Finance & Accounting Manager

Who We Are:

At Formic, we’re on a mission to revolutionize American manufacturing and create more abundance in the world. We believe in continuing the American legacy of innovation by making automation accessible to all manufacturers and increasing their factory productivity by 10x. 

Built upon deep expertise in robotics and manufacturing, our unique Pay-for-Productivity robotics solutions combine the best automation technology, tools, and uptime services for manufacturers, paving the way for a new era of supercharged efficiency and competitiveness. 

As the world faces growing pressure from rising costs and labor shortages, Formic is a uniquely powerful tool in overcoming these challenges.  Fueled by our vision for a resurged “Made in America,” we’re growing fast - achieving 70% quarterly growth in customer count and ARR, with ~30% of our customers having already deployed multiple systems.  

Supporting us in our mission, with investments thus far totaling over $60 million, are backers including Blackhorn Ventures, Mitsubishi HC Capital America, NEC, Translink Capital,
Alumni Ventures, FJ Labs, Lux Capital, Initialized Capital and Lorimer Ventures, and founders of multiple Fortune 50 companies. 

About the Finance & Legal team:

Formic provides robotics-as-a-service (RaaS) and the Finance & Legal team is a key part of providing the “as-a-service” part of RaaS.  The Finance & Legal team is part of the foundational infrastructure of RaaS–think the wiring, plumbing or framing of a house that is not seen, but is a critical part of making the house stand, last and function properly.  The Finance & Legal team is responsible for  financial operations; treasury and finance; accounting; credit; legal; compliance; and customer contracting and financial servicing.

As Finance & Accounting Manager, you will:

Manage various strategic initiatives and operational responsibilities for Finance and Accounting, including:

• Accounting: 
  • Provide knowledge and expertise in handling complex transactions, technical accounting standards, policy implementations, and operational accounting
  • Offer guidance on GAAP accounting policies including revenue recognition, lease accounting, impairment, and stock-based compensation, among others (working with our outside accounting advisors if/as needed)
  • Partner with external auditors on matters related to audit and accounting
  • Support Controller with month-end close, including reconciliations and posting journal entries and streamlining the overall close process
  • Manage new funding programs, and create and drive related accounting changes and requirements.  This will include things like creating a new entity, separate financials and AR reporting, and plans to manage accompanying accounting and intercompany transactions.
  • Possess swing capacity and willingness to support any Accounting needs as required as part of a growing startup team (e.g., managing resources for AP process and covering as needed)
• Finance:
  • Financial Reporting for internal and external parties (monthly, quarterly, investor, etc.); manage other managerial and ad hoc reporting requests as needed
  • Contribute to development of a system of internal controls to safeguard Company assets and ensure the completeness and accuracy of the Company’s financial statements
  • Support FP&A with forecasting, budgeting, and scenario modeling
    • Including ongoing efforts to streamline and consolidate internal Company data
  • Develop and implement finance KPI dashboard, flash reports, etc.
  • Direct and/or support implementation of Finance & Accounting systems (i.e. ERP)

What makes you a great fit:

• 7+ years of related Accounting and Finance experience required
• CPA strongly preferred
• Demonstrated success applying your Accounting and FP&A knowledge to solve new and unique (to you) challenges
• FP&A and financial modeling experience required; experience or interest in analytics preferred
• Experience with debt structures and accounting in a startup environment preferred
• Experience supporting or driving implementation of Accounting and ERP systems preferred; NetSuite experience preferred
• Ability and enthusiasm to support whatever project/task is needed to make Formic successful. As a small startup team we are focused on achieving outstanding results for our customers, industry partners, investors and funding partners–whether that means supporting our CEO on key investor needs or making copies. As a team we support each other, ask questions, are humble, and work together to help Team Formic be success