Senior Manager/ Associate Director, Revenue Accounting - Cymabay Therapeutics

Senior Manager/ Associate Director, Revenue Accounting

CymaBay Therapeutics, Inc. is a publicly traded, clinical-stage biopharmaceutical company based in Newark, California, focused on developing therapies for liver and other chronic diseases with high unmet medical need.  We are looking for new team members to join our expanding organization.

Position Overview

Our new Senior Manager / Associate Director, Revenue will be responsible for monthly and quarterly accounting processes for product revenue with a special emphasis on gross-to-net and managing various Order to Cash activities. This role will report to the Corporate Controller and assist in reporting and presenting revenue and gross-to-net results to management. The successful candidate will be action-oriented with a blend of both technical, analytical, and operational accounting experience related to revenue recognition.

This is a hybrid role - our work from home days are Monday and Friday and our in-office days are Tuesday, Wednesday and Thursday.

Essential Functions and Job Responsibilities:

• Perform, develop, and/or review month-end closing procedures (i.e., journal entries and reconciliations) for sales revenue, accounts receivable, gross-to-net accruals, and royalty revenue.
• Collaborate with US Commercial Pricing team to proactively manage and monitor projects/initiatives to ensure appropriate revenue management system capabilities are built and maintained to assure compliance and potential bottlenecks or failures are identified and resolved promptly.
• Support gross-to-net accounting and forecasts for all products, ensuring all models are up to date with the latest methodologies and insights based on collaboration with Commercial teams.
• Assist with the development of revenue and gross-to-net dashboard for management, including but not limited to, trend analysis and flux/variance analyses and utilization of Excel charts, to collect and reformat data for efficient analysis of data.
• Analyze sales, utilization rates, wholesaler inventories, returns, and other data for accuracy and completeness to ensure appropriate reserves and resolves variances to forecast.
• Develop an understanding of customer contracts and gross-to-net (GTN) calculations to properly calculate, validate, and process all revenue-related admin fees, rebates, chargebacks, or other discounts within accounting systems and databases.
• Liaison with service providers, 3PL for gross-to-net services.
• Assist with government pricing review process.
• Manage out-licensing arrangements for ex-US and invoicing/collections, including coordinating with the commercial and business development teams.
• Manage and track royalty and milestone revenue transactions for out-licensing arrangements.
• Prepare technical accounting memorandums outlining the accounting treatment of product revenue-related transactions (i.e., ASC 606).
• Support SEC disclosure requirements with respect to revenue-related reporting matters.
• Execute SOX controls timely and provide support for all internal and external audits.
• Demonstrate strong knowledge of US GAAP and solid accounting skills.
• Demonstrate proficiency in financial analysis, reporting and interpretation of data.
• Additional duties and projects as needed.

Qualifications

• 6-8 years’ experience, including mix of Big 4 Accounting experience and large accelerated publicly traded biotech/pharma companies with gross-to-net and technical revenue accounting.
• US GAAP experience required, addition experience with IFRS (IFRS 15- Revenue) preferred
• CPA license preferred
• BA or BS degree in finance/accounting
• Experience in technical revenue accounting
• Ability to use advanced Excel spreadsheet functions, formulas, and charts to build and maintain models for calculating and forecasting gross-to-net deductions
• Ability to use advanced PowerPoint functions to develop revenue dashboards
• Ability to define problems, collect data, establish facts, and draw valid conclusions.
• Excellent organizational, analytical and communication skills, both oral and written.
• Proficient in Microsoft Excel working with pivot tables, v-lookups, and other functions.
• In-depth knowledge of GAAP and SEC rules.
• In-depth knowledge of SOX requirements.

The anticipated salary range for this role is $170,000 - $190,000. The final salary offered to a successful candidate will be dependent on several factors that may include but are not limited to the type and length of experience within the job, type and length of experience within the industry, education, etc.  CymaBay is a multi-state employer, and this salary range may not reflect positions that work in other states.