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Director of Accounting

Vestwell

Vestwell

Accounting & Finance
New York, NY, USA
Posted on Tuesday, August 29, 2023

Who Are We?

There are over 30M small businesses in the United States, but only a tiny fraction of them have a workplace savings program in place. As the savings gap in the country widens, it’s imperative that every worker has access to and participates in their company’s savings program, such as a 401(k) or 403(b). We believe that American workers should have easy access to an inexpensive, flexible, and intuitive solution to save for a brighter future.

Unfortunately, prior to Vestwell, small businesses have been neglected and underserved, with expensive, inflexible, poorly designed offerings built on old, mainframe software. Vestwell is changing that, starting with rebuilding the core infrastructure for the modern era.

Vestwell’s north star is to be the engine behind a $30T industry, powering all payroll-deducted workplace savings programs for small-to-midsize businesses, such as 401(k), 403(b), IRA, emergency savings accounts (ESA), health savings accounts (HSA), 529 college savings, and alike.

Vestwell’s focus is to build the most flexible, powerful workplace savings and investment platform, delivered through the hands and minds of their financial services partners with the help of payroll provider partners. The team at Vestwell makes the hard stuff look easy, by combining the expertise of financial advice with the sophistication of a technology provider.

As a result, workplace providers are able to bestow the advice and solution employers and employees have been asking for, while growing and scaling along the way. Employers get a cost-effective solution designed for their needs without all the headaches, and employees get a user-friendly portal that helps them achieve their long-term saving goals.

Why Vestwell?

With backing from leading FinTech investors, as well as a growing team of dedicated professionals of strong industry pedigree, Vestwell is at the forefront of a much-needed change in a 40-year old industry. Our team believes in the mission we’ve set out to achieve and we are working hard to get there. We’re ambitious, honest, thoughtful, and fun.

Vestwell is seeking a Director of Accounting to be part of a growing finance team. In this role you will take ownership of Vestwell’s technical accounting function, offering strategic advice and practical solutions to help Vestwell and our clients comply with accounting regulations, enhance financial reporting accuracy, and comply with independent audits. You will report to Vestwell’s Vice President, Operational finance and work cross-functionally and in close collaboration with leaders across our organization. The role will have a significant impact on the trajectory of the company as we scale into our next phase of growth.

What you’ll be doing:

  • You will ultimately be responsible for supporting Vestwell’s financial objectives by providing financial analyses and recommendations to the VP, Operational Finance, CFO and executive team, incorporating feedback and directing staff as needed to “level up” Vestwell’s operational finance organization
  • You will be driving change through the development of accounting organizational strategies by contributing accounting and financial information, analysis, and recommendations for strategic thinking and direction
  • You will be responsible for establishing and updating Vestwell’s operational accounting policies and procedures by evaluating trends, establishing critical measurements, designing systems, resolving problems, incorporating technical knowledge and implementing process change across the finance team and in the broader organization
  • You will be project managing the annual financial audit process, including the drafting of financial statements, preparation of supporting technical documentation and co-ordination of the broader finance team
  • You will assist in the preparation of financial reporting through collection, analysis, and consolidation of financial information, and collaborating with departments across Vestwell on the collection and analysis of data
  • You will lead communication on financial reporting and technical accounting matters with the management team, external auditors and the audit committee of the Board, addressing and remediating any concerns as needed
  • You will drive Vestwell’s tax optimization strategy by studying regulations, coordinating with external advisors, presenting tax strategies and recommendations to management, and filing returns
  • You will be responsible for driving optimization across Balance Sheet and Cash Flow Statement - understanding and forecasting accurate cash needs for the business, implementing initiatives for working capital improvements, cash generating initiatives and driving greater transparency into cash flow reporting and forecasting.

Requirements:

  • Graduate of accredited 4-year college / university with education concentration in accounting preferred.
  • 5-10 years of experience related to general ledger close, financial reporting, financial statement auditing, and technical accounting.
  • Proficient in monthly close processes, accurate and timely accounting, trial balance and financial statement analysis.
  • Experience leading strategies to drive financial and operational goals.
  • Perform and/or lead corporate accounting and reporting functions by overseeing the monthly financial close process, guiding team operations, and collaborating with key stakeholders.
  • Ensure accuracy and timeliness of the financial statements, in accordance with Generally Accepted Accounting Principles (GAAP).
  • Deliver monthly reporting to client management members, boards, lenders, and private equity owners.
  • Lead, partner with, and grow accounting teams of various skill levels.
  • Oversee and/or contribute to client annual external financial statement audits.
  • Implement improved processes and internal controls around financial close, accounts payable, payroll, and various other accounting processes including development of corporate accounting policy/procedure manuals.

Subject Matter Expertise (required):

  • CPA
  • GAAP accounting expertise, with a particular focus on ASC606 compliance

Technical Expertise (preferred):

  • Financial Systems ERP (ideally Sage Intacct or NetSuite) and general ledger experience
  • Strong Microsoft Excel skills
  • Experience working with high-growth FinTech companies

The expected salary range for this position is $120K - $150K. Please note that salary bands are based on NY and other similar metro areas and may differ based on where the role is ultimately hired.

Vestwell’s Privacy Policy. Attention California residents: In the course of conducting our business and complying with federal, state, and local government regulations governing such matters as employment, tax, insurance, etc., we must collect Personal Information from you. Should you accept employment with Vestwell you may view our California Privacy Rights Act here: Vestwell’s California Privacy Rights Policy.

Our Benefits

We’re a growth stage startup with lots of exciting milestones ahead. We value health and wellness at Vestwell and in addition to a dedicated Employee Wellbeing Committee, we offer competitive health coverage and an open vacation policy. We have adopted a remote-hybrid office policy, but all employees are welcome at our bright, comfortable office with many workspace options in midtown Manhattan so everyone has a setting that is the most productive for them. We provide our team with all the equipment they need (plus a few perks!) to work effectively remotely. Oh, and naturally we have a great 401(k) plan!