Financial Operations and Insurance Administrator

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 $30 million, are backers including Lux Capital, Initialized Capital and CEOs and founders of multiple Fortune 50 companies.

About the Finance & Legal Team:

Formic provides robotics to customers via RaaS, and the Finance & Legal team is a critical part of the “as-a-service” part. They, like the wiring, plumbing or framing of a house that is not seen, are 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 servicing. 

This role plays a crucial role in supporting the team with key administrative and operational responsibilities. You will be responsible for providing high-level administrative support, managing processes for insurance tracking and gathering and verifying documentation for integrator onboarding, assisting with insurance renewal process and related audits and reporting, , coordinating critical projects, and ensuring the seamless operation of the Finance & Legal Team. The ideal candidate possesses exceptional organizational skills, strong attention to detail, excellent communication, and the ability to handle sensitive and confidential information with discretion.

As our Financial Operations and Insurance Administrator, you will:

• Own customer and contractor/integrator insurance policy management and tracking
• Enhance existing, or build new, processes, procedures, and tools
• Collaborate with the Customer Success and Deployment teams, insurance agents, and customers, to resolve insurance issues 
• Develop and own the process and procedure for collecting required documentation and confirming compliance requirements are met for contractor/integrator onboarding
• Collaborate with the Products and Partnerships team to ensure all requirements are met and documentation is received 
• Manage Formic’s insurance policies and track COIs Formic sends to other parties to ensure compliance.  Assist with required reporting and renewals, including communicating with our insurance agents and companies
• Manage Formic’s tax exemption certificate process with outside tax firms, including requesting and submitting to appropriate parties, and completion of tax exempt allocations and affidavits. 
• Manage supplier and vendor setup 
• Complete forms requested by third parties and customers (e.g., credit applications, vendor references, vendor questionnaires)
• Manage the Finance and Legal team’s shared drives, ensuring folder/file structure and hygiene
• Manage the Finance and Legal team’s teamspace in Notion
• Handle confidential information appropriately, including where appropriate, sequestration of documents and information
• Manage company virtual mail
• Assist team with other projects and tasks as assigned to support the needs of the team or company

What makes you a great fit:

• Bachelor’s degree 
• 5+ years of experience with and knowledge of commercial insurance policies and certificates of insurance 
• 5+ years of experience in a documentation administrative role or equivalent 
• Demonstrated experience with successful development of operational processes, policies, and procedures
• Demonstrated success in oversight of projects and tasks that require coordination and persistence with people at all levels in the corporate hierarchy
• Proficiency in Google Suite
• Possess an optimistic attitude with a willingness to dive in and handle unfamiliar matters
• Possess exceptional organization, prioritization, and communication skills
• Ability to work independently with limited oversight
• Experience with project management
• Willingness