Senior Director, Revenue Accounting

Summary

Join Nuvalent, a dynamic early-stage company in the oncology drug development field, as their new Senior Director of Revenue Accounting. This newly created leadership role will be instrumental in guiding the company through its commercialization phase. You will build and manage the entire revenue cycle, encompassing contract review, revenue accounting, gross-to-net accounting, and order-to-cash functions. The ideal candidate possesses strong leadership skills, technical accounting expertise, and the ability to collaborate effectively across departments. This role initially involves individual contributions, establishing processes for product launch, and subsequently building and mentoring a revenue accounting team. Success in this position requires a deep understanding of ASC 606 and related analytics, as well as experience in a biotech/pharmaceutical setting.

Requirements

• 12+ years of progressive experience in accounting, with at least three years in a managerial role
• Experience managing revenue recognition and gross-to-net accounting in a biotech/pharmaceutical company
• Bachelor’s Degree or higher in Accounting or Finance
• CPA
• Extensive US GAAP technical revenue accounting background
• Significant expertise in understanding and applying revenue recognition principles under ASC 606 and other relevant accounting standards

Responsibilities

• 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

Preferred Qualifications

• Former experience in Big 4 public accounting
• Order-to-cash oversight experience