Senior Director, Revenue Accounting

March 12

🍂 Massachusetts – Remote

Although this job is listed in Massachusetts, this company may be open to hiring remote in other states.

⏰ Full Time

🟠 Senior

🧾 Accounting Manager

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Nuvalent, Inc.

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Nuvalent, Inc. is a biotechnology company focused on developing targeted therapies for patients with cancer. With a strong foundation in chemistry and structure-based drug discovery, Nuvalent designs innovative small molecules to effectively inhibit kinase targets, overcoming challenges of resistance and selectivity. The company collaborates with physician-scientists to address patient needs and limitations of existing therapies, ensuring their solutions are built for patients and driven by a deep sense of purpose. Nuvalent is committed to using their expertise to deliver precisely targeted cancer treatments.

11 - 50 employees

🧬 Biotechnology

💊 Pharmaceuticals

📋 Description

• 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. • Establish, manage, and maintain all processes and accounting procedures that will facilitate an accurate 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 collaboratively 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 recognition 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 efficiency, 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 internal reporting to meet the needs of Finance and Commercial leadership. • Other projects and/or ad hoc assignments, as needed.

🎯 Requirements

• 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