial leadership.
• Other projects and/or ad hoc assignments, as needed.
Competencies:
• Strong leadership skills with a proven track record of building and managing a team of high-performing individuals
• Exceptional organizational and communication skills (both verbal and written) to various internal and external stakeholders
• Demonstrates excellent organizational and planning skills and strong attention to detail
• Ability to effectively navigate the unknown and utilize resources to establish new best practices
• Self-starter and an analytical thinker with superior problem solving and decision-making skills
• Highest level of personal and professional integrity and good judgment, with the ability to effectively deal with highly sensitive, confidential information
Qualifications:
• 12+ years of progressive experience in accounting, with at least three years in a managerial role; former experience in Big 4 public accounting strongly preferred
• Experience managing revenue recognition and gross-to-net accounting in a biotech/pharmaceutical company required
• Bachelor’s Degree or higher in Accounting or Finance; CPA required
• Extensive US GAAP technical revenue accounting background
• Order-to-cash oversight experience strongly preferred
• Significant expertise in understanding and applying revenue recognition principles under ASC 606 and other relevant accounting standards
Nuvalent provides equal employment opportunities (EEO) to all employees and applicants for employment without regard to religion, race, creed, color, sex, sexual orientation, alienage or citizenship status, national origin, age, marital status, pregnancy, disability, veteran or military status, predisposing genetic characteristics or any other characteristic protected by applicable federal, state or local law.
Nuvalent is aware that many companies are dealing with fraudulent job postings on third-party employment search sites and/or individual(s) or entities claiming to be employees of such companies. Those involved are offering fraudulent employment opportunities to applicants, often asking for sensitive personal and financial information, and using such information for criminal activities.
Please be advised that all legitimate correspondence from a Nuvalent employee will come from "@nuvalent.com" email accounts. Automated system response emails from our Greenhouse applicant tracking system come from a “[email protected]” email address. There are no variations of these email addresses and Nuvalent would not request personal and/or financial information via email. Job opportunities would only be extended after a completed job application is submitted by a candidate and a thorough interview process including 1:1 and/or group interviews via phone, video conferencing and/or in-person.
If you believe you have been contacted by anyone misrepresenting themselves as an employee of Nuvalent, please contact Nuvalent at 857-357-7000. Thank you.
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