Sr. Manager, Cost Accounting
Cogent BiosciencesAbout the role
Who We Are:
Cogent Biosciences is a publicly traded biotechnology company focused on developing novel precision therapies to treat a broad range of patients with unmet medical needs. Cogent’s lead program, bezuclastinib, is designed to selectively and potently inhibit exon 17 mutations found within the KIT receptor tyrosine kinase, including KIT D816V. KIT D816V is responsible for driving a rare and serious condition called Systemic Mastocytosis, and exon 17 mutations are also found in patients with gastrointestinal stromal tumors (GIST), a type of cancer with strong dependence on oncogenic KIT signaling. Bezuclastinib has exhibited promising initial data across all three trials: APEX in AdvSM, SUMMIT in NonAdvSM and PEAK in GIST, including an encouraging safety profile across 600+ patients in single agent and combination dosing.
The Role: Cogent Biosciences is preparing for its first commercial launch and we are seeking a Senior Manager, Cost Accounting to build and maintain the inventory and cost of goods sold processes. This role is responsible for ensuring accurate product costing, inventory valuation, variance analysis, and financial reporting in compliance with U.S. GAAP. This is a hands-on builder role suited for an experienced accountant with an expertise in pharmaceutical industry accounting practices, standard costing methodologies, inventory controls, and designing scalable accounting processes. This position reports to the Commercial Accounting Leader and will partner closely with Supply Chain, FP&A, Quality, Technical Operations, external vendors, and senior finance leadership to support the Company's transition to a commercial-stage organization
Responsibilities:
- Develop, implement, and maintain standard cost accounting policy & processes, including performing periodic analyses in support of our standard cost model and the regular investigation, resolution, and reporting of actual-to-standard variances
- Partner closely with Supply Chain, Quality, and FP&A teams to establish and maintain accurate product costing methodologies
- Manage accounting processes related to all stages of inventory (raw materials, WIP, finished goods) and ensure appropriate capitalization, standard costing, and variance analyses
- Complete inventory/cost accounting for month end financial close: enter journal entries, prepare account reconciliations, and provide inventory flux analysis/reporting related to external manufactured product (CMO model) to comply with U.S. GAAP
- Establish inventory controls and flow charts in coordination with Supply Chain and 3PL partners; align with internal and external auditors on appropriate SOX documentation
- Manage inventory reconciliations, cycle count programs, physical inventory counts, and inventory reserve analyses to ensure internal controls are functioning as designed
- Track and monitor inventory movement, capitalization, and reserves (including excess and obsolete inventory), working directly with external vendors to ensure accurate monthly reports
- Collaborate with the FP&A team to understand gross margin and inventory trends, and provide timely and insightful financial analysis of costs and margins to support budgeting, forecasting, and financial modeling related to manufacturing and inventory costs
- Provide financial analysis and operational insights regarding inventory performance, margin analysis, and supply chain efficiency to support strategic decision making
- Develop cost estimates for potential new products and projects in conjunction with the FP&A and Supply Chain teams
- Drive continuous improvements in inventory accounting processes, ERP system utilization, and reporting
Qualifications:
- Bachelor’s Degree in Finance or Accounting, required; CPA and/or CMA strongly preferred
- 6+ years of progressive accounting experience, with significant inventory and cost accounting responsibility within a biotech or pharmaceutical manufacturing environment
- Biotech/pharmaceutical industry experience, required
- Deep expertise in manufacturing operations (raw material, drug substance, drug product, packaging, & finished goods), inventory, and cost accounting, and the applicable U.S. GAAP requirements in those areas
- Strong understanding of SOX controls, design, and implementation, and experience supporting audits and internal control environments
- Excellent interpersonal and communication skills with the ability to interact effectively across all organizational levels as well as external vendors
- Demonstrated history of successfully managing multiple tasks with the ability to prioritize appropriately and meet deadlines
- Excellent analytic
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