Sr. Cost Accountant

Madrona Venture Labs; San Carlos (CA); On-site; USD 80,000 - 100,000; Full time

Job summary

Madrona Venture Labs is seeking a Sr. Cost Accountant to enhance their financial operations. This role requires expertise in managing cost accounting processes, performing month-end closes, and collaborating with various departments within the biotech sector.

The ideal candidate should have a minimum of 6 years of relevant experience and a degree in Finance or Accounting. A strong knowledge of GAAP and skills in enterprise systems like NetSuite will be beneficial in maintaining accurate inventory management as the company transitions into its commercial stage.

Qualifications

• 6+ years of experience in cost accounting, preferably in manufacturing or biotech.
• Solid knowledge of GAAP related to inventory and COGS.
• Ability to analyze problems and meet deadlines.

Responsibilities

• Oversee daily operations of inventory and COGS accounting.
• Perform month-end accounting close and reporting duties.
• Business partnering with manufacturing and operations leaders.

Skills

Cost accounting

GAAP knowledge

Analytical skills

Excel proficiency

Detail-oriented

Problem-solving

Education

Degree in Finance or Accounting

Tools

NetSuite

Job description

At Nautilus, we have a big and important mission: improve the health of millions by unleashing the potential of the proteome to accelerate drug development and enable a new world of precision and personalized medicine. We are developing a single-molecule protein analysis platform of unprecedented sensitivity, scale, and ease of use that we believe will democratize access to the proteome – one of the most dynamic and valuable sources of biological insight. To accomplish this, we are pursuing deep, hard science with an entrepreneurial mindset and creating a world-class team of builders, innovators, and dreamers across a wide range of disciplines.

We are seeking an exceptional individual to join our growing team in our dynamic, early-stage biotech company. The Sr. Cost Accountant is responsible for creating and maintaining accurate process cost information, comparing standard costs to actual costs, managing perpetual inventory system, and owning the month-end close and budgeting process for inventory/cost. Additionally, they will develop and maintain a cost accounting system to reduce costs and improve profitability. This role requires an experienced professional in manufacturing and cost accounting to collaborate with various departments such as procurement, production, inventory control, and IT to establish best-in-class manufacturing cost accounting, reporting, and operational practices. The role requires strong technical depth, independent judgment, and the ability to influence cross-functional partners through expertise

This position will report to the Corporate Controller.

Responsibilities

• Oversee and assist with execution of the daily operations of inventory and COGS accounting transactions.
• Responsible for all aspects of standard cost rolls including component cost updates, overhead rates, bill of materials review, and routing maintenance (including labor costs and subcontract processing). This includes quarterly standard cost validations and revaluations.
• Perform month end accounting close and reporting duties (i.e., prepare journal entries and monthly Balance Sheet account reconciliations) specifically related to inventory. Ensure accurate inventory valuation on the balance sheet and establish required reserves. Prepares quarterly internal and external audit controls and backup.
• Perform analysis on spending and absorption, purchase price variance, work orders (production variances), inventory driven costs (Scrap, E&O, cycle count, etc.) for the monthly scorecard and plant (site) package. Work with Purchasing and Operations to investigate the variances.
• Develop and monitor the cycle count program, review adjustments, investigate root causes, and work with relevant functions to develop control plans.
• Business Partnering: Act as a trusted thought partner to manufacturing and operations leaders, providing financial perspective to support planning and decision-making.
• Collaborate with operations to convert demand forecasts into production plans, standard cost assumptions, and inventory targets, including analysis of variances versus actual results.
• Partner with operations and quality management to ensure inventory movement transactions are properly recorded.
• Maintain inventory / COGS related data and system attributes within NetSuite. Responsible for review of item records/maintenance by Operations.
• Identify and implement improvements in inventory control and costing processes to enhance efficiency, accuracy, and internal controls.
• Assist the Company as we move from pre-commercial to commercial stage specifically in inventory/cost accounting.
• Execute the accounting processes and activities across the organization to ensure compliance with the U.S. GAAP, internal policies, and external audits.
• Maintain a strong internal control environment and prepare documentation in accordance with Sarbanes-Oxley 404 internal control (SOX) policies and procedures. Coordinating implementation of accounting controls processes or new systems as needed.
• Promote a culture of continuous improvement and operational innovation as well as continue to grow the accounting team with the Company. Partner with third party vendors for appropriate software, tools and services for the Company.
• Participate in or lead ad-hoc tasks/projects, as needed.

Requirements

• A minimum of 6+ years of related work experience in cost accounting, preferably in manufacturing or biotechnology, holding similar responsibilities.
• Degree in Finance or Accounting, or equivalent experience.
• Solid knowledge of GAAP related to inventory and COGS required.
• Experience working with enterprise financial systems (NetSuite is a plus).
• Ability to solve and analyze problems, multi-task, meet deadlines, and learn new skills and systems
• Strong analytical skills and proficiency in Excel.
• Detail-oriented, ability to thrive in a fast-paced environment and able to perform tasks both in a team as well as individually. Successful experience with inter-departmental teamwork.
• Desire for continuous learning and flexibility to work in multiple areas.

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