Associate Director, Revenue Accounting

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Job description

Company Description

Insmed is a global biopharmaceutical company on a mission to transform the lives of patients living with serious and rare diseases. Our most valuable resource is our employees, and everything we do is motivated by a patients-first mentality. We are dedicated to growing our team with talented individuals from around the world who are willing to challenge the status quo, solve problems, and work collaboratively with a sense of urgency and compassion.

Guided by our core values of collaboration, accountability, passion, respect, and integrity, we aim to foster an inclusive, diverse, and flexible work environment, where our employees are recognized for leaning in and rolling up their sleeves. If you share our vision and want to work with the most dedicated people in the biopharma industry, come to Insmed to accelerate your career.

Recognitions

Named Science's Top Employer in 2021, 2022, and 2023

Insmed is dedicated to creating a collaborative environment where our team can thrive. Every day, our employees turn their passion for science and research into innovative solutions for patients. That's why we were named the No. 1 company to work for in the biopharma industry in Science's Top Employers Survey for three years in a row.

A Certified Great Place to Work

We believe our company is truly special, and our employees agree. In July 2024, we became Great Place to Work-certified in the U.S. for the fourth year in a row. We are also honored to have been listed on the Best Workplaces in Biopharma , Best Workplaces in New York , PEOPLE Companies That Care, Best Workplaces for Women , Best Workplaces for Millennials , and Best Medium Workplaces lists.

Overview

The Associate Director will be a key member of Finance & Accounting organization, responsible for all aspects of revenue accounting activities for current and pipeline products. This includes accurate accounting for revenue and accounts receivable transactions working with Insmed Channel & Trade team and 3PL, as well as accurate accounting for Gross to Net deductions working with cross functional Insmed team. The Associate Director will also be responsible for the timely completion of monthly financial closing and management reporting, preparing and maintaining Sarbanes-Oxley (SOX) documentation, and satisfying internal and external audit requests as necessary. The ideal candidate will also partner globally with their international colleagues as needed.

Responsibilities

• Responsibilities (Essential Role Responsibilities):
• Partner with 3PL and Channel & Trade team to manage order to cash processes from new customer setups, invoicing, credit issuance, cash collection/application to monitoring accounts receivable balances and trends.
• Perform monthly close activities, including reconciliation and recording of 3PL activities in general ledger, prepare month end entries/reconciliations related to revenue recognition, gross to net accruals and all other revenue related accounts.
• Lead the cross functional close meetings and work closely with Channel & Trade, Commercial effectiveness, Market Access, Government pricing, FP&A, legal to review, analyze, and pressure test gross-to-net accounting estimates/accruals.
• Develop and maintain P&L and Balance Sheet Analytics for all GTN accounts including Customer fees and discounts, Chargebacks, Copay, Government rebates, Managed care rebates for Medicare Part D & Commercial.
• Prepare accurate and timely revenue information for Management reporting including explanation of significant period over period variances and any significant true ups based on actuals vs. accrual assumptions.
• Closely monitor all GTN actuals vs accruals to determine any true ups and any subsequent modifications to GTN assumptions/methodologies
• Support Senior Director, US Revenue and Inventory Accounting to implement all revenue accounting processes for new product launches including implementation of OTC and GTN accounting.
• Manage royalty agreements including calculating and recording monthly royalty entry, reconciling balance, managing external communication with royalty partners and ensuring royalty payments are accurate and processed timely.
• Review 3PL contracts and Customer contracts to ensure revenue recognition policies and procedures are in accordance with GAAP and industry regulations.
• Intimate knowledge of Accounting Standards Codification (ASC) 606, Revenue from Contracts with Customers.
• Prepare and maintain Sarbanes-Oxley (SOX) documentation for all areas of responsibility.
• Serve as a contact with external and internal auditors as part revenue audit procedures to satisfy internal and external audit requests as necessary.
• Serve as a primary contact to technical accounting and external reporting team to support disclosures for quarterly/annual filings and any commentary for internal reporting.
• Consistently look to improve process; recommend and implement improvements to current processes, pursue and drive automation where appropriate.
• Assume new responsibilities and perform ad hoc requests as needed.

Position Requirements (Required and/or Preferred Skills, Experience and Education):

• Bachelor's or higher degree in Accounting or Finance required; CPA or equivalent is preferred.
• 7+ years accounting experience in a pharmaceutical/Biotech company with 4-5 years in GTN accounting with commercially approved products is preferred.
• Strong analytical and accounting skills and good understanding of U.S. Generally Accepted Accounting Principles (GAAP) and Sarbanes-Oxley (SOX)
• Ability to prioritize responsibilities to meet regular and critical deadlines.
• Ability to contribute to and work within a cross-functional team.
• Must possess the ability to take initiative to complete assignments and job responsibilities with minimal supervision.
• Ability to thrive in a dynamic, fast-paced, and culturally diverse workplace environment.
• Highly organized with a strong attention to detail, clarity, accuracy, and conciseness
• Highly proficient in Microsoft Office. Excel financial modeling skills are required
• Oracle, EPM, Blackline and Qlik experience a plus

Travel Requirements

up to 10%

Salary Range

$139,000 - $195,200 a year

Compensation & Benefits

We're committed to investing in every team member's total well-being, now and in the future. We offer a competitive total-rewards package to all employees around the world, including:

• Flexible approach to where and how we work, regionally based
• Competitive compensation package including bonus
• Stock options and RSU awards
• Employee Stock Purchase Plan (ESPP)
• Flexible Vacation Policy
• Generous paid holiday schedule and winter break

ADDITIONAL U.S. BENEFITS:

• 401(k) plan with company match
• Medical, dental, and vision plans
• Company-provided Life and Accidental Death & Dismemberment (AD&D) insurance
• Company-provided short and long-term disability benefits
• Unique offerings of pet, legal, and supplemental life insurance
• Flexible spending accounts for medical and dependent care
• Accident and Hospital Indemnity insurance
• Employee Assistance Program (EAP)
• Mental Health on-line digital resource
• Well-being reimbursement
• Paid leave benefits for new parents
• Paid time off to volunteer
• On-site, no-cost fitness center at our U.S. headquarters

Additional Information

Insmed Incorporated is an affirmative action and equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, disability, age, sexual orientation, gender identity, national origin, veteran status, or genetic information or any other characteristic protected by law.

Insmed is committed to providing access, equal opportunity, and reasonable accommodation for individuals with disabilities in employment, its services, programs, and activities. To request reasonable accommodation to participate in the job application or interview process, please contact us by email at and let us know the nature of your request and your contact information. Requests for accommodation will be considered on a case-by-case basis. Please note that only inquiries concerning a request for reasonable accommodation will be responded to from this email address.

Unsolicited resumes from agencies should not be forwarded to Insmed. Insmed will not be responsible for any fees arising from the use of resumes through this source. Insmed will only pay a fee to agencies if a formal agreement between Insmed and the agency has been established. The Human Resources department is responsible for all recruitment activities; please contact us directly to be considered for a formal agreement.

Applications are accepted for 5 calendar days from the date posted or until the position is filled.

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